Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2021

• 2 April 2021 10:36 am

  Oil Prices jump by 3% Despite OPEC+ Decision to Gradually Increase Production

  

  Oil prices jumped more than 3% Thursday after OPEC+ reached an agreement to gradually ease production restrictions from May. Brent crude rose $ 1.94, or 3.1 percent, to $ 64.68 a barrel. U.S. crude rose $ 2.10, or 3.6 percent, to $ 61.26 a barrel. OPEC +, which includes the …

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• 2 April 2021 1:20 am

  OPEC+ Agree on Gradually Easing Output Cuts

  

  The OPEC+ alliance, consisting of the Organization of the Petroleum Exporting Countries (OPEC) and other major crude oil producers, has decided to ease output curbs by gradually increase production over the course of the upcoming three months. According to media reports, the move comes as the United States has called …

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• 2 April 2021 1:00 am

  Wall Street Finish Higher on Positive Economic Data

  

  The New York Stock Exchange (NYSE) closed higher on Thursday, supported by a positive sentiment and economic data that showed a healthy performance by the manufacturing sector. Accordingly, the S&P 500 index closed at a new all-time high, despite a rise in jobless claims in the U.S. The Dow Jones …

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• 1 April 2021 11:59 pm

  Oil Scores Large Gains Following OPEC+ Decision

  

  Oil prices rose on Thursday after the OPEC+ alliance opted not gradually ease output cuts, which means that no sudden disruptions will hit the market. Recently, there have been concerns about the recovery of the global demand for oil, however, with the recent OPEC decision the gradual increase come in …

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• 1 April 2021 11:00 pm

  Gold Futures Rise but Finish Q1 Down 10%

  

  Gold prices rose on Thursday for the second consecutive sessions, amid a decline by the U.S. Dollar (USD) after data showed a surge in jobless claims in the United States. The yellow metal futures for June delivery rose by $12.80, or 0.8%, to close at 1,728.40 per ounce. During the …

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• 1 April 2021 10:00 pm

  U.S. Oil Rigs Rise by 13 in Week

  

  Active rigs drilling for crude oil in the United States increased by 13 to a total of 337 this week, data by Baker Hughes showed on Thursday. The total number of rigs drilling for both crude oil and natural gas increased by 13 to 430, as the number of natural …

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• 1 April 2021 9:38 pm

  European Stocks Close Higher Following Positive PMI Reading

  

  European stocks finished higher on Thursday, supported by an improved investors’ sentiment following the release of positive economic data. The STOXX Europe 600 index finished higher by 0.67% at 432.49 points, on the back of a 2% rise by the technology sector. Earlier today, data showed that the manufacturing activity …

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• 1 April 2021 9:32 pm

  USD Declines Following Rise in Unemployment Claims

  

  The U.S. Dollar (USD) declines across the board on Thursday, after data showed a rise in jobless claims in the United States, prompting concerns about the pace of economic recovery from the impacts of the Coronavirus pandemic. The Dollar Index (DXY), which measures the greenback’s performance against a basket of …

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• 1 April 2021 7:12 pm

  U.S. Natural Gas Inventories Down 14 bcf in Week

  

  Natural gas inventories in the United States increased by 14 billion cubic feet (bcf) last week, according to data by the U.S. Energy Information Administration (EIA). The EIA weekly report showed on Thursday that natural gas supplies reached 1.764 trillion cubic feet, decreasing by 225 bcf compared with the same …

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• 1 April 2021 6:09 pm

  ISM US Manufacturing PMI Jumps in March

  

  The business activity in the US manufacturing sector grew at its strongest pace since 1983 with the ISM Manufacturing PMI rising to 64.7 in March from 60.8. This reading came in better than the market expectation of 61.3.

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• 1 April 2021 5:44 pm

  Canada: Markit Manufacturing PMI Rises to Highest Level in 10 Years

  

  The business activity in Canada’s manufacturing sector continued to expand at a robust pace in March with the IHS Markit Manufacturing PMI rising to 58.5 from 54.8 in February.

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• 1 April 2021 5:07 pm

  US: Challenger Job Cuts Drop in March

  

  Planned job cuts in the US-based employers dropped to 30,603 in March from 34,531 in February, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday. This reading represented an 86% decline from the 222,288 job cuts announced in the same month last year when businesses were …

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• 1 April 2021 4:38 pm

  US: Weekly Initial Jobless Claims Rise to 719K

  

  There were 719,000 initial claims for unemployment benefits in the US during the week ending March 27, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 658,000 (revised from 684,000) and came in worse than the market expectation of …

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