Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 26 June 2021 3:10 am

  Wall Street Closes Mostly Higher and Registers Weekly Gains

  

  The New York Stock Exchange (NYSE) closed mostly higher on Friday, with Wall Street investors’ risk sentiment improving on the back of positive economic data. The Dow Jones Industrial Average gained 237.02, or 0.69%, to close at 34,433.84 points. The S&P 500 index finished at a new record high of …

  Read More »
• 26 June 2021 2:50 am

  CAD/USD Maintains Gains Below Eight-Day High

  

  The Canadian Dollar (CAD) rose against its U.S. counterpart on Friday, supported by the U.S. Dollar’s (USD) decline across the board. The USD/CAD pair declined by 0.20% to reach 1.2299. In the early trading hours of the trading session, around 10:30 AM Eastern Time, the pair was trading at 1.2272, …

  Read More »
• 26 June 2021 2:36 am

  Oil Logs Fifth Consecutive Weekly Gains

  

  Oil prices rose on Friday, extending gains for the fifth consecutive week due to expectations for demand recovery. Brent crude futures for August delivery rose by 62 cents, or 0.82%, its biggest rise since June 21, to close at $76.18 per barrel, rising by $2.67, or 3.63% for the week. …

  Read More »
• 26 June 2021 1:29 am

  Fed’s Rosengren Remarks on Friday

  

  President of the Federal Reserve Bank of Boston, Eric Rosengren, expects the Fed’s substantial further progress towards achieving targets will likely be met prior to the beginning of next year, prompting reducing asset purchases. Accordingly, the Fed’s conditions for raising interest rates could be met around the end of 2022, …

  Read More »
• 26 June 2021 1:17 am

  Fed’s Kashkari Foresees Lower Inflationary Pressures

  

  President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, on Friday expected inflationary pressures to ease and the return of 7-10 million Americans to the labor market. Kashkari was speaking to a virtual even in the Minneapolis Council, saying that the increase in consumer prices is happening as the …

  Read More »
• 26 June 2021 12:15 am

  U.S. Treasury Yields Record Weekly Rise

  

  U.S. Treasury bond yields rose on Friday and finished the week higher, after data showed a rise in inflation. The benchmark 10-year Treasury note yield rose by up 8.6 basis points over the course of the weekm and recorded its biggest rise since March 19. The 30-year Treasury bond yield …

  Read More »
• 25 June 2021 10:39 pm

  Gold Finishes Higher to Snap Three-Week Losing Streak

  

  Gold prices rose modestly on Friday, as the U.S. Dollar (USD) declined across the board, finishing the week higher for the first time in four weeks. The rise in U.S. inflation provided support for gold amid mixed expectations for interest rates. Gold futures for August delivery gained by $1, or …

  Read More »
• 25 June 2021 10:09 pm

  European Stocks Record Weekly Gains

  

  European stocks closed higher on Friday, for the second consecutive session, on the back of an improved investors’ sentiment following a slew of positive economic data. The STOXX Europe 600 index rose by 0.13%, its highest rise since May, to finish at 457.63 points, extending its weekly gains to 5.58 …

  Read More »
• 25 June 2021 9:40 pm

  U.S. Rig Count Stabilizes This Week

  

  The number of rigs drilling for crude oil and natural gas in the United States remained unchanged this week, data showed on Friday. The rig count stood at 470 for the week ending June 25, according to the weekly report by Baker Hughes. The number of oil rigs decreased by …

  Read More »
• 25 June 2021 8:26 pm

  AUD/USD Maintains Some Gains Below 0.76

  

  The Australian Dollar (AUD) rose on Friday against its U.S. counterpart, as the U.S. Dollar (USD) continues to fluctuate with markets yet to clearly understand the future path of inflation and the the subsequent changes in interest rates and the broader monetary policy. The AUD/USD pair rose in earlier trades …

  Read More »
• 25 June 2021 7:32 pm

  Michigan Consumer Sentiment Index Eases in June

  

  U.S. consumer confidence declined in late June, according to data by the University of Michigan released on Friday. The Index of Consumer Sentiment eased to 85.5 from an initial reading of 86.4 earlier this month. Compared with its reading in May at 82.9, consumer sentiment maintained an improvement.               The current …

  Read More »
• 25 June 2021 4:38 pm

  US Annual Core PCE Inflation Rises to 3.4% in May

  

  Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, was 0.4% in May, the US Bureau of Economic Analysis reported on Friday. On a yearly basis, the PCE Price Index edged higher to 3.9% from 3.6%, compared to analysts’ estimate of 4%. Stock market futures …

  Read More »
• 25 June 2021 4:24 pm

  ECB: Eurozone Will Recover Faster Than Expected, But Support is Still Needed

  

  European Central Bank President Christine Lagarde told European Union leaders that the Eurozone is recovering faster than previously expected, but still needs continued fiscal and monetary support so that the coronavirus pandemic does not leave a permanent scar. “Continued support of fiscal and monetary policy will be needed to avoid …

  Read More »