Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 27 January 2021 9:24 pm

  USD/CAD Maintains Some Gains Ahead of Fed Decision

  

  The U.S. Dollar (USD) is maintaining its gains against the Canadian Dollar (CAD) on Wednesday, despite the latter being supported by a rise in oil prices on the back of a large drop in crude stockpiles in the United States. The USD/CAD pair is up for the day by 0.55% …

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• 27 January 2021 9:20 pm

  U.S. Crude Oil Inventories Show Surprise Drop

  

  Crude oil inventories in the United States declined more than expected last week, the weekly report by the U.S. Energy Information Adminstration (EIA) showed on Wednesday. Oil stockpiles in the U.S. fell by 9.91 million barrels, against market expectations of a 400,000-barrel increase. Gasoline inventories increased by 2.47 million barrels …

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• 27 January 2021 8:37 pm

  European Stocks Decline Ahead of Fed Decision

  

  European stocks declined on Wednesday, amid reduced risk appetite among investors in anticipation of the United States Federal Reserve policy decision. The pan-European STOXX 600 index fell by 1.20%, with the telecom sector leading the decline and falling by 2.9%. The French CAC40 plummeted by 1.29%, while the German DAX …

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• 27 January 2021 7:58 pm

  What to Expect from the Fed’s January Meeting?

  

  The Untied States Federal Reserve is highly expected to maintain interest rates unchanged during its January meeting, which concludes later on Wednesday. The two-day meeting is also expected to maintain the current pace of asset purchases. Furthermore, the Fed will surely reiterate its commitment to supporting the American economy until …

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• 27 January 2021 7:32 pm

  Germany Sees Economy Growing by 3% in 2021

  

  The German government revised its expectations for economic growth in 2021 downwards to 3%, down from a previously estimated growth rate of 4.4%. Another lockdown as part of the preventive measures against the spread of the Coronavirus pandemic has left its toll on the biggest economy in Europe, as shown …

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• 27 January 2021 6:26 pm

  USD Rises Ahead of Fed’s Policy Statement

  

  The U.S. Dollar (USD) rose on Wednesday, following the release of positive economic data that showed a rise in durable goods orders in December. The rise of the USD also comes amid anticipation for the outcomes of the Federal Reserve policy meeting, which is expected maintain interest rates unchanged near …

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• 27 January 2021 5:45 pm

  US: Durable Goods Orders Rise by 0.2% in December

  

  Durable Goods Orders in the United States rose by 0.2%, or $0.4 billion, to $254.3 billion in December, the data published by the US Census Bureau showed on Wednesday. This reading followed November’s increase of 1.2% and missed the market expectation of 0.9%.

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• 27 January 2021 5:35 pm

  GBP/USD Retreats Further Ahead of FOMC

  

  GBP/USD continued its corrective slide from several-month highs, and reached its daily low, with a target of 1.3700. After optimism about the launch of Covid 19 vaccines and hopes for a global economic recovery faded, along with doubts about the timing of the US stimulus plan, all this affected the …

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• 27 January 2021 4:20 pm

  Germany’s Economic Institute DIW: Economy Likely to Contract 3% in Q1 2021

  

  Germany, Europe’s largest economy probably contracted by 3% in the January to March period, the latest forecasts published by Germany’s economic institute DIW showed on Wednesday.

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• 27 January 2021 4:18 pm

  AstraZeneca Pulls Out From Meeting With EU on Vaccine Supplies – Reuters

  

  AstraZeneca has pulled out from the meeting with the European Union officials on coronavirus vaccine supplies that was scheduled to take place on Wednesday, Reuters reported, citing an EU official familiar with the matter.

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• 27 January 2021 3:27 pm

  Currencies Overview: Dollar Rallied in Contrast to Euro Before The US Fed Meeting

  

  The dollar rose against a basket of currencies on Wednesday, January 27th, as markets awaited comments by US Federal Reserve Chairman Jerome Powell, who is likely to renew his commitment to a super-easing policy. The dollar compensated for declines against riskier currencies, even as hopes for a pandemic recovery received …

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• 27 January 2021 2:14 pm

  European Stocks Fall Despite Earnings Results

  

  European stocks fell on Wednesday under the weight of fears of a slow economic recovery while most investors were reluctant to take positions ahead of the US Federal Reserve’s decision on monetary policy. The European Stoxx600 index fell 0.4% in early trade after losses in Asian markets and Wall Street. …

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• 27 January 2021 1:35 pm

  Oil Rises With The Decline in US Stocks And New Cases of Covid in China

  

  Oil prices rose on Wednesday, January 27, after data for the sector showed that US crude inventories fell unexpectedly last week, and China, the second-largest consumer of oil in the world, recorded the lowest daily level of increase in cases of Covid-19 in more than two weeks. Brent crude futures …

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