Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 30 June 2021 11:39 pm

  Gold Futures Fall for the Month to Limit Quarterly Gains

  

  Gold prices rose on Wednesday, amid the U.S. Dollar (USD) decline across the board, but showed a varied performance on the monthly and quarterly levels. The yellow metal’s front month contract for July delivery added $8.00, or 0.45%, to settle at $1,770.80 per ounce. This marked the biggest daily gain …

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• 30 June 2021 10:22 pm

  European Stocks Maintain Monthly and Quarterly Gains

  

  European stocks closed lower on Wednesday, amid concerns about the rising number of coronavirus cases, especially of the Delta variant, as well as reflation fears. The STOXX Europe 600 index lost 3.53 points, or 0.77%, and closed at 452.84 points. This market the biggest daily loss for the pan-European index …

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• 30 June 2021 9:40 pm

  Chicago PMI Hits Four-Month Low in June

  

  The Chicago Business Barometer Index declined in June to 66.1 from 75.2 in May, hitting a four-month low, data showed on Friday. During the second quarter (Q2) of the year, the Purchasing Manager Index (PMI) rose by 7.9 points to 71.1, according to ISM-Chicago. This marked the highest quarterly reading …

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• 30 June 2021 8:30 pm

  U.S. Oil Inventories Down for Sixth Straight Week

  

  Crude oil inventories in the United States declined last week for the sixth consecutive week, according to official data. The U.S. Energy Information Administration (EIA) on Wednesday reported that crude inventories fell by 6.7 million barrels in the week to June 25. The drop in oil inventories exceeded most market …

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• 30 June 2021 7:17 pm

  U.S. Pending Home Sales Surge in May

  

  U.S. pending home sales increased last month to its highest level since 2005, data showed on Wednesday. The Pending Home Sales Index rose by 8.0% in May to 114.7, according to data by the National Association of Realtors. The surge in the gauge of contracts signed last month came against …

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• 30 June 2021 7:04 pm

  U.S. Private Payrolls Rise More than Expected

  

  U.S. private payrolls rose more than expected during June, with businesses filling more vacancies to increase production amid demand recovery with the economy reopening, data showed on Wednesday. Private payrolls increased by 692,000 jobs this month, compared with May’s reading of 886,000, which was revised downwards from an initially estimated …

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• 30 June 2021 6:03 pm

  Turkish Lira Rises Despite Positive US Data

  

  Despite the positive US data on the labor market, and the advance of the US dollar index, the Turkish lira managed to rise strongly against the dollar after days of decline. The data released today also indicates that the trade balance deficit widened on an annual basis by 20.2% during …

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• 30 June 2021 5:13 pm

  The European Union Adds 11 Countries to Its List of Safe Travel, Including Saudi Arabia And Jordan

  

  Diplomats said EU governments have agreed to add 11 countries, including Saudi Arabia, Jordan and Qatar, to their list of countries that will allow non-essential travel from them. The ambassadors of the twenty-seven countries of the Union agreed to add these countries in today’s meeting, with the decision to take …

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• 30 June 2021 4:41 pm

  Canada: Real GDP Contracts by 0.3% in April

  

  Canada’s Real Gross Domestic Product (GDP) contracted at 0.3% in April, the data published by Statistics Canada showed on Wednesday. This reading came in better than the market expectation for a decrease of 0.8%. In March, the Canadian economy grew by 1.3%.

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• 30 June 2021 4:36 pm

  US: Private Sector Employment Rises by 692K in June

  

  Employment in the US’ private sector increased by 692,000 in June, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed May’s print of 886,000 (revised from 978,000) and surpassed the market expectation of 600,000.

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• 30 June 2021 3:22 pm

  OPEC+ to Discuss Extension of Oil Supply Deal Beyond April 2022

  

  The Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, is expected to discuss a potential extension of the oil supply deal beyond April 2022 on Thursday, Reuters reported, citing two OPEC+ sources.

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• 30 June 2021 2:43 pm

  Reuters: An OPEC + Committee Expects an Imbalance in The Oil Market After April 2022

  

  According to a report seen by Reuters, an OPEC+ committee warned of “significant uncertainty” and the risk of a possible disruption to the global oil market after April 2022. The report also showed that the committee, known as the Joint Technical Committee, expects a surplus of oil by the end …

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• 30 June 2021 1:59 pm

  The Dollar Near Its Latest Peak as US Wage Data Awaits

  

  The dollar is set to record its best monthly gain since March on Wednesday, June 30, supported by traders’ concerns ahead of hard-to-predict US jobs data and concern that the delta strain of the Coronavirus will delay the recovery from the pandemic. The dollar gained about 2.5% against a basket …

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