Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 16 June 2021 7:36 pm

  U.S. Oil Inventories Down 7.4 M Barrels

  

  Crude oil inventories in the United States declined by 7.4 million barrels last week, according to data by the Energy Information Administration (EIA) released on Wednesday. The decline exceeded most market expectations, which were hovering around 4.2 million barrels for the week ended June 11, but still came below estimates …

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• 16 June 2021 5:57 pm

  The Turkish Lira Swing Ahead of Rhe Central Turkish Meeting

  

  The Turkish lira traded around 8.5 against the US dollar after a volatile start to the week, amid strained US-Turkish relations and persistent concerns about the central bank’s credibility ahead of Thursday’s policy meeting. Earlier this week, President Recep Tayyip Erdogan reiterated his country’s position on the S-400 missile defense …

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• 16 June 2021 5:20 pm

  US: Housing Starts Rise by 3.6% in May

  

  Housing Starts in the US rose by 3.6% on a monthly basis in May following April’s drop of 12.1% (revised from -9.5%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday.

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• 16 June 2021 4:37 pm

  Canada: Annual CPI Rises to 3.6% in May

  

  Annual inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 3.6% in May from 3.4% in April, the data published by Statistics Canada revealed on Wednesday. This reading came in higher than the market expectation of 3.5%. On a monthly basis, the CPI remained steady at …

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• 16 June 2021 4:01 pm

  UK Inflation Hits 2.1%

  

  Inflation in Britain unexpectedly jumped, exceeding the target of the Bank of England in May, reaching 2.1%, in the context of the rise in prices after the end of the general isolation measures from Corona, which is expected to gain momentum. This acceleration of the consumer price index after recording …

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• 16 June 2021 3:08 pm

  Gold Consolidating in a Narrow Range, Eyes on The Fed

  

  Gold settled and moved in a narrow range on Wednesday, June 16, as investors awaited the outcome of the latest US Federal Council meeting for indications of a possible reduction of economic support measures, while the dollar’s rise imposed pressure on the yellow metal. There was little change in gold …

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• 16 June 2021 2:23 pm

  What to Expect From the FOMC Today

  

  The FOMC meeting will be the main event for the market today. We don’t expect the Fed to send any significant new policy signals, but now updated forecasts will likely show a first rate hike in 2023 and we may see the first comments from the Fed on Possible tapering …

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• 16 June 2021 1:46 pm

  German IFO Institute Cuts 2021 GDP Growth Forecast to 3.3%

  

  German IFO institute cut the country’s 2021 GDP growth forecast to 3.3% from 3.7% previous due to supply bottlenecks, the latest report showed on Wednesday. German current account surplus to shrink from 7% in 2020 to 5.8% in 2021 and 4.9% in 2022.

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• 16 June 2021 1:10 pm

  Oil Prices Rise as Demand Outlook Improves, US Inventories Fall

  

  Oil prices rose on Wednesday, June 16, while the price of Brent crude rose for the fifth consecutive session, as sentiment improved on the back of falling inventories and a recovery in demand after the Coronavirus pandemic. Brent crude rose 47 cents, or 0.6%, to $ 74.46 a barrel, the …

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• 16 June 2021 5:31 am

  Fed Likely to Maintain Policy and Point to Rate Hike in 2023

  

  The U.S. Federal Reserve will likely maintain its current policy and make no changes in the two-day policy meeting that is concluding on Wednesday. Some analysts have expected the policy statement will point to the next interest rate hike taking place in 2023. Investors will closely examine the monetary policy …

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• 16 June 2021 2:08 am

  U.S. Oil Inventories Down 8.5 M Barrels

  

  Crude oil inventories in the United States reportedly declined by 8.5 million barrels last week, according to data by the American Petroleum Institute (API) released on Tuesday 11. Meanwhile, gasoline inventories are estimated to have rose by about 2.9 million barrels. Distillate stockpiles increased by about 2 million barrels. Official …

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• 16 June 2021 1:39 am

  Wall Street Closes Lower Ahead of Fed’s Statement

  

  The New York Stock Exchange (NYSE) closed lower on Tuesday, with Wall Street investors shifting their focus towards the Federal Reserve meeting, which is concluding on Wednesday. The Dow Jones Industrial Average closed lower by 94.42 points, or 0.27%, at 34,299.33 points. Meanwhile, the S&P 500 declined by around 8.56 …

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• 16 June 2021 1:06 am

  GBP/USD Rebounds from Two-Month Low

  

  The British Pound (GBP) showed a mostly negative performance against the U.S. Dollar (USD) on Tuesday, ahead of the U.S. Federal Reserve’s interest decision and policy statement, which is due on Wednesday. The GBP/USD pair reached its lowest level in about two months at 1.4034, after falling from a daily …

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