Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 21 May 2021 1:07 am

  Oil Maintains Losses For Third Straight Day

  

  Oil prices declined on Thursday for the third consecutive session, with expectations that progress in talks between the United States and Iran regarding the nuclear deal might lead to lifting sanctions, thus increasing market supplies. Brent crude futures for July delivery fell by $1.55, or 2.3%, to finish at $65.11 …

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• 21 May 2021 12:30 am

  Biden to Propose New Budget Next Week

  

  The President of the United States, Joe Biden, is set to reveal his first detailed budget proposal on May 28, the White House announced on Wednesday. The new budget will be for the upcoming fiscal year starting next October. Biden took office last January, making this the first fiscal year …

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• 20 May 2021 11:47 pm

  Dollar Erases All Gains Driven by Fed’s Meeting Minutes

  

  The U.S. Dollar (USD) returned to the downward trend on Thursday, declining against most major currencies and erasing its short-lived gains following the release of the Federal Reserve April’s meeting minutes yesterday. Markets were relatively taken by surprise when the minutes showed that although members of the Federal Open Market …

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• 20 May 2021 10:40 pm

  Gold Extends Best Rising Streak in a Year

  

  Gold prices rose on Thursday, recovering from a brief earlier decline, extending its rising trend to the sixth consecutive session. This is the longest rising streak for the yellow metal contracts since the beginning of the year. Gold is maintaining its gains despite the improvement in risk sentiment, as evident …

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• 20 May 2021 9:51 pm

  European Stocks Rebound and Close Higher

  

  European stocks finished Thursday on a higher note, supported by an improved risk appetite and investors seeking to purchase shares at relatively low prices, following the recent drop due to inflation fears. After recent selling pressures, the European stocks markets regained some ground in today’s session, with the pan-European STOXX …

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• 20 May 2021 9:00 pm

  Philly Fed’s Business Index Falls in May

  

  The Federal Reserve Bank of Philadelphia’s business activity index declined to 31.5 this month from 50.2 in April, showing a steep decline in activity. The survey results, published on Thursday, indicated that factory activity plummeted this month, following its best increase in about 50 years last month. The employment index …

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• 20 May 2021 8:00 pm

  UK Factory Orders Surge in May

  

  Industrial orders in the United Kingdom (UK) rose this month by the fastest pace since December 2017, data showed on Thursday. The industrial orders balance increased to 17 in May from -8 in April, according to the Confederation of British Industry (CBI). During the past three months, the total growth …

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• 20 May 2021 7:36 pm

  Japan’s Exports Register Biggest Increase in 11 Years

  

  Japanese exports recorded in April its largest increase since 2010, increasing hopes for recovery from the impacts of the coronavirus pandemic, official data showed on Thursday. Last month, Japan’s exports grew by 38% on an annual basis, exceeding market expectations of a less than 31% increase, and more than double …

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• 20 May 2021 6:44 pm

  German Producer Prices Surge 5.2% in April

  

  Producer prices in Germany surged in April by 5.2% on an annual basis, official data showed on Thursday. Recent supply disruptions are leading to rising inflation pressure, following a 3.7% increase in producer prices in March, according to the Federal Statistical Office of Germany. On a monthly basis, producer prices …

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• 20 May 2021 5:51 pm

  U.S. Jobless Claims at Lowest Level Since Pandemic Began

  

  Applications for new claims of unemployment benefits in the United States declined below 500,000 last week, data showed on Thursday. The initial claims for state unemployment benefits decreased by 34,000 to a seasonally adjusted 444,000 for the week ended May 15, according to the U.S. Department of Labor. This marked …

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• 20 May 2021 4:18 am

  U.S. Bank Regulator Warns Against Overconfidence Following Pandemic

  

  The new leader of the Office of the Comptroller of the Currency (OCC), an independent bureau within the United States Department of the Treasury, has warned against overconfidence in the banking sector, calling for caution. Michael Hsu, pointed to the recent Archegos Capital fund crisis, which negatively impacted a number …

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• 20 May 2021 4:00 am

  ECB Warns Against Post-Pandemic Zombie Companies Challenge

  

  The Financial Stability Review by the European Central Bank (ECB) showed on Wednesday that the low interest rates are adding to the challenge of zombie companies, noting that recovery will reveal the extent of the problem. According to the report, risks of financial stability are increasing in Europe, especially with …

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• 20 May 2021 2:45 am

  NYSE Closes Lower Following Fed’s Meeting Minutes

  

  The main indices of the New York Stock Exchange (NYSE) finished lower on Wednesday, following the release of the United States Federal Reserve’s April meeting minutes, which showed an intention to discuss the future of the large asset purchases in upcoming meetings. Recent mixed economic data and the Fed’s remarks …

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