Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 5 January 2021 12:22 am

  Oil Closes Lower Awaiting OPEC Meeting Outcome

  

  Crude oil prices finished Monday on a lower note, amid anticipation for the outcomes of the OPEC+ summit, which will resume on Tuesday. Saudi Arabia is calling for maintaining the output curbs, while Russia is asking for raising production in anticipation for demand recovery. Brent crude futures for March delivery …

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• 5 January 2021 12:14 am

  Oil Market Seeing Concerns About Demand Recovery

  

  The crude oil market is seeing rising concerns about the recovery of global demand amid another wave of the Coronavirus pandemic. A summit for the Organization of the Petroleum Exporting Countries (OPEC) and other major producers led by Russia, an alliance known as OPEC+ is discussing output policy for the …

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• 4 January 2021 11:16 pm

  Gold Finishes First Session of 2021 with Solid Gains

  

  Gold prices rose on Monday, opening the year with a positive performance despite an improved risk sentiment among investors. The yellow metal futures were even able to restore the $1,900 mark with solid gains. Gold futures for February delivery rose by $51.50, or 2.7%, to settle at the level of …

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• 4 January 2021 10:05 pm

  U.S. Manufacturing Activity Expands in December

  

  Manufacturing activity in the United States expanded at its highest pace in more than six years during December, as shown by the IHS Markit’s manufacturing purchasing managers index (PMI) on Monday. The manufacturing sector’s PMI rose to 57.1 in December from 56.7 in November. Moreover, the index flash reading for …

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• 4 January 2021 9:44 pm

  Evans Indicates Fed’s Easy Policy Will Continue

  The President of the Federal Reserve Bank of Chicago, Charles Evans, on Monday, said that the Fed remains in need of maintaining its accommodative policy for the near future, Reuters reported. “To meet our objectives and manage risks, the Fed’s policy stance will have to be accommodative for quite a …

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• 4 January 2021 9:28 pm

  U.S. Construction Spending Hits Record High

  

  Construction spending in the United States grew to record high in November, data showed on Monday, according to the U.S. Department of Commerce. The American housing market is showing strength signs, booming in the midst of historically low mortgage rates. The housing industry is seen as a strong support to …

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• 4 January 2021 9:23 pm

  Bitcoin Fluctuating Around $31,000 on Monday

  

  Bitcoin, the world’s largest cryptocurrency, is declining on Monday despite an improved risk sentiment among investors. Bitcoin is down by around 7.4% for the day at $30,927.70, according to CoinMarketCap. Over the next seven days, Bitcoin achieved gains of about 15.8%, exceeding the $30,000 and the $31,000 for the very …

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• 4 January 2021 9:18 pm

  European Stocks Close First Session of New Year Higher

  

  European stocks rose on Monday, opening the year with a positive performance amid an improved risk sentiment among investors, supported by the roll out of new Coronavirus vaccines, despite the concerning number of new cases. The pan-European STOXX 600 index closed higher by 0.72% on the back of gains by …

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• 4 January 2021 8:00 pm

  EUR-Denominated Shares Move Out of London

  

  Trading in Euro-denominated shares has moved on Monday from London to new platforms in the European Union (EU), after the completion of the Brexit and the United Kingdom (UK) leaving the European single market, Reuters reported. Banks and asset managers operating in member countries of the EU must use a …

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• 4 January 2021 7:00 pm

  New Mortgages in UK Hit New Record High

  

  Banks in the United Kingdom (UK) have approved more than 100,000 new mortgages in November, data by the Bank of England (BoE) showed on Monday. With 104,969 mortgages in November, rising by 98,338 compared to its level in October, this is the highest level recorded of new mortgage loans since …

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• 4 January 2021 6:01 pm

  USD Opens Year on Lower Note

  

  The US Dollar (USD) is declining on Monday, opening the New Year with a negative performance amid increased risk sentiment among many investors. Hopes for new vaccines are seemingly exceeding worries from the rising number of cases in many countries, which is driving more investors towards riskier currencies. The Dollar …

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• 4 January 2021 5:38 pm

  Trading of Euro-Denominated Shares Moves From London to the European Union

  

  Euro-denominated stocks moved from London to new platforms in the European Union on Monday, the first trading day after Britain withdrew from the bloc’s single market. Trading in euro-denominated shares in Amsterdam and the new Aquis exchange platform in Paris grew steadily when trading began without any problems.

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• 4 January 2021 5:09 pm

  Official Manufacturing PMI in China Fell to 53 in December From 54.9 in September

  

  China announced that manufacturing activity expanded in December as the world’s second-largest economy continued to show signs of recovering from the coronavirus pandemic. On the other hand, higher costs slowed the pace of expansion in factory activities. The official PMI manufacturing index fell to 53 from 54.9 in September. The …

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