Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 17 June 2021 5:23 am

  SEC Delays Decision on Bitcoin ETF

  

  The U.S. Securities and Exchange Commission (SEC) has delayed for the second time its decision on the first Bitcoin exchange-traded fund (ETF). VanEck, an ETF and mutual fund manager, proposed an ETF for the world’s largest cryptocurrency and an SEC approval was delayed in April. The SEC reportedly wants to …

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• 17 June 2021 3:22 am

  Fed on Road for Taper Talk and Expects Two Interest Rate Hikes in 2023

  

  The two-day Federal Reserve policy meeting concluded on Wednesday with most outcomes falling in line with expectations, as the Federal Open Market Committee (FOMC) decided to keep the current interest rate range near 0% and the pace of asset purchases at $120 billion a month. The central bank reiterated its …

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• 17 June 2021 1:40 am

  EUR/USD Logs Biggest Daily Loss in 15 Months

  

  The Euro (EUR) declined against the U.S. Dollar (USD) on Wednesday, following the U.S. Federal Reserve’s policy meeting, in which the central bank decided to maintain its current policy, expecting rising inflation and seeing two rate hikes in 2023. Today, the EUR/USD pair lost about 1.08%, falling below 1.2 and …

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• 17 June 2021 1:15 am

  GBP/USD Declines Following Fed’s Decision

  

  The British Pound (GBP) declined on Wednesday against the U.S. Dollar (USD) for the second consecutive day, after the Federal Reserve decided to maintain its current policy and expected two rate hikes in 2023. The GBP/USD pair lost about 0.7% to reach the level of 1.3987. This market the largest …

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• 17 June 2021 12:29 am

  NYSE Closes Lower Following Fed’s Statement

  

  The New York Stock Exchange (NYSE) closed lower on Wednesday after the Federal Reserve pointed to its expectation that interest rates will be raised earlier than previously expected with two rate hikes in 2023. The Dow Jones Industrial Average fell by about 266 points, or 0.77%, to close at 34,033.7 …

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• 16 June 2021 11:33 pm

  Oil Maintains Rising Trend Following U.S. Inventory Data

  

  Oil prices maintained their upwards trend on Wednesday, following the release of the weekly inventory report in the United States. Brent crude futures for August delivery increased by 40 cents, or 0.5%, to finish at $74.39 per barrel. The West Texas Intermediate (WTI) crude futures for July delivery added 3 …

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• 16 June 2021 10:29 pm

  Gold Closes Higher After Three Daily Losses

  

  Gold prices rose on Wednesday for the first time in four sessions, recovering some of its recent losses with the U.S. Federal Reserve’s expected decision to maintain its current policy. The Fed raised its inflation forecasts for 2021 and 2022, demand for the yellow metal increased with investors seeking hedging …

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• 16 June 2021 10:07 pm

  U.S. Fed Maintains Rates and Policy Unchanged

  

  The United States Federal Reserve has decided to maintain interest rates unchanged in its June meeting that concluded on Wednesday. The Federal Open Market Committee (FOMC) expects it will be appropriate to maintain the current rate target range until labor market conditions have reached levels consistent with the maximum employment …

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• 16 June 2021 8:51 pm

  European Stocks Close at Another Record High

  

  European stocks rose on Wednesday to close at a new record high, amid positive expectations for economic recovery. The STOXX Europe 600 index added 0.27% to finish near 460 points, as the travel and leisure stocks lead the gains and leveled up by 1.3%. This marked the ninth consecutive daily …

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• 16 June 2021 7:36 pm

  U.S. Oil Inventories Down 7.4 M Barrels

  

  Crude oil inventories in the United States declined by 7.4 million barrels last week, according to data by the Energy Information Administration (EIA) released on Wednesday. The decline exceeded most market expectations, which were hovering around 4.2 million barrels for the week ended June 11, but still came below estimates …

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• 16 June 2021 5:57 pm

  The Turkish Lira Swing Ahead of Rhe Central Turkish Meeting

  

  The Turkish lira traded around 8.5 against the US dollar after a volatile start to the week, amid strained US-Turkish relations and persistent concerns about the central bank’s credibility ahead of Thursday’s policy meeting. Earlier this week, President Recep Tayyip Erdogan reiterated his country’s position on the S-400 missile defense …

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• 16 June 2021 5:20 pm

  US: Housing Starts Rise by 3.6% in May

  

  Housing Starts in the US rose by 3.6% on a monthly basis in May following April’s drop of 12.1% (revised from -9.5%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday.

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• 16 June 2021 4:37 pm

  Canada: Annual CPI Rises to 3.6% in May

  

  Annual inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 3.6% in May from 3.4% in April, the data published by Statistics Canada revealed on Wednesday. This reading came in higher than the market expectation of 3.5%. On a monthly basis, the CPI remained steady at …

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