Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 23 June 2021 4:07 am

  Fed’s Powell: No Pre-Emptive Rate Hikes to Combat Inflation

  

  The Chairman of the U.S. Federal Reserve, Jerome Powell, told lawmakers on Tuesday that the economy has achieved progress on its way to recovery from the Coronavirus crisis. The most anticipated message was about the Fed’s reaction to the surge in inflation, which as expected with Powell indicating to the …

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• 23 June 2021 1:40 am

  USD Eases Following Powell’s Testimony

  

  The U.S. Dollar (USD) showed a mostly negative performance on Tuesday, turning to losses against major peers after recent remarks by the Chairman of the Federal Reserve Jerome Powell. The Dollar Index (DXY), which measures the greenback against a basket of six international currencies, declined by about 0.18% to 91.73, …

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• 23 June 2021 12:46 am

  U.S. Oil Inventory Down 7.2 M Barrels – API

  

  Crude oil inventories in the United States fell by 7.2 million barrels last week, according to estimates by the American Petroleum Institute (API). Meanwhile, the stockpiles of gasoline and distillates rose by 959,000 and 992,000 barrels, respectively. Crude stocks at the storage hub in Cushing, Oklahoma, decreased by about 2.6 …

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• 23 June 2021 12:01 am

  Nasdaq Closes at New Record High

  

  The New York Stock Exchange (NYSE) closed Tuesday with modest gains, while the Nasdaq index finished at a new record-high closing level. The Dow Jones Industrial Average gained 68.61 points, or 0.20%, to close at 33,945.58 points. The S&P 500 rose by 21.65 points, or 0.51%, and finished at 4,246.44. …

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• 22 June 2021 11:57 pm

  Oil Retreats from Year Highs to Close Lower

  

  Oil prices declined on Tuesday, after rising for two consecutive days, amid expectations that the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies might be raising production starting next August. Media reports pointed to discussions about more reductions into the current output cuts to raise production levels. …

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• 22 June 2021 11:46 pm

  Gold Logs Another Loss to Close Below $1,800

  

  Gold prices declined on Tuesday for the sixth time in eight sessions, as the U.S. Dollar (USD) rose against major currencies. Gold futures for August delivery finished lower by $5.50, or 0.31%, at $1,776.30 per ounce. The yellow metal’s most active contract has extended its losses month-to-date to 6.63%. Gold …

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• 22 June 2021 11:25 pm

  European Stocks Close Higher

  

  European stocks closed higher on Tuesday, with a rebound in commodity prices providing support for the mining and energy sectors. The pan-European STOXX 600 Index gained 0.26% and closed at 456.42 points. Similarly, the blue-chip STOXX 50 index finished higher by 0.26% at 4,123.13. Meanwhile, the UK’s FTSE100 ended the …

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• 22 June 2021 11:09 pm

  Bitcoin Rebounds Near $33,000 Level

  

  Bitcoin is showing recovery from a string of losses, which brought the world’s largest cryptocurrency below $30,000 for the first time in five months. However, the digital currency managed to flip the decline to rise by a little over 1% and reach a level above $33,100. Now, the cryptocurrency is …

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• 22 June 2021 10:54 pm

  Eurozone Consumer Confidence Improves in June

  

  Eurozone consumer confidence improved by 1.8 points in June compared with its previous monthly reading, according to data the European Commission released on Tuesday. A flash estimate of the consumer sentiment in the European bloc recorded -3.3 this month from -5.1 in May. On the broader level, consumer confidence across …

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• 22 June 2021 10:48 pm

  Richmond Fed Manufacturing Index Continues to Expand

  

  Manufacturing activity in the U.S. continued to show signs of improvement this month, as shown by survey data by the Federal Reserve Bank of Richmond on Tuesday. The Fifth District Survey of Manufacturing Activity’s Composite Index rose from 18 in May to 22 in June, maintaining a positive performance since …

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• 22 June 2021 10:42 pm

  Fed’s Powell Tells Congress Inflation Will Ease Over Time

  

  U.S. Federal Reserve Chairman Jerome Powell told lawmakers on Tuesday that the economy has notably improved amid recovery from the Coronavirus pandemic and that inflation will ease over time following the recent surge. Testifying for the second consecutive day before the House of Representatives Select Subcommittee on the Coronavirus Crisis, …

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• 22 June 2021 6:20 pm

  U.S. Home Sales Drop for Fourth Month in Row

  

  Home sales in the United States continued to decline for the fourth consecutive month during May, data showed on Tuesday. Existing home sales fell by 0.9% last month to a seasonally adjusted annual rate of 5.80 million units, according to the National Association of Realtors. Resale activity soared by 44.6% …

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• 22 June 2021 5:57 pm

  Switzerland: Current Account Surplus Widens in The First Quarter of 2021

  

  The Swiss National Bank announced today, Tuesday, that Switzerland achieved a current account surplus of 16 billion Swiss francs (17.40 billion dollars) in the first quarter of 2021, 6 billion francs more than it was in the previous quarter. The weakness of the Swiss franc against the dollar since the …

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