Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 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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• 20 January 2021 12:52 am

  IEA Cuts Oil Demand Forecasts for 2021

  

  The International Energy Agency (IEA) cuts its expectations for the global demand for crude oil during 2021 by 280,000 barrels per day (b/d) to 5.5 million b/d, according to the monthly report released on Tuesday. A decline of 600,000 b/d is expected during the first quarter (Q1) of the year, …

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• 20 January 2021 12:45 am

  Oil Closes Higher as the USD Declines

  

  Oil prices rose on Tuesday, amid the decline of the U.S. Dollar (USD), despite the International Energy Agency (IEA) cutting its expectations for the global demand for crude oil in 2021. Hopes for increased government stimulus by the new administration that is about to take over in the United States …

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• 20 January 2021 12:33 am

  Gold Settles Higher on Promises for Increased Stimulus Spending

  

  Gold prices rose on Tuesday, recovering some its recent losses, as the U.S. Dollar (USD) turned to the negative territory ahead of the inauguration of the President-elect of the United States, Joe Biden. The decline of the USD and the rise of the yellow metal are attributed to the expected …

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• 20 January 2021 12:27 am

  Investors Worry About Bitcoin and Tech Stock Bubbles: Survey

  

  Investors are growing worried about Bitcoin and tech stocks on Wall Street as the biggest risks of market bubbles right now, according to a recent report by Deutsche Bank picked up by CNBC on Tuesday. A survey by Deutsche Bank showed that the majority of investors, 89% of 627 participants, …

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• 19 January 2021 11:51 pm

  EU Wants to Reduce Dependence on USD

  

  The European Commission, the executive body of the European Union (EU) seeks to increase the international role of the Euro (EUR), building more independence away from the dominance of the U.S. Dollar (USD), Reuters reported. “With the withdrawal of the UK from the EU, there is a strong need and …

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• 19 January 2021 9:57 pm

  Yellen Voices Support for Biden’s Rescue Plan

  

  Former Chair of the United States Federal Reserve and President-elect Joe Biden’s nominee for Secretary of the Treasury, Janet Yellen, said on Tuesday that the benefits of the new rescue package, which will increase government stimulus spending by $1.9 trillion, are bigger than its costs. Speaking to the U.S. Senate …

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• 19 January 2021 9:22 pm

  Why the Fed is Set to Maintain its Easing Policies During 2021?

  

  The United States Federal Reserve is planning to maintain its easing policies for the foreseeable future, despite expectations that the new administration, led by the Democratic President-elect Joe Biden, will roll out new massive economic stimulus to help the American economy cope with the complications of the Coronavirus pandemic. Last …

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• 19 January 2021 9:04 pm

  European Stocks Close Lower Ahead of Biden’s Inauguration

  

  European stocks closed lower on Tuesday, amid anticipation for the developments of the Coronavirus pandemic across the content and for the new administration in the United States taking over tomorrow with the inauguration of President-elect Joe Biden. The pan-continental STOXX Europe 600 index finished lower by 0.2%, with the basic …

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• 19 January 2021 7:37 pm

  Canada’s Manufacturing Sales Down for Fourth Month in Row

  

  Manufacturing sales in Canada declined during November for the fourth month in a row, falling by 0.6%, according to data by Statistics Canada released on Tuesday. Manufacturing sales registered CAD 53.7 billion in November.

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• 19 January 2021 7:36 pm

  Canadian Wholesale Sales at Record High

  

  Wholesale sales in Canada increased during November 2020 for the seventh consecutive month to reach a new record high, data by Statistics Canada showed on Tuesday. Wholesale sales rose by 0.7% to hit a new all-time high of CAD 67.4 billion. In volume, wholesale sales went up by 0.9% in …

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