Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 5 May 2021 3:20 pm

  Eurozone Business Growth Accelerated in April

  

  Business activity accelerated in the euro area last month, as the dominant service sector in the region ignored renewed lockdown measures and resumed growth, according to a survey on Wednesday that also indicated that companies are facing rising raw material costs. Europe is facing a third wave of the Coronavirus, …

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• 5 May 2021 3:10 pm

  European Stocks Rebound After Selling Spree as Mining Sector Jumps

  

  European stocks recovered on Wednesday May 5th from a sharp sell-off in the previous session, as higher commodity prices contributed to the rise in mining companies’ shares, while the business results season maintained positive momentum, improving sentiment in the markets. The European Stoxx600 index rose 0.8% in early trade, the …

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• 5 May 2021 2:35 pm

  The Dollar Finding it Difficult to Continue Its Gains Amid Talk of a Possible US Interest Rate Hike

  

  The dollar tried to extend its gains Wednesday May 5th amid talk of a possible US interest rate hike and a wave of tech stocks selling undermining risk appetite. Yesterday’s recovery in the dollar pressured the euro, which fell to $1.2021 and threatens to break an important support range between …

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• 5 May 2021 1:45 pm

  Canadian Province of Alberta Confirms First Death Related to AstraZeneca Vaccine – Reuters

  

  The head of the medical sector in the Canadian province of Alberta said in a statement that the province witnessed the first death related to the AstraZeneca vaccine against Covid-19 disease. Late on Tuesday, he said that a woman in her 50s had died after being injected with the vaccine. …

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• 5 May 2021 1:15 pm

  Gold Prices Are Rising as Appetite Strengthens Supporting The Dollar’s Decline

  

  Gold prices rose on Wednesday, May 5, supported by the dollar’s decline, but the gains were limited after US Treasury Secretary Janet Yellen said interest rates may need to be raised. Spot gold rose 0.2% to 1,781.13 dollars an ounce. US gold futures rose 0.3% to $1781.50. The dollar index …

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• 5 May 2021 12:46 pm

  Oil Prices Rise After Sharp Drop in US Crude Inventories

  

  Oil prices rose on Wednesday, May 5, continuing the gains from the previous session after industry data indicated that US crude inventories fell by much more than expected last week, reinforcing positive views of fuel demand in the world’s largest economies. US West Texas Intermediate crude futures rose 48 cents, …

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• 5 May 2021 4:34 am

  How Wall Street Reacted to Rate Hike Talks and Rising Local Demand?

  

  The main indices of the New York Stock Exchange (NYSE) showed a mixed performance on Tuesday, amid concerns among Wall Street investors about the prospects of higher interest rates. The tech sector continued with a downward trend after the U.S. Treasury Secretary suggested raising interest rates might be needed to …

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• 5 May 2021 1:40 am

  Oil Closes Higher on Positive Expectations

  

  Oil prices rose on Tuesday for the second consecutive session, supported by positive expectations about easing preventive measures against the Coronavirus pandemic. Brent crude futures for July delivery gained $1.32, or 2%, to close at $68.88 per barrel. Meanwhile, the U.S. West Texas Intermediate (WTI) June futures increased by $1.20, …

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• 5 May 2021 1:04 am

  Gold Finishes Lower as USD Rises

  

  Gold closed lower on Tuesday, after remarks by the U.S. Treasury Secretary, Janet Yellen, pointed to a possible interest rate hike to prevent the economy from overheating. Recent remarks by Fed officials indicated that despite recovery signs the economy is yet to achieve the central bank’s employment and price stability …

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• 5 May 2021 12:54 am

  Yellen: Interest Rates Might Need a Raise

  The United States Secretary of the Treasury, Janet Yellen, suggested on Tuesday that raising interest rates might be necessary in order to avoid the economy overheating amid increased government stimulus spending and investment plans. “It may be that interest rates will have to rise somewhat to make sure that our …

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• 4 May 2021 11:18 pm

  European Stocks Close Lower as Tech Sector Drops

  

  European stocks dropped on Tuesday, mainly due to large losses by the tech sector that echoed the decline of tech stocks in Wall Street across the Atlantic. The pan-European STOXX 600 index fell by 1.5%, with the technology sector losing about 3.8% in its worst daily performance since October 2020. …

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• 4 May 2021 7:19 pm

  U.S. Factory Orders Grow in March

  

  New factory orders in the United States increased in March, supported by an improving local demand. In addition, business spending on equipment exceeded market expectations, data showed on Tuesday. Factory orders rose by 1.1% in March, following a 0.5% decline in February, according to the U.S. Department of Commerce. Unfilled …

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• 4 May 2021 7:12 pm

  Canada’s Building Permits Rise in March

  

  Building permits in Canada increased in March compared with the month before, data showed on Tuesday. In March, the total value of Canadian building permits surged by 5.7% on a monthly basis to reach a seasonally adjusted level of CAD 10.9 billion, according to data by Statistics Canada. February’s reading …

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