Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 23 June 2021 10:30 pm

  Gold Closes at Highest Level in Week

  

  Gold prices rose on Wednesday and managed to finish net their highest level in about a week, supported by a muted performance by the U.S. Dollar (USD). Recent remarks by the U.S. Federal Reserve Chair Jerome Powell that pointed to no plans to raise interest rates just to combat inflation …

  Read More »
• 23 June 2021 9:30 pm

  European Stocks Decline for First Time in Three Sessions

  

  European stocks closed lower on Wednesday, after rising for two consecutive sessions, despite concerns about the Federal Reserve raising rates soon to combat inflationary pressures eased by Chair Jerome Powell. The pan-European STOXX 600 index fell by 3.32 points, or 0.73%, to finish at 453.10 points. The French CAC40 index …

  Read More »
• 23 June 2021 8:50 pm

  Dollar Rebounds But Remains in Negative Territory

  

  The U.S. Dollar (USD) has recovered some of its losses on Wednesday, after rising earlier in the Asian and European sessions. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is down by 0.04% 91.72. Earlier today, the index fell as low …

  Read More »
• 23 June 2021 7:21 pm

  U.S. Oil Inventories Down 7.6 M Barrels in Week – EIA

  

  Crude oil inventories in the United States declined by 7.6 million barrels last week, data showed on Wednesday. For the week ended June 18, gasoline stockpiles dropped by 2.9 million barrels, while distillate inventories increased by 1.8 million, according to the Energy Information Administration (EIA).

  Read More »
• 23 June 2021 7:17 pm

  U.S. Home Sales Down 5.9% in May

  

  New home sales in the United States declined in May by 5.9% to a seasonally adjusted annual rate of 769,000 units, official data by the U.S. Census Bureau showed on Wednesday. On an annual basis, sales increased by 9.2% last month. The number of homes available for sale by the …

  Read More »
• 23 June 2021 6:33 pm

  U.S. Markit Services PMI Declines to 64.8 in June

  

  The business activity in the US service sector continued to expand at a strong pace in June but lost momentum compared to May with the Markit Services PMI declining to 64.8 from 70.4 70 figure was expected. The Composite PMI fell to 64.9 in June from 68.7 in May.

  Read More »
• 23 June 2021 5:54 pm

  U.S. Manufacturing PMI Jumps to 62.6 in June

  

  The IHS Markit’s Manufacturing PMI for the US rose to 62.6 in June from 62.1 in May to a record high. This reading came in better than the market forecast of 61.4 and revaled that the business activity in the manufacturing sector continued to expand at an unprecedented pace.

  Read More »
• 23 June 2021 5:17 pm

  OPEC+ Considering Boosting Output by 500K bPD When They Meet Next Week

  

  The Organization of the Petroleum Exporting Countries (OPEC) and its allies are considering boosting the group’s collective output by some 500,000 barrels per day when they meet next week, the Wall Street Journal reported on Wednesday, according to Reuters

  Read More »
• 23 June 2021 4:45 pm

  Canada: Retail Sales Decline by 5.7% in April

  

  Retail Sales in Canada fell by 5.7% on a monthly basis in April, the data published by Statistics Canada showed on Wednesday. This reading followed March’s increase of 3.6% and came in worse than the market expectation for a contraction of 5%.

  Read More »
• 23 June 2021 3:48 pm

  BoE Preview: Forecasts From Three Major Banks

  

  The Bank of England announces its latest decision at 11:00 GMT on Thursday, June 24 here are the expectations forecast of three major banks. Wells Fargo “We expect policymakers to provide an update on how the economy is evolving and if the renewed spread of COVID-19 is disrupting economic activity. …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »