Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 8 June 2021 6:06 pm

  World Bank: Global Growth to Reach 5.6% in 2021

  

  In its latest Global Economic Prospects report, the World Bank said it forecasts the global economic growth to reach 5.6% in 2021, the strongest post-recession pace in 80 years, following the 3% contraction recorded in 2020, per Reuters.

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• 8 June 2021 5:25 pm

  Canada: International Trade Surplus Widens to C$0.59 Billion in April

  

  Canada’s merchandise trade surplus with the world widened to C$0.59 billion in April from a deficit of C$1.35 billion in March, the monthly data published by Statistics Canada revealed on Tuesday. This reading came in better than the analysts’ estimate for a deficit of C$0.8 billion.

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• 8 June 2021 5:16 pm

  US: Goods And Services Trade Deficit Narrows to $68.9 Billion in April

  

  The goods and services deficit of the US declined by $6.1 billion to $68.9 billion in April from $75 billion in March, the US Census Bureau reported on Tuesday. This reading came in slightly better than the market expectation of $69 billion.

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• 8 June 2021 4:59 pm

  Currency Market Volatility Fell to Pre-Pandemic Lows And Traders Waiting For New Signals

  

  Currency market volatility fell on Tuesday, June 8 to its lowest level since before the outbreak of the Corona pandemic, causing turmoil in the markets in March 2020, as investors refrained from forming positions, waiting for clearer signals about the path of inflation and the reactions of central banks. Currencies …

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• 8 June 2021 4:02 pm

  The U.S to Launch ‘Strike Force’ Targeting China Aimed to Combat Unfair Trade Practices

  

  White House is planning to launch a new “strike force” to combat unfair trade practices, mainly targeting China, Reuters reports, citing senior administration officials.

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• 8 June 2021 4:00 pm

  German ZEW Economic Sentiment Index Drops Unexpectedly to 79.8

  

  The German ZEW headline numbers for June showed that the Economic Sentiment Index worsened unexpectedly to 79.8 from 84.4 previous while beating estimates of 86.0. Meanwhile, the Current Conditions sub-index recovered firmly to -9.1 in June as against -40.1 recorded in the previous month and -27.8 expectations.

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• 8 June 2021 3:09 pm

  Bitcoin Records a Record Outflow of 141 Million Dollars in a Week

  

  Data from cryptocurrency management CoinShares released Monday showed that bitcoin funds and products saw a record outflow of inflows last week as investors remained wary of the world’s largest cryptocurrency. Bitcoin outflows amounted to $141 million in the week ending June 4th, representing 8.3% of the net inflows it attracted …

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• 8 June 2021 2:21 pm

  German Industrial Output Fell by 1%, Contrary to Expectations in April

  

  German industrial output unexpectedly fell in April, data showed, in a sign that semiconductor shortages and other supply bottlenecks are undermining the recovery of Europe’s largest economy. The Federal Statistics Office said industrial output fell 1% compared to the previous month, after an increase that was revised down to 2.2% …

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• 8 June 2021 1:36 pm

  Utilities And Telecommunications Support European Shares

  

  European shares rose on Tuesday, June 8, boosted by utilities and telecoms companies, but weak German industrial output and doubts about a UK lifting of restrictions later this month capped gains. The European Stoxx600 index rose 0.2% by euro morning, holding below its highest level ever, while sectors considered more …

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• 8 June 2021 1:07 pm

  Oil Falls on Doubts About Recovery in Demand

  

  Oil prices extended losses on Tuesday, June 8, as Chinese data revealing a decline in the country’s imports of crude in May highlighted concern about the fragility of the global recovery in demand for crude and fuel. Brent crude was down 49 cents, or 0.7%, at $71 a barrel, after …

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• 8 June 2021 12:33 pm

  Gold Falls Due to The Rise in The Dollar And The Focus on US Inflation

  

  Gold fell Tuesday, June 8 as the dollar rose, while investors cautiously awaited economic data due this week to assess inflation pressures and the US Federal Reserve’s stance on monetary policy. And gold fell in spot trading 0.1% to $ 1896.94 an ounce, while gold settled in futures trading in …

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• 8 June 2021 6:55 am

  Republicans Oppose G7 Minimum Corporate Tax Deal

  

  Recent media reports have pointed to growing opposition, within Republicans in the United States Senate, against the recent deal that the G7 summit announced to establish an agreement among major economies on a minimum corporate tax rate. The move comes shortly after the Republican Party came against the proposal of …

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• 8 June 2021 6:36 am

  Debate over the Use of Cryptocurrencies in Illegal Activities Resurfaces

  

  Once again, cryptocurrency took center stage in today’s news with the United States government seizing a ransom paid in Bitcoin, which also came under new scrutiny by authorities in the United Kingdom. The U.S. Department of Justice has reportedly recovered $2.3 million worth of cryptocurrency that was paid as a …

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