Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 23 February 2021 2:17 am

  USD Maintains Downward Trend

  

  The U.S. Dollar (USD) declined on Monday despite the rise in Treasury bond yields, amid expectations for economic recovery from the Coronavirus pandemic. Expectations for a surge in inflation due to the easing policies of the Federal Reserve and the expected increased stimulus spending by the Biden administration are contributing …

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• 23 February 2021 1:24 am

  Fed’s Kaplan Expects U.S. Economy to Grow by 5% or More

  

  President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Monday that he expects the United States economy to register a growth rate of 5% in 2021, Reuters reported. Kaplan noted that he might be underestimating the recovery of the American economy from the Coronavirus crisis. “If we …

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• 23 February 2021 12:58 am

  Oil Prices Score Strong Gains as Winter Storm Impact Continues

  

  Oil prices rose on Monday, reaching their highest level in about a year, with anticipation for the return of crude production and refining capacities in Texas, the United States, following the recent winter storms. Production recovery is reportedly expected to take a time longer than previously estimated. Brent crude futures …

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• 23 February 2021 12:45 am

  Gold Returns to Gains and Restores $1,800 Level

  

  Gold prices rose on Monday, opening the week with a positive performance and restoring the $1,800 key price level, amid expectations for a rise in inflation. In addition, the decline by the U.S. Dollar (USD) helped gold returns to gains, scoring its biggest daily rise since early January. The yellow …

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• 22 February 2021 10:00 pm

  Yellen: Bitcoin Can Be Extremely Volatile

  

  The United States Treasury Secretary Janet Yellen said on Monday that Bitcoin is an inefficient way of conducting transactions, pointing once again to the dangers of speculative trading of the digital currency. Remarks by Yellen came during an interview with CNBC and in line with her comments last week that …

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• 22 February 2021 9:30 pm

  European Stocks Close Lower as Treasury Yields Rise

  

  European stocks declined on Monday, amid a continuous rise in Treasury bond yields and expectations for a surge in inflation. The STOXX Europe 600 index fell by 0.36% to close the first session of the week at the level of 413.39 points. Meanwhile, the German benchmark index DAX closed lower …

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• 22 February 2021 8:52 pm

  Yellen: Biden’s Plan Success Depends on Employment

  

  The success of the American rescue plan, proposed by the United States President Joe Biden, will be evaluated based on how quickly it helps the economy return to unemployment levels as sees prior to the Coronavirus pandemic, the U.S. Treasury Secretary Janet Yellen said on Monday. Once again, Yellen said …

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• 22 February 2021 7:21 pm

  Lagarde: ECB Closely Monitoring Bond Yields

  

  President of the European Central Bank (ECB) Christine Lagarde told the European Parliament on Monday that the bank is closely watching bond yields to assess financing conditions in the Eurozone and economic recovery from the Coronavirus crisis, Bloomberg reported. “Within the broad-based set of indicators that we monitor to assess …

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• 22 February 2021 6:22 pm

  Breaking: Bitcoin Collapses Below $50,000 as Selling Pressure Mounts

  

  Bitcoin has been tumbling down since Elon Musk tweeted that its value “seems high” over the weekend. After topping $58,000 and a valuation of over $1 trillion, the most popular cryptocurrencies has collapsed over $10,000.

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• 22 February 2021 6:04 pm

  US: Chicago Fed National Activity Index Improves to 0.66 in January

  

  The Federal Reserve Bank of Chicago’s National Activity Index (CFNAI) rose to 0.66 in January from 0.41 in December and came in better than the market expectation of 0.4%. “The CFNAI Diffusion Index, which is also a three-month moving average, moved down to +0.34 in January from +0.49 in December,” …

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• 22 February 2021 6:03 pm

  Oil Prices Rise as Production Begins Slowly in The United States

  

  Oil prices increased due to the slow resumption of US crude production after it was reduced by freezing weather conditions while demand recovered from its low levels during the Corona pandemic. Brent crude rose 55 cents, or 0.9%, to $63.46 a barrel, after increasing nearly 1% last week. U.S. crude …

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• 22 February 2021 5:52 pm

  US Media: About a Third of Texas Residents Still Suffer From a Lack of Water Supply

  

  US media reported that US authorities said that about 8.8 million Texas residents were still facing water supply problems after an unprecedented frost wave damaged power plants last week. The authorities still advise millions of Texas residents to boil water before using it, although all power stations returned to work …

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• 22 February 2021 5:50 pm

  IFO: German Industrial Sector Raises Economic Outlook

  

  The German economy is heading for improvement, and that sentiment has improved in the industrial sector, in particular, said Klaus Vollerbe, an economist at IFO, on Monday. He added that companies had revised production plans upwards and had increased export expectations for the industry. “The German economy is looking towards …

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