Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 8 June 2021 6:55 am

  Republicans Oppose G7 Minimum Corporate Tax Deal

  

  Recent media reports have pointed to growing opposition, within Republicans in the United States Senate, against the recent deal that the G7 summit announced to establish an agreement among major economies on a minimum corporate tax rate. The move comes shortly after the Republican Party came against the proposal of …

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• 8 June 2021 6:36 am

  Debate over the Use of Cryptocurrencies in Illegal Activities Resurfaces

  

  Once again, cryptocurrency took center stage in today’s news with the United States government seizing a ransom paid in Bitcoin, which also came under new scrutiny by authorities in the United Kingdom. The U.S. Department of Justice has reportedly recovered $2.3 million worth of cryptocurrency that was paid as a …

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• 8 June 2021 3:09 am

  NYSE Closes Mixed with Nasdaq Rising

  

  The New York Stock Exchange (NYSE) showed a mixed performance on Monday, with high Treasury bond yields and anticipation for the upcoming inflation data dominating the market in the beginning of the week. The Dow Jones Industrial Average closed down by about 126 points, or 0.36%, at 34,630.24 points. The …

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• 7 June 2021 11:50 pm

  U.S. Treasury Bond Yields Begin Week with Rise

  

  Treasury bond yields in the United States rose on Monday, with markets gearing up in expectation for the upcoming inflation data. Reflation fears amid fiscal and monetary support with huge stimulus packages have recently resurfaced, despite the Federal Reserve expecting the recent surge in consumer prices to be temporary. The …

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• 7 June 2021 11:37 pm

  Oil Finishes Lower as Chinese Imports Plummet

  

  Oil prices closed lower on Monday, giving up their two-year highs that were registered by the end of last week. A drop in Chinese oil imports might have discouraged the positive expectations for demand recovery in the coming months. Brent crude futures for August delivery declined by 40 cents, or …

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• 7 June 2021 10:03 pm

  Gold Closes Higher Below $1,900

  

  Gold prices rose on Monday, for the second consecutive session, but once again failed to restore the key $1,900 level. The yellow metal’s rise was limited by the rising Treasury bond yields. Gold futures for August delivery gained $6.80, or 0.4%, to finish at $1,898.80 per ounce. Silver futures for …

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• 7 June 2021 9:31 pm

  European Stocks Finish at New Record High

  

  European stocks rose on Monday, to begin the new week with a positive performance, hitting a new all-time record high. The STOXX Europe 600 index added 0.22% and finished at 453.56 points. Strong gains by the auto sector, which reached its best level since March 2015, provided support for the …

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• 7 June 2021 7:53 pm

  Wall Street Indices Mostly Lower in Early Trading

  

  The main indices of the New York Stock Exchange (NYSE) opened mostly lower on Monday, amid a rise in the U.S. Treasury bond yields. In addition, Wall Street investors are anticipating a series of important economic data this week, which will reflect the state of economic recovery from the Coronavirus …

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• 7 June 2021 6:17 pm

  China’s Imports in May Grow at The Fastest Pace in a Decade as Raw Material Prices Soar

  

  China’s imports grew in May at the fastest pace in a decade, driven by higher demand for raw materials, although export growth slowed more than expected amid delays caused by COVID-19 infections in the country’s ports. While the rapid recovery in developed markets boosted demand for Chinese products, the outlook …

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• 7 June 2021 5:47 pm

  Dollar Struggles to Gain Traction as Markets Await Inflation Data

  

  The dollar stabilized on Monday after losses suffered on Friday following the release of US jobs data that came in below expectations, while currency markets, in general, lacked momentum as investors awaited important inflation data this week. The jobs data was seen as a relief to the markets as it …

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• 7 June 2021 4:54 pm

  G-7 Nations Reach Historic Deal on Global Tax Reform, What is it?

  

  The Group of Seven developed nations agreed over the weekend to a minimum global corporate tax rate of at least 15% as part of a broader deal on how to tax multinational companies such as Amazon and Google. German Finance Minister Olaf Scholz described the deal as “historic.” “It is …

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• 7 June 2021 3:42 pm

  Gold Falls With The Rise of The Dollar And Attention Turns to US Inflation Data

  

  Gold fell today with the dollar slightly higher, as investors’ focus shifted to US inflation data due this week, which may give some indication of the extent to which the Federal Reserve will continue to refrain from reducing monetary support. The dollar rose 0.1%, making gold more expensive for holders …

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• 7 June 2021 3:06 pm

  Oil Retreats From Two-Year Peak Above $72 on Iran Supply Worries

  

  Oil fell on Monday, after hitting a two-year peak above $72, on pressure from a possible increase in Iran’s exports, but the recovery in demand and supply restrictions from OPEC + provided some support. Demand increases in the United States and Europe with the easing of restrictions related to COVID-19, …

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