Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 24 June 2021 9:24 pm

  Gold Closes Lower Following U.S. GDP Data

  

  Gold prices declined on Thursday, as the U.S. Dollar (USD) rebounded against major currencies, following the release of positive economic data. Positive data also led to improved expectations for economic recovery, reducing demand for safe haven investments. Gold futures for August delivery fell by $6.70, or 0.38%, to finish at …

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• 24 June 2021 8:18 pm

  U.S. Natural Gas Supplies Rise in Week

  

  Working natural gas in storage in the United States rose by 55 billion cubic feet (bcf) last week, according to estimates by the U.S. Energy Information Administration (EIA). The EIA data showed on Thursday that natural gas supplies reached 2.482 trillion cubic feet in the week ended June 18, down …

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• 24 June 2021 7:29 pm

  Fed’s Barkin Believes Inflation Surge is Temporary

  

  Inflationary pressures in the United States are temporary but monetary policymakers must be careful in closely monitoring consumer prices, the President of the Federal Reserve Bank of Richmond, Thomas Barkin, said on Thursday. “I do believe we are in the middle of a temporary adjustment cycle during which workers will …

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• 24 June 2021 6:59 pm

  U.S. Mortgage Rates Rise to Highest Level Since April

  

  Mortgage rates in the United States surged this week amid expectations that the Federal Reserve could raise interest rates sooner than previously expected, according to data by Freddie Mac. The fixed-rate 30-year mortgage registered an average rate of 3.02% for the week ended June 24. This marked an increase of …

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• 24 June 2021 6:03 pm

  U.S: Durable Goods Orders Increase by 2.3% in May

  

  Durable Goods Orders in the United States rose by 2.3%, or $5.7 billion, to $253.5 billion in May, the data published by the US Census Bureau revealed on Thursday. This reading came in weaker than the market expectation for an increase of 2.7% and followed a 0.8% decline recorded in …

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• 24 June 2021 5:20 pm

  US: Weekly Initial Jobless Claims Edge Lower to 411K

  

  There were 411,000 initial claims for unemployment benefits in the US during the week ending June 19, the data published by the US Department of Labor (DOL) showed on Thursday. This reading came in weaker than the market expectation of 380,000 and followed the previous print of 418,000.

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• 24 June 2021 5:16 pm

  U.S: Real GDP Grows by 6.4% in Q1

  

  The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 6.4% in the first quarter, the US Bureau of Economic Analysis reported on Thursday. This reading matched the previous estimate and the market consensus.

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• 24 June 2021 4:27 pm

  China: Monthly PPI to Hit 10%, Adding Pressure to Consumption

  

  China Banking and Insurance Regulator Official said on Thursday that they “expect China’s monthly PPI to hit 10%, adding pressure to consumption.” The PPI, a benchmark gauge of a country’s industrial profitability, rose 9% from a year earlier in May, the fastest pace since September 2008 as China’s economy recovers.

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• 24 June 2021 3:58 pm

  Oil is Falling But Hovering Near Its Highest Level in 3 Years Thanks to Signs of Recovery

  

  Oil prices fell slightly on Thursday, June 24, but are still close to their highest levels in nearly three years, supported by a draw in US inventories and an acceleration in German economic activity. Prices were also supported by doubts about the future of the 2015 Iran nuclear deal, which …

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• 24 June 2021 3:39 pm

  Fed’s Mester: Not Yet Thinking About Adjusting Monetary Policy

  

  Cleveland Federal Reserve President Loretta Mester said on Tuesday that she is not yet thinking about adjusting monetary policy and added that she’d like to see further progress on employment, as reported by Reuters. “When the time comes, the Fed should start with the tapering model used after last recession and …

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• 24 June 2021 3:01 pm

  Bank of England Leaves Policy Settings Unchanged as Expected

  

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

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• 24 June 2021 2:57 pm

  Moody’s: China’s GDP Growth Will Boost Companies’ Earnings

  

  In its latest review report on China, Moody’s Investors Service noted that “China’s economic rebound will buoy demand for goods and services, lifting companies’ revenue over the next 12-18 months.” “Rising demand for goods and services in China, driven by GDP growth, will boost the earnings of most rated companies …

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• 24 June 2021 2:08 pm

  Bitcoin Holds up And Dogecoin Grabs Attention

  

  Despite the relative decline that Bitcoin, the largest digital currency, is witnessing in these moments of trading today, Thursday, speculators for a return to the rise above the $30,000 levels are steadfast, and have so far succeeded in supporting prices. Despite the panic that dominated the markets due to the …

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