Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2021

• 14 September 2021 1:23 pm

  IEA: Hurricane Ida Halted Production of 1.7 Million bpd at the End of August

  

  Hurricane Ida halted production of about 1.7 million barrels of oil per day at the end of August, the International Energy Agency said Tuesday, August 14th. The authority added that oil stocks of the OECD countries fell by 34.4 million barrels in July to 2.850 billion barrels. The agency cut …

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• 14 September 2021 12:33 pm

  Gold Prices Are Stable as Investors Await US Inflation Data

  

  Gold prices stabilized on Tuesday, September 14, as investors awaited key inflation data in the United States that may give indications of the Federal Reserve’s decision to reduce stimulus measures aimed at supporting the economic recovery from the pandemic. There was little change in the price of gold in spot …

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• 13 September 2021 5:30 pm

  BofA: May Set a Target at $100 Per Barrel if Winter Comes Cold

  

  Bank of America said it may advance its $100 oil target to the next six months from mid-2022 if the winter comes colder than usual, potentially driving a rise in demand and a widening supply deficit. The bank said in a note dated September 10 that the colder winter than …

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• 13 September 2021 4:28 pm

  Goldman Sachs: Damage to Oil Production From Ida Outweighs Demand

  

  Goldman Sachs said that the impact of Hurricane Ida on oil production was greater than on-demand from refineries, which had a net positive impact on US and global inventory levels. In a note dated September 9, the investment bank described the damage to products in the United States as “unprecedentedly …

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• 13 September 2021 3:47 pm

  German Economy Ministry: GDP Rises Significantly in Q3

  

  The German economy ministry was out with some comments in the last hour, saying that the GDP growth is likely to pick up significantly in Q3 following a 1.6% QoQ rise in the previous quarter. The GDP growth is expected to normalize in the fourth quarter.

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• 13 September 2021 2:07 pm

  Dollar Rises as US Inflation Data Approaches

  The dollar started a data-packed week on the rise, with the immediate focus shifting to US inflation data, but investors are also concerned that the US Federal Reserve is preparing to exit its hyper-supportive stance even as COVID-19 infections rise. The dollar rose in Asian trading after recording its best …

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• 13 September 2021 1:09 pm

  Gold is Stable as The Dollar Rises

  

  Gold prices stabilized Monday, September 13th as the dollar rose, while investors were cautious ahead of US consumer price readings that could determine the Fed’s decision on when to begin tapering. Spot transactions settled at $ 1787.96 an ounce, while US gold futures fell 0.2% to $ 1789. The dollar …

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• 13 September 2021 12:32 pm

  Japan’s Topix Index Reaches a 3-Decade High

  

  Japanese stocks rebounded in late trading, pushing the Topix index to a three-decade peak Monday, September 13th, buoyed by optimism surrounding the country’s prime minister change and a drop in COVID-19 infections. The Topix index recorded a rise in the last 30 minutes of trading and ended the session with …

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• 13 September 2021 4:30 am

  Weekly Recap: 5-10 Sept

  

  The US dollar ended the week with gains, following the fear of dominating of the faltering economic recovery. The US dollar index, which measures the strength of the US currency against a basket of major currencies, rose to 92.64, the index fell to its lowest level in last week’s trading …

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• 10 September 2021 6:15 pm

  ECB Lagarde: “The Lady Isn’t Tapering”

  

  The European Central Bank came out on Thursday as markets had expected. The bank decided to slow down in bond purchases and raised the inflation forecast. Policymakers emphasized that the change is not “Tapering” as the change will be on the PEPP, not APP as the bank strengthens its growth …

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• 10 September 2021 5:43 pm

  Reuters: OPEC Likely to Revise 2022 Oil Demand Growth Forecast Lower –

  

  The Organization of the Petroleum Exporting Countries (OPEC) is likely to lower its forecast for global oil demand growth in 2022 when it publishes its monthly report on Monday, two OPEC sources told Reuters on Friday.

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• 10 September 2021 4:49 pm

  US: Annual PPI Surges to 8.3% in August

  

  The Producer Price Index (PPI) in the US for final demand rose to 8.3% on a yearly basis in August from 7.8% in July, the US Bureau of Labor Statistics announced on Friday. This reading came in higher than the market expectation of 8.2%.

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• 10 September 2021 4:13 pm

  Oil Advances Towards $73

  

  Oil rose towards $73 a barrel on Friday, supported by increasing indications of tight supplies in the United States as a result of Hurricane Ida, and hopes for trade between the United States and China boosted appetite for riskier assets. About three-quarters of offshore oil production in the US Gulf …

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