Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 22 February 2021 2:56 pm

  Currencies Overview: The Dollar Trimmed Losses on Yields Rising

  

  The dollar trimmed its losses in early European trade after reaching its lowest level in several years against the pound sterling and the currencies of Australia and New Zealand, as bond yields rose in light of progress in Corona’s immunization programs and expectations of an acceleration of economic growth and …

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• 22 February 2021 1:22 pm

  Goldman Raises Its Forecast For Brent Price in Q3 to $75 a barrel

  

  Goldman Commodities Research raised its Brent crude oil price forecast of $10 for Q2 and Q3 of 2021, indicating lower expectations for stocks and higher cost margins for resuming upstream activities and speculative inflows. The American bank expects Brent prices to reach $70 a barrel in Q2, from the $60 …

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• 22 February 2021 12:48 pm

  Gold Rising From a 7-Month Low as The Dollar’s Weakness Outweighs The High Yields

  

  Gold prices rose, after reaching its lowest level in more than seven months in the previous session, as support from the dollar’s weakness overshadowed the pressure caused by the rise in Treasury yields. Spot gold rose 0.5% to 1,791.50 dollars an ounce, after touching its lowest level since the second …

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• 22 February 2021 12:13 pm

  Saudi Arabia And Russia Differ on Oil Strategy Ahead of OPEC+ Meeting

  

  The Kingdom of Saudi Arabia and Russia have all divided overviews on production strategy ahead of the upcoming OPEC+ meeting. Saudi Arabia sees a preference for keeping production steady, but Russia wants to increase supplies, Bloomberg reported. OPEC+, which includes members of the Organization of the Petroleum Exporting Countries (OPEC) …

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• 22 February 2021 11:06 am

  Japan Shares Jumped on Recovery Hopes

  

  Japanese stocks jumped, ending a three-day losing streak, as optimism about the economy’s recovery from the pandemic prompted new purchases of materials companies, those related to travel, and cheap ones linked to the economic cycle. The benchmark Nikkei index rose 0.46% to 30,156.03 points, while the broader Topix index gained …

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• 22 February 2021 10:31 am

  Bitcoin Jumps to a New Peak And Exceeds $58,000

  

  Bitcoin extended its gains Sunday, February 21st, jumping to a new peak as it continued its rally for two months, raising its market value to more than $ 1 trillion on Friday. The world’s most popular cryptocurrency jumped to a new record high of $58,354, with weekly gains of about …

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• 22 February 2021 5:25 am

  Weekly Recap: 15-19 February

  

  Weekly Recap: February 15-19, 2021 Global markets continued to be dominated by reflation expectations last week. In addition, various economic data and indicators reflected variably on the outlook for economic growth and recovery from the impact of the Coronavirus pandemic. Expectations for a rise in inflation in the United States …

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• 20 February 2021 3:05 am

  Fed’s Willaims: Low Interest Causing High Asset Valuation

  

  The President of the Federal Reserve Bank of New York, John Williams, said on Friday that economic recovery and low interest rates are providing background for the recent surges in the stock market and other investment assets. “Market participants and investors around the world are looking ahead through this year …

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• 20 February 2021 2:25 am

  NYSE Closes Mostly Flat to Finish the Weekly Mixed

  

  The main indices of the New York Stock Exchange (NYSE) closed mostly unchanged on Friday to finish the week in losses, with the exception of the Dow that recorded small gains. The Dow Jones Industrial Average closed unchanged, after rising marginally by 0.98 point, to end the week at 31,494.32 …

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• 20 February 2021 2:02 am

  Bitcoin Rally Continues Above $55,500

  

  Bitcoin rose on Friday, extending its recent rally of new surges to unprecedented record high levels. The biggest cryptocurrency rose by 6.78% over the next 24 hours to $55,584.60. The digital currency has extended its gains over the past seven days to around 17.20%. In addition, Bitcoin reassured its position …

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• 19 February 2021 11:00 pm

  Oil Closes Lower to Reduce its Weekly Gains

  

  Oil prices declined on Friday, amid expectations that major crude producers forming the OPEC+ alliance could decide to raise output next month. The fall in oil prices comes despite the continuity of cold weather conditions, due to a strong winter storm that led to the shutdown of major oil facilities, …

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• 19 February 2021 10:00 pm

  Gold Fails to Recover Worst Weekly Losses Since Early January

  

  Gold prices rose on Friday for the second consecutive session, narrowing their weekly losses that remained the biggest since the first week of the year. A decline by the U.S. Dollar (USD) across the board against major international currencies helped the rise of the yellow metal, which still scored weekly …

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• 19 February 2021 10:00 pm

  U.S. Oil Rigs Decline for First Time in 13 Weeks

  

  The number of active oil rigs in the United States declined this week, seeing their first weekly decrease since November 2020, according to data by Baker Hughes. Oil rigs in the U.S. decreased by one to a total of 305 this week, while rigs drilling for natural gas increased by …

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