Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 19 May 2021 11:30 am

  UK annualized CPI Beats Estimates With 1.5% in April,

  

  The UK Consumer Prices Index (CPI) 12-month rate came in at +1.5% in April when compared to +0.7% booked in March while beating expectations of a +1.4% record, the UK Office for National Statistics (ONS) reported on Wednesday.

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• 19 May 2021 11:10 am

  Bitcoin Drops Below $40,000

  

  Bitcoin continued to fall in a continuous wave of volatility for a week, retreating below the $40,000 barrier, as news of further restrictions on cryptocurrency transactions in China exacerbated previous concerns raised by tweets from Tesla President Elon Musk. Bitcoin fell, about 8%, to up to $ 38,700, to be …

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• 19 May 2021 10:37 am

  Oil Prices Falling on High Rate of Covid-19 Cases in Asia And Inflation Concerns

  

  Oil prices fell for the second consecutive session on Wednesday, May 19, due to renewed demand concerns with the rise in cases of Coronavirus in Asia and fears of high inflation, which may push the US Federal Reserve to raise interest rates, which may limit economic growth. Brent crude futures …

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• 19 May 2021 10:35 am

  UK Inflation Rose to 1.5% in April From 0.7% in March

  

  Official data showed on Wednesday that consumer price inflation in Britain rose to 1.5% in April from 0.7% in March. Economists had expected, in a Reuters poll, an increase in inflation to 1.4%.

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• 19 May 2021 9:18 am

  European Stocks Close with Huge Losses

  

  European stock markets declined on Wednesday, amid continuous concerns about the rising inflation rates and uncertainty surrounding the future of monetary policies and interest rates. The pan-European STOXX 600 index plunged by 1.5%, as the basic resources stocks led the decline and dropped by 4.1%. The French CAC40 index declined …

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• 19 May 2021 4:44 am

  Markets Await Signals for Policy Direction in Fed’s Meeting Minutes

  

  Markets are anticipating the release of the United States Federal Reserve’s minutes of its April meeting, due to be released on Wednesday. The meeting minutes are expect to publicly show some signs that there was a discussion among the monetary policy maker on whether the central bank should raise interest …

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• 19 May 2021 1:50 am

  Wall Street Closes Lower as Inflation Fears Persist

  

  The New York Stock Exchange (NYSE) finished lower on Tuesday, as Wall Street continues to be impacted by investors’ concerns about the high inflation rates. The decline came despite the positive earnings reports by some blue-chip stocks, including Home Depot and Walmart. The Dow Jones Industrial Average lost 267.13 points, …

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• 19 May 2021 1:27 am

  Oil Closes Lower Amid Expectations for Rising Output

  

  Oil prices declined on Tuesday, as media reports pointed to expectations of a rise in output as talks continue regarding the Iran nuclear deal. In addition, data by the American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 620,000 barrels last week. Gasoline inventories …

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• 19 May 2021 12:56 am

  Gold Settles Higher as the USD Declines Across the Board

  

  Gold prices rose on Tuesday, registering gains for the fourth consecutive session, as the U.S. Dollar (USD) continued to decline against major peers. In addition, the rising consumer inflation in the United States leading to mixed expectations for the interest rates also increased the demand for safe-haven assets. After trading …

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• 19 May 2021 12:31 am

  Yellen Calls Upon Business Leaders to Support Government Efforts

  

  The United States Secretary of the Treasury, Janet Yellen, is calling for higher tax rates, urging business leaders to pay their fair share amid increased government spending on stimulus and economic relief packages to stimulate the economic recovery from the coronavirus pandemic. Yellen said in her speech to the U.S. …

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• 19 May 2021 12:01 am

  European Stocks Finish Higher Despite Recession

  

  European stocks finished higher on Tuesday, as markets attempt to recover from the recent losses that resulted from concerns about the surge in inflation in the United States. The STOXX Europe 600 index closed higher by 0.28% at 443.55 points, with the travel and leisure sector recovering some of its …

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• 18 May 2021 9:10 pm

  Canadian Exporters Foresee More Gains for CAD

  

  The Canadian market is seeing increasing expectations that the Canadian Dollar (CAD) will maintain its recent against the U.S. Dollar (USD), which is prompting more exporters to adjust their currency hedges, according to a recent report by Bloomberg. Since the beginning of 2021, the loonie gained about 6% against its …

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• 18 May 2021 7:48 pm

  Lagarde: ECB Committed to Protecting Europe’s Economy

  

  The European Central Bank (ECB) President, Christine Lagarde, said on Tuesday that the economic recovery in the Eurozone remains challenged by uncertainty, which requires continuous support from market authorities. Lagarde believes it is essential that the “monetary and fiscal support are not withdrawn too soon,” ruling out expectations of reducing …

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