Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 5 February 2021 7:50 pm

  Canada’s Ivey PMI Rises in January but Shows Contraction

  

  Economic activity in Canada continued to contract during January for the second consecutive month, data showed on Friday. Although the seasonally adjusted Ivey Purchasing Managers Index (PMI) increased to a reading of 48.4 last month, from 46.7 in December, it remained below the 50 mark that indicates expansion. The Ivey …

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• 5 February 2021 5:59 pm

  Canada: Unemployment Rate Rises to 9.4% in January

  

  The Unemployment Rate in Canada rose to 9.4% in January from 8.8% (revised from 8.6%) in December with the Net Change in Employment declining more than 212,000 (vs -47.5K expected), the data published by Statistics Canada revealed on Friday. This reading came in worse than the market expectation of 8.9%. 

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• 5 February 2021 5:58 pm

  US Nonfarm Payrolls (NFP) Rise by 49,000 in January

  

  Nonfarm Payrolls (NFP) in the US increased by 49,000 in January, the data published by the US Bureau of Labor Statistics showed on Friday. This reading came in largely in line with the market expectation of 50,000. On a negative note, December’s reading got revised down to -227,000 from -140,000.

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• 5 February 2021 5:09 pm

  Turkish Lira Jumped After The Central Bank Chief Ruled Out a Rate Cut

  

  The Turkish lira reached its strongest level since August, Friday, February 5, and strengthened its position as the best performing currency in the world since the beginning of the year, after the central bank governor told Reuters that it was unlikely to cut interest rates for a “long period”. In …

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• 5 February 2021 4:01 pm

  US Dollar on The Way to Its Best Weekly Performance in 3 Months

  

  The dollar is heading towards recording its best weekly performance in three months Friday, February 5th, driven by growing confidence that the US economic recovery will surpass its global peers. The dollar index touched its highest level in two months in Asian trading in light of indications of the strength …

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• 5 February 2021 2:40 pm

  Robinhood Lifts Trading Restrictions on Gamestop and AMC Stocks

  

  Robinhood said it has removed trading restrictions on GameStop and AMC stocks, which have been the basis of the battle between the small traders who organized on Reddit and short sellers, according to an update on the trading platform’s support page. Robinhood’s move comes one day after it increased restrictions …

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• 5 February 2021 2:06 pm

  Nonfarm Payrolls Preview: Forecast From 6 Major Banks

  

  The US jobs report for January is due out at 13:30 GMT. here are the forecasts of economists and researchers of 10 major banks regarding the upcoming employment data. Deutsche Bank “Our US economists are now forecasting a +200K increase in nonfarm payrolls after total jobless claims fell by 1.73 …

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• 5 February 2021 1:16 pm

  European Stocks Rise in Early Trading

  

  European stocks rallied Friday (February 5th), tracking optimistic sentiment on Wall Street thanks to hopes for a faster global economic recovery, while stocks in Frankfurt lagged in performance after data showed a decline in industrial orders. The European Stoxx600 index gained 0.2% and is on track to post its longest …

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• 5 February 2021 12:31 pm

  German Factory Orders Fall More Than Expected in December

  

  Data revealed that German factory orders decreased more than expected on a monthly basis in December, as the impact of restrictions imposed to combat the Coronavirus reduced demand from the rest of the euro area. The data published by the Federal Statistics Office showed that orders for the supply of …

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• 5 February 2021 2:16 am

  Dogecoin Surges Following Tweets by Elon Musk

  

  Fringe cryptocurrency Dogecoin surged on Thursday, following a number of Tweets from famous billionaire and CEO of Tesla and SpaceX Elon Musk. Musk is famous for his social media presence, which often causes some sort of controversy. Mark Cuban, another famous billionaire investor has also recently tweeted about the digital …

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• 5 February 2021 2:01 am

  Yellen Discusses Recent Trading Frenzy in Wall Street

  

  The United States Secretary of the Treasury, Janet Yellen, is discussing with market leaders the recent fluctuations in the stock market due to speculation trading. Yellen is holding a meeting with the heads of the Securities and Exchange Commission (SEC), Federal Reserve Board, Federal Reserve Bank of New York, and …

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• 5 February 2021 1:54 am

  Wall Street Maintains Gains and S&P 500 Hits New All-Time High

  

  The New York Stock Exchange (NYSE) maintained its positive performance on Thursday, supported by positive financial results disclosed by a number of leading listed companies, as well as a positive sentiment in Wall Street regarding economic recovery from the Coronavirus pandemic. The Dow Jones Industrial Average gained 332.2 points, or …

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• 5 February 2021 12:46 am

  Oil Maintains Gains for Fifth Session in a Row

  

  Oil prices maintained their rising trend and ended Thursday at a fresh highest level in about a year, supported by the commitment of the OPEC+ alliance to output cuts and the prospects of economic recovery and increased government stimulus in the United States. Brent crude futures for April delivery gained …

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