Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2021

• 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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• 10 September 2021 3:28 pm

  Central Bank of Russia Hikes Policy Rate by 25 bps to 6.75%

  

  The Central Bank of Russia announced on Friday that it raised its policy rate by 25 basis points to 6.75% from 6.5%, compared to the market expectation for an increase of 50 basis points, as reported by Reuters.

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• 10 September 2021 3:19 pm

  Risk Currencies Limit Dollar Gains After US-China Talks

  The dollar fell as growth-linked currencies rose after the Chinese yuan climbed to a one-week high on news that US President Joe Biden and Chinese leader Xi Jinping spoke for the first time in seven months. The White House said in a statement that Biden and Xi had a “broad …

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• 10 September 2021 2:11 pm

  Gold is Rising, Supported by Growth Risks, But Heading For a Weekly Loss

  

  Gold surpassed $1,800 on Friday, boosted by bets that central banks may keep interest rates relatively low to stave off continuing risks to growth. But the dollar’s rise in general, with investors seeking indications about the timing of the schedule to reduce stimulus by the US Federal Reserve, kept gold …

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• 10 September 2021 1:14 pm

  European Shares Track The Rally in Asia

  

  European shares rose, tracking a positive trading session in Asia, even as investors weighed the risks of monetary tightening after the European Central Bank indicated it was slowing its purchase of pandemic bonds.The pan-European Stoxx 600 index rose 0.2 percent, but was still on track to end the week lower …

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• 10 September 2021 12:40 pm

  Japan’s Topix at Its Highest Level Since 1990

  

  Japan’s Nikkei hit a six-month high, and the broader Topix touched its highest level since 1990, continuing its rally since the end of August on hopes of a new government formation and a further improvement in profits. News that US President Joe Biden and his Chinese counterpart Xi Jinping held …

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• 9 September 2021 6:04 pm

  US: Weekly Initial Jobless Claims Drop to 310K

  

  There were 419,000 initial claims for unemployment benefits in the US during the week ending September 3, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 345,000 (revised from 340,000) and well below market expectations of 335,000

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• 9 September 2021 4:57 pm

  Gold Moves on Unemployment Data

  

  Gold fell in Thursday morning trading in Asia, remaining near two-week lows. The strengthening of dollar index futures also contributed to the losses of the yellow metal, while investors are also awaiting the latest policy decision of the European Central Bank. Also, gold futures fell 0.21% to $1,789.75 after reaching …

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• 9 September 2021 3:52 pm

  ECB Leaves Key Rates Unchanged

  

  The European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations, the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as expected.

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