Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 29 January 2021 11:45 pm

  Gold Futures Logs First Gains in Seven Sessions

  

  Gold prices rose on Friday, limiting their monthly losses during January, amid a fluctuating performance by the U.S. Dollar (USD) and concerns about the rollout of Coronavirus vaccines. This marked the first gains for the yellow metal most active contracts in seven sessions, after six consecutive declines. Gold futures for …

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• 29 January 2021 11:25 pm

  U.S. Oil Rig Count Rises for 10th Week in Row

  

  The number of active oil and natural gas rigs increased this week for the tenth consecutive week, according to the weekly report by Baker Hughes. This marked the biggest number of increases in a row for the rig count since June 2018. In addition, January marked the sixth consecutive monthly …

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• 29 January 2021 10:24 pm

  Bitcoin Surges after Elon Musk’s Twitter Message

  

  Bitcoin surged on Friday, after Billionaire and business tycoon Elon Musk added a hashtag with the name of the world’s largest cryptocurrency to his Twitter bio. The digital currency is currently up by around 9% at $35,377, but earlier today, it rose by as much as 20% after the move …

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• 29 January 2021 10:11 pm

  European Stocks See Worst Weekly Losses since October

  

  European stocks closed Friday lower, due to reduced risk sentiment among investors due to the recent correction wave that followed some unusual surges on retail stocks due to speculations. In addition, concerns about the rollout of Coronavirus vaccines deepened the European market losses this week. The STOXX Europe 600 index …

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• 29 January 2021 10:04 pm

  U.S. Consumer Sentiment Declines in January

  

  Consumer Sentiment in the United States declined marginally in January, according to the University of Michigan Surveys of Consumers. The Consumer Sentiment Index registered 79.0 in January 2021, down from 80.7 in December. In addition, the index remain below its level in January 2020 at 99.8, prior to the Coronavirus …

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• 29 January 2021 9:56 pm

  Chicago Business Barometer at Highest Level in 2.5 Years

  

  The Chicago Purchasing Managers’ Index (PMI), or the Chicago Business Barometer, rose by 5.1 points to 63.8 in January, according to data by ISM-Chicago and MNI on Friday. This is the highest reading for the index since July 2018. Surveyed business had various responses to the question, “How is the …

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• 29 January 2021 7:30 pm

  U.S. Pending Home Sales Down for Fourth Month

  

  The United States Pending Home Sales Index declined by 0.3% in December to 125.5, data by the the National Association of Realtors (NAR) showed on Friday. This is the fourth consecutive monthly decline for the index. On an annual basis, pending home sales rose by 21.4% last month. Meanwhile, existing …

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• 29 January 2021 6:02 pm

  Canada: Real GDP Grows by 0.7% in November

  

  Canada’s Real Gross Domestic Product (GDP) expanded by 0.7% in November to mark its seventh straight monthly expansion, the data published by Statistics Canada showed on Friday. This reading came in higher than the market expectation of 0.4%.

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• 29 January 2021 6:01 pm

  Chevron Turns Into a Loss in The Last Quarter Due to Weak Refining Activities

  

  The US oil giant Chevron turned to incur losses in the fourth quarter of $ 11 million, as lower fuel margins, the costs of acquisitions and the effects of foreign currency overshadowed the improvement in the results of exploration activities. It is expected that oil companies will benefit from the …

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• 29 January 2021 4:54 pm

  Reuters Survey: OPEC Oil Production Rose in January For 7th Month in a Row

  

  A Reuters survey concluded that OPEC oil production increased for a seventh month in January after the organization and its allies agreed to further ease record restrictions on supplies, but an involuntary drop in Nigeria’s exports limited the increase. The survey revealed that the 13 member states of the Organization …

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• 29 January 2021 3:58 pm

  Turkish Tourism Revenues Fall 65% in 2020

  

  Data from the Turkish Statistical Institute showed that the country’s tourism revenues in 2020 decreased by 65.1% to 12.059 billion dollars, showing the impact of the widespread travel restrictions imposed due to the emerging coronavirus pandemic. The data also revealed that tourism revenues in the fourth quarter of last year …

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• 29 January 2021 3:55 pm

  WTI Settles Above $ 52

  

  WTI settled unchanged this week, with futures settling above $52 a barrel, but below an 11-month high that touched it earlier in the month, as worries about fuel demand overshadowed lower global supplies. Earlier in January, OPEC+ announced production cuts through the first quarter of 2021, Saudi Arabia engaged in …

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• 29 January 2021 3:19 pm

  BofA: The Scramble to Buy Stocks Continues on Retail Fever

  

  Data for the weekly flows of Bank of America showed that investor money continued to flow at unprecedented levels on stocks last week in light of the retail trading fever, which saw GameStop shares rise more than 2500% since the beginning of the year so far for some time. In …

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