Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 24 February 2021 11:38 pm

  Gold Prices Fall for Second Day

  

  Gold prices declined on Wednesday for the second consecutive session, losing the important $1,800 support level. The decline in the yellow metal prices came amid a continuous rise in the U.S. Treasury bond yields that reached their highest level in about a year. Gold futures for April delivery declined by …

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• 24 February 2021 11:32 pm

  Fed Chair Tells Congress Achieving Targets Could Require Three Years

  

  Chairman of the United States Federal Reserve, Jerome Powell, told the House of Representatives that the Fed will only raise interest rates when the economy achieves the employment and inflation targets. In his testimony to the House Financial Services Committee, Powell said that the Fed is in no hurry to …

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• 24 February 2021 11:11 pm

  Bitcoin Rises Nearing $49,600

  

  Bitcoin returned to gains on Wednesday, following a steep decline on Tuesday that erased all of its weekly gains. The world’s largest cryptocurrency is up by 4.67% at $49,580.6, reducing its losses during the past seven days to 3.34%. Earlier today, the digital currency exceeded the $50,000 level. Square, a …

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• 24 February 2021 10:54 pm

  U.S. Oil Inventories Rise 1.3 M Barrels in Week

  

  Crude oil inventories in the United States rose by 1.3 million barrels last week, data by the U.S. Energy Information Administration (EIA) showed on Wednesday. Meanwhile, gasoline stockpiles remained nearly virtually unchanged, while distillate inventories declined by 5 million barrels in the week ending February 19. However, oil prices continued …

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• 24 February 2021 9:37 pm

  European Stocks Close Higher on Positive Data

  

  European stocks closed higher on Wednesday, supported by positive economic data and a good performance by most market sectors. The STOXX Europe 600 index rose by 0.45% to close at 413.19 points. The German DAX finished higher by 0.80%, while the French CAC40 index gained 0.31%. Meanwhile, the UK’s FTSE100 …

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• 24 February 2021 7:43 pm

  U.S. New Home Sales Rise in January

  

  New single-family home sales in the United States increased in January, data showed on Wednesday. This comes as the housing market in the U.S. continues to show strong activity, amid low mortgage rates and limited supply. New home sales grew by 4.3% to a seasonally adjusted annual rate of 923,000 …

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• 24 February 2021 5:48 pm

  The DIW Research Institute Expects Germany’s Economy to Contract by 1.5% in Early 2021

  

  The German Institute for Economic Research (DIW) said that Germany’s economy may shrink by about 1.5% at the beginning of the year, in light of the great damage that the general isolation measures to reduce Coronavirus infections affect the largest economy in Europe. The institute added that the high number …

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• 24 February 2021 5:15 pm

  Strong Exports And Construction Boost The German Economy in The Q4 of 2020

  

  Strong exports and solid construction activity helped the German economy grow 0.3%, better than expected, in Q4 of last year, but tightening isolation measures in the country and abroad clouded the prospects for Europe’s largest economy. The data released by the Federal Statistics Office today, Wednesday, represents an upward revision …

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• 24 February 2021 3:35 pm

  UK PM Johnson: We Must Live With COVID-19 Like The Flu in Long Term

  

  British Prime Minister Boris Johnson said Monday that people should live with the Coronavirus in the long term just as they do with the flu with a vaccine available, adding that there are no supply problems affecting the doses at the present time. The only reason I’m able to say…we …

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• 24 February 2021 3:00 pm

  Bitcoin Rises Again Above $50

  

  Bitcoin returned to trade above $50,000 on Wednesday, after a sharp sell-off in the previous two sessions, after Square announced the purchase of $170 million in Bitcoin as part of its ongoing commitment to the cryptocurrency. The cryptocurrency lost 15% of its record high earlier in the week due to …

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• 24 February 2021 1:46 pm

  European Stocks Rise on to Positive Data From Germany And AstraZeneca

  

  European stocks rose on Wednesday, February 24th, supported by better-than-expected growth for the German economy, but gains were limited by concerns about a possible increase in inflation and higher equity valuations. Official data showed that rising exports and strong construction activities helped the German economy grow at a stronger rate …

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• 24 February 2021 1:05 pm

  The Turkish Lira is at Its Lowest Level in 3 Weeks

  

  The Turkish lira reached its lowest level against the dollar in nearly three weeks on Wednesday, February 24th, to remain under pressure after the government defended the policies of the former finance minister. In light of the weakness, the central bank raised the compulsory reserve ratio for deposits in the …

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• 24 February 2021 12:39 pm

  API: A Sudden Increase in Oil Inventories Last Week

  

  Data from the American Petroleum Institute showed, Tuesday, that oil inventories in the United States increased unexpectedly last week as refiners cut back activity due to a wave of severe cold that hit the US Gulf Coast region. Crude inventories increased by one million barrels in the week ending February …

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