Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 15 July 2021 3:37 am

  Dollar Declines Following Powell’s Comments

  

  A dovish tone by the Federal Reserve Chairman Jerome Powell, in his testimony before Congress, pushed the U.S. Dollar (USD) lower on Wednesday. Powell acknowledged progress in an economic recovery but said the economy remains far from achieving the substantial further progress needed to begin tapering asset purchases and then …

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• 15 July 2021 2:18 am

  Wall Street Closes Mostly Higher After Powell’s Testimony

  

  The main indices of the New York Stock Exchange (NYSE) finished mostly higher on Wednesday, with Wall Street investors digesting the Federal Reserve Chairman Jerome Powell’s testimony before lawmakers, in which he vowed patience and no rush in raising interest rates in response to the rising inflation. Powell expects inflationary …

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• 15 July 2021 1:36 am

  Oil Finishes Lower on Mixed News About OPEC+ Deal

  

  Oil prices closed lower on Wednesday after news reports pointed to expectations of an agreement between major producers about output policy in the coming months. Sources reportedly told Bloomberg that the OPEC+ alliance is planning another meeting soon to close the deal, while other media reports said that an agreement …

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• 15 July 2021 12:59 am

  Fed’s Powell Tells Congress Inflation Will Soon Moderate

  

  The United States Federal Reserve Chairman Jerome Powell assured lawmakers on Wednesday that the sharp rise in inflation this year will soon ease. In his testimony before the House of Representatives Financial Services Committee, Powell said that despite the rise in consumer prices, which he expects to remain elevated in …

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• 14 July 2021 11:30 pm

  Gold Finishes at Month-High

  

  Gold prices rose on Wednesday to finish at their best level in about a month, supported the decline of the U.S. Dollar (USD) and Treasury bond yields after the Federal Reserve Chairman Jerome Powell assured Congress that the high inflation will eventually ease. This means that the Fed will be …

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• 14 July 2021 9:54 pm

  European Stocks Log First Loss in Four Sessions

  

  Stocks in Europe closed lower on Wednesday, with investors reacting to the recent surges in inflation rates in both the U.S. and the U.K, with June’s readings of the consumer prices index (CPI) in both countries exceeding market expectations. STOXX Europe 600 lost 0.40 points, or 0.09%, to close to …

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• 14 July 2021 7:55 pm

  U.S. Oil Inventories Down for Eighth Week in Row

  

  The U.S. Energy Information Administration (EIA) on Wednesday reported another decline in crude oil inventories for the eighth consecutive week. Crude oil inventories decreased by 7.9 million barrels for the week ended July 9. The eighth consecutive weekly fall in oil supplies, despite being expected, has exceeded most market expectations. …

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• 14 July 2021 7:42 pm

  Why the BoC Adjusted its Growth Expectations?

  

  The Bank of Canada (BoC) on Wednesday has decided to maintain the main interest rate unchanged at 0.25% The central bank has also revised downwards its expectations for economic growth this year but raised its growth forecasts for next year. BoC now expects the Canadian Gross Domestic Product (GDP) will …

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• 14 July 2021 6:03 pm

  BoC Leaves Policy Rate Unchanged, Reduces Weekly Asset Purchases to C$2B

  

  The Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following the July policy meeting as expected. However, the BoC decided to reduce the target of weekly net asset purchases of the government of Canada bonds to C$2 billion from C$3 billion.

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• 14 July 2021 5:39 pm

  U.S: Annual PPI Climbs to 7.3% in June

  

  The Producer Price Index (PPI) in the US for final demand rose to 7.3% on a yearly basis in June from 6.6% in May, the data published by the US Bureau of Labor Statistics showed on Wednesday. This reading beat the market expectation of 6.8% by a wide margin. On …

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• 14 July 2021 5:39 pm

  Canada: Manufacturing Sales Decline in May

  

  Manufacturing Sales in Canada contracted by 0.6% on a monthly basis in May, the data published by Statistics Canada revealed on Wednesday. This reading followed April’s decline of 2.1% and came in worse than the market expectation for an increase of 1%.

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• 14 July 2021 4:35 pm

  Gold Touches a High of 1825

  

  Gold prices rose on Wednesday, July 14th, after receiving a boost from falling US Treasury yields and the dollar Gold touches a high of 1825 as we mentioned in our morning report after it got the bullish momentum at 1797 taking advantage of falling USD. The yellow metal rose after …

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• 14 July 2021 3:44 pm

  BoC Preview: Forecasts From Four Major Banks

  

  Markets are looking forward to Wednesday’s decision on interest rates by Bank of Canada, and it is widely expected that the Bank of Canada will leave the interest rate unchanged (0.25%). reduce weekly asset purchases to $2 billion Here are the expectations as forecast by the economists and researchers of …

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