Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 15 July 2021 8:10 pm

  U.S. Senate to Discuss Infrastructure Bill Next Week

  

  The United States Senate could be voting on the bipartisan infrastructure bill next Wednesday, Senate said Majority leader Chuck Schumer said on Thursday. The $1.2 trillion plan includes spending on roads, bridges, and other infrastructure projects. “All parties involved in the bipartisan infrastructure bill talks must now finalize their agreement …

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• 15 July 2021 7:44 pm

  U.S. Import Costs Increase in June Contributing to Rising Inflation

  

  The United States import price index surged by 1% in June, official data showed on Thursday. This marked the seventh consecutive monthly increase for import prices. Despite coming in line with market expectations, the rise in the cost of imported goods showed another element contributing to the surging inflationary pressures. …

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• 15 July 2021 6:10 pm

  US: NY Empire State Manufacturing Index Improves to 43 in July

  

  The Index of the NY Fed’s Empire State Manufacturing Survey improved sharply to 43 from 17.4 in June. This reading fell short of the market expectation of 18 by a wide margin.

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• 15 July 2021 5:26 pm

  U.S: Industrial Production Expands by 0.4% in June

  

  Industrial Production in the United States expanded by 0.84 on a monthly basis in June, the US Federal Reserve reported on Thursday. This reading followed May’s growth of 0.7% and came in slightly weaker than the market expectation for an increase of 0.7%.

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• 15 July 2021 4:55 pm

  US: Philadelphia Fed Manufacturing Index Drops to 21.9 in July

  

  The Federal Reserve Bank of Philadelphia reported on Thursday that the headline Manufacturing Activity Index of the Manufacturing Business Outlook Survey dropped to 21.9 in July from 30.7 in June. This reading came in weaker than the market expectation of 28.

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• 15 July 2021 4:32 pm

  US: Weekly Initial Jobless Claims Drop to 360K

  

  There were 360,000 initial claims for unemployment benefits in the US during the week ending July 10, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 386,000 (revised from 373,000) and came in line with the market expectation.

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• 15 July 2021 4:13 pm

  OPEC Monthly Report: World Oil Demand to Rise by 3.28M BPD in 2022

  

  In its latest monthly report, OPEC said that it expects the world oil demand to rise by 3.28 million barrels per day to 99.6 million barrels per day in 2022, per Reuters. “World oil demand in 2022 to reach comparable pre-pandemic levels.”“OPEC sticks to forecast 2021 world oil demand will …

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• 15 July 2021 3:29 pm

  Gold Hits One-Month High After Fed Chief Calms Taper Fears

  

  Gold prices extended gains to hit a month high on Thursday, July 15th, after US Federal Reserve Chairman Jerome Powell calmed concerns about an early easing of monetary support, sending the dollar and US Treasury yields down. Spot gold was up 0.3% at $1,831.70 an ounce, after hitting its highest …

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• 15 July 2021 2:27 pm

  Goldman Sachs: Saudi-UAE Deal to be a Bullish Catalyst For Oil

  

  Goldman Sachs expected that an agreement between Saudi Arabia and the UAE regarding oil supplies would be a catalyst for a rise in prices in the coming months, as the American investment bank kept its Brent price forecast in the summer at $80 a barrel. An OPEC + source told …

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• 15 July 2021 1:37 pm

  The Euro Recovers From The Low of 3 And a Half Months After Fed

  

  The euro moved away from its lowest level in more than three and a half months against the dollar on Thursday, July 15th after cautious comments from the US Federal Reserve chief, which limited the recent rise in Treasury yields. US Federal Reserve Chairman Jerome Powell said in testimony before …

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• 15 July 2021 1:10 pm

  US Yields Maintain Negative Levels

  

  The yield on the benchmark 10-year Treasury remained around 1.3% in mid-July, still at the weakest level since February, down from 1.45% hit earlier during the month as investors digest the Fed’s cautious comments. Fed Chair Powell said further significant progress toward full employment and price stability remains elusive. He …

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• 15 July 2021 3:37 am

  Dollar Declines Following Powell’s Comments

  

  A dovish tone by the Federal Reserve Chairman Jerome Powell, in his testimony before Congress, pushed the U.S. Dollar (USD) lower on Wednesday. Powell acknowledged progress in an economic recovery but said the economy remains far from achieving the substantial further progress needed to begin tapering asset purchases and then …

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• 15 July 2021 2:18 am

  Wall Street Closes Mostly Higher After Powell’s Testimony

  

  The main indices of the New York Stock Exchange (NYSE) finished mostly higher on Wednesday, with Wall Street investors digesting the Federal Reserve Chairman Jerome Powell’s testimony before lawmakers, in which he vowed patience and no rush in raising interest rates in response to the rising inflation. Powell expects inflationary …

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