Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 31 July 2021 11:11 am

  Weekly Recap: 26 – 30 July

  

  Markets went through something of a rollercoaster during the final week of July, which was highlighted by the release of important economic data and indicators, including GDP and inflation, and the U.S. Federal Reserve fifth meeting of the year. In Europe, a preliminary reading showed growth during the second quarter …

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• 31 July 2021 4:44 am

  Fed’s Bullard Wants Tapering Decision in September

  

  President of the Federal Reserve Bank of St. Louis, James Bullard, believes the United States Federal Reserve should take a decision about tapering the massive asset purchases in September and begin the process during the first quarter of next year. Bullard believes that monetary policymakers need to consider the possibility …

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• 31 July 2021 4:04 am

  Wall Street Gives Up Early Gains and Finish the Week with Losses

  

  The main indices of the New York Stock Exchange (NYSE) finished lower on Friday, registering a weekly decline but maintaining monthly gains in July, with Wall Street investors worried about the spread of Coronavirus Delta variant, despite the positive earnings reports by some of the market’s major listed companies. The …

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• 31 July 2021 3:08 am

  Oil Scores Fourth Consecutive Monthly Rise

  

  Oil prices finished higher on Friday, extending their weekly and monthly increases, amid expectations for tight supply over the coming months, with a recovery in the demand in the market. Brent crude futures gained 28 cents, or 0.37%, to settle at $76.33 per barrel. The global benchmark crude front-month contract …

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• 31 July 2021 12:13 am

  EU Imposes Record High Fine on Amazon for Data Violation

  

  The European Union has imposed a huge fine on Amazon.com due to violating data protection rules. The e-commerce giant will have to pay a record $886.6 million for processing personal data in violation of the EU’s General Data Protection Regulation (GDPR). A ruling was issued by the Luxembourg National Commission …

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• 30 July 2021 11:11 pm

  Gold Declines to Limit Weekly and Monthly Rise

  

  Gold prices declined on Friday, as the U.S. Dollar (USD) rebounded from its recent losses, but the yellow metal was able to maintain the key $1,800 level by the end of the week to register weekly gains. Front month futures closed lower by $18.60 or 1.02% at $1812.60 per ounce. …

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• 30 July 2021 9:59 pm

  European Stocks Decline but Finish July with Gains

  

  Europe’s stocks declined on Friday, retreating after closing Thursday’s trading session at a new all-time high, following the release of inflation data and more earnings reports. The STOXX Europe 600 Index lost 2.10 points or 0.45% and closed at 461.74 points. Travel and leisure stocks led today’s decline and plunged …

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• 30 July 2021 8:24 pm

  USD Rebounds Trying to Limit Weekly Losses

  

  The U.S. Dollar (USD) is showing some recovery signs on Friday, following steep declines over the past four sessions, which brought the greenback to its lowest level in about six weeks against major currencies. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies …

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• 30 July 2021 5:46 pm

  Canada: Real GDP Contracts by 0.3% in May as Expected

  

  Canada’s Real Gross Domestic Product (GDP) contracted at a monthly rate of 0.3% in May, the data published by Statistics Canada showed on Friday. This print followed April’s decline of 0.5% and came in line with the market expectation.

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• 30 July 2021 4:51 pm

  US Annual Core PCE Inflation Rises to 3.5% in June

  

  Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 0.5% in June, the US Bureau of Economic Analysis reported on Friday. On a yearly basis, the PCE Price Index remained steady at 4%. The annual Core PCE Price Index, the Federal Reserve’s …

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• 30 July 2021 3:54 pm

  Turkey’s Trade Deficit Narrowed Slightly to $2.85B in June

  

  Data from the Turkish Statistical Institute showed on Friday that the country’s foreign trade deficit shrank 0.2% year on year in June to $2.853 billion, according to the general trade system. After the trade was severely affected in the same period a year ago by the COVID-19 pandemic, Turkey’s exports …

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• 30 July 2021 3:07 pm

  Japan Extends State of Emergency, COVID-19 Cases Surge Over Olympics

  

  Japan has decided to expand the scope of the state of emergency to three prefectures near Tokyo, which hosts the Olympic Games, and Osaka prefecture in the west of the country, with an increase in cases of COVID-19 that severely affected the summer games. Tokyo is already subject to its …

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• 30 July 2021 2:20 pm

  Eurozone Preliminary GDP Rebounds 2.0% in Q2

  

  The Eurozone economy rebounded 2.0% on quarter in the three months to June of 2021, beating 1.5% expected and -0.3% prior, the first estimate showed on Friday. On an annualized basis, the bloc’s GDP rate expanded by 13.7% in Q2 vs. -1.3% booked in the first quarter of 2021 while …

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