Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 19 February 2021 10:00 pm

  Gold Fails to Recover Worst Weekly Losses Since Early January

  

  Gold prices rose on Friday for the second consecutive session, narrowing their weekly losses that remained the biggest since the first week of the year. A decline by the U.S. Dollar (USD) across the board against major international currencies helped the rise of the yellow metal, which still scored weekly …

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• 19 February 2021 10:00 pm

  U.S. Oil Rigs Decline for First Time in 13 Weeks

  

  The number of active oil rigs in the United States declined this week, seeing their first weekly decrease since November 2020, according to data by Baker Hughes. Oil rigs in the U.S. decreased by one to a total of 305 this week, while rigs drilling for natural gas increased by …

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• 19 February 2021 9:00 pm

  European Stocks Rise for Third Week in Row

  

  European stocks rose on Friday, extending their gains for the third consecutive week, amid improved investors’ sentiment that was supported by positive earnings reports by leading listed companies and positive economic data that fueled hopes for recovery from the Coronavirus pandemic. The STOXX Europe 600 index finished higher by 0.5%, …

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• 19 February 2021 8:42 pm

  Canada’s Retail Sales See Biggest Fall Since April

  

  Retail sales in Canada declined by 3.4% in December to CAD 53.38 billion ($42.37 billion), data by Statistics Canada showed on Friday. This marked the biggest monthly decline in Canadian retail sales since April, as renewed lockdown measures against the Coronavirus vaccines led to the shutdown of many outlets and …

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• 19 February 2021 7:57 pm

  U.S. Home Sales and Prices Rise in January

  

  Sales of existing homes in the United States increased during January by 0.6% compared with their level in December, data by the National Association of Realtors showed on Friday. Last month, sales reached a seasonally adjusted annual rate of 6.69 million units, rising by 23.7% on an annual basis, and …

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• 19 February 2021 7:44 pm

  U.S. Businesses Show Fastest Output Growth in 6 Years: PMI

  

  Businesses in the United States showed their strongest monthly output expansion in about six years this month, data showed on Friday. As the American economy is recovering from the impact of the Coronavirus pandemic, the service sector activity expanded and the manufacturing sector maintained output growth at a slightly slower …

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• 19 February 2021 5:05 pm

  Goldman Expects Limited Impact on Price of Oil Due to The Freezing Weather in Texas

  

  Goldman Sachs said in a note that a wave of freezing weather in Texas caused blackouts and disruptions to refineries and pipelines that would have a limited and only temporary impact on the global oil market. Oil prices fell by up to 2% on Friday, due to fears that the …

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• 19 February 2021 5:01 pm

  UK: CBI Manufacturing Order Book Balance Improves to -24 in February

  

  The data from the UK showed on Friday that the CBI’s Manufacturing Order Book Balance rose to -24 in February from -38 in January and surpassed the market expectation of -35.  Furthermore, the Manufacturing Output Expectations Balance jumped to -2 from -24 in January.

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• 19 February 2021 5:00 pm

  Eurozone Current Account Surplus Increased in December

  

  European Central Bank data showed that the eurozone’s current account surplus widened in December due to a higher trade surplus and a larger contraction of the secondary income deficit, which includes outflows such as remittances and taxes. The 19-nation bloc, which deals in euros, recorded a current account surplus of …

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• 19 February 2021 4:58 pm

  Bitcoin Reaches New Highs And Its Market Value Close to a Trillion Dollars

  

  Bitcoin hit a new record high on Friday and is moving towards achieving a market value of $ 1 trillion, ignoring analysts’ warnings that it constitutes an “economic sideways supply” and a flimsy hedge against falling stock prices. The value of the most popular cryptocurrency in the world jumped 2.6% …

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• 19 February 2021 3:13 pm

  Oil Falling as Investors Evaluate The Impact of Severe Cold on US Refineries

  

  Oil prices fell by more than 1% today, Friday, to continue declines recorded overnight, due to fears that refineries will take time to resume operations after a wave of freezing weather in the American South, causing a gap in demand, while OPEC+ supplies are expected to rise. Brent crude futures …

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• 19 February 2021 2:44 pm

  German Services Sector Records Its Biggest Contraction in 9 Months

  

  The preliminary reading for service PMI in Germany showed a drop to 45.9 in February 2021 versus 46.7 last and below expectations of 46.5. Soft figures indicated the fastest decline in service production since May of last year, As isolation measures due to Coronavirus continue to weigh on service activity

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• 19 February 2021 2:38 pm

  German Preliminary Manufacturing PMI Came at 60.6 in Feb

  

  The German manufacturing sector expanded more-than-expected in February, the preliminary manufacturing activity report from IHS/Markit research showed this Friday. The Manufacturing PMI in Eurozone’s economic power house came in 60.6 at this month vs. 56.5 expected and 57.1 prior.

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