Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 9 July 2021 3:30 pm

  PBOC Cuts RRR by 50 bps

  

  In an unexpected move, the People’s Bank of China (PBOC) cut the Reserve Ratio Requirement (RRR) for banks by 50 bps with effect from July 15. Weighted average RRR for all financial institutions at 8.9% after the new cut.

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• 9 July 2021 2:47 pm

  Chinese Car Sales Fell For The Second Month in June, by 12.4%

  

  The decline in Chinese auto sales increased by 12.4% in June for the second month in a row, after falling by 3% in May. Data from the China Association of Automobile Manufacturers Friday (July 9) showed that sales in China, the world’s largest auto market, totaled 2.02 million vehicles sold …

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• 9 July 2021 2:15 pm

  Gold Heading For Its Third Weekly Gain Due to Lower Yields And Virus Fears

  

  Gold rose in volatile trading Friday, July 9, heading for gains for the third consecutive week, as the safe-haven allure of the yellow metal was boosted by concerns about the fast-spreading delta smoothing from Covid-19 and a drop in US Treasury yields. Spot market rose 0.1% to $ 1803.92 an …

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• 9 July 2021 1:39 pm

  UK Economic Growth Slows in May to 0.8%

  

  The British economy slowed down in May 2021 to 0.8%, compared to expectations of 1.5%. May marks the fourth consecutive month of growth in British GDP, but leaves the economy far from pre-pandemic levels by about 3.1%. Growth was slower than in April, which was revised down from 2.3% to …

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• 9 July 2021 1:14 pm

  European Shares Rise at The End of a Week of Turmoil

  

  European shares rose on Friday, July 9, as investors bought, after one of the worst sell-offs in the market since the beginning of the year, amid concern over the stalled global economic recovery. The pan-European STOXX 600 index rose 0.8%, as sectors hit by the drop this week saw gains, …

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• 9 July 2021 12:39 pm

  Mixed Performance of Oil in Light of The Decline in US Stocks And The Lack of an OPEC+ Agreement

  

  Oil prices varied on Friday, July 9, and are still on track to incur a weekly loss, between optimism due to the decline in US inventories, and uncertainty about global supplies due to the impasse currently afflicting OPEC +. Brent crude futures fell only three cents to $74.09 a barrel, …

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• 9 July 2021 12:18 pm

  Japan Shares Plunge to 8-Week Lows on Fears of Slowing Growth

  

  Japanese stocks plunged to an almost 8-week low on Friday, July 9, on fears of a slowing economic recovery after the country declared a state of emergency to curb the outbreak of the Coronavirus, but losses were curbed by hopes that the Bank of Japan might intervene to support the …

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• 9 July 2021 2:30 am

  Wall Street Drops Due to Pandemic and Recovery Concerns

  

  The New York Stock Exchange (NYSE) closed lower on Thursday, with the main indices on Wall Street seeing their worst daily losses since June 18. Rising demand for Treasury bonds and safe haven amid concerns about the rising number of Coronavirus (COVID-19) cases infected mainly with the variants are negatively …

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• 9 July 2021 1:55 am

  USD Declines Across the Board Amid Economic Concerns

  

  The U.S. Dollar (USD) declined on Thursday, amid rising concerns about the economic rebound and recovery from the coronavirus pandemic. Worries about the rising number of cases in many countries with the spread of new variants of the COVID-19 led to increased selling pressure on the greenback. The Dollar Index …

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• 9 July 2021 1:34 am

  Latin America’s Economy Expected to Grow 5.2%

  

  The Latin American economy is expected to grow by 5.2% in 2021, despite concerns about recovery amid an increase in cases in many parts of the world with the new variants, according to the United Nations (U.N.) Economic Commission for Latin America and the Caribbean (ECLAC). The new forecasts mark …

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• 9 July 2021 12:44 am

  Oil Rebounds Despite Recovery Concerns and Uncertainty

  

  Oil prices rebounded on Thursday, recovering some of its recent huge losses, after data showed a drop in the U.S. crude oil inventories, despite uncertainty about the future of the OPEC+ output cuts. In addition, markets are seeing rising concerns about the pace of economic recovery and resurgence of the …

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• 8 July 2021 10:59 pm

  Gold Logs First Loss in Six Sessions

  

  Gold prices declined on Thursday, snapping a five-session rising streak, amid increasing selling pressures with investors adjusting their positions amid losses by the U.S. Dollar (USD) and stocks markets. Given the recent rises, selling pressures might have also resulted from profit-making. Gold futures for August delivery lost $1.90, or 0.1%, …

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• 8 July 2021 10:19 pm

  Rising Pandemic Concerns Focused on New Variants Despite Vaccinations

  

  A recent report has warned against the rising number of Coronavirus (COVID-19) cases and fatalities, despite the improvement that is mostly attributed to the wide rollout of vaccines. Experts in the Yale School of Public Health and the Commonwealth Fund believe that without a vaccination program, there would have been …

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