Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Cash flows into the New York Federal Reserve’s reverse repurchase (RRP) facility hit a new record high at $485 billion on Thursday, according to recent reports. The development is increasing the pressure on key interest rates that could decline into the negative territory below zero. The previous all-time high was …
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May, 2021
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28 May 2021 2:09 am
EIA Expects Higher Demand and Fuel Price Hike
The United States Energy Information Administration (EIA) has projected that energy prices will continue to rise on increased demand, according to its latest outlook report. The EIA now expects the global demand for fuel will reach 97.7 million barrels per day, rising by 5.4 million barrels per day compared to …
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28 May 2021 12:03 am
Oil Maintains Gains for Fifth Session to Reach Highest Level Since 2018
Oil prices rose on Thursday for the fifth consecutive session, with economic data boosting hopes for recovery. Specifically, the U.S. GDP data, which showed a growth rate of 6.4%, provided support to crude oil prices, as well as the drop in jobless claims. Brent crude futures for July delivery rose …
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27 May 2021 11:01 pm
Gold Sees First Loss in Four Sessions
Gold prices declined on Thursday after three consecutive rises, losing the $1,900 level, as the U.S. Dollar (USD) strengthened with the Treasury yields rising. The yellow metal futures for June delivery lost $5.5, or 0.3%, to close at $1,895.70 per ounce. Gold futures for August delivery also dropped $5.30, or …
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27 May 2021 9:57 pm
Kansas Fed Manufacturing Index Declines
The Tenth District manufacturing activity maintained growth during May, expanding at a strong pace, with positive expectations for future activity, according to the Federal Reserve Bank of Kansas. However, the monthly composite index declined to 26 this month, from 31 in April. Factory activity expanded on an annual basis, maintaining …
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27 May 2021 9:30 pm
Yellen: Biden Budget to Raise Debt-to-GDP Ratio
The proposed budget by the United States President Joe Biden will increase the ratio of the public debt to the gross domestic product (GDP), Secretary of the Treasury, Janet Yellen, said on Thursday. However, the budget will not add extra pressures on the inflation rate, Yellen noted. Speaking to a …
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27 May 2021 8:59 pm
Biden Administration Closely Monitoring Inflation – Yellen
The United States Secretary of the Treasury, Janet Yellen, said on Thursday that the recent rise in inflation will most likely be temporary, with the economy still recovering from the coronavirus (COVID-19) pandemic. She further told Congress that the administration of President Joe Biden, as well as U.S. regulators, are …
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27 May 2021 8:29 pm
U.S. Capital Goods Orders Rise in April
U.S. new capital goods orders rose in April more than expected, as businesses recover from the coronavirus pandemic, data showed on Thursday. Orders increased by 2.3% last month, according to the U.S. Department of Commerce. On an annual basis, the rise was by 14.7%. Core capital goods shipments also grew …
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27 May 2021 7:03 pm
Pending Home Sales Decline in April
The United States Pending Home Sales Index declined by 4.4% on a monthly basis in April, data showed on Thursday. The decrease resulted from a record-low supply of homes available for sale during the first quarter of the year, according to the National Association of Realtors (NAR). This comes against …
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27 May 2021 5:34 pm
US: Weekly Initial Jobless Claims Retreat to 406K
There were 406,000 initial claims for unemployment benefits in the US during the week ending May 22, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 425,000 and followed the previous print of 444,000.
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27 May 2021 4:45 pm
US: Durable Goods Orders Decline by 1.3% in April vs. +0.7% Expected
Durable Goods Orders in the United States declined by 1.3%, or $3.2 billion, to $246.2 billion in April, the data published by the US Census Bureau revealed on Thursday. This reading came in worse than the market expectation for an increase of 0.7% and followed March’s print of +1.3% (revised …
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27 May 2021 4:19 pm
Gold Settles Below $ 1900 as Investors Await US Data
Gold prices stabilized Thursday, May 27, below the psychologically important level of $1900 an ounce, after the dollar’s rise limited gains as investors awaited US economic data that might provide clues about inflation and monetary policy. Spot gold fell 0.1% to $ 1895.10 an ounce, after hitting its highest level …
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27 May 2021 3:13 pm
Oil Prices Declining Due to Fears of a Possible Return of Iranian Supplies
Oil prices fell on Thursday, May 27, but remained within their narrow range this week, as optimism about the summer driving season in the United States and Europe was met with concern about India’s demand and a possible increase in Iranian supplies. Brent crude was down 57 cents, equivalent to …
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