Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 9 July 2021 12:44 am

  Oil Rebounds Despite Recovery Concerns and Uncertainty

  

  Oil prices rebounded on Thursday, recovering some of its recent huge losses, after data showed a drop in the U.S. crude oil inventories, despite uncertainty about the future of the OPEC+ output cuts. In addition, markets are seeing rising concerns about the pace of economic recovery and resurgence of the …

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• 8 July 2021 10:59 pm

  Gold Logs First Loss in Six Sessions

  

  Gold prices declined on Thursday, snapping a five-session rising streak, amid increasing selling pressures with investors adjusting their positions amid losses by the U.S. Dollar (USD) and stocks markets. Given the recent rises, selling pressures might have also resulted from profit-making. Gold futures for August delivery lost $1.90, or 0.1%, …

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• 8 July 2021 10:19 pm

  Rising Pandemic Concerns Focused on New Variants Despite Vaccinations

  

  A recent report has warned against the rising number of Coronavirus (COVID-19) cases and fatalities, despite the improvement that is mostly attributed to the wide rollout of vaccines. Experts in the Yale School of Public Health and the Commonwealth Fund believe that without a vaccination program, there would have been …

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• 8 July 2021 9:21 pm

  European Stocks Log Worst Losses in Two Months

  

  European stocks dropped on Thursday, with all market sectors closing in red, amid worried about the new coronavirus (COVID-19) variants. The pandemic-related concerns are driving more investors into safe havens, such as the bonds, which is reflecting negatively on the stock market due to questions about maintaining the pace of …

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• 8 July 2021 7:25 pm

  U.S. Oil Inventories Down for Seventh Week in Row

  

  Crude oil inventories in the United States declined last week for the seventh consecutive week, according to official data released on Thursday. The U.S. Energy Information Administration (EIA) reported that crude inventories fell by 6.866 million barrels last week. The drop in oil inventories exceeded most market expectations of a …

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• 8 July 2021 5:39 pm

  ECB’s Lagarde: Inflation Target at 2% is Not a Ceiling

  

  European Central Bank President Christine Lagarde has said that the new 2% symmetric inflation target means that level is not a ceiling. The ECB abandoned its “below, but close to 2%” target in its strategic review published earlier.

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• 8 July 2021 4:41 pm

  US: Weekly Initial Jobless Claims Rose to 373K

  

  There were 373,000 initial claims for unemployment benefits in the US during the week ending July 2, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading more than the market expectation for a reading of 350,000 and followed last week’s upwardly revised reading of …

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• 8 July 2021 4:20 pm

  Gold Rises, Awaiting Data

  

  Gold fell in Thursday morning in Asia as investors continued to digest the US Federal Reserve’s meeting minutes from the latest policy meeting. A stronger dollar and lower US Treasury yields also limited the yellow metal’s gains. However, the US dollar index and bond yields fell at the beginning of …

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• 8 July 2021 3:18 pm

  ECB Adopts Symmetric 2% Inflation Target

  

  The European Central Bank has shifted to a symmetric inflation target of 2% contrary to a ceiling at that level, the decision was fully expected by markets. The ECB stated it would allow short-term deviations from that goal, including a moderate spell above target. This is a step back from …

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• 8 July 2021 2:44 pm

  Japan Declares The State of Emergency in Tokyo, Two Weeks Before The Olympics

  

  Japanese Prime Minister Yoshihide Suga approved the declaration of a state of emergency in Tokyo Thursday, July 8, in preparation for the Olympics scheduled to begin in two weeks. The declared state of emergency will continue until the end of the Olympic Games, due to fears that the organization will …

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• 8 July 2021 2:08 pm

  German Exports Rise 0.3% in May

  

  German exports rose again in May by 0.3%, indicating a continued recovery in Europe’s largest economy. The German Federal Statistics Office said Thursday, July 8 that seasonally-adjusted exports rose 0.3% month-on-month, after a downwardly revised 0.2% increase in April. Imports also rose by 3.4% month-on-month in May, topping Reuters expectations, …

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• 8 July 2021 1:39 pm

  Oil Prices Falling as Uncertainty Continues Over OPEC + Decisions

  

  Oil prices continued to plummet, amid uncertainty about the outlook for the OPEC+ agreement and output policies. Major producers are in disagreement about extending the current output cuts, which are gradually being eased, with recent talks about quotas and production levels not leading to a consensus. Brent crude futures for …

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• 8 July 2021 1:05 pm

  Japanese Shares Fall After Tokyo Declared a State of Emergency Ahead of The Olympics

  

  Japanese stocks fell Thursday, July 8, before the country announced the re-imposition of a state of emergency to contain the rise in COVID-19 cases, which raised fears of an economic slowdown. The benchmark Nikki index fell by 0.88% to its lowest closing level in more than two weeks at 28,118.03 …

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