Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 7 May 2021 9:10 pm

  U.S. Rig Count Reaches Highest Level in a Year

  

  The number of active rigs drilling for crude oil and natural gas in the United States increase for the second consecutive week, according to data by Baker Hughes released on Friday. The total rig count rose by eight to 448 during the week ended May 7, reaching its highest level …

  Read More »
• 7 May 2021 8:00 pm

  Canada’s Ivey PMI Slows in April

  

  Economic activity in Canada continued to expand during April but a slower pace compared with its highest level in 10 years, which was recorded in March, data showed on Friday. The seasonally adjusted Ivey Purchasing Managers Index (PMI) retreated to a 60.6 in April from a reading of 72.9 in …

  Read More »
• 7 May 2021 7:32 pm

  U.S. Wholesale Inventories Edge Higher in March

  

  Wholesale inventories in the United States increased less than expected in March, due to a huge surge in sales that resulted from stronger local demand, according to official data released on Friday. A final reading showing that wholsale inventories rose by 1.3%, compared with an initially estimated 1.4% for March, …

  Read More »
• 7 May 2021 7:02 pm

  Canada’s Unemployment Rate Rises in April

  

  Canada’s economy lost 207,000 jobs last month due to the resurgence of the Coronavirus pandemic, which led to renewed restrictions and lockdown measures, official data showed on Friday. Accordingly, the Canadian unemployment rate increased in April to 8.1% from 7.5% in March, according to Statistics Canada. Data showed that the …

  Read More »
• 7 May 2021 5:26 pm

  U.S. New Jobs Report Comes Below Expectations in April

  

  The United States economy added fewer jobs than expected during April, official government data showed on Friday. The U.S. Department of Labor monthly report showed that nonfarm payrolls increased by 266,000 jobs last month. This follows a 770,000 increase in March and compared with market expectations of 978,000 new jobs. …

  Read More »
• 7 May 2021 4:10 pm

  BofA: Stocks Attracted $18.5B This Week

  

  Bank Of America’s analysis of weekly fund flow statistics showed that investors bought a lot of global stocks in the week ending Wednesday, as companies reported huge profits and major central banks downplayed concerns related to a return to monetary stimulus. Equity funds attracted $18.5 billion, which was mainly driven …

  Read More »
• 7 May 2021 3:32 pm

  The Dollar Near Weekly Low Ahead of The US Jobs Data

  

  The dollar held on Friday, May 7, near its lowest level in a week, as it is under pressure ahead of the release of US jobs data, which is expected to boost hopes for a strong economic recovery after the pandemic and support investors’ appetite for risk. Against a basket …

  Read More »
• 7 May 2021 3:27 pm

  Oil Rising Thanks to Chinese And US Data, What’s Next?

  

  Oil prices recovered after a 1% drop in the previous session, with the support of positive economic data from China and the United States, but the outbreak of the Covid-19 pandemic in India put pressure on prices. Brent crude futures for July delivery were at $68.40 a barrel, up 31 …

  Read More »
• 7 May 2021 1:46 pm

  Japan Shares Rise on Tech Gains, And COVID-19 Measures Limit Rallies

  

  Japanese shares closed higher on Friday, May 7, as investors flocked to inexpensive technology shares, while gains were capped by concerns about a slow economic recovery amid extended emergency measures linked to COVID-19. The Nikkei index rose 0.09% to close at 29,357.82 points, while the broader Topix index rose 0.29% …

  Read More »
• 7 May 2021 1:45 pm

  China’s Trade Surplus With The United States Rises to $ 28.1 Billion in April

  

  Reuters calculations based on data from Chinese customs found that China’s trade surplus with the United States amounted to $28.11 billion in April, up from $21.37 billion in March. In the first four months of 2021, China had a trade surplus of $100.68 billion with the United States.

  Read More »
• 7 May 2021 1:01 pm

  German Companies Increase Their Exports For The Eleventh Month in a Row

  

  Data from the German Federal Statistics Office showed that German companies defied the Coronavirus crisis and raised their exports for the eleventh consecutive month, as exports grew at 1.2%, which is twice what economists had expected. However, imports also rose, as the value of Germany’s imports increased 6.5% in March …

  Read More »
• 7 May 2021 12:40 pm

  India Records More Than 414,000 New Cases of Corona

  

  On Friday, May 7 India recorded 414,188 new cases of coronavirus during the past 24 hours, in a new daily record increase, while daily deaths jumped by 3,915. The number of cases in the country currently stands at 21.49 million, while the total number of deaths has reached 23,4083. This …

  Read More »
• 7 May 2021 12:20 pm

  Gold Heading For Its Best Weekly Performance in 6 Months

  

  Gold prices rose on Friday, May 7, to a two-and-a-half-month high, and is heading to achieve the best weekly performance in 6 months, supported by the decline of the dollar and a decline in US Treasury bond yields, while investors are cautiously awaiting the US nonfarm payrolls report due to …

  Read More »