Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 10 June 2021 3:56 am

  Oil Prices Stabilize Following U.S. Inventory Report

  

  Oil prices showed a mixed performance on Wednesday, after the weekly inventories report in the U.S. showed a huge surge in gasoline stockpiles. The U.S. crude benchmark futures declined, while the global benchmark settled nearly unchanged, despite a decline in crude inventories in the United States. The rise in gasoline …

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• 10 June 2021 3:25 am

  Gold Closes Higher as Treasury Yields Retreat

  

  Gold prices finished higher on Wednesday with small gains, amid a decline by the U.S. Dollar (USD) and Treasury bond yields. Nevertheless, the yellow metal’s most active contracts failed to regain the $1,900 key level. Gold futures for August delivery gained $1.1 to close at $1,895.50 per ounce. Markets are …

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• 10 June 2021 2:51 am

  European Stocks Close Mixed ahead of ECB Meeting

  

  European stocks showed a mixed performance on Wednesday, with investors awaiting the decision of the European Central Bank (ECB) regarding the future of the Pandemic Emergency Purchase Programme (PEPP). The pan-European STOXX 600 index rose marginally by a little less than 0.1% at 454.44 points. The benchmark index in France, …

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• 10 June 2021 2:38 am

  GBP/USD Scores Daily Gains in Absence of Data

  

  The British Pound (GBP) rose against the U.S. Dollar (USD) and managed to finish Wednesday’s trading higher on the back of a the latter’s decline. The GBP/USD finished at 1.4173, higher for the day by about 0.11%, after closing on Tuesday at 1.4157. Markets are anticipating the release of May’s …

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• 10 June 2021 1:00 am

  EUR/USD Erases Daily Gains to Settle Near Daily Low

  

  The Euro (EUR) erased most of its gains against the U.S. Dollar (USD) on Wednesday, moving towards a marginal rise near its closing level in the previous session. Earlier today, the EUR/USD pair was trading as high as 1.2218, due to the brief plunge by the Dollar, after falling U.S. …

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• 9 June 2021 9:14 pm

  U.S. Wholesale Inventories Rise in April

  

  Wholesale inventories in the United States registered a relatively large rise in April, data showed on Wednesday. According to the most recent data by the U.S. Department of Commerce, wholesale inventories grew by 0.8%. The reading follows a 1.2% rise in March. The growth in wholesale inventories has been attributed …

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• 9 June 2021 7:53 pm

  DXY Rises Marginally to Recover from Steep Drop!

  

  The U.S. Dollar (USD) rose on Wednesday against major peers, with markets anticipating the release of last month’s inflation data. The May reading of the Consumer Price Index (CPI) is due to be released tomorrow by the U.S. Bureau of Labor Statistics. The Dollar Index (DXY), which measures the greenback’s …

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• 9 June 2021 7:33 pm

  Bitcoin Tests a High After El Salvador

  

  Bitcoin has now recovered and it has managed to reach the end of a journey of struggle, after passing the $34,000 levels and breaking the $35,000 threshold. The recent Bitcoin uprising came today, Wednesday, after the historic approval of the Parliament of El Salvador on a law making Bitcoin the …

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• 9 June 2021 7:02 pm

  EIA: US Crude Oil Stocks Decrease by 5.2 Million Barrels

  

  Crude Oil Stocks Change in the US was -5.2 million barrels in the week ending June 4, the weekly report published by the US Energy Information Administration (EIA) revealed on Wednesday. Analysts’ estimate was for a decrease of 2 million barrels.

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• 9 June 2021 6:34 pm

  Japan PM Suga: Will Aim to Meet Fiscal Targets And Raise Minimum Wage

  

  Japanese Prime Minister Yoshihide Suga said on Wednesday, his government will focus to achieve fiscal targets including the target to bring primary balance to surplus. The government will also strive to raise the nationwide average minimum wage to JPY1,000 an hour soon.

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• 9 June 2021 6:07 pm

  Bank of Canada Leaves Policy Settings Unchanged as Expected

  

  In a widely expected decision, the Bank of Canada (BoC) announced on Wednesday that it left its key rate unchanged at 0.25% following the June policy meeting. The BoC decided to maintain the target of C$3 billion in weekly net asset purchases of the government of Canada bonds as well.

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• 9 June 2021 5:28 pm

  China Begins Implementing Government Decisions to Stop Bitcoin Mining

  

  The authorities in China’s Zhangjiajie Province on Wednesday issued a notice to officials in one of the prominent bitcoin mining centers in the region to stop all their activities related to mining bitcoin and cryptocurrencies. The notification to the authorities stated that the new instructions were based on the strict …

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• 9 June 2021 4:28 pm

  El Salvador Becomes First Country to Adopt Bitcoin as Legal Tender

  

  El Salvador has become the first country to adopt bitcoin as a legal currency after lawmakers in Congress voted overwhelmingly in favor of the bitcoin law. The purpose of this law is to regulate bitcoins as a legal currency with unrestricted liberalization authority, and unlimited in any transaction. Prices can …

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