Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 22 May 2021 1:14 am

  Bitcoin Extends Losses After China’s Crackdown

  

  Bitcoin extended its losses on Friday, after China announced plans to crackdown on the digital currency. The Chinese Vice Premier, Liu He, announced plans by the government to crack down on Bitcoin’s mining and trading activities, as the Chinese Financial Stability and Development Committee announced earlier today that measurements against …

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• 22 May 2021 12:57 am

  Oil Finishes the Week in Losses

  

  Oil prices rose on Friday, amid possible supply disruptions in North American due to a subtropical storm forming near the Gulf of Mexico. However, crude futures failed to recover all of its weekly losses. Brent crude futures for July delivery gained $1.33, or 2%, to settle at $66.44 per barrel. …

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• 21 May 2021 11:17 pm

  Gold Maintains Gains for Third Straight Week

  

  Gold prices declined on Friday, after rising for six consecutive sessions, as risk sentiment improved and stock markets rebounded from recent declines, which led to reduced demand for safe haven assets. A rising U.S. Dollar (USD) also weighed down on gold’s futures. In addition, some profit taking activity probably led …

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• 21 May 2021 10:07 pm

  European Stocks Recover and Finish the Week in Gains

  

  European stocks closed higher on Friday, supported by positive economic data that took the attention away from inflation fears. Economic indicators showed an improvement in France’s business activity and the German services sector, with readings exceeding expectations in May. The STOXX Europe 600 index finished higher by 0.61%, with the …

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• 21 May 2021 9:03 pm

  Dollar Rises on the Back of Positive Economic Data

  

  The U.S. Dollar (USD) is rising on Friday, supported by positive economic data that showed an expansion in the output of the services and industrial sectors, registering fresh daily highs, after hitting its lowest level in roughly four months. However, the greenback is yet to recover all of its weekly …

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• 21 May 2021 8:03 pm

  U.S. Home Sales Decline in April for Third Straight Month

  

  Home sales in the United States continued to decline during April for the third consecutive month, data showed on Friday. According to the National Association of Realtors (NAR) existing home sales fell by 2.7% to a seasonally adjusted annual rate of 5.85 million units last month. Meanwhile, home sales rose …

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• 21 May 2021 7:20 pm

  U.S. Factory, Services Activities Expand in May

  

  Factory activity in the United States expanded this month, supported by a robust local demand, data showed on Friday. The flash U.S. manufacturing purchasing managers’ index (PMI) rose to 61.5 in the first half of May from 60.5 in April, according to IHS Markit. This marked the highest reading for …

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• 21 May 2021 5:44 am

  Federal Reserve Studying Plans for Digital Currency

  

  The United States Federal Reserve is showing more signs that it is moving forward with efforts to establish its own official digital currency. The Fed announced on Thursday that it plans to publish a research paper in the summer that explores the prospects of issuing a digital currency, CNBC reported. …

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• 21 May 2021 4:35 am

  Wall Street Rises for First Time in Four Sessions

  

  The New York Stock Exchange (NYSE) closed higher on Thursday, following three consecutive declines, as risk appetite improved with Wall Street investors reversing the recent selling pressures. Inflation fears seem to be fading by the recently released minutes from the Federal Reserve’s latest meeting, which showed an expectation of discussing …

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• 21 May 2021 3:14 am

  Kaplan: Fed Might Need to Change Policy Sooner Than Later

  

  The United States economy is showing some recovery signs and the Federal Reserve might sooner rather than later start considering reducing its monetary support and easing policies, President of the Federal Reserve Bank of Dallas Robert Kaplan said on Thursday. “Maybe taking the foot gently off the accelerator would be …

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• 21 May 2021 1:07 am

  Oil Maintains Losses For Third Straight Day

  

  Oil prices declined on Thursday for the third consecutive session, with expectations that progress in talks between the United States and Iran regarding the nuclear deal might lead to lifting sanctions, thus increasing market supplies. Brent crude futures for July delivery fell by $1.55, or 2.3%, to finish at $65.11 …

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• 21 May 2021 12:30 am

  Biden to Propose New Budget Next Week

  

  The President of the United States, Joe Biden, is set to reveal his first detailed budget proposal on May 28, the White House announced on Wednesday. The new budget will be for the upcoming fiscal year starting next October. Biden took office last January, making this the first fiscal year …

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• 20 May 2021 11:47 pm

  Dollar Erases All Gains Driven by Fed’s Meeting Minutes

  

  The U.S. Dollar (USD) returned to the downward trend on Thursday, declining against most major currencies and erasing its short-lived gains following the release of the Federal Reserve April’s meeting minutes yesterday. Markets were relatively taken by surprise when the minutes showed that although members of the Federal Open Market …

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