Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 16 July 2021 3:54 am

  U.S. Business Applications Decline in June

  

  New business applications in the United States decreased by 9.8% to a seasonally adjusted 448,553 in June, official data showed on Thursday. This marked the first time for applications to start a new business in the U.S. to decline since February. A seasonally adjusted 51,543 applications were received from corporations, …

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• 16 July 2021 3:29 am

  Powell Tells Senate High Inflation is Temporary

  

  The Federal Reserve Chairman Jerome Powell has defended on Thursday the efforts by the central bank to support the U.S. economy amid recovery from the coronavirus pandemic, despite the recent surge in inflation. After speaking to the House Financial Services Committee Wednesday, today Powell spoke to the Senate Banking Committee. …

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• 16 July 2021 12:50 am

  Oil Closes Lower for Second Straight Day

  

  Oil prices finished lower on Thursday, maintaining a downward trend for the second consecutive session, amid uncertainty about production levels. Yesterday, media reports suggested that the OPEC+ alliance has reached an initial agreement to extend the current output cuts until 2022, with a gradual easing in the curbs in line …

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• 15 July 2021 11:55 pm

  USD Rebounds From Session Lows

  

  The U.S. Dollar (USD) rose on Thursday, supported by the drop in weekly jobless claims and the testimony of the Federal Reserve Chair before Congress, in which expressed the central bank’s patience in dealing with the rising inflation. Unemployment benefits data showed that the labor market continues to show recovery …

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• 15 July 2021 11:14 pm

  Gold Closes Lower as Inflation Concerns Ease

  

  Gold prices finished lower on Thursday after recent remarks by the Federal Reserve Chair Jerome Powell eased concerns about the rising inflation a sudden change in monetary policy. The yellow metal’s decline comes a day after finishing at its highest level in about a month. Gold futures for August delivery …

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• 15 July 2021 10:40 pm

  European Stocks Log Biggest Loss in Week

  

  European stocks finished lower on Thursday, with the energy sector leading the losses due to the drop in crude oil prices. The STOXX Europe 600 index closed lower by about 1%, logging its biggest decline and its lowest closing level since July 8, at 456.20 points. Oil and gas stocks …

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• 15 July 2021 8:10 pm

  U.S. Senate to Discuss Infrastructure Bill Next Week

  

  The United States Senate could be voting on the bipartisan infrastructure bill next Wednesday, Senate said Majority leader Chuck Schumer said on Thursday. The $1.2 trillion plan includes spending on roads, bridges, and other infrastructure projects. “All parties involved in the bipartisan infrastructure bill talks must now finalize their agreement …

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• 15 July 2021 7:44 pm

  U.S. Import Costs Increase in June Contributing to Rising Inflation

  

  The United States import price index surged by 1% in June, official data showed on Thursday. This marked the seventh consecutive monthly increase for import prices. Despite coming in line with market expectations, the rise in the cost of imported goods showed another element contributing to the surging inflationary pressures. …

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• 15 July 2021 6:10 pm

  US: NY Empire State Manufacturing Index Improves to 43 in July

  

  The Index of the NY Fed’s Empire State Manufacturing Survey improved sharply to 43 from 17.4 in June. This reading fell short of the market expectation of 18 by a wide margin.

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• 15 July 2021 5:26 pm

  U.S: Industrial Production Expands by 0.4% in June

  

  Industrial Production in the United States expanded by 0.84 on a monthly basis in June, the US Federal Reserve reported on Thursday. This reading followed May’s growth of 0.7% and came in slightly weaker than the market expectation for an increase of 0.7%.

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• 15 July 2021 4:55 pm

  US: Philadelphia Fed Manufacturing Index Drops to 21.9 in July

  

  The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey dropped to 21.9 in July from 30.7 in June. This reading came in weaker than the market expectation of 28.

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• 15 July 2021 4:32 pm

  US: Weekly Initial Jobless Claims Drop to 360K

  

  There were 360,000 initial claims for unemployment benefits in the US during the week ending July 10, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 386,000 (revised from 373,000) and came in line with the market expectation.

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• 15 July 2021 4:13 pm

  OPEC Monthly Report: World Oil Demand to Rise by 3.28M BPD in 2022

  

  In its latest monthly report, OPEC said that it expects the world oil demand to rise by 3.28 million barrels per day to 99.6 million barrels per day in 2022, per Reuters. “World oil demand in 2022 to reach comparable pre-pandemic levels.”“OPEC sticks to forecast 2021 world oil demand will …

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