Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2021

• 1 September 2021 8:04 pm

  U.S. Construction Spending Rises in July

  

  Construction spending in the United States increased in July, according to data by the U.S. Commerce Department on Wednesday. The construction spending rose by 0.3% compared with its level in June but surged by 9% on a yearly basis. The reading modestly exceeded market expectations.

  Read More »
• 1 September 2021 7:35 pm

  USD Trading Negatively in Early Trades

  

  The U.S. Dollar (USD) is trading lower against major currencies on Wednesday, after the release of economic data that showed mixed conditions in the manufacturing sector and the jobs market. The Dollar Index (DXY) is up 0.23% at 92.42 in early trades after turning to the negative territory before the …

  Read More »
• 1 September 2021 7:13 pm

  OPEC Agrees to Plan on Gradual Output Hikes

  

  As is widely expected, OPEC stuck to the plan to raise production by 400 barrels in October. The meeting is still going on to be updated…

  Read More »
• 1 September 2021 6:50 pm

  EIA: U.S. Oil Inventories Down 7.2 Barrels in a Week

  

  Crude oil inventories in the United States decreased by 7.2 million barrels in the week ending August 27, according to official figures released on Wednesday by the U.S. Energy Information Administration (EIA). Commenting on the data, “business Survey Committee panelists reported that their companies and suppliers continue to struggle at unprecedented …

  Read More »
• 1 September 2021 6:43 pm

  ISM Manufacturing PMI Improves to 59.9 in August

  

  The U.S. manufacturing sector saw an improving level of business activity last month, according to data released today. The manufacturing purchasing managers’ index (PMI) posted 59.9 in August, rising by 0.5% compared to 59.5 in july. Further details of the publication revealed that the Employment Index declined to 49 from 52.9 …

  Read More »
• 1 September 2021 6:34 pm

  Wall Street Opens at Record Highs, Focus on Economic Data

  

  The Nasdaq hit a record high on Wednesday as weaker-than-expected private-sector jobs data fueled hopes of an extension of support from the US Federal Reserve. The Dow Jones Industrial Average rose 26.82 points, or 0.08 percent, to 35,387.55 points The Standard & Poor’s 500 indexes increased by 6.12 points, or …

  Read More »
• 1 September 2021 5:10 pm

  US Private Sector Employment rises by 374K in August

  

  Employment in the US’ private sector increased by 374,000 in August, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed July’s increase of 326,000 (revised from 330,000) and missed the market expectation of 613,000 by a wide margin.

  Read More »
• 1 September 2021 4:48 pm

  Eurozone Unemployment Rate Fell as Expected in July

  

  The European statistics office Eurostat said on Wednesday that the unemployment rate in the eurozone fell as expected in July, with 350,000 people employed compared to the previous month. Eurostat reported that the unemployment rate in the 19 euro countries fell to 7.6% of the workforce, in line with analysts’ …

  Read More »
• 1 September 2021 3:59 pm

  Reuters: Expectations That OPEC+ Will Stick to Its Policy Despite The High Demand For Oil

  

  Four sources told Reuters that OPEC and its allies will likely stick to their current policy of gradually increasing oil production, despite an upwardly revised demand forecast in 2022 and in the face of US pressure to raise production at a faster pace. The Organization of the Petroleum Exporting Countries …

  Read More »
• 1 September 2021 3:00 pm

  IHS Markit Index: Eurozone Manufacturing Growth Hit by Supply Shortages

  

  A survey revealed that the growth of the manufacturing sector in the euro area remained strong in August, but supply chain problems related to the Covid-19 pandemic continued to impede the supply of raw materials needed by factories, which led to higher prices. The easing of restrictions imposed to curb …

  Read More »
• 1 September 2021 2:30 pm

  Turkey’s Economy Grows 21.7% in Q2

  

  The Turkish economy grew by 21.7% on an annual basis as expected in Q2, recovering strongly from a sharp slowdown a year ago driven by COVID-19 restrictions. Data from the Turkish Statistical Institute showed that the economy grew 0.9% from the previous quarter on an adjusted basis in light of …

  Read More »
• 1 September 2021 1:56 pm

  German Retail Sales Plunge in July

  

  Data on Wednesday showed that German retail sales fell much more than expected in July after two months of increases, in the first indication that a consumer-led recovery in Europe’s largest economy could lose some momentum in the third quarter. The Federal Statistics Office said retail sales fell 5.1% month-on-month …

  Read More »
• 1 September 2021 1:25 pm

  Nikkei Rises Sharply on Hopes That Political Fears Will Abate

  

  Japanese shares jumped on Wednesday, with the Nikkei index hitting a one-and-a-half month high, as investors bet that a maneuver by Prime Minister Yoshihide Suga could help restore political stability. The Nikkei gained 1.29% to 28,451.02 points, the highest closing level since July 14, after it crossed important resistance levels …

  Read More »