Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 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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• 8 July 2021 2:07 am

  Fed’s Bostic Warns COVID-19 Delta Variant Might Slow Recovery

  

  President of the Federal Reserve Bank of Atlanta, Raphael Bostic, has warned that a new wave of the coronavirus pandemic with the Delta variant might hinder or slow the economic recovery, with an impact on consumer demand. “If we see spikes in infections that will likely mean that people are …

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• 8 July 2021 1:46 am

  Dollar Stabilizes with Modest Gain After Fed Minutes

  

  The U.S. Dollar stabilized on Wednesday against most major peers, with last month’s Federal Reserve meeting minutes showing caution among monetary policymakers regarding tapering after a surge in inflation that exceeded expectations. The Dollar Index (DXY), which measures the greenback against a basket of six peers, rose by 0.18% to …

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• 8 July 2021 12:38 am

  Oil Maintains Losses amid Continued Uncertainty

  

  Oil prices continued to plummet on Wednesday, 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 …

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• 7 July 2021 11:02 pm

  Gold Maintains Gains for Fifth Session in Row

  

  Gold prices maintained an upwards trend for the fifth consecutive session on Wednesday, despite the rise of the U.S. Dollar (USD) across the board. However, the yellow metal was supported by the drop in U.S. Treasury bond yields to their lowest level since February, amid higher demand for safe-haven investments, …

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• 7 July 2021 10:50 pm

  European Stocks Rebound and Near All-Time Closing High

  

  European stocks closed higher on Wednesday after the European Commission increased its expectations for economic growth in the Eurozone. The European Union is now projecting the Eurozone gross domestic product (GDP) to grow by 4.8% in 2021 and 4.5% for 2022. The STOXX Europe 600 index rose by 3.55 points, …

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• 7 July 2021 10:29 pm

  FOMC Minutes Show Inflation Could Remain Above 2% Beyond 2023

  

  Minutes of the Federal Open Market Committee (FOMC) June meeting showed participants focused on data showing lower employment growth and higher inflation readings than had been expected. The median expectation is that the Federal Reserve will begin tapering its asset purchases in the first quarter (Q1) of 2022, before ending …

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• 7 July 2021 9:13 pm

  IBD/TIPP Economic Optimism Drops in July

  

  U.S. consumer confidence declined this month, as the IBD/TIPP Economic Optimism Index dropped 3.7% from 56.4 in June to 54.3 in July. Nevertheless, the index remained in the positive territory, above 50.0, for the seventh consecutive month. The Presidential Leadership Index fell by 8% from 61.2 last month to 56.3, …

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• 7 July 2021 8:31 pm

  Canada’s Ivey PMI Rebounds in June

  

  Economic activity in Canada expanded last month showing more signs of recovery, Ivey Purchasing Managers Index (PMI) data showed on Wednesday. The Canadian seasonally adjusted Ivey Purchasing Managers’ Index (PMI) increased in June to 71.9 from 64.7 in May. This marked the highest reading for the index since March. The …

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• 7 July 2021 8:03 pm

  U.S. Job Openings Hit Record High in May – JOLTS

  

  Job openings in the United States increased to hit a new record high in May, data by the U.S. Department of Labor showed on Wednesday. The Job Openings and Labor Turnover Survey (JOLTS) monthly report showed that job openings rose by 16,000 to reach 9.2 million by the end of …

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• 7 July 2021 6:05 pm

  Japan Considers Declaring a State of Emergency in Tokyo Before The Olympics

  

  Japan is considering banning all spectators from participating in the Olympics, Reuters reported on Wednesday, with authorities expected to declare a state of emergency in Tokyo to contain coronavirus cases 16 days before the Olympic Games. In this regard, Prime Minister Yoshihide Suga said that his government will decide on …

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• 7 July 2021 4:55 pm

  No OPEC+ Ministerial Meeting Planned This Week – TASS

  

  According to Russian news agency TASS, OPEC+ producers will not be holding a meeting this week to break the impasse in the output strategy. “This week will be difficult. Negotiations are in progress, and there are no signs yet that the meeting will take place this week. The problem remains …

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