Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 4 June 2021 5:51 am

  Fed’s Decision on Corporate Bonds Signals Beginning of Policy Tweaks

  

  The U.S. Federal Reserve on Wednesday announced that it will begin reducing its purchases of corporate assets, as the economy recovers from the coronavirus pandemic. The Fed believes that such support measurement was needed in the midst of the recession caused by the pandemic, noting that now is time to …

  Read More »
• 4 June 2021 5:06 am

  NYSE Closes Lower Ahead of Jobs Report

  

  The New York Stock Exchange (NYSE) finished lower on Thursday, with tech stocks leading the decline. In addition, a rise in Treasury bond yields to their highest level in more than two weeks weighed on the stock market. The Dow Jones Industrial Average slipped by 23.34 points, or 0.07%, to …

  Read More »
• 4 June 2021 4:30 am

  Oil Closes Lower on U.S. Gasoline Inventory Buildup

  

  Oil prices finished marginally lower on Thursday, despite the huge drop in U.S. crude inventories, as a surprise buildup in gasoline and distillates stockpiles led to some concerns about the pace of demand recovery. However, oil futures remain mostly elevated supported by the market stability assured by the recent decision …

  Read More »
• 4 June 2021 4:06 am

  Gold Drops and Loses $1,900 Key Support Level

  

  Gold prices fell on Thursday to close below the $1,900 level, losing an important support level and finishing at the lowest level in about three weeks. The rise of the U.S. Dollar (USD) against major peers and the elevated risk sentiment among investors, both on the back of the positive …

  Read More »
• 4 June 2021 2:00 am

  Dollar Near Three-Week High on Positive Data

  

  The U.S. Dollar (USD) rose on Thursday to its highest level in about three weeks, as positive economic data showed a drop in jobless claims, the biggest surge in private payrolls in about a year, and an improvement in the services and manufacturing sectors. Moreover, markets are anticipating tomorrow’s release …

  Read More »
• 3 June 2021 11:30 pm

  European Stocks Close Mostly Lower Despite Positive Data

  

  European stocks showed a mixed performance on Thursday, as positive economic data boosted investors’ sentiment amid anticipation for the May jobs report in the U.S. The STOXX Europe 600 index lost 0.12% to close at 450.79 points, after finishing at a new record high on Wednesday. Meanwhile, the basic resources …

  Read More »
• 3 June 2021 10:03 pm

  EIA Reports Weekly Rise in U.S. Natural Gas Supplies

  

  Natural gas inventories in the United States increased by 98 billion cubic feet (bcf) last week, according to estimates by the U.S. Energy Information Administration (EIA). The EIA weekly report showed on Thursday that natural gas supplies reached 2.313 trillion cubic feet, decreasing by 386 bcf compared with the same …

  Read More »
• 3 June 2021 8:51 pm

  U.S. Oil Inventories Drop More Than Expected

  

  Crude oil inventories in the United States dropped more than expected last week, according to the latest official data released on Thursday. Inventories plunged by 5.08 million barrels, more than double the decrease of 2.4 million barrels that was expected by market analysts, the Energy Information Administration (EIA) report for …

  Read More »
• 3 June 2021 7:35 pm

  Data Shows Strong Growth in U.S. Services Sector

  

  The U.S. services sector’s economic activity expanded in May, maintaining growth for the 12th month in a row, data showed on Thursday. The Institute for Supply Management(ISM) Services Purchasing Managers Index (PMI) reached a new all-time record high in May, registering 64%, after rising by 1.3% compared with its level …

  Read More »
• 3 June 2021 5:53 pm

  The Fed Will Start Winding Down a Program That Saved The US Economy

  

  The Federal Reserve said on Wednesday it will begin reducing its holdings of corporate bonds it bought last year through an emergency lending program it launched to calm credit markets at the peak of the COVID-19 pandemic. The US Central Bank indicated that the sale of its holdings of corporate …

  Read More »
• 3 June 2021 5:38 pm

  US: Weekly Initial Jobless Claims Decline to 385K

  

  There were 385,000 initial claims for unemployment benefits in the US during the week ending May 29, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading came in better than the market expectation of 395,000 and followed the previous print of 405,000 (revised from …

  Read More »
• 3 June 2021 5:09 pm

  US: Challenger Job Cuts Rise to 24,586 in May

  

  Planned job cuts in the US-based employers rose to 24,586 in May from 22,913 in April, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday.

  Read More »
• 3 June 2021 4:35 pm

  The Dollar Rises Before The Release of US Data

  

  The dollar rose today as traders awaited a batch of US economic data that may determine the direction at the central bank meetings later this month. Investors are betting that the dollar will fall as the world recovers from the Covid-19 pandemic, but they have recently become concerned about whether …

  Read More »