Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 1 July 2021 4:47 pm

  US: Weekly Initial Jobless Claims Dropped to 364K

  

  There were 364,000 initial claims for unemployment benefits in the US during the week ending June 26, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 393,000 and followed the previous print of 415,000.

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• 1 July 2021 4:16 pm

  Reuters: OPEC+ to Ease Oil Output Cuts by Around 2 Million bpd Between Aug. And Dec.

  

  Citing two sources with the knowledge of the matter, Reuters reported on Thursday that the OPEC+ is likely to ease oil output cuts by around 2 million barrels per day between August and December. Crude oil jumped on the news and was seen at its highest level since October 2018 …

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• 1 July 2021 3:34 pm

  Eurozone Factory Activity Growth in June

  

  Manufacturing activity in the Eurozone increased in June at the fastest pace on record, a survey showed on Thursday, July 1 also showed that factories faced the largest increase in raw material costs in well over two decades. The final reading of the IHS Markit Manufacturing Purchasing Managers’ Index rose …

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• 1 July 2021 2:51 pm

  The Russian President Signs a Law Requiring Foreign Technology Companies to Open Offices in Russia

  

  A document published by the Russian government said that President Vladimir Putin signed a law requiring foreign information technology companies to open offices on Russian soil, in the latest steps taken by Moscow to impose greater control over big technology companies. Russia is keen to tighten its grip on the …

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• 1 July 2021 2:15 pm

  Gold Rises on Delta Variant Fears Ahead of US Jobs Data

  

  Gold prices rose today, Thursday, July 1, as concerns about the most contagious delta strain of the Coronavirus boosted the yellow metal’s appeal as a safe haven, ahead of US jobs data, which is an important factor in the US Federal Council’s policy outlook. Spot gold rose 0.4% to more …

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• 1 July 2021 1:21 pm

  Dollar Hits 15-Month High Against Yen as US Jobs Data Nears

  

  The dollar hit a 15-maonth high against the yen and hovered near a multi-month peak against other major peer currencies on Thursday, July 1, ahead of a major US jobs report that could provide clues as to when the Fed will begin to scale back stimulus. The US currency rose …

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• 1 July 2021 12:40 pm

  Oil Prices Rise Ahead of OPEC+ Decision to Cut Supplies

  

  Oil prices rose on Thursday, July 1, buoyed by falling US inventories, as investors awaited a decision from major producers on whether to maintain or ease supply cuts in the second half of the year. Brent crude for September delivery gained 15 cents, or 0.2%, to $74.77 a barrel, while …

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• 1 July 2021 12:15 pm

  Japan Shares Fall on Slowdown Fears Due to Rising Coronavirus Cases

  

  Japanese stocks closed lower Thursday, July 1, as they were pressured by concerns that a rise in COVID-19 infections could extend restrictions and slow economic recovery. The Nikkei index fell 0.29% to 28,707.04 points, while the broader Topix index fell 0.22% to 1939.21 points. Japan is likely to extend coronavirus …

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• 1 July 2021 2:56 am

  Fed’s Kaplan Supports Smooth Tapering Soon

  

  President of the Federal Reserve Bank of Dallas, Robert Kaplan, hopes tapering could begin soon, telling Bloomberg on Wednesday that the reducing asset purchases will be smooth and not shock the market. “I want it to get out into the market, and I think this debate we’re having at the …

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• 1 July 2021 2:42 am

  Ford to Shut Down North American Plans Due to Semiconductors Shortage

  

  Ford Motor plans to shut down several of its factories in North America due to the global shortage of semiconductors. The closure will take place for a few weeks over the course of July and August. The supply disruption might cost the company as much as $2.5 billion this year, …

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• 1 July 2021 2:33 am

  S&P 500 Hits New Record High with Best Performance Since 1998

  

  The main indices of the New York Stock Exchange (NYSE) continued to show a mostly strong performance on Wednesday, with the S&P 500 index registering its 34th record close this year, and while the Nasdaq declined and failed to continue to the record breaking activity, the Dow Jones came close …

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• 1 July 2021 1:06 am

  USD Scores Large Gains Following ADP Employment Report

  

  The U.S. Dollar (USD) rose on Wednesday to its highest level in about two and a half months to score large monthly gains against major peers. The greenback in June registered its biggest rise since November 2016, rising by about 3%. The Dollar Index (DXY), which measures the USD’s performance …

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• 1 July 2021 12:05 am

  Oil Settles Higher Following Inventory Data

  

  Oil prices finished higher on Wednesday, after data showed that U.S. crude inventories declined for the sixth consecutive week. Markets are anticipating the decision by members of the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies on output curbs. Brent crude futures for September delivery gained 34 …

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