Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 11 February 2021 8:47 pm

  U.S. Natural Gas Inventories Down 171 BCF

  

  Natural gas inventories in the United States decreased by 171 billion cubic feet (Bcf) during the week ended February 5, according to data by the U.S. Energy Information Administration (EIA) on Thursday. The total amount of natural gas stockpiles currently stands at 2.518 trillion cubic feet (Tcf), declining by 9 …

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• 11 February 2021 7:36 pm

  USD Flat After Jobless Claims Data

  

  The U.S. Dollar (USD) remained mostly flat on Thursday, following the release of official data that showed a decline in the number of initial claims for unemployment benefits in the United States. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is …

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• 11 February 2021 6:31 pm

  US: Weekly Initial Jobless Claims Decline to 793K

  

  There were 793,000 initial claims for unemployment benefits in the US during the week ending February 6, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 812,000 and came in worse than the market expectation of 757,000.

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• 11 February 2021 5:33 pm

  OPEC Lowers 2021 World Oil Demand Growth forecast to 5.79M bpd From 5.9M bpd

  

  OPEC said that global oil demand will rebound in 2021 at a slower pace than previously thought, in the latest step in a series of cuts to expectations amid the fallout from the coronavirus pandemic. The Organization of Petroleum Exporting Countries added in a monthly report that demand will rise …

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• 11 February 2021 4:58 pm

  Platinum at a Peak of More Than 6 Years

  

  Platinum prices rose to their highest levels in more than six years, continuing a strong rally thanks to market hopes that an economic recovery would support demand from the auto sector. Platinum rose 1.3% to $ 1257.51 an ounce, after earlier jumping as much as 2.2% to its highest level …

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• 11 February 2021 3:55 pm

  IEA Laments The Fragile Oil Market And Expects Quick Draw in H2 of 2021

  

  The International Energy Agency said today, Thursday, that global oil supplies are still exceeding demand due to the continuing general isolation measures aimed at combating the Coronavirus and the spread of its strains, but vaccines should help to recover demand and quickly allow producers to pump more. The Paris-based Energy …

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• 11 February 2021 3:01 pm

  US Dollar Settled After Weak US Inflation And Central Tendency to Monetary Easing

  

  The dollar fell during a quiet Asian session, after weaker than expected inflation data in the United States for January and the Federal Reserve’s repetition of its monetary easing stance, but the US currency compensated for some of its losses with the opening of European markets. Data on Wednesday showed …

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• 11 February 2021 2:12 pm

  A Sudden Drop in Russia’s Oil Production Since The Beginning of February

  

  Sources told Reuters that despite plans to increase its oil production, data show that Russia’s production of oil and gas condensate actually fell from February 1 to February 10 to 10.11 million barrels per day from an average of 10.16 million barrels per day in January. As of February, Russia …

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• 11 February 2021 2:10 pm

  Oil Retreating After a Strong Rally

  

  Oil prices retreated, giving back some of the strong recent gains they have made, on expectations of a slower economic recovery and speculation that market strength may entice producers like Saudi Arabia to reduce production. Brent crude fell 35 cents, or 0.6%, to $ 61.12 a barrel with the opening …

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• 11 February 2021 2:08 pm

  European Stocks Rise on Earnings Reports

  

  European stocks rose to remain on the path to concluding the week on stability, as investors closely watched a barrage of corporate earnings reports to derive indications of the pace of recovery in business activities. The pan-European STOXX 600 index rose 0.1% in early trade, with most of the sectors …

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• 11 February 2021 2:06 pm

  Gold is Falling on US Dollar’s Recovery And Weaker US Inflation Data

  

  Gold fell as the dollar recovered from a two-week low it reached in the previous session and weaker inflation data in the United States dampened appetite for the yellow metal. Gold fell in immediate transactions 0.3% to $ 1837.13 an ounce, after reaching its highest level in more than a …

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• 11 February 2021 2:12 am

  What is Driving the Surge in Platinum Prices?

  

  Platinum prices surged on Wednesday to their highest level in six years, with increased demand from investors driving the surge in the precious metal futures. According to market experts, platinum is attracting more investments now as it nears its third year in a row with a global supply deficit. In …

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• 11 February 2021 1:56 am

  Wall Street Closes Mixed Following Inflation Data and Fed Remarks

  

  The main indices of the New York Stock Exchange (NYSE) showed a mixed performance on Wednesday, with Wall Street investors digesting the January inflation data as well as recent remarks from the Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average rose by 61.97 points, or 0.2%, to close …

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