Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 5 May 2021 1:40 am

  Oil Closes Higher on Positive Expectations

  

  Oil prices rose on Tuesday for the second consecutive session, supported by positive expectations about easing preventive measures against the Coronavirus pandemic. Brent crude futures for July delivery gained $1.32, or 2%, to close at $68.88 per barrel. Meanwhile, the U.S. West Texas Intermediate (WTI) June futures increased by $1.20, …

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• 5 May 2021 1:04 am

  Gold Finishes Lower as USD Rises

  

  Gold closed lower on Tuesday, after remarks by the U.S. Treasury Secretary, Janet Yellen, pointed to a possible interest rate hike to prevent the economy from overheating. Recent remarks by Fed officials indicated that despite recovery signs the economy is yet to achieve the central bank’s employment and price stability …

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• 5 May 2021 12:54 am

  Yellen: Interest Rates Might Need a Raise

  The United States Secretary of the Treasury, Janet Yellen, suggested on Tuesday that raising interest rates might be necessary in order to avoid the economy overheating amid increased government stimulus spending and investment plans. “It may be that interest rates will have to rise somewhat to make sure that our …

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• 4 May 2021 11:18 pm

  European Stocks Close Lower as Tech Sector Drops

  

  European stocks dropped on Tuesday, mainly due to large losses by the tech sector that echoed the decline of tech stocks in Wall Street across the Atlantic. The pan-European STOXX 600 index fell by 1.5%, with the technology sector losing about 3.8% in its worst daily performance since October 2020. …

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• 4 May 2021 7:19 pm

  U.S. Factory Orders Grow in March

  

  New factory orders in the United States increased in March, supported by an improving local demand. In addition, business spending on equipment exceeded market expectations, data showed on Tuesday. Factory orders rose by 1.1% in March, following a 0.5% decline in February, according to the U.S. Department of Commerce. Unfilled …

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• 4 May 2021 7:12 pm

  Canada’s Building Permits Rise in March

  

  Building permits in Canada increased in March compared with the month before, data showed on Tuesday. In March, the total value of Canadian building permits surged by 5.7% on a monthly basis to reach a seasonally adjusted level of CAD 10.9 billion, according to data by Statistics Canada. February’s reading …

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• 4 May 2021 5:07 pm

  Canada’s Trade Balance Turns to Deficit in March

  

  Canada’s imports increased by 5.5% in March, while exports leveled up by 0.3%, data by Statistics Canada showed on Tuesday. Accordingly, the Canadian international merchandise trade balance returned to a deficit position, following two consecutive monthly trade surpluses. Canada registered a trade deficit of CAD 1.1 billion in March, compared …

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• 4 May 2021 4:21 pm

  UK on the Way to Lift the Social Distancing Rule Next Month

  

  The UK is on the way to dispense with the covid-19 social distancing rule before the end of next month, which requires people to stay at least one meter away, according to Prime Minister Boris Johnson. The British government is proceeding according to a roadmap it has set for itself …

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• 4 May 2021 3:20 pm

  Gold Retreating From a Two-Month High And the Dollar’s Strength Limits its Appeal

  

  Gold prices fell from their highest level in more than two months today, Tuesday, as the dollar’s recovery limited the metal’s appeal as a safe haven, while investors speculate that the US economic recovery at a faster than expected pace may lead to a hike in interest rates. And gold …

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• 4 May 2021 2:32 pm

  Car Sales in Turkey Increased 132.4% Year-on-Year in April

  

  The Turkish auto distributors association said on Tuesday that sales of passenger cars and light commercial vehicles in Turkey jumped 132.4% year on year in April to 61,488 units. The union added that sales increased 72.4% annually from January to April.

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• 4 May 2021 2:15 pm

  Currencies Overview: Dollar Rising as Economic Data And Its Impact on Interest Rates Are Anticipated

  

  The dollar has turned higher in Asian trading, halting a month-long downturn, as investors are working to see if the major US economic recovery may push interest rates higher, as they await upcoming economic data and policy speeches for indicators. The US currency rose 0.2% against the yen, euro and …

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• 4 May 2021 1:15 pm

  Saudi Aramco Beats Q1 Profit Forecast

  

  Saudi Aramco announced a 30% increase in net profits to 81.4 billion riyals (about $21.7 billion) in the first quarter of 2021, compared to the same quarter of the previous year, and analysts had expected a net profit of 19.48 billion dollars. In a statement on the Saudi Stock Exchange …

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• 4 May 2021 12:45 pm

  Oil Declining But The Optimism of Demand Growth in America and Europe Keeps Prices Support

  

  Oil prices plunged today, erasing gains made earlier in the session after more US states eased lockdown measures and the European Union sought to attract travelers, which helped offset concerns about fuel demand in India as the pace of Covid-19 infections accelerated. Prior to the opening of European indices, Brent …

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