Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 14 July 2021 6:03 pm

  BoC Leaves Policy Rate Unchanged, Reduces Weekly Asset Purchases to C$2B

  

  The Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following the July policy meeting as expected. However, the BoC decided to reduce the target of weekly net asset purchases of the government of Canada bonds to C$2 billion from C$3 billion.

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• 14 July 2021 5:39 pm

  U.S: Annual PPI Climbs to 7.3% in June

  

  The Producer Price Index (PPI) in the US for final demand rose to 7.3% on a yearly basis in June from 6.6% in May, the data published by the US Bureau of Labor Statistics showed on Wednesday. This reading beat the market expectation of 6.8% by a wide margin. On …

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• 14 July 2021 5:39 pm

  Canada: Manufacturing Sales Decline in May

  

  Manufacturing Sales in Canada contracted by 0.6% on a monthly basis in May, the data published by Statistics Canada revealed on Wednesday. This reading followed April’s decline of 2.1% and came in worse than the market expectation for an increase of 1%.

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• 14 July 2021 4:35 pm

  Gold Touches a High of 1825

  

  Gold prices rose on Wednesday, July 14th, after receiving a boost from falling US Treasury yields and the dollar Gold touches a high of 1825 as we mentioned in our morning report after it got the bullish momentum at 1797 taking advantage of falling USD. The yellow metal rose after …

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• 14 July 2021 3:44 pm

  BoC Preview: Forecasts From Four Major Banks

  

  Markets are looking forward to Wednesday’s decision on interest rates by Bank of Canada, and it is widely expected that the Bank of Canada will leave the interest rate unchanged (0.25%). reduce weekly asset purchases to $2 billion Here are the expectations as forecast by the economists and researchers of …

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• 14 July 2021 3:11 pm

  Turkey: CBRT Leaves Policy Rate Unchanged at 19%

  

  The Central Bank of the Republic of Turkey (CBRT) announced on Wednesday that it left its policy (one-week repo) rate unchanged at 19% as expected. 

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• 14 July 2021 2:22 pm

  Eurozone Industrial Production Falls by 1% in May

  

  Eurozone’s Industrial Production in Germany showed a bigger-than-expected drop in May, the official data published by Eurostat showed on Wednesday, suggesting that the recovery in the manufacturing sector is losing momentum yet again. The industrial output in the bloc arrived at -1.0% MoM vs. a 0.2% drop expected and 0.6% …

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• 14 July 2021 1:42 pm

  Gold is Rising Due to The Decline in USD And US Bond Yields Before Powell’s Speech

  

  Gold prices rose on Wednesday, July 14th, after receiving a boost from falling US Treasury yields and the dollar, while the focus is now on US Federal Reserve Chairman Jerome Powell’s speech to Congress later today after the strong rise in consumer prices. And gold rose in the spot market …

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• 14 July 2021 1:15 pm

  The Dollar is at a 3-Month High Against The Euro

  

  The US dollar rose Wednesday, July 14 to touch a three-month high against the euro and hit a one-week high against the Japanese yen, after rising US inflation spurred bets for a faster monetary tightening than Fed officials have indicated so far. The New Zealand dollar jumped more than 1% …

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• 14 July 2021 12:40 pm

  UK Inflation Jumps to 2.5% in June

  

  Official data showed that the rate of inflation in Britain rose more than the rate targeted by the Bank of England in June to reach 2.5%, compared to 2.1% in May. Economists polled by Reuters had expected the consumer price index to stand at 2.2% in the 13 months to …

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• 14 July 2021 2:18 am

  Wall Street Closes Lower After Inflation Surge

  

  The New York Stock Exchange (NYSE) closed lower on Tuesday, after logging new record highs yesterday, as Wall Street investors responded to the huge surge in inflation. June’s reading of the Consumer Price Index (CPI) showed a 5.2% surge, exceeding market expectations. The Dow Jones Industrial Average declined by 0.31% …

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• 14 July 2021 1:59 am

  Dollar Registers Biggest Rise in About a Month Following Inflation Surge

  

  The U.S. Dollar (USD) rose on Tuesday across the board, following the release of June’s inflation reading that showed an increase in consumer prices that exceeded market expectations. The Consumer Price Index (CPI) jumped by 5.4% on an annual basis last month, compared with a 5% increase in May, according …

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• 14 July 2021 12:59 am

  U.S. Oil Inventories Expected to Register Eighth Consecutive Weekly Drop

  

  Crude oil inventories in the United States are expected to further drop, with official data due on Wednesday by the U.S. Department of Energy’s Energy Information Administration (EIA). Last week, data showed that U.S. oil stockpiles declined for the seventh consecutive week by 6.866 million barrels. A drop that exceeded …

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