Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 11 May 2021 3:53 pm

  OPEC Leaves Its Forecast For Oil Demand in 2021 as It Is!

  

  In its latest monthly report, the Organization of the Petroleum Exporting Countries (OPEC) left its forecast for global oil demand growth for 2021 unchanged at 5.95 million barrels per day, according to Reuters. While OPEC lowered its forecast for global oil demand in the second quarter of 2021 by 300 …

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• 11 May 2021 3:07 pm

  German ZEW Economic Sentiment Index Jumps to 84 in May

  

  ​​​​​​The German ZEW headline numbers for May showed that the Economic Sentiment Index jumped to 84 from 70.7 previous. Meanwhile, the Current Conditions sub-index recovered to -40.1 in May as against -48.8 recorded in the previous month.

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• 11 May 2021 2:17 pm

  Factory Production in Turkey Rose 17% in March

  

  Data showed today, Tuesday, that industrial production in Turkey jumped 16.6% year on year in March, exceeding expectations by a large margin, to record growth for the tenth month in a row after a sharp slowdown last year, coinciding with the start of measures to combat the Coronavirus pandemic. The …

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• 11 May 2021 1:47 pm

  Japan Shares Closed Lower on The Sell-Off in the Technology Sector and Pandemic Fears

  

  Japanese stocks fell today, Tuesday, affected by technology stocks that tracked Wall Street losses overnight, while stocks related to the domestic economic cycle also fell due to concerns about the deterioration of the situation regarding the pandemic in the country. The Nikkei index fell 3.08% to 28,608.59 points, its lowest …

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• 11 May 2021 1:27 pm

  Inflation Worries Push European Stocks Lower

  

  European stocks fell from their peak on Tuesday, and technology, travel and mining stocks were among the biggest losers after concerns about high inflation in the United States drove US indexes down. The pan-European STOXX 600 index fell 1.6% after hitting a record high on Monday. Sentiment deteriorated globally after …

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• 11 May 2021 12:45 pm

  Oil Falling Due to Receding Fears of Pipeline Disruptions

  

  Oil prices declined today as fears of a long-term disruption to the Colonial Pipeline system of energy pipelines, the largest in the United States, diminished, while some US Gulf Coast refiners reduced production. US West Texas Intermediate crude futures fell 61 cents, equivalent to 0.94%, to $64.31 a barrel, after …

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• 11 May 2021 5:47 am

  Colonial Ransomware Attack Raises Questions about Cybersecurity

  

  A cyberattack on a major gasoline pipeline in the United States has been identified as a ransomware attack, which means that the aim of the attackers is likely to receive money and not perpetuating a political message or cause instability in the American energy sector. The attackers, a group called …

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• 11 May 2021 4:41 am

  Wall Street Closes Lower amid Tech Sell-Off

  

  The main indices of the New York Stock Exchange (NYSE) closed lower on Monday, due to increased selling pressures by Wall Street investors who projected concerns about a rise in inflation. After opening higher and shortly hitting a new intraday record high, the Dow Jones Industrial Average lost all of …

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• 11 May 2021 4:26 am

  Oil Finishes Marginally Higher due to Pipeline Incident

  

  Oil prices finished Monday’s trading marginally higher, on the back of concerns about a cyberattack on the Colonial Pipeline in the United States. Brent crude futures for July delivery rose by 4 cents to settle at the level of $68.32 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures …

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• 11 May 2021 4:19 am

  Gold Maintains Gains to Fresh Three-Month Highs

  

  Gold prices rose on Monday for the fourth consecutive session, supported by the decline of the U.S. Dollar (USD) and fears about a potential rise in inflation rates, which led to higher demand for safe havens. The yellow metal futures for June delivery gained $6.30, or 0.3%, to finish at …

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• 11 May 2021 12:20 am

  Bitcoin Extends Losses amid Selling Pressures

  

  Bitcoin maintained a negative trajectory on Monday, moving within a downward trend due to selling pressures. The world’s largest cryptocurrency in terms of market capitalization fell by more than 5% over the past 24 hours, extending its losses over the past seven days to about 2.5%. Bitcoin is currently trading …

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• 10 May 2021 11:59 pm

  USD Above 10-Week Lows as Treasury Yields Rise

  

  The U.S. Dollar (USD) is showing a mostly negative performance on Monday, amid concerns among investors about the prospects of a rise in inflation resulting from the economic recovery from the coronavirus pandemic. The Dollar Index (DXY) that measures the greenback against a basket of six major international currencies, is …

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• 10 May 2021 11:15 pm

  European Stocks Inch Towards Another Record High

  

  European stocks finished Monday on a mixed note, opening the week with a fluctuating performance, as the markets witnessed hopes for recovery, as well as fears regarding a rise in inflation rates. The STOXX Europe 600 index closed higher by 0.11% at a new all-time record of 445.40 points. In …

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