Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 2 February 2021 2:38 pm

  Eurozone Preliminary GDP shrinks by 0.7% QoQ in Q4

  

  The Eurozone economy contracted 0.7% on quarter in the three months to December of 2020, beating -1.2% expected, the first estimate showed on Tuesday. On an annualized basis, the bloc’s GDP dropped by 5.1% in Q4 vs. -4.3% seen in Q3 2020 while beating -4.3% expectations.

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• 2 February 2021 2:36 pm

  Oil Prices Continue to Rise as Production Restricted

  

  Oil prices rose by about 1%, after major crude producers showed that they were curbing supplies in nearly line with their commitments, to continue gains in a market confused by weak demand during the Coronavirus pandemic. Brent crude rose 48 cents, equivalent to 0.9%, to $ 56.83 a barrel, gaining …

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• 2 February 2021 1:33 pm

  European Stocks Rose on Recovery Hopes And Gains From Technology Companies

  

  European stocks rallied as investors hoped for a faster-moving economic recovery, while technology stocks led the gains after French information technology advisory group Atos ended talks on a possible acquisition of US rival DXC Technology. Atos shares gained 5% after the company said it decided not to continue talks about …

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• 2 February 2021 1:21 pm

  Russia’s Production of Oil And Gas Condensate Rises in January

  

  Russia’s production of oil and gas condensate increased to 10.16 million barrels per day in January from 10.04 million barrels per day in December, according to Reuters calculations based on an Interfax report that was based on data from the Energy Ministry. The news agency reported that production of oil …

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• 2 February 2021 12:27 pm

  Japan Stocks Gaining as Optimism Surrounding Corporate Earnings Grows

  

  Japanese stocks closed higher for the second session in a row, recovering from the heavy sales witnessed last week, as optimism about local and US corporate earnings grew, boosting sentiment. The Nikkei index rose 0.97% to 28,362.17 points, while stocks of consumer goods, materials and real estate industries led the …

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• 2 February 2021 1:19 am

  How the GameStop Bubble is Leading to a Surge in Silver Prices?

  

  Silver futures rose on Monday and closed at a level not seen since 2013, on the back of strong demand that is attributed to retail traders on the social media platform Reddit. Reddit users through WallStreetBets were able to recently lead huge demand for stocks such as GameStop and AMC …

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• 2 February 2021 12:56 am

  Oil Maintains Gains on OPEC+ Commitment

  

  Oil prices rose on Monday supported by the commitment of the members of the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, known as OPEC+. Last month, OPEC+ agreed on extending the output curbs in February, with Saudi Arabia vowing to unilaterally cut production to help restore …

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• 1 February 2021 10:53 pm

  USD Nears Highest Level since Early December

  

  The U.S. Dollar (USD) rose on Monday, opening the week with a positive performance, supported by the decline of the Euro (EUR) and the Swiss Franc (CHF). The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.43% at 90.97. …

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• 1 February 2021 10:49 pm

  Gold Prices Rise and Silver Hits Highest Level in Eight Years

  

  Gold prices rose on Monday, amid improved demand despite the U.S. Dollar (USD) showing rebound signs and rising across the board against major currencies. The yellow metal futures for April delivery gained $13.6, or 0.7%, and settled at the level of $1,863.90 per ounce. Meanwhile, silver futures for March delivery …

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• 1 February 2021 9:42 pm

  Fed’s Kashkari Praises Response to Coronavirus

  

  The President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Monday that the Fed and the U.S. Congress have responded well to the Coronavirus crisis, in a better way compared with the global financial crisis, Reuters reported. “Right now I’m not concerned about it – this is …

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• 1 February 2021 9:39 pm

  European Stocks Recover and Close in Green

  

  European stocks closed higher on Monday, opening the week with a positive performance amid improved investors’ sentiment. Following a weekly decline that was the worst since last October, the pan-European STOXX 600 index rose by 1.2%. The French index CAC40 bounces by 1.16%, while the German DAX finished higher by …

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• 1 February 2021 8:06 pm

  U.S. Construction Spending Records New High in December

  

  Construction spending in the United States hit a new record high in December, data showed on Monday. Construction spending rose by 1% to $1.49 trillion, its highest level since the records began in 2002, according to the U.S. Department of Commerce. The November reading was revised upwards to 1.1% from …

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• 1 February 2021 7:34 pm

  U.S. ISM Manufacturing Index Expands in January

  

  Economic activity in the United States manufacturing sector expanded in January, with the overall economy notching an eighth consecutive month of growth, according to the latest Manufacturing ISM Report On Business. The January Manufacturing Purchasing Managers Index (PMI) registered 58.7% last month, down 1.8% points from the seasonally adjusted December reading of 60.5%. After a contraction …

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