Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 13 January 2021 3:42 pm

  EU: Euro Area Industrial Production Expands by 2.5% in November vs. 0.2% Expected

  

  Industrial Production in the euro area expanded by 2.5% on a monthly basis in November, the data published by the Eurostat showed on Wednesday. This reading followed October’s increase of 2.3% and beat the market expectation of 0.2% by a wide margin. Industrial Production contracted by 0.6% Y-o-Y in November …

  Read More »
• 13 January 2021 3:29 pm

  Currencies Overview: Dollar Recovery Recedeas US Bond Yields Decline

  

  The dollar suffered losses on Wednesday, as declining US yields weakened the momentum generated by its recent recovery and investors cautiously resumed bets that it could continue to slide. Against the euro, the dollar recorded its biggest daily decline in more than a month and declined more than 1% against …

  Read More »
• 13 January 2021 2:46 pm

  European Stocks Poorly Performing, And Denmark’s Orsted Down Due to a Profit Warning

  

  European stocks were largely unchanged on Wednesday as the utility sector was hit by a profit warning from Danish wind farm developer Orsted, while French grocery store Carrefour jumped after merger talks. Carrefour gained 10.6% after Canadian store operator Element Couche-Tard said it had contacted Europe’s largest retailer to discuss …

  Read More »
• 13 January 2021 2:02 pm

  Chinese Auto Sales on Track to Recover in 2021

  

  Auto sales in China fell for the third year in a row in 2020 but increased year on year for the ninth consecutive month in December as Beijing continues to lead the global auto sector’s recovery from the COVID-19 pandemic. Chinese auto sales fell 1.9% to 25.3 million cars last …

  Read More »
• 13 January 2021 1:37 pm

  France’s Economy Contracted 4% in Q4

  

  The French central bank said today, Wednesday, that the country’s economy has likely contracted 4% in the last quarter of last year compared to the previous three months, although activity increased in December after the lifting of general isolation measures imposed to combat the spread of the Coronavirus. In light …

  Read More »
• 13 January 2021 12:34 pm

  Gold Rises as Dollar Rally Stops

  

  Gold rose today, Wednesday, as the dollar and US Treasury yields declined, while the prospect of a massive financial stimulus in the United States boosted the appetite for the yellow metal as a hedge against inflation. Spot gold rose 0.1% to $1,857 an ounce, while US gold futures gained 0.8% …

  Read More »
• 13 January 2021 9:00 am

  How the Fed is Focusing on Economic Recovery

  

  The United States Federal Reserve now has a clearer focus on the American economy’s path to recovery, Reuters reported, citing official sources. There is also optimism that the peaceful transition of power to a new administration on January 20 will help increase government stimulus and the distribution of vaccines, which …

  Read More »
• 13 January 2021 3:34 am

  U.S. Oil Inventories Down 5.8 M Barrels: API

  

  Crude oil inventories in the United States declined by 5.8 million barrels last week, according to the weekly report from the American Petroleum Institute (API). Meanwhile, gasoline stockpiles rose by 1.9 million barrels, while distillate inventories added 4.4 million barrels.

  Read More »
• 13 January 2021 3:31 am

  U.S. Treasury Yields Nearly Unchanged Amid Increased Demand

  

  Treasury yields in the United States stabilized on Tuesday, amid increased investors demand after yields rose to their highest levels since March of last year. Return on the 10-year Treasury note remained nearly unchanged at 1.136%. Earlier, it rose to 1.185%. Yield on the 30-year bond rose by 0.3 basis …

  Read More »
• 13 January 2021 1:26 am

  Oil Futures Finish at Highest Level Since February

  

  Oil prices rose on Tuesday, supported by the decline of the U.S. Dollar (USD) and the recent OPEC+ agreement to curb output during February. Crude prices were able to log high gains and reach their best settlement level in about 11 months. Brent crude futures for March delivery added 92 …

  Read More »
• 13 January 2021 1:00 am

  Gold Returns to Decline Even as USD Rebound Stops

  

  Gold prices declined on Tuesday, giving up gains seen earlier in the second session of the week. The downward trend of the yellow metal continues even as the U.S. Dollar (USD) is returning to the negative territory. Gold futures for February delivery lost $6.60, or 0.4%, to close at $1,844.20 …

  Read More »
• 13 January 2021 12:07 am

  GBP Rises with Negative Rates Seem Unlikely

  

  The British Pound (GBP) is showing a strong performance on Tuesday, supported by the decline of the U.S. Dollar (USD) and the possibility of negative rates being ruled out by the governor of the Bank of England, Andrew Bailey. The GBP is up by a little over 1% against the …

  Read More »
• 12 January 2021 11:38 pm

  BoE’s Bailey: UK Facing Darkest Hour

  

  The Governor of the Bank of England (BoE), Andrew Bailey, said on Tuesday that the British economy is challenged by the darkest hour amid the rising number of Coronavirus cases, Reuters reported. The BoE Governor has ruled out turning to negative interest rates to boost the economy, despite what he …

  Read More »