Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 7 May 2021 12:20 pm

  Gold Heading For Its Best Weekly Performance in 6 Months

  

  Gold prices rose on Friday, May 7, to a two-and-a-half-month high, and is heading to achieve the best weekly performance in 6 months, supported by the decline of the dollar and a decline in US Treasury bond yields, while investors are cautiously awaiting the US nonfarm payrolls report due to …

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• 7 May 2021 5:04 am

  Fed Worried about Bond Market Sell-Off

  

  A recent report by the United States Federal Reserve suggested that American monetary policymakers remain concerned about the bond sell off last February, which led to a surge in Treasury yields, Reuters reported. Developments highlighted the importance of continued focus on Treasury market resilience, according to the Fed’s semi-annual Financial …

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• 7 May 2021 4:13 am

  Fed’s Bostic Expects Strong Jobs Data

  

  The President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Thursday that it is likely that last month has probably witnessed a strong surge in new job opportunities that might have exceeded a million. April’s reading of nonfarm payrolls and the unemployment rate are due to be …

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• 7 May 2021 4:01 am

  Wall Street Closes Higher Following Jobless Claims Drop

  

  The main indices of the New York Stock Exchange (NYSE) finished higher on Thursday, despite earlier fluctuations, as Wall Street investors anticipate more positive economic indicators. Earlier today, official data showed a decline in the new claims for unemployment benefits to their lowest level since the beginning of the coronavirus …

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• 6 May 2021 7:42 pm

  U.S. Natural Gas Storage Rises in Week

  

  Natural gas inventories in the United States increased by 60 billion cubic feet (bcf) last week, according to data by the U.S. Energy Information Administration (EIA). The EIA weekly report showed on Thursday that natural gas supplies reached 1.7958 trillion cubic feet, decreasing by 345 bcf compared with the same …

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• 6 May 2021 6:32 pm

  BoE May Policy Meeting Highlights

  

  The Bank of England (BoE) decided to maintain the record low-interest rates during its monetary policy meeting on Thursday. The benchmark interest rate was maintained at its all-time low level of 0.1%. BoE also revised upwards its expectations for economic growth in the United Kingdom (UK) this year, as the …

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• 6 May 2021 5:28 pm

  U.S. Non-Farm Productivity Rises in Q1

  

  Worker productivity in the United States rose during the first quarter of the year, data showed on Thursday. Nonfarm productivity increased by 5.4% on a yearly basis during Q1 of 2021, according to the U.S. Department of Labor. The reading for Q4 of last year was revised upwards to show …

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• 6 May 2021 4:45 pm

  U.S. Jobless Claims Hits Lowest Level since Pandemic

  

  Initial jobless claims declined last week to reach a seasonally adjusted 498,000 for, data by the U.S. Department of Labor showed on Thursday. The decline in the claims for state unemployment benefits during the week ended May 1 decreased compared to its level at 590,000 in the previous week, reaching …

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• 6 May 2021 3:55 pm

  The Turkish Lira Falls Slightly

  

  The Turkish lira weakened slightly Thursday, May 6, ahead of the central bank meeting to set the interest rate, as it is expected to keep the main interest rate unchanged in the face of rising inflation. The lira was at 8.3350 against the dollar, down slightly from the settlement rate …

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• 6 May 2021 3:06 pm

  German Industrial Orders Rise on Strong Domestic Demand

  

  German industrial orders rose for the third consecutive month in March, supported by domestic demand, data showed, in a new indication that manufacturers in Europe’s largest economy are likely to cushion the impact of lower household spending linked to the lockdown measures. The data published by the Federal Statistics Office, …

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• 6 May 2021 3:03 pm

  BoE Leaves Rate and QE Unchanged

  

  The Bank of England’s (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its May policy meeting and kept the Asset Purchase Facility steady at £895 billion as widely expected.

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• 6 May 2021 3:02 pm

  Decline in Oil Prices Despite a Significant Decrease in US Crude Inventories

  

  Oil prices retreated after they rose earlier Thursday, May 6, under pressure from increased cases of Covid-19 in India and elsewhere, despite a drop that greatly exceeded expectations for US crude stockpiles. Brent crude futures fell 28 cents, equivalent to 0.4%, to $ 68.68 a barrel, and US West Texas …

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• 6 May 2021 2:22 pm

  Eurozone Retail Sales Exceeded Expectations in March

  

  Data showed retail sales in the eurozone rose more than expected in March, indicating pent-up demand among consumers as the pandemic eases. The European Union statistics office Eurostat said that retail sales in the 19 countries that use the euro jumped 2.7% month over month in March and 12% year …

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