Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 7 June 2021 6:49 am

  Weekly Recap: 31 May – 4 June

  

  In the first week of June, markets anticipated the jobs report in the United States, which came below expectations but still showed progress in the recovery from the coronavirus pandemic. The jobs report indicated that it would probably take more time than previously expected before the Federal Reserve begins changing …

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• 5 June 2021 3:05 am

  NYSE Finishes the Week with Gains Following Jobs Report

  

  The New York Stock Exchange (NYSE) closed higher on Friday on the back of positive expectations for economic recovery, despite the May jobs report coming below expectations. The Dow Jones Industrial Average added 179.35 points, or 0.52%, to close at 34,756.39 points. The S&P 500 rose by 37.04 points, or …

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• 5 June 2021 2:33 am

  Oil Futures Settle at Two-Year Highs

  

  Oil prices rose on Friday and ended the week at to their highest levels in about two years, supported by expectations for demand recovery during the second half of the year. Brent crude futures for August delivery rose by 58 cents, or 0.8%, to finish at $71.89 per barrel, rising …

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• 5 June 2021 2:20 am

  Gold Rebounds but Fails to Recover All Weekly Losses

  

  Gold prices finished higher on Friday, as the May jobs report in the United States came below expectations, which signaled that it would probably be more time before the Federal Reserve begins changing its current policies. The yellow metal futures for August delivery rose by $18.70, or 1%, to close …

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• 4 June 2021 11:28 pm

  Fed’s Powell: Climate Change Not Considered in Policy Setting

  

  The Chairman of the U.S. Federal Reserve, Jerome Powell, said on Friday that the central bank is not something that plays a major role in setting the central bank’s policy. “Today, climate change is not something that we directly consider in setting monetary policy.” “All of those things can affect …

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• 4 June 2021 10:11 pm

  U.S. Rig Count Declines First Time in Six Weeks

  

  The number of active rigs drilling for crude oil and natural gas in the United States declined for the first time in six weeks, data showed on Friday. A decline by a single rig led the total rig count to reach 456 this week, with oil rigs maintaining their level …

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• 4 June 2021 9:02 pm

  Canada’s Ivey PMI Rises in May

  

  The Canadian seasonally adjusted Ivey Purchasing Managers’ Index (PMI) increased in May to 64.7 from 60.6 in April, data showed on Friday. The employment index leveled up to 67.0 from 58.0, while the inventories index rose to 65.3 from 59.4 in the previous month. The supplier deliveries index fell to …

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• 4 June 2021 7:21 pm

  U.S. Factory Orders Drop in April

  

  New U.S. factory orders declined by more than expected in April, falling by 0.6%, following a rise of 1.4% in March, amid the global shortage in semiconductors, data showed on Friday. On an annual basis, factory orders surged by 14.2%, according to the U.S. Department of Commerce. April’s reading of …

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• 4 June 2021 5:35 pm

  EUR/USD Rebounds to 1.2160 on Soft NFP Figures

  

  Buying interest around the EUR/USD subsides and is pushing the pair back into the 1.2160 region following the lower-than-expected US Non-Farm Payrolls report. The EUR/USD pair reversed the initial decline on Friday after data showed that the US economy created 559K jobs in May, below expectations of 650K jobs. At …

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• 4 June 2021 4:43 pm

  Canada: Unemployment Rate Rises to 8.2% in May

  

  The Unemployment Rate in Canada edged higher to 8.2% in May from 8.1% in April with the Net Change in Employment falling by 68,000, compared to market expectation of -20,000, the data published by Statistics Canada showed on Friday.

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• 4 June 2021 4:39 pm

  US Nonfarm Payrolls Rise by 559,000 in May

  

  the data published by the US Bureau of Labor Statistics showed on Friday that Nonfarm Payrolls (NFP) in the US rose by 559,000 in May. This reading followed April’s figure of 278,000 and came in worse than the market expectation of 650,000.

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• 4 June 2021 4:22 pm

  A Representative of The Chinese Foreign Ministry: The United States Must Respect The Rule of Law

  

  A representative of the Chinese Foreign Ministry said that the United States should respect the rule of law and the market, correct its mistakes, and stop actions that undermine the global financial market system and the legitimate rights and interests of investors. The statement came after President Joe Biden on …

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• 4 June 2021 3:29 pm

  Oil Advances Towards $72, Supported by Demand Expectations

  

  Oil rose towards $72 a barrel on Friday, June 4, to trade near its highest level in two years, as the OPEC+ plan on supplies and recovering demand overshadowed concerns about the irregular activity of vaccinations against Covid-19 globally. The Organization of the Petroleum Exporting Countries (OPEC) and its allies …

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