Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 2 July 2021 2:40 pm

  The Dollar is at Its Highest Level in 3 Months Before The US Jobs Data

  

  Friday, July 2nd, the US dollar hit a three-month high against other major currencies, as traders are betting that strong US labor market data could push the currency higher. And the dollar index is on track to achieve another weekly gain of about 1%. The rise is the fourth in …

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• 2 July 2021 1:30 pm

  Oil Falls After OPEC + Extends Supply Talks

  

  Oil prices fell on Friday, July 2 after OPEC + ministers postponed their meeting on production policy, while sources said that the UAE had blocked plans to return two million barrels per day to the market in the second half of the year. Brent crude futures were down 20 cents …

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• 2 July 2021 1:06 pm

  Gold Rises on Virus Fears And Eyes Are on US Data

  

  Gold rose Friday, July 2nd, boosted by concerns surrounding the spread of the delta strain of the coronavirus, while investors awaited US non-farm payrolls data as it could influence the timing of the Fed’s policy shift. And gold rose in spot transactions 0.1% to $ 1778.52 an ounce. Gold is …

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• 2 July 2021 12:26 pm

  NFP Preview: Forecasts from Three Major Banks

  

  Non-farm Payrolls is due on Friday, July 2 at 12:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of 3 major banks ING “Consensus is paring its expectations down from million-plus figures last month to 700K now. Our house …

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• 2 July 2021 12:15 pm

  Nikkei Closes Higher With Support From Sony and Toyota

  

  Japan’s Nikkei closed higher on Friday, July 2, as gains in export-focused Sony and Toyota Motor Group offset by a weaker yen in chip-related stocks, but the index closed lower for the week on concerns about new infections with the Coronavirus. The Nikkei index rose 0.27% to 28,783.28 points, after …

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• 2 July 2021 3:27 am

  USD Maintains Gains Below Three-Month Highs

  

  The U.S. Dollar hit a three-month high on Thursday, with markets reacting positively to recent economic data and anticipating the release of Friday’s nonfarm payrolls report. The Dollar index (DXY), which measures the greenback’s performance against a basket of six major international currencies, rose above 92.60 for the first time …

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• 2 July 2021 1:26 am

  Wall Street Begins H2 with More Record-Breaking

  

  The New York Stock Exchange (NYSE) finished higher on Thursday, opening July and the second half of the year with another record-breaking performance, with Wall Street investors optimistic about the upcoming jobs report. Recent economic data showed progress on the road to recovery from the coronavirus pandemic, with the drop …

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• 1 July 2021 11:37 pm

  Oil Surges Despite OPEC Delayed Decision on Output Policy

  

  Oil prices surged on Thursday, amid anticipation for the outcomes of the OPEC+ ministerial meeting, which is expected to announce tomorrow its decision on output policy for August and beyond. The decision has now been delayed twice from Wednesday to Friday, amid discussion about easing production cuts by about 400,000 …

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• 1 July 2021 10:36 pm

  Gold Finishes Higher for Second Day

  

  Gold prices rose on Thursday for the second consecutive session, amid the U.S. Dollar (USD) continued rise to its highest level in about three months, on the back of positive economic data. Gold futures for August delivery increased by $5.20, or 0.30%, to close at $1,776.80 per ounce. Over the …

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• 1 July 2021 9:58 pm

  OPEC+ Delays Decision on Output Policy

  

  The OPEC+ alliance ministerial meeting decided to delay the decision on output policy until Friday, according to recent media reports. It was reported that the alliance was near an agreement on raising production levels by about two million barrels per day between August and December through an increase of about …

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• 1 July 2021 8:45 pm

  Why Are Oil Prices Rising Despite Expectations for Another OPEC Output Hike?

  

  The OPEC+ alliance is expected to decide on another production increase for the coming months during its meeting on Thursday. Despite media reports pointing to another output increase, crude prices are surging with the global and U.S. benchmark crude futures rising by about $2 earlier. Brent and Nymex futures remain …

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• 1 July 2021 7:44 pm

  U.S. Construction Spending Falls Unexpectedly in May

  

  Construction spending in the United States declined last month against market expectations, despite the increasing private homebuilding activity, amid decline in public and nonresidential, data showed on Thursday. Construction spending fell by 0.3% in May, following a slight increase of 0.1% in April, according to the U.S. Department of Commerce. …

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• 1 July 2021 7:38 pm

  U.S. Manufacturing Activity Expands in June at Slower Pace

  

  Manufacturing activity in the U.S. expanded last month, however, employment declined for the first time in seven months, data showed on Thursday. The manufacturing purchasing managers’ index (PMI) leveled down to 60.6 in June, from 61.2 in May, according to the Institute for Supply Management (ISM). The PMI reached its …

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