Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 23 June 2021 3:07 pm

  Gold Gains After Powell Calms Interest Rate Fears

  

  Gold prices rose on Wednesday, June 23, after US Federal Reserve Chairman Jerome Powell pledged to keep interest rates near zero for some time, bringing the dollar to near its lowest level in a week. Spot gold rose 0.2% to $1,782.46 an ounce, and gold futures in the United States …

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• 23 June 2021 2:38 pm

  Oil Hits More Than Two-Year High Thanks to US Inventories

  

  Oil topped $75 a barrel on Wednesday, hitting its highest since late 2018 after an industry report on crude inventories in the United States bolstered views of tight supplies in the market as travel grew in Europe and North America. Two market sources told Reuters that the American Petroleum Institute …

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• 23 June 2021 2:27 pm

  Eurozone Business Activity Grows at Fastest Pace in 15 Years Thanks to Demand

  

  A survey showed that business activities in the eurozone grew at the fastest pace in 15 years this month, as the easing of public isolation measures and the release of demand led to a boom in the services sector that dominates the bloc. The preliminary reading of the IHS Markit …

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• 23 June 2021 2:26 pm

  Nikkei Stable, Chip Gains Offset Pharmaceutical Losses

  

  The Japanese Nikkei index weakened on Wednesday, June 23rd, as gains in chip-related heavyweights, which tracked Wall Street yesterday, offset losses in the pharmaceutical industry. Nikkei rose 0.03% to close at 28,874.89 points, after witnessing the largest increase since 2021 on Tuesday, while the broader Topix index fell 0.53% to …

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• 23 June 2021 1:25 pm

  Eurozone Preliminary Manufacturing PMI Arrives at 64.9 in June

  

  The Eurozone manufacturing sector activity boosted its pace of expansion in the reported month, the latest manufacturing activity survey from IHS/Markit research showed on Wednesday. The manufacturing purchasing managers index remained steady at 63.1 in June and beat 62.1 expectations. Services PMI jumped to 41-month highs of 58.0 in June …

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• 23 June 2021 1:20 pm

  UK Preliminary Manufacturing PMI eases to 64.2 June

  

  The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) eased to 64.2 in June versus 64.0 expected and 65.6 – May’s final reading.

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• 23 June 2021 4:07 am

  Fed’s Powell: No Pre-Emptive Rate Hikes to Combat Inflation

  

  The Chairman of the U.S. Federal Reserve, Jerome Powell, told lawmakers on Tuesday that the economy has achieved progress on its way to recovery from the Coronavirus crisis. The most anticipated message was about the Fed’s reaction to the surge in inflation, which as expected with Powell indicating to the …

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• 23 June 2021 1:40 am

  USD Eases Following Powell’s Testimony

  

  The U.S. Dollar (USD) showed a mostly negative performance on Tuesday, turning to losses against major peers after recent remarks by the Chairman of the Federal Reserve Jerome Powell. The Dollar Index (DXY), which measures the greenback against a basket of six international currencies, declined by about 0.18% to 91.73, …

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• 23 June 2021 12:46 am

  U.S. Oil Inventory Down 7.2 M Barrels – API

  

  Crude oil inventories in the United States fell by 7.2 million barrels last week, according to estimates by the American Petroleum Institute (API). Meanwhile, the stockpiles of gasoline and distillates rose by 959,000 and 992,000 barrels, respectively. Crude stocks at the storage hub in Cushing, Oklahoma, decreased by about 2.6 …

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• 23 June 2021 12:01 am

  Nasdaq Closes at New Record High

  

  The New York Stock Exchange (NYSE) closed Tuesday with modest gains, while the Nasdaq index finished at a new record-high closing level. The Dow Jones Industrial Average gained 68.61 points, or 0.20%, to close at 33,945.58 points. The S&P 500 rose by 21.65 points, or 0.51%, and finished at 4,246.44. …

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• 22 June 2021 11:57 pm

  Oil Retreats from Year Highs to Close Lower

  

  Oil prices declined on Tuesday, after rising for two consecutive days, amid expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies might be raising production starting next August. Media reports pointed to discussions about more reductions into the current output cuts to raise production levels. …

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• 22 June 2021 11:46 pm

  Gold Logs Another Loss to Close Below $1,800

  

  Gold prices declined on Tuesday for the sixth time in eight sessions, as the U.S. Dollar (USD) rose against major currencies. Gold futures for August delivery finished lower by $5.50, or 0.31%, at $1,776.30 per ounce. The yellow metal’s most active contract has extended its losses month-to-date to 6.63%. Gold …

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• 22 June 2021 11:25 pm

  European Stocks Close Higher

  

  European stocks closed higher on Tuesday, with a rebound in commodity prices providing support for the mining and energy sectors. The pan-European STOXX 600 Index gained 0.26% and closed at 456.42 points. Similarly, the blue-chip STOXX 50 index finished higher by 0.26% at 4,123.13. Meanwhile, the UK’s FTSE100 ended the …

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