Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 10 May 2021 8:08 am

  Weekly Recap: 3-7 May

  

  Last week was full of Data and statements. The US dollar’s decline in favor of risk assets has dominated the markets last week after economic data and monetary policy decisions. US Dollar The week was full of events that led to a noticeable decline in the price of the US …

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• 8 May 2021 12:15 am

  Oil Futures Register Weekly Gains

  

  Oil prices rose on Friday, on the back of positive expectations about demand recovery, despite the weaker than expected April jobs report in the United States. The surging number of new cases of the coronavirus (COVID-19) in India, a major importer of crude oil, are being balanced by easing travel …

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• 7 May 2021 11:45 pm

  Gold Settles at Three-Month High Following Jobs Report

  

  Gold prices rose on Friday, reaching their highest closing level in nearly three months, amid increased demand for safe-haven assets following the release of a relatively disappointing jobs report in the United States. In addition, the U.S. Dollar’s (USD) decline provided more support to the yellow metal. Gold futures for …

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• 7 May 2021 11:00 pm

  Goldman Sachs is Trading Bitcoin Derivatives

  

  Goldman Sachs is reportedly creating a new cryptocurrency trading desk, according to an internal memo first cited by CNBC. The desk has successfully traded two Bitcoin-linked derivatives, as per the cited memo, which was distributed on Thursday to the bank’s markets staff. The idea has been considered since 2017, when …

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• 7 May 2021 10:07 pm

  European Stocks Close Friday at New Record High

  

  European stocks finished higher on Friday, supported by an improved investors’ sentiment due to positive economic data and earnings reports. The STOXX Europe 600 index rose by 0.9%, closing the week at a new record high of 444.93 points, as the tech sector gained 2.1%. For the week, the pan-European …

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• 7 May 2021 9:10 pm

  U.S. Rig Count Reaches Highest Level in a Year

  

  The number of active rigs drilling for crude oil and natural gas in the United States increase for the second consecutive week, according to data by Baker Hughes released on Friday. The total rig count rose by eight to 448 during the week ended May 7, reaching its highest level …

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• 7 May 2021 8:00 pm

  Canada’s Ivey PMI Slows in April

  

  Economic activity in Canada continued to expand during April but a slower pace compared with its highest level in 10 years, which was recorded in March, data showed on Friday. The seasonally adjusted Ivey Purchasing Managers Index (PMI) retreated to a 60.6 in April from a reading of 72.9 in …

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• 7 May 2021 7:32 pm

  U.S. Wholesale Inventories Edge Higher in March

  

  Wholesale inventories in the United States increased less than expected in March, due to a huge surge in sales that resulted from stronger local demand, according to official data released on Friday. A final reading showing that wholsale inventories rose by 1.3%, compared with an initially estimated 1.4% for March, …

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• 7 May 2021 7:02 pm

  Canada’s Unemployment Rate Rises in April

  

  Canada’s economy lost 207,000 jobs last month due to the resurgence of the Coronavirus pandemic, which led to renewed restrictions and lockdown measures, official data showed on Friday. Accordingly, the Canadian unemployment rate increased in April to 8.1% from 7.5% in March, according to Statistics Canada. Data showed that the …

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• 7 May 2021 5:26 pm

  U.S. New Jobs Report Comes Below Expectations in April

  

  The United States economy added fewer jobs than expected during April, official government data showed on Friday. The U.S. Department of Labor monthly report showed that nonfarm payrolls increased by 266,000 jobs last month. This follows a 770,000 increase in March and compared with market expectations of 978,000 new jobs. …

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• 7 May 2021 4:10 pm

  BofA: Stocks Attracted $18.5B This Week

  

  Bank Of America’s analysis of weekly fund flow statistics showed that investors bought a lot of global stocks in the week ending Wednesday, as companies reported huge profits and major central banks downplayed concerns related to a return to monetary stimulus. Equity funds attracted $18.5 billion, which was mainly driven …

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• 7 May 2021 3:32 pm

  The Dollar Near Weekly Low Ahead of The US Jobs Data

  

  The dollar held on Friday, May 7, near its lowest level in a week, as it is under pressure ahead of the release of US jobs data, which is expected to boost hopes for a strong economic recovery after the pandemic and support investors’ appetite for risk. Against a basket …

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• 7 May 2021 3:27 pm

  Oil Rising Thanks to Chinese And US Data, What’s Next?

  

  Oil prices recovered after a 1% drop in the previous session, with the support of positive economic data from China and the United States, but the outbreak of the Covid-19 pandemic in India put pressure on prices. Brent crude futures for July delivery were at $68.40 a barrel, up 31 …

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