Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2021

• 24 November 2021 2:55 am

  Canadian Dollar Surges on Oil Prices

  

  The Canadian dollar benefited from the rise in global oil prices, despite the Biden administration’s announcement to release 50 million barrels of US strategic oil reserves in an attempt to tame the sharp rises in fuel prices in the United States.The Canadian dollar rose, pushing the USD/CAD pair down, to …

  Read More »
• 24 November 2021 2:37 am

  Wall Street Indices Edge lower

  

  The Dow Jones Industrial is the main winner of Tuesday’s US session. Higher US Treasury yields have impacted heavy-tech company earnings, spurring a selloff of tech stocks. During the New York session, major US equity indices edged lower as Wall Street approaches the close. The S&P 500 loses 0.35%, sitting …

  Read More »
• 24 November 2021 2:23 am

  Oil Prices Surge Despite Tapping US SPR

  

  Oil futures rose sharply Tuesday after the Biden administration announced a coordinated, US-led effort by energy consuming countries to release strategic crude reserves.The coordinated move had been well-telegraphed. News reports speculating on potential releases from the Strategic Petroleum Reserve and talk of a coordinated effort, lately joined by India, and …

  Read More »
• 24 November 2021 1:21 am

  The US Dollar Witnesses A Real Rally

  

  The US dollar extended its gains, reaching fresh 2021 highs vs the EUR and the GBP. EUR/USD bottomed for the day at 1.1225, while GBP/USD fell to 1.3341. The sour tone of global indexes and higher government bond yields fueled demand for the safe-haven dollar.Bank of England governor Andrew Bailey …

  Read More »
• 24 November 2021 12:15 am

  BoC Raises Concerns Over Inflation

  

  Canadians high household debt levels are becoming a persistent concern despite the massive fiscal support offered by the federal government during the COVID-19 pandemic according to statements by a senior Bank of Canada official, Tuesday.Deputy Governor Paul Beaudry said the prevalence of highly indebted households, which are defined as those …

  Read More »
• 24 November 2021 12:00 am

  EUR/USD Opens Risk To 1.1000, FOMC Minutes Eyed

  

  On Tuesday, the EUR/USD pair is slightly up by 0.14% after moving from a 1.1226 low and reaching as high as 1.1275. However, not much more can be expected on a day where markets are subdued ahead of the Thanksgiving Day holiday Thursday in the US and key data Wednesday. …

  Read More »
• 23 November 2021 11:16 pm

  U.K. Flash PMI Reflects Sustained Robust Output And Jobs Growth

  

  Output growth across manufacturing and services measured by the PMI surveys came in slightly faster than expected in November.Solid service sector growth that far exceeded the pre-pandemic long-run average contrasted with only modest production growth in the manufacturing sector.Employment rose for the ninth successive month in November, according to the …

  Read More »
• 23 November 2021 10:58 pm

  Treasury Yields Higher As Fed Expected To Act On Inflation

  

  US Treasury yields edged higher in uneven trading in a holiday-shortened week on Tuesday as investors prepared for the Federal Reserve to become more aggressive in fighting inflation after Biden nominated its chair Jerome Powell for a second term. The yield on 10-year Treasury notes was up 3.1 basis points …

  Read More »
• 23 November 2021 9:02 pm

  Haskel: BofE Should Be Watchful On Labour Costs

  

  Policymaker Jonathan Haskel indicated, Tuesday, that the Bank of England needs to be watchful about rising labour costs as a tight job market means wages might rise faster than productivity and put upward pressure on inflation.BoE Governor Andrew Bailey says interest rates are likely to rise and investors see a …

  Read More »
• 23 November 2021 8:43 pm

  French fishermen Threaten Action Amid Stalling Brexit Talks

  

  French fishermen are planning actions, including possibly blocking British vessels’ access to French ports, in protest against Britain’s refusal to grant them more licenses to operate in UK territorial waters, fishermen said on Tuesday.France and Britain have been at loggerheads for months over how many licenses French fishermen should get …

  Read More »
• 23 November 2021 8:05 pm

  US Factory Activity Growth Kept Pace in November

  

  Manufacturing activity in the central Atlantic region of the U.S. surged in November at broadly the same pace as in October, according to a survey compiled by the Federal Reserve Bank of Richmond released Tuesday.The Fifth District Survey of Manufacturing Activity’s composite index in November is 11, down from 12 …

  Read More »
• 23 November 2021 7:46 pm

  Biden to Address State of US Economy

  

  Americans await a new address by President Joe Biden on the state of the US economy. Biden’s speech comes as prices soar 6.2% over the past 12 months.54% of Americans say cost of groceries and gas is a major crisis. Biden to release 50m barrels of reserve oil in effort …

  Read More »
• 23 November 2021 7:37 pm

  PMI Survey: US Economic Growth Slowed Slightly in November,

  

  US private sector growth remained robust in November, although losing some pace as activity slowed among services providers, according to a survey of purchasing managers.The flash US composite output index decreased to 56.5 in November from 57.6 in October, a two-month low, according to data from IHS Markit released Tuesday. …

  Read More »