Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 2 June 2021 11:29 pm

  Oil Futures Finish Higher on Positive Expectations

  

  Oil prices finished higher on Wednesday at their best level in about two years, as the results of the most recent OPEC+ summit projected stability and positive expectations for demand recovery during the second half of the year. Brent crude futures for August delivery gained $1.1, or 1.6%, to close …

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• 2 June 2021 11:07 pm

  Gold Futures Finish at Five-Month High

  

  Gold prices rose on Wednesday, restoring its best closing level in about five months, as U.S. Treasury bond yields declined and the U.S. Dollar (USD) erased most of its daily gains. Despite markets seeing optimism regarding economic recovery, the yellow metal continues to maintain a mostly upward trend especially with …

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• 2 June 2021 10:27 pm

  U.S. Fed Beige Book Shows Economic Growth and Expects Boom!

  

  The United States Federal Reserve’s Beige Book showed on Wednesday that the U.S. economy grew at a moderate pace in April and May. The report highlighted expansion compared with the corresponding period of last year, as consumer spending rose on the back of stimulus packages and the rollout of coronavirus …

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• 2 June 2021 9:42 pm

  European Stocks Rise to New Record High

  

  European stocks finished higher on Wednesday, hitting a new all-time record high, amid improves investors’ sentiment towards economic recovery from the pandemic. The STOXX 600 Europe index gained 0.28% to close at 451.34 points. Meanwhile, the French CAC40 index rose by 0.50% to finish at 6,521.52 points. The German DAX …

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• 2 June 2021 8:29 pm

  Digital Currency Could Increase Demand for Euro – ECB

  

  The European Central Bank (ECB) said on Wednesday that creating a digital Euro (EUR) could boost global demand for the currency, making it easier for broader use, Reuters reported. “Safety, low transaction costs and bundling effects, could ease international adoption of a currency.” “Transparency or selective privacy would enable better …

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• 2 June 2021 8:15 pm

  ECB Board Member Supports Climate Consideration in Bond Buying

  

  Jens Weidmann President of the Deutsche Bundesbank, Member of the Governing Council of the European Central Bank (ECB) said on Wednesday that ECB might be moving towards reducing its bond purchases from polluting companies, within the massive stimulus program. The move signals a change in Weidmann’s position regarding an active …

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• 2 June 2021 7:50 pm

  Fed’s Harker: Time to Think About Considering Tapering

  

  The United States Federal Reserve might need to start thinking about how and when to reduce the large asset purchases, as the economy recovers from the Coronavirus pandemic, President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Wednesday. “We are planning to keep the federal funds rate …

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• 2 June 2021 5:30 pm

  ILO: The Global Job Market Will Not Recover From The Pandemic Until at Least 2023

  

  The International Labor Organization said that at least 220 million people are expected to remain unemployed globally this year, well above pre-pandemic levels, in light of a weak recovery in the labor market.exacerbates the current disparity. The United Nations organization expects an improvement to drop the number to 205 million …

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• 2 June 2021 3:59 pm

  Turkey’s Trade Deficit Rises 20.7% Y-o-Y in May

  

  The Turkish trade deficit in May increased by 20.74% on an annual basis, to $4.15 billion, according to the General Trade System. Data from the Commerce Ministry showed that exports rose 65.5% to $16.48 billion, compared to the same month last year when Ankara began easing restrictions on trade to …

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• 2 June 2021 3:17 pm

  Oil Extends Gains Thanks to OPEC+ Plan And Demand Expectations

  

  Oil prices rose after OPEC and its allies agreed to commit to a cautious return to oil supplies to the market in June and July, with expectations of a strong recovery in demand in the United States and China, the world’s largest oil consumers. US West Texas Intermediate crude rose …

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• 2 June 2021 3:15 pm

  Gold Falling as The Dollar And Bond Yields Rise, Supported by Strong US Data

  

  Gold prices retreated on Wednesday from their highest level in nearly five months recorded in the previous session, as the dollar and US Treasury yields rose on the back of strong manufacturing data. And gold fell in spot transactions 0.2% to $ 1896 an ounce during the session, after hitting …

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• 2 June 2021 1:17 pm

  Japan Shares Rise With Hopes of Resuming Economic Activities, Travel And Real Estate Companies

  

  Japanese shares closed higher on Wednesday, June 2, buoyed by gains in the hotel sector, as increased activity in vaccination campaigns raised hopes of resuming economic activities, while shares of automakers rose to new records amid an increase in global demand. The Nikkei index rose 0.46% to close at 28946.14 …

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• 2 June 2021 12:59 pm

  Turkish Lira Hits Record Low After Erdogan Calls For Interest Rate Cuts

  

  Turkish President Recep Tayyip Erdogan reiterated that his country needed to cut interest rates and that he had spoken to the central bank governor about the issue, which has sent the lira to new record lows against the dollar. “I spoke to the central bank governor today – we definitely …

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