Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 16 June 2021 5:31 am

  Fed Likely to Maintain Policy and Point to Rate Hike in 2023

  

  The U.S. Federal Reserve will likely maintain its current policy and make no changes in the two-day policy meeting that is concluding on Wednesday. Some analysts have expected the policy statement will point to the next interest rate hike taking place in 2023. Investors will closely examine the monetary policy …

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• 16 June 2021 2:08 am

  U.S. Oil Inventories Down 8.5 M Barrels

  

  Crude oil inventories in the United States reportedly declined by 8.5 million barrels last week, according to data by the American Petroleum Institute (API) released on Tuesday 11. Meanwhile, gasoline inventories are estimated to have rose by about 2.9 million barrels. Distillate stockpiles increased by about 2 million barrels. Official …

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• 16 June 2021 1:39 am

  Wall Street Closes Lower Ahead of Fed’s Statement

  

  The New York Stock Exchange (NYSE) closed lower on Tuesday, with Wall Street investors shifting their focus towards the Federal Reserve meeting, which is concluding on Wednesday. The Dow Jones Industrial Average closed lower by 94.42 points, or 0.27%, at 34,299.33 points. Meanwhile, the S&P 500 declined by around 8.56 …

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• 16 June 2021 1:06 am

  GBP/USD Rebounds from Two-Month Low

  

  The British Pound (GBP) showed a mostly negative performance against the U.S. Dollar (USD) on Tuesday, ahead of the U.S. Federal Reserve’s interest decision and policy statement, which is due on Wednesday. The GBP/USD pair reached its lowest level in about two months at 1.4034, after falling from a daily …

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• 16 June 2021 12:56 am

  AUD/USD Declines to Near 11-Day Low

  

  The Australian Dollar (AUD) declined against the U.S. Dollar (USD) on Tuesday, after the release of the Reserve Bank of Australia’s (RBA) June meeting minutes. Minutes showed that the Australian central bank remains committed to extending the quantitative easing, seeing that tapering or ending the bond buying program would be …

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• 15 June 2021 11:39 pm

  Oil Maintains Gains for Fourth Day in Row

  

  The oil prices rally continued on Tuesday, with expectations for demand recovery in the summer with more countries easing lockdown measures against the coronavirus pandemic. More states in the U.S. plan to ease the remaining restrictions due to the increased rates of vaccination. Brent Crude futures for August delivery rose …

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• 15 June 2021 10:00 pm

  Gold Closes at Mont-Low Ahead of Fed Meeting

  

  Gold prices declined on Tuesday, to close at their lowest level in about a month, as the U.S. Dollar (USD) continues to fluctuate with markets anticipating the outcomes of the Federal Reserve. Talks about possible tapering seem to be weighing on the yellow metal ahead of the Fed’s decision. Gold …

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• 15 June 2021 9:03 pm

  European Stocks Close at Another Record High

  

  European stocks finished Tuesday at a new record high, with the chemicals and insurance stocks leading the gains. The STOXX Europe 600 index finished higher by 0.11% at 458.81 points. Today marked the eighth consecutive record-high closing level for the pan-European index, which gained about 15% since the beginning of …

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• 15 June 2021 7:57 pm

  U.S. Housing Market Index Declines

  

  The U.S. Housing Market Index declined this month to 81 from its reading of 83 in May, data by the National Association of Home Builders showed on Friday. The reading comes below market expectations of maintaining the same level of last month. The gauge of home sales for the coming …

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• 15 June 2021 7:51 pm

  U.S. Business Inventories Rise in April

  

  Business inventories in the United States declined by 0.2% in April, official data showed on Tuesday. The reading follows a rise of 0.2% in March. On the annual level, inventories fell by 3.6%, according to the U.S. Department of Commerce. Retail inventories plunged by 1.8%, after decreasing by 1.4% in …

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• 15 June 2021 5:58 pm

  US: Industrial Production Expands by 0.8% in May

  

  Industrial Production in the United States expanded by 0.8% on a monthly basis in May, the US Federal Reserve reported on Tuesday. This reading followed April’s growth of 0.1% (revised from 0.7%) and came in slightly better than the market expectation for an increase of 0.6%.

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• 15 June 2021 5:15 pm

  US Retail Sales Decline by 1.3% to $620.2 Billion

  

  Retail Sales in the US fell by 1.3% to $620.2 billion in May following April’s expansion of 0.9% (revised from 0%), the data published by the US Census Bureau revealed on Tuesday. This reading came in weaker than the market expectation for a decrease of 0.8%.

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• 15 June 2021 4:50 pm

  Cautious Trading on The Dollar Due to Uncertainty About The Fed Meeting

  

  The dollar settled near multi-week highs as traders exercise caution ahead of a two-day Federal Reserve policy meeting that is likely to hint at plans to start tapering bond purchases. So far, Fed officials led by Chairman Jerome Powell have stressed that the increase in inflationary pressures is temporary and …

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