Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 4 June 2021 3:29 pm

  Oil Advances Towards $72, Supported by Demand Expectations

  

  Oil rose towards $72 a barrel on Friday, June 4, to trade near its highest level in two years, as the OPEC+ plan on supplies and recovering demand overshadowed concerns about the irregular activity of vaccinations against Covid-19 globally. The Organization of the Petroleum Exporting Countries (OPEC) and its allies …

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• 4 June 2021 2:38 pm

  Russia Expects The WHO to Approve The Sputnik V Vaccine Within Two Months

  

  Kirill Dmitriev, head of the Russian Direct Investment Fund, told Reuters that Russia expects WHO to approve the Sputnik-V vaccine against COVID-19 within two months. The Russian fund is responsible for marketing the vaccine. Dmitriev stated that the European Medicines Agency, which is also reviewing the Russian vaccine, “has obtained …

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• 4 June 2021 2:18 pm

  Eurozone Retail Sales Fell More Than Expected in April

  

  Data showed that retail sales in the euro area fell more than expected in April, affected by a decline in sales of non-food products, but it is still much higher than it was 12 months ago when most countries were subject to strict lockdown measures linked to the pandemic. The …

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• 4 June 2021 1:39 pm

  Gold Hits a Two-Week Low Due to The Dollar’s Rise, With US Data Awaiting…

  

  Gold fell to its lowest level in more than two weeks Friday, June 4, weighed by a stronger dollar, while investors awaited the US non-farm payrolls data for May, as bets loomed on a possible scaling back of stimulus measures by the US Federal Reserve. And gold fell in spot …

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• 4 June 2021 1:06 pm

  Oil Prices Are Falling as Pessimism About The Corona Virus Continues

  

  Oil prices fell on Friday, June 4, as optimism about a recovery in fuel demand waned, in light of concerns about the irregular delivery of Covid-19 vaccines globally. Brent crude fell 13 cents, or 0.2%, to $ 71.18 a barrel, after falling 4 cents yesterday, Thursday, after rising to its …

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• 4 June 2021 12:30 pm

  Japan Shares Mixed Before US Data

  

  Japanese stocks were mixed at the close Friday, June 4, affected by growth-related stocks, while investors awaited the important US jobs report, which may increase concerns about inflation and talk of reduced purchases by the Federal Reserve. The Nikkei index closed down 0.40% to 28,941.52 points after two days of …

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• 4 June 2021 5:51 am

  Fed’s Decision on Corporate Bonds Signals Beginning of Policy Tweaks

  

  The U.S. Federal Reserve on Wednesday announced that it will begin reducing its purchases of corporate assets, as the economy recovers from the coronavirus pandemic. The Fed believes that such support measurement was needed in the midst of the recession caused by the pandemic, noting that now is time to …

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• 4 June 2021 5:06 am

  NYSE Closes Lower Ahead of Jobs Report

  

  The New York Stock Exchange (NYSE) finished lower on Thursday, with tech stocks leading the decline. In addition, a rise in Treasury bond yields to their highest level in more than two weeks weighed on the stock market. The Dow Jones Industrial Average slipped by 23.34 points, or 0.07%, to …

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• 4 June 2021 4:30 am

  Oil Closes Lower on U.S. Gasoline Inventory Buildup

  

  Oil prices finished marginally lower on Thursday, despite the huge drop in U.S. crude inventories, as a surprise buildup in gasoline and distillates stockpiles led to some concerns about the pace of demand recovery. However, oil futures remain mostly elevated supported by the market stability assured by the recent decision …

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• 4 June 2021 4:06 am

  Gold Drops and Loses $1,900 Key Support Level

  

  Gold prices fell on Thursday to close below the $1,900 level, losing an important support level and finishing at the lowest level in about three weeks. The rise of the U.S. Dollar (USD) against major peers and the elevated risk sentiment among investors, both on the back of the positive …

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• 4 June 2021 2:00 am

  Dollar Near Three-Week High on Positive Data

  

  The U.S. Dollar (USD) rose on Thursday to its highest level in about three weeks, as positive economic data showed a drop in jobless claims, the biggest surge in private payrolls in about a year, and an improvement in the services and manufacturing sectors. Moreover, markets are anticipating tomorrow’s release …

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• 3 June 2021 11:30 pm

  European Stocks Close Mostly Lower Despite Positive Data

  

  European stocks showed a mixed performance on Thursday, as positive economic data boosted investors’ sentiment amid anticipation for the May jobs report in the U.S. The STOXX Europe 600 index lost 0.12% to close at 450.79 points, after finishing at a new record high on Wednesday. Meanwhile, the basic resources …

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• 3 June 2021 10:03 pm

  EIA Reports Weekly Rise in U.S. Natural Gas Supplies

  

  Natural gas inventories in the United States increased by 98 billion cubic feet (bcf) last week, according to estimates by the U.S. Energy Information Administration (EIA). The EIA weekly report showed on Thursday that natural gas supplies reached 2.313 trillion cubic feet, decreasing by 386 bcf compared with the same …

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