Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 20 January 2021 6:31 pm

  USD Rises Ahead of Biden Inauguration

  

  The U.S. Dollar (USD) is showing a positive performance in the early trade of the American session on Wednesday ahead of the inauguration of President-elect Joe Biden. The Dollar Index (DXY), which measures the greenback performance against a basket of six international peers, is up marginally by 0.05% at 90.54. …

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• 20 January 2021 5:48 pm

  EIA expects US Shale oil Production to Fall by 90,000 BPD in February

  

  The US Energy Information Administration said in a monthly report, Tuesday, that US oil production from the seven major shale formations is expected to decline by about 90 thousand barrels per day in February to about 7.52 million barrels per day. The data showed that production in nearly every rocky …

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• 20 January 2021 5:37 pm

  Canada: Annual CPI Eases to 0.7% in December

  

  Inflation in Canada, as measured by the Consumer Price Index (CPI), fell 0.2% MoM in December, data published by Statistics Canada showed on Wednesday. On a yearly basis, the CPI eased to 0.7% as against consensus estimates pointing to a reading of 1%. The readings were well below market expectations. …

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• 20 January 2021 5:35 pm

  Turkey Borrowing $ 3.5 Billion From Issuing International Bonds

  

  The Turkish Treasury said on Wednesday that it had borrowed $ 3.5 billion from a double-tranche international bond issue and had received more than $ 15 billion in demand. It added that the return on the five-year tranche is 4.90%, while the return on the ten-year tranche is 5.95%. The …

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• 20 January 2021 5:33 pm

  House Prices Increased at The Fastest Pace Since Mid-2016

  

  Official data revealed today, Wednesday, that British house prices increased in November at the fastest pace since June 2016, as the rise in the housing market due to the Corona pandemic is likely to be near its peak. The Office for National Statistics said house prices rose 7.6% year-on-year in …

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• 20 January 2021 4:42 pm

  Oil Exceeds $56 Thanks to US Stimulus Hopes Ahead of Biden’s Inauguration

  

  Oil prices exceeded $56 a barrel today, Wednesday, with the support of expectations that the new US administration will adopt huge stimulus spending to boost demand, as well as restrictions imposed by OPEC on production and expectations of lower US crude stocks. On Tuesday, US Treasury Secretary Candidate Janet Yellen …

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• 20 January 2021 4:39 pm

  Eurozone Final CPI Meets Estimates in December

  

  According to Eurostat’s final reading of the Eurozone CPI report for December, the consumer prices came in at -0.3% on a yearly basis, meeting the flash estimate of -0.3% and -0.3% expectations. While the core figures rose by 0.2% versus +0.2% previous and +0.2% expectations.

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• 20 January 2021 2:53 pm

  GBP/USD Soars Above 1.37, Highest Since 2018

  

  GBP/USD has jumped above 1.37, hitting a new 2021 high at 1.3711. Cable has surpassed its previous high of 1.3711 and trades at the highest since 2018.

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• 20 January 2021 2:39 pm

  Currencies Overview: Dollar Facing Pressure as Sentiment Revives Supported by Hopes of Fresh Stimulus

  

  The US dollar faces limited pressure in Asia today, Wednesday, while the euro is receiving some support, as investors are enthusiastic as political tension subsides in Italy, sentiment improves in Germany, and a renewed focus on spending to mitigate the repercussions of the Corona pandemic in the United States. The …

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• 20 January 2021 2:07 pm

  Gold is Gaining as The Dollar Weakens on US Stimulus Outlook

  

  Gold prices rose today, Wednesday, as the dollar retreated after Janet Yellen, a candidate for the position of US Treasury Secretary, stressed the need for a major stimulus to help the economy recover from the Coronavirus crisis, which boosted the demand for the yellow metal as a hedge. On Tuesday, …

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• 20 January 2021 1:48 pm

  Saudi Arabia Bypasses Russia, Consolidating its Position as The Largest Oil Supplier to China

  

  Government data revealed today, Wednesday, that Saudi Arabia overtook Russia to maintain its position as the largest supplier of crude oil to China in 2020. China, the world’s largest oil importer, bought 542.4 million tons of crude oil in 2020, or 10.85 million barrels per day, which is an increase …

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• 20 January 2021 11:59 am

  Nikkei Drops Profit-Taking

  

  Japanese stocks gave up early trade gains on Wednesday on profit-taking as US Treasury nominee Janet Yellen’s call for big spending did not come as a surprise to investors. The Japanese Nikkei index fell 0.38% to 28,523 points, while the broader Topix index fell 0.34% to 1,849 points. Asian stocks …

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• 20 January 2021 1:02 am

  Natural Gas Futures Record Largest Decline in 2021

  

  Natural gas prices fell sharply on Tuesday, seeing their biggest decline since the beginning of the year, and closing at their lowest level year-to-date. This comes amid an expected decline in the demand for heat fuel compared with the usual levels in previous winters. Natural gas futures for February delivery …

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