Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 26 February 2021 8:13 pm

  USD Continues to Rise on Positive Data

  

  The U.S. Dollar (USD) continued to rise on Friday, supported by positive economic data that signaled an improvement in consumer spending. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up for the day by 0.48% at 90.57. The index has …

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• 26 February 2021 7:37 pm

  Chicago PMI Declines in February

  

  The Chicago Purchasing Managers’ Index (PMI) declined to 59.5 in February from 63.8 in January, data by ISM-Chicago showed on Friday. Despite the decline, it is worth noting that for the index a reading above 50 indicates the expansion of the manufacturing sector, while a reading below this level indicates …

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• 26 February 2021 7:25 pm

  U.S. Consumer Sentiment Declines in January

  

  Consumer sentiment in the United States declined in February, with many surveyed consumers still concerned about the pace of economic recovery and growth in the job market. The Consumer Sentiment Index declined to 76.8 in February from 79 in January, according to data by the University of Michigan released on …

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• 26 February 2021 7:12 pm

  Indian Economy Recovers from Recession in Q4 of 2020

  

  India’s gross domestic product (GDP) expanded by 0.4% on an annual basis during the fourth quarter (Q4) of 2020, data showed on Friday. Revised readings showed that the Indian economy contracted by 7.3% in Q3 and by 24.4% in Q2 of last year, according to figures by the Indian National …

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• 26 February 2021 7:03 pm

  U.S. Consumer Spending and Personal Income Rise in January

  

  Consumer spending in the United States increased sharply last month, amid increased government stimulus spending and a decrease in the number of new Coronavirus cases. U.S. consumer spending rose by 2.4% in January, following a 0.4% decline in December, data by the U.S. Department of Commerce showed on Friday. The …

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• 26 February 2021 6:21 pm

  Canada: Industrial Product Price Index Rises in January

  

  Prices for products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), rose by 2% in January, the data published by Statistics Canada showed on Friday. This reading followed December’s increase of 1.5%.

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• 26 February 2021 5:30 pm

  Reuters: Oil on Track to Make Steady Gains

  

  A Reuters poll today showed that oil prices will witness a steady recovery this year, with the arrival of vaccines to prevent Covid-19 more people and the acceleration of the economic recovery, and in light of the additional momentum of stimulus and the control of supplies of major crude producers. …

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• 26 February 2021 4:21 pm

  BofA: Global Equity Funds Attract $46.2 Billion in Inflows

  

  Weekly data on fund flows from Bank of America showed that equity funds attracted their third-largest inflows ever at $46.2 billion in the week ending on Wednesday, led by flows into technology stocks and financial companies. Bank of America concluded that bond funds attracted $7.1 billion in inflows for the …

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• 26 February 2021 3:30 pm

  Turkey’s Trade Deficit Shrank by 33% in January

  

  Data from the State Statistics Institute on Friday showed that Turkey’s trade deficit shrank 32.8% year on year in January to $3.034 billion, according to the general trade system. The institute said that Turkey’s exports increased in January by 2.3% and imports decreased by 5.9% compared to January 2020. In …

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• 26 February 2021 3:29 pm

  European Shares Down More Than 1% on Surge in Bond Selling

  

  European shares tumbled 1.5% on Friday, led by mining and technology companies, as a jump in bond yields and concerns about rising equity valuations hurt demand for riskier assets. The benchmark European stocks index is on track to post its worst single-day performance this month.

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• 26 February 2021 2:46 pm

  The Turkish Lira is Close to Erasing Its Gains

  

  The Turkish lira fell for a fifth day in a row today, Friday, hit by high US bond yields, which contributed to erasing almost all of the gains made this year, and paving the way for a potential more difficult battle in the face of double-digit inflation. The lira fell …

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• 26 February 2021 2:09 pm

  Bitcoin Plunged More Than 6% to The Lowest Level in Two Weeks

  

  Bitcoin plunged as much as 6% today, hitting its lowest level in two weeks, as turmoil in global bond markets led to higher yields and sparked sales in riskier assets. The largest cryptocurrency in the world fell to a low of $44,451 before recouping some of its losses. And in …

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• 26 February 2021 1:33 pm

  Oil Mixed Amid Anticipation For OPEC+ Summit

  

  Oil prices slid on Friday as the collapse in bond prices led to gains for the US dollar and expectations have grown that as oil prices return to pre-pandemic levels, more supply will likely find its way into the market. US West Texas Intermediate crude futures fell 96 cents, or …

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