Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 9 June 2021 5:28 pm

  China Begins Implementing Government Decisions to Stop Bitcoin Mining

  

  The authorities in China’s Zhangjiajie Province on Wednesday issued a notice to officials in one of the prominent bitcoin mining centers in the region to stop all their activities related to mining bitcoin and cryptocurrencies. The notification to the authorities stated that the new instructions were based on the strict …

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• 9 June 2021 4:28 pm

  El Salvador Becomes First Country to Adopt Bitcoin as Legal Tender

  

  El Salvador has become the first country to adopt bitcoin as a legal currency after lawmakers in Congress voted overwhelmingly in favor of the bitcoin law. The purpose of this law is to regulate bitcoins as a legal currency with unrestricted liberalization authority, and unlimited in any transaction. Prices can …

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• 9 June 2021 3:00 pm

  Currencies Overview: The Dollar Clings to Its Recent Gains Before Inflation And ECB Meeting

  

  The dollar clung to its recent gains on Wednesday, June 9, as traders awaited US inflation data and the European Central Bank meeting to gauge the pace of global recovery and learn what policy makers are thinking about reducing stimulus programs. The meeting is scheduled to be held, and inflation …

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• 9 June 2021 1:58 pm

  Gold Looking For Direction Before The ECB Meeting And US Data

  

  Gold moved within a narrow range during trading Wednesday, June 9, as investors awaited more data on US inflation and indicators on monetary policy from the European Central Bank, while weaker Treasury yields provided some support for the yellow metal. The benchmark 10-year US Treasury yields are hovering near the …

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• 9 June 2021 1:30 pm

  Oil Prices Rise Thanks to Signs of a Strong Recovery in Fuel Demand

  

  Oil prices rose for a second session on Wednesday, June 9, thanks to indications of strong demand for fuel in Western economies, while prospects for a return of Iranian supplies dissipated as the US Secretary of State said sanctions against Tehran were unlikely to be lifted. Brent crude futures rose …

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• 9 June 2021 12:59 pm

  Japan Shares Close Lower Ahead of US Inflation Data

  

  Japanese shares closed lower on Wednesday, June 9, on profit-taking sales of shipping and semiconductor shares, while investors awaited US inflation data that may have an impact on when the US Federal Reserve will reduce its stimulus program. Financial sector stocks and insurance companies fell after the decline in US …

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• 9 June 2021 12:07 pm

  USD/CAD Forecast: Watch BoC decision For Some Clues

  

  The USD/CAD pair got some positive momentum on Tuesday to rise above the 1.2100 level, and the positive move was supported by the modest strength of the US dollar. However, crude oil prices supported the commodity-linked Canadian dollar and acted as a buffer to any quick rally. Investors remain concerned …

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• 9 June 2021 11:08 am

  Bank of Canada Preview: Forecast From 4 Major Banks

  

  The Bank of Canada is set to leave rates unchanged at 0.25% and provide more information about its announcement to taper down its bond buys at 14:00 GMT. Here is the coverage of different banks ING“We expect the BoC 9 June meeting to be quite uneventful and to have a …

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• 9 June 2021 10:46 am

  China Strongly Opposes US Bill Addressing Beijing’s Tech Threat

  

  China’s parliament expresses strong indignation and resolute opposition to the US bill addressing technology threat from Beijing, per Xinhua News Agency. China’s response comes after “the US Senate voted 68-32 on Tuesday to approve a sweeping package of legislation intended to boost the country’s ability to compete with Chinese technology,” …

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• 9 June 2021 10:21 am

  China’s PPI Beats Expectations

  

  China’s producer price index for May rose 9% from a year earlier, against expectations of an increase of 8.5% in a Reuters poll, marking the strongest rise for the index since 2008, when the index rose 9.13% in September. The country’s consumer price index in May rose 1.3% from a …

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• 9 June 2021 4:21 am

  A Closer Look into April’s JOLTS Report

  

  Job openings in the United States surged in April to a new record, with the economy showing more signs of recovery from the coronavirus pandemic. Reopening businesses and an increased rollout of vaccines have helped economic activity create more work opportunities. The Job Openings and Labor Turnover Survey (JOLTS) showed …

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• 8 June 2021 6:06 pm

  World Bank: Global Growth to Reach 5.6% in 2021

  

  In its latest Global Economic Prospects report, the World Bank said it forecasts the global economic growth to reach 5.6% in 2021, the strongest post-recession pace in 80 years, following the 3% contraction recorded in 2020, per Reuters.

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• 8 June 2021 5:25 pm

  Canada: International Trade Surplus Widens to C$0.59 Billion in April

  

  Canada’s merchandise trade surplus with the world widened to C$0.59 billion in April from a deficit of C$1.35 billion in March, the monthly data published by Statistics Canada revealed on Tuesday. This reading came in better than the analysts’ estimate for a deficit of C$0.8 billion.

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