Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2021

• 27 September 2021 4:42 am

  Weekly Recap: 20-24 Sept

  

  The Federal Reserve left rates unchanged after the end of the monthly meeting of the FOMC and stated that if progress in the economy continues as expected, we may see the start of reducing purchases sooner, as some members of the committee indicated that interest rates may rise soon after …

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• 25 September 2021 3:37 am

  Can Bitcoin bounce back after China’s ban?

  

  China took its strongest action so far against cryptocurrencies; and according to the PBOC, Bitcoin, ether and tether are not legal and should not and cannot be used as currency in the market because they’re issued by non-monetary authorities and use encryption technology.But the government didn’t ban possession of cryptocurrencies, …

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• 25 September 2021 2:05 am

  Will real gold price test come next week?

  

  The gold market will have to encounter a real test next week, as holding the $1,700 per ounce level. This will be critical for the precious metal, which has stayed largely above that level since the beginning of 2021 till date.Even with China’s Evergrande fears worrying the markets, gold failed …

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• 25 September 2021 1:30 am

  Dow gains as Pelosi’s hints on spending bill changes

  

  The Dow Jones Industrial Average has achieved a significant high amid prevalent weakness as House Speaker Nancy Pelosi hinted at changes as she moved to push ahead with debatable spending bills.The Dow Jones Industrial Average was just about positive, though it closed with a gain of less than 0.1%.Pelosi told …

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• 25 September 2021 12:13 am

  Oil hits highest level as supply tightens

  

  Brent has closed at highest since October 2018, driving NY ULSD futures to hit their highest up in almost three yearsU.S. oil/gas rig count has also risen for 14th month according to Baker Hughes, so, for a third successive week, oil prices have risen to a near three-year high on …

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• 24 September 2021 11:59 pm

  USD/CAD struggles at 1.2700

  

  Market sentiment dampened the appetite for high beta currencies like the Canadian dollar, so, the USD/CAD pair has dropped 40-pips on the back of the climb to new monthly highs recorded by West Texas Intermediate crude oil.In the next week, the Canadian GDP report will be the major focus of …

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• 24 September 2021 11:43 pm

  Closing prices of gold, crude oil and other commodities

  

  The U. S. dollar rose to 110.79 Japanese yen from 110.24 yen. The euro fell to USD 1.1716 from USD 1.1747.U.S. crude oil for November delivery rose 68 cents to USD 73.98 per barrel on Friday. Brent crude oil for November delivery rose 84 cents to USD 78.09 per barrel.Wholesale …

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• 24 September 2021 11:26 pm

  China: All Cryptocurrencies, including Bitcoin, illegal

  

  China’s central bank declared all transactions involving Bitcoin and other virtual currencies illegal on Friday, stepping up a campaign to block use of unofficial digital money. Chinese banks were banned from handling cryptocurrencies in 2013, but the government issued a reminder this year.That reflected official concern cryptocurrency mining and trading …

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• 24 September 2021 11:19 pm

  Senator: China’s Bitcoin crackdown is an opportunity for the U. S.

  

  China’s central bank has deemed all cryptocurrency transactions illegal, sending the Bitcoin price spiraling by 6%. U.S. Senator Pat Toomey believes this is a valuable opportunity for the United States to move out front on cryptocurrency. The People’s Bank of China is broadening its ban on the industry, especially Bitcoin, …

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• 24 September 2021 10:41 pm

  Evergrande brings Chinese economy to a turning point

  

  Evergrande’s debt crisis is a convenient reminder to the world of the various frailties that still run through the Chinese economy.As the property company stumbles, the crucial question is whether those frailties will drag down the world’s second-largest economy. Risks have increased, not just of a slowdown but of permanently …

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• 24 September 2021 10:05 pm

  Canadian and U. S. oil rig counts continue uptrend

  

  Baker Hughes has reported that for the current week ending on 24 September, the US rotary rig count increased by nine to 521 rigs.The Canadian rig count is now up by 91 rigs compared to the same week a year ago.The overall rig count is now up by 260 rigs …

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• 24 September 2021 9:55 pm

  U.S. August’s new home sales beat expectations

  

  Sales of new U.S. single-family homes increased for a second straight month in August, but demand for housing has probably peaked after a COVID-19 pandemic-fueled temporary buying frenzy.Sales increased in August even as sales of existing homes fell. It could be a sign that buyers are turning to newly constructed …

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• 24 September 2021 9:08 pm

  Stocks slip after S&P 500’s best day since July

  

  Stocks declined and gains stopped after equities’ best day since July, with some volatility returning to markets as regulators’ concerns rose in China at least temporarily counterbalance optimism over the U.S. economic recovery.The S&P 500 Index fluctuated between small gains and losses. A day earlier, stocks posted a back-to-back session …

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