Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 31 May 2021 5:12 am

  Weekly Recap: 24-28 May

  

  The US dollar was able to end last week higher against most of the major currencies after strong US data. The yellow metal also fell to $1,890 an ounce on Friday, down from a 4-month high of 1910 on May 26. Coronavirus cases are slowly declining, and the US and …

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• 29 May 2021 6:28 am

  Bitcoin Declines to Extend Weekly Losses

  

  Bitcoin fell on Friday by more than 5% to trade near $36,340, as cryptocurrencies showed high selling pressures. The world’s largest digital currency has now lost about 4.6% over the past seven days. In a similar way, Ethereum plunged by about 7.7% to $2,515, but remained higher on a weekly …

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• 29 May 2021 3:37 am

  Oil Closes Mixed but Maintains Gains Ahead of OPEC Meeting

  

  Oil prices fluctuated on Friday and showed a mixed performance but still managed to register weekly and monthly gains on the back of positive expectations for demand recovery. Brent crude futures for July delivery rose by 17 cents, or 0.2%, to finish at $69.63 per barrel, its highest closing level …

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• 29 May 2021 2:27 am

  Gold Closes Higher to Expand Weekly and Monthly Gains

  

  Gold prices rose on Friday, extending weekly and monthly gains and restoring the $1,900 level. As recent data showed a surge in inflation, gold and other safe haven assets saw increased demand. Gold futures for August delivery rose by $6.80, or 0.4%, to close at $1,905.30 per ounce. This marked …

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• 29 May 2021 1:50 am

  U.S. Treasury Bond Yields Decline for the Week

  

  Return on the U.S. Treasury bonds declined on Friday, as the personal consumption indicators showed another surge in inflation. The rising inflation is increasing investors’ demand for safe haven assets, like the Treasury bonds, even though most expectations lean towards inflationary pressures being temporary. The benchmark 10-year Treasury bond yield …

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• 29 May 2021 1:28 am

  Dollar Erases Most Daily Gains to Settle Marginally Higher

  

  The U.S. Dollar (USD) gave up most of its gained on Friday, which were supported by the positive economic data. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up for the day by less than 0.1% at 90.06. Early in …

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• 28 May 2021 8:48 pm

  European Stocks Hit New Record High

  

  European stocks rose on Friday, closing at a new record high, and registering weekly and monthly gains. The rise in European stocks was supported by an improved investors’ sentiment, following recent positive economic data. The German benchmark DAX and the French CAC40 indices closed higher by 0.74% and 0.75%, respectively. …

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• 28 May 2021 7:51 pm

  Chicago Business PMI at Highest Level Since 1973

  

  The Chicago Business Barometer Index surged in May to reach a reading of 75.2 from a level of 72.1 in April, data showed on Friday. The Purchasing Manager Index (PMI) reached its highest level since 1973, according to ISM-Chicago. Robust demand helped boost the business activity, with the new orders …

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• 28 May 2021 5:41 pm

  US: Personal Income Declines by 13.1% in April

  

  The US Bureau of Economic Analysis (BEA) reported on Friday that Personal Income contracted by 13.1% in April. This reading came in slightly better than the market expectation for a decline of 14.1%.

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• 28 May 2021 4:36 pm

  US Annual Core PCE Inflation Jumps to 3.1% in April

  

  Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 0.6% on a monthly basis in April. This reading came in higher than the market forecast of 0.2%. On a yearly basis, the PCE Price Index rose to 3.6% from 2.4%, compared to …

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• 28 May 2021 4:18 pm

  Oil Rises to Support Positive Demand Outlook Facing Supply Concerns

  

  Oil prices rose on Friday, May 28, and Brent crude remained intact near the level of $ 70 a barrel, as positive US economic data and expectations of a recovery in global demand overshadowed concerns about an increase in supplies from Iran when sanctions are lifted. Brent rose 24 cents, …

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• 28 May 2021 3:11 pm

  Bitcoin is Down 8%, as it Heads Towards Its Biggest Monthly Loss Since September 2011

  

  Bitcoin fell on Friday May 28 to its lowest level this week, pushing losses from a growing campaign against it in China and environmental concerns to nearly 40% since the start of the month. The largest cryptocurrency added to its previous losses, dropping 8.2% to $ 35,339, as it remained …

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• 28 May 2021 2:45 pm

  Eurozone Sentiment is at a 3-Year High

  

  Data on Friday, May 28, showed economic sentiment in the eurozone improved more than expected, hitting a three-year high in May, with the biggest increases in the services, retail, and consumer sectors as governments eased pandemic-related restrictions. The European Commission’s index of economic sentiment rose to 114.5 in May from …

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