Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 25 January 2021 5:38 am

  Weekly Recap: 18-23 January

  

  The highlight of the week was the inauguration of Joe Biden as the 46th President of the United States. Biden is promising to better handle the Coronavirus crisis in the U.S. through a new plan for distributing vaccines, as well as increased stimulus to help businesses and households alike cope …

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• 23 January 2021 3:20 am

  Oil Futures Shrug Off Most of Weekly Gains

  

  Oil prices declined on Friday, as data showed a surprise increase in crude inventories in the United States, and amid the rise of the U.S. Dollar (USD). In addition, the resurgence of the Coronavirus pandemic in many parts across the world has spurred concerns about the recovery of the global …

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• 22 January 2021 11:58 pm

  U.K. Warns New Coronavirus Variant Could be More Deadly

  

  The Prime Minister of the United Kingdom (U.K.), Boris Johnson, said on Friday that the new variant of the novel Coronavirus, which caused a global pandemic, could be resulting in a higher mortality rate, Reuters reported. However, Johnson noted that studies have shown that the two vaccines that have been …

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• 22 January 2021 11:41 pm

  Gold Records First Gains in Four Weeks

  

  Gold prices declined on Friday, as the U.S. Dollar (USD) returned to the positive territory scoring some gains against major currencies. However, the yellow metal was able to register weekly gains, supported by the prospects of increased government stimulus spending the United States. Gold futures for February delivery declined by …

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• 22 January 2021 9:40 pm

  Second Trump Trial in U.S. Senate to Begin Next Week

  

  The United States House of Representatives will reportedly deliver the single article of impeachment against former President Donald Trump to the Senate on Monday, according to Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi. The Senate is set to witness the second trial of Trump; however, removal from …

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• 22 January 2021 9:28 pm

  European Stocks Erase Weekly Gains at Friday’s Close

  

  European stocks closed lower on Friday, on the back of economic data that showed business activity slowing down in the Eurozone amid renewed lockdown and preventive measures against the spread of the Coronavirus pandemic. The pan-European STOXX 600 index lost 0.66% to give up almost all of its weekly gains …

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• 22 January 2021 9:24 pm

  Dollar Rises After Three Consecutive Declines

  

  The U.S. Dollar (USD) is showing a relatively stable performance on Friday. After declining throughout the past three sessions, the greenback is making small gains on the last session of the week. This comes amid a softening in the risk appetite, which swayed investors away from the USD towards riskier …

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• 22 January 2021 8:05 pm

  U.S. Business Activity Strengthens in January: IHS Markit

  

  Business activity in the United States expanded during January, data showed on Friday. The IHS Markit flash U.S. composite purchasing managers’ index (PMI) reached its highest level in two months at 58 this month, up from 55.3 in December. The Flash U.S. Services Business Activity Index also went up to …

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• 22 January 2021 7:31 pm

  U.S. Home Sales Rise in December

  

  Existing home sales in the United States rose last month, data by the National Association of Realtors showed on Friday. Home sales grew by 0.7% to a seasonally adjusted annual rate of 6.76 million units during December, against market expectations of a decline. Home resales rose by 22.2% on an …

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• 22 January 2021 4:37 pm

  Biden: Corona Deaths Will Likely Exceed Half a Million Next Month in The US

  

  US President Joe Biden said Thursday, January 21, that the total number of Covid-19 deaths in his country will likely exceed half a million next month, painting a grim picture of what he said will be a fierce battle. Biden added in a meeting at the White House that the …

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• 22 January 2021 4:08 pm

  UK Retail Sales Recovered Less in December

  

  Official data revealed that British retailers struggled to recover in December from partial lockdown measures the previous month, marking a weak end to their worst year on record, while public borrowing rose to its highest levels since 1962. These numbers bode poorly for Britain’s economy in early 2021, as it …

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• 22 January 2021 3:22 pm

  UK Preliminary Manufacturing PMI Misses Estimates

  

  The UK manufacturing and services sector activities declined in January, the preliminary report from IHS Markit showed on Friday. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) hit a seven-month low of 52.9 in January versus 54.0 expected and 57.5 – December’s final reading.

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• 22 January 2021 2:35 pm

  Currencies Overview: Dollar Heading Towards a Weekly Loss as The Recovery Fades

  

  The dollar settled in a cautious Asian session on Friday, January 22nd, but it is heading towards its worst weekly performance since the start of the year as investors welcome Joe Biden’s management by buying higher-risk assets. Against the Japanese currency, the dollar has fallen 0.3% this week and retreated …

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