Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 6 May 2021 1:08 am

  Fed Officials Remain Patient about Policy Changes

  

  The United States Federal Reserve Vice Chairman, Richard Clarida, said on Wednesday that time is yet to come for reducing the massive bond-buying or raising the historically low-interest rates. Speaking on behalf of the central bank, Clarida told reports “we will get more data, and as we move through the …

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• 5 May 2021 11:07 pm

  Oil Shows Mixed Performance Following Inventory Data

  

  Oil prices showed a mixed performance on Wednesday, following the release of the weekly inventories report in the United States. Another increase in gasoline stockpiles increased worries about demand recovery. Brent crude futures for June delivery added 8 cents, or 0.1%, to reach $68.96 a barrel. Meanwhile, the U.S. West …

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• 5 May 2021 10:38 pm

  Metals Rally After Yellen Explains Rate Hike Remarks

  

  Gold prices rose on Wednesday after declining yesterday due to comments about the U.S. Treasury Secretary that suggested nearing an interest rate hike. The U.S. Secretary of the Treasury, Janet Yellen, is also the former leader of the Federal Reserve. She was the central bank’s first Chairwoman. Yellen walked back …

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• 5 May 2021 10:02 pm

  European Stocks Rebound from Recent Losses

  

  European stocks recovered on Wednesday with their best daily performance in about two months. The pan-European STOXX 600 index gained 1.8%, with the basic resources sector surging by 4.7% to its highest level in about 10 years, while the tech sector added 2.7% to recovery some of its recent sharp …

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• 5 May 2021 8:45 pm

  ADP Jobs Report Show Biggest Rise in Seven Months

  

  Private payrolls in the United States increased in April, registering its largest rise in seven months, data showed on Wednesday. The ADP National Employment Report showed that private payrolls rose by 742,000 jobs last month, recording its biggest increase since September. Meanwhile, the March reading was revised upward to indicate …

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• 5 May 2021 8:31 pm

  U.S. Oil Inventories Fall Beyond Expectations

  

  Crude oil prices rose on Wednesday, maintaining an upward trend for the third session in a row, following the release of the U.S. Energy Information Administration (EIA) weekly report. The supplies weekly report showed that oil inventories in the United States declined by more than expected last week, falling by …

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• 5 May 2021 7:13 pm

  U.S. Services Industry Maintains Growth in April

  

  The United States services sector expanded with a relatively slower pace in April, data showed on Wednesday. The Institute for Supply Management (ISM) non-manufacturing activity index declined to 62.7 in April from a reading of 63.7 in March, which was a new record high. The services sector’s new orders index …

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• 5 May 2021 3:20 pm

  Eurozone Business Growth Accelerated in April

  

  Business activity accelerated in the euro area last month, as the dominant service sector in the region ignored renewed lockdown measures and resumed growth, according to a survey on Wednesday that also indicated that companies are facing rising raw material costs. Europe is facing a third wave of the Coronavirus, …

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• 5 May 2021 3:10 pm

  European Stocks Rebound After Selling Spree as Mining Sector Jumps

  

  European stocks recovered on Wednesday May 5th from a sharp sell-off in the previous session, as higher commodity prices contributed to the rise in mining companies’ shares, while the business results season maintained positive momentum, improving sentiment in the markets. The European Stoxx600 index rose 0.8% in early trade, the …

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• 5 May 2021 2:35 pm

  The Dollar Finding it Difficult to Continue Its Gains Amid Talk of a Possible US Interest Rate Hike

  

  The dollar tried to extend its gains Wednesday May 5th amid talk of a possible US interest rate hike and a wave of tech stocks selling undermining risk appetite. Yesterday’s recovery in the dollar pressured the euro, which fell to $1.2021 and threatens to break an important support range between …

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• 5 May 2021 1:45 pm

  Canadian Province of Alberta Confirms First Death Related to AstraZeneca Vaccine – Reuters

  

  The head of the medical sector in the Canadian province of Alberta said in a statement that the province witnessed the first death related to the AstraZeneca vaccine against Covid-19 disease. Late on Tuesday, he said that a woman in her 50s had died after being injected with the vaccine. …

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• 5 May 2021 1:15 pm

  Gold Prices Are Rising as Appetite Strengthens Supporting The Dollar’s Decline

  

  Gold prices rose on Wednesday, May 5, supported by the dollar’s decline, but the gains were limited after US Treasury Secretary Janet Yellen said interest rates may need to be raised. Spot gold rose 0.2% to 1,781.13 dollars an ounce. US gold futures rose 0.3% to $1781.50. The dollar index …

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• 5 May 2021 12:46 pm

  Oil Prices Rise After Sharp Drop in US Crude Inventories

  

  Oil prices rose on Wednesday, May 5, continuing the gains from the previous session after industry data indicated that US crude inventories fell by much more than expected last week, reinforcing positive views of fuel demand in the world’s largest economies. US West Texas Intermediate crude futures rose 48 cents, …

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