Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 8 June 2021 4:00 pm

  German ZEW Economic Sentiment Index Drops Unexpectedly to 79.8

  

  The German ZEW headline numbers for June showed that the Economic Sentiment Index worsened unexpectedly to 79.8 from 84.4 previous while beating estimates of 86.0. Meanwhile, the Current Conditions sub-index recovered firmly to -9.1 in June as against -40.1 recorded in the previous month and -27.8 expectations.

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• 8 June 2021 3:09 pm

  Bitcoin Records a Record Outflow of 141 Million Dollars in a Week

  

  Data from cryptocurrency management CoinShares released Monday showed that bitcoin funds and products saw a record outflow of inflows last week as investors remained wary of the world’s largest cryptocurrency. Bitcoin outflows amounted to $141 million in the week ending June 4th, representing 8.3% of the net inflows it attracted …

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• 8 June 2021 2:21 pm

  German Industrial Output Fell by 1%, Contrary to Expectations in April

  

  German industrial output unexpectedly fell in April, data showed, in a sign that semiconductor shortages and other supply bottlenecks are undermining the recovery of Europe’s largest economy. The Federal Statistics Office said industrial output fell 1% compared to the previous month, after an increase that was revised down to 2.2% …

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• 8 June 2021 1:36 pm

  Utilities And Telecommunications Support European Shares

  

  European shares rose on Tuesday, June 8, boosted by utilities and telecoms companies, but weak German industrial output and doubts about a UK lifting of restrictions later this month capped gains. The European Stoxx600 index rose 0.2% by euro morning, holding below its highest level ever, while sectors considered more …

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• 8 June 2021 1:07 pm

  Oil Falls on Doubts About Recovery in Demand

  

  Oil prices extended losses on Tuesday, June 8, as Chinese data revealing a decline in the country’s imports of crude in May highlighted concern about the fragility of the global recovery in demand for crude and fuel. Brent crude was down 49 cents, or 0.7%, at $71 a barrel, after …

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• 8 June 2021 12:33 pm

  Gold Falls Due to The Rise in The Dollar And The Focus on US Inflation

  

  Gold fell Tuesday, June 8 as the dollar rose, while investors cautiously awaited economic data due this week to assess inflation pressures and the US Federal Reserve’s stance on monetary policy. And gold fell in spot trading 0.1% to $ 1896.94 an ounce, while gold settled in futures trading in …

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• 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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