Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 6 May 2021 3:03 pm

  BoE Leaves Rate and QE Unchanged

  

  The Bank of England’s (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its May policy meeting and kept the Asset Purchase Facility steady at £895 billion as widely expected.

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• 6 May 2021 3:02 pm

  Decline in Oil Prices Despite a Significant Decrease in US Crude Inventories

  

  Oil prices retreated after they rose earlier Thursday, May 6, under pressure from increased cases of Covid-19 in India and elsewhere, despite a drop that greatly exceeded expectations for US crude stockpiles. Brent crude futures fell 28 cents, equivalent to 0.4%, to $ 68.68 a barrel, and US West Texas …

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• 6 May 2021 2:22 pm

  Eurozone Retail Sales Exceeded Expectations in March

  

  Data showed retail sales in the eurozone rose more than expected in March, indicating pent-up demand among consumers as the pandemic eases. The European Union statistics office Eurostat said that retail sales in the 19 countries that use the euro jumped 2.7% month over month in March and 12% year …

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• 6 May 2021 1:14 pm

  Gold Rises Supported by Declining Bond Yields And Focus on US Jobs Data

  

  Gold prices rose Thursday, May 6, as a decline in US Treasury bond yields offset pressure from the dollar’s ​​rally, while investors awaited US non-farm payrolls data for April, which is scheduled for release later this week. Spot gold rose 0.2% to $1789.22 an ounce. US gold futures advanced 0.2% …

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• 6 May 2021 12:30 pm

  Japan Shares Closed on Upside on Support of Stocks Linked to the Economic Cycle

  

  Japanese stocks rose Thursday, May 6, to record their largest percentage gain in two weeks, as investors flocked to stocks linked to the economic cycle after Wall Street’s gains, but technology stocks that tracked the fall of the Nasdaq index limited the gains. The Nikkei index advanced 1.8% to close …

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• 6 May 2021 1:08 am

  Fed Officials Remain Patient about Policy Changes

  

  The United States Federal Reserve Vice Chairman, Richard Clarida, said on Wednesday that time is yet to come for reducing the massive bond-buying or raising the historically low-interest rates. Speaking on behalf of the central bank, Clarida told reports “we will get more data, and as we move through the …

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• 5 May 2021 11:07 pm

  Oil Shows Mixed Performance Following Inventory Data

  

  Oil prices showed a mixed performance on Wednesday, following the release of the weekly inventories report in the United States. Another increase in gasoline stockpiles increased worries about demand recovery. Brent crude futures for June delivery added 8 cents, or 0.1%, to reach $68.96 a barrel. Meanwhile, the U.S. West …

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• 5 May 2021 10:38 pm

  Metals Rally After Yellen Explains Rate Hike Remarks

  

  Gold prices rose on Wednesday after declining yesterday due to comments about the U.S. Treasury Secretary that suggested nearing an interest rate hike. The U.S. Secretary of the Treasury, Janet Yellen, is also the former leader of the Federal Reserve. She was the central bank’s first Chairwoman. Yellen walked back …

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• 5 May 2021 10:02 pm

  European Stocks Rebound from Recent Losses

  

  European stocks recovered on Wednesday with their best daily performance in about two months. The pan-European STOXX 600 index gained 1.8%, with the basic resources sector surging by 4.7% to its highest level in about 10 years, while the tech sector added 2.7% to recovery some of its recent sharp …

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• 5 May 2021 8:45 pm

  ADP Jobs Report Show Biggest Rise in Seven Months

  

  Private payrolls in the United States increased in April, registering its largest rise in seven months, data showed on Wednesday. The ADP National Employment Report showed that private payrolls rose by 742,000 jobs last month, recording its biggest increase since September. Meanwhile, the March reading was revised upward to indicate …

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• 5 May 2021 8:31 pm

  U.S. Oil Inventories Fall Beyond Expectations

  

  Crude oil prices rose on Wednesday, maintaining an upward trend for the third session in a row, following the release of the U.S. Energy Information Administration (EIA) weekly report. The supplies weekly report showed that oil inventories in the United States declined by more than expected last week, falling by …

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• 5 May 2021 7:13 pm

  U.S. Services Industry Maintains Growth in April

  

  The United States services sector expanded with a relatively slower pace in April, data showed on Wednesday. The Institute for Supply Management (ISM) non-manufacturing activity index declined to 62.7 in April from a reading of 63.7 in March, which was a new record high. The services sector’s new orders index …

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• 5 May 2021 3:20 pm

  Eurozone Business Growth Accelerated in April

  

  Business activity accelerated in the euro area last month, as the dominant service sector in the region ignored renewed lockdown measures and resumed growth, according to a survey on Wednesday that also indicated that companies are facing rising raw material costs. Europe is facing a third wave of the Coronavirus, …

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