Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2021

• 15 September 2021 12:31 pm

  Oil Prices Rise With Falling Inventories

  

  Oil prices rose on Wednesday, September 15th, after data showed a larger-than-expected decline in crude stocks in the United States, the largest consumer of fuel in the world, in addition to expectations of a recovery in demand with the expansion of vaccinations. But the decline in China’s consumption of crude …

  Read More »
• 14 September 2021 5:50 pm

  Canada: Manufacturing Sales Decline by 1.5%

  

  Manufacturing Sales in Canada declined by 1.5% on a monthly basis to C$59.6 billion in July, the data published by Statistics Canada revealed on Tuesday. This reading followed June’s expansion of 2.1% and came in worse than the market expectation for a decrease of 1%.

  Read More »
• 14 September 2021 5:03 pm

  US Annual CPI Inflation Edges Lower in August

  

  The US inflation data was released moments ago, and the markets waited for this data strongly to determine whether the inflation rate is exacerbating or is still under control, and these data are currently used to pressure the US Federal Reserve to announce the start of tightening its monetary policy …

  Read More »
• 14 September 2021 3:48 pm

  Nikkei Closes at Its Highest Level in More Than 31 Years

  

  Japan’s Nikkei index closed at a more than 31-year high Tuesday, September 14th, led by cyclical stocks that tracked Wall Street’s gains, while progress in a domestic vaccination campaign boosted hopes of reopening the economy. The Nikkei index rose 0.73% to close at 3,0670.10 points, its highest level since August …

  Read More »
• 14 September 2021 3:10 pm

  Oil Prices Jump to Their Highest Level in 6 Weeks

  

  Oil prices hit a six-week high on Tuesday on fears that another storm could affect production in Texas this week, even as the US crude industry struggles to return to normal production levels after Hurricane Ida wreaked havoc on the Gulf Coast. Oil prices rose for the third consecutive session, …

  Read More »
• 14 September 2021 1:56 pm

  The Dollar Stabilizes Below The Highest Level in Two And a Half Weeks

  The dollar settled below a two-and-a-half-week high on Tuesday, September 14th, hit in the previous session, as investors braced for inflation data that may provide indications of the timing of the US Federal Reserve’s policy tightening at its meeting next week. Ahead of the US central bank’s policy review scheduled …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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.

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »