Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 2 July 2021 9:20 pm

  USD/CAD Drops Following Slew of Economic Data

  

  The U.S. Dollar (USD) dropped against its Canadian counterpart (CAD), sliding into the negative territory with the beginning of the American session, after moving earlier in a relatively tight range around its highest level in about two weeks near 1.24. The greenback has declined across the board following the release …

  Read More »
• 2 July 2021 7:48 pm

  U.S. Factory Orders Rebound in May

  

  New factory orders in the United States rebounded in May, following a decline that exceeded expectations in April, data showed on Friday. Factory orders increased by 1.7%, following a 0.1% decline in April, according to the U.S. Department of Commerce. On an annual basis, factory orders surged by 17.2% compared …

  Read More »
• 2 July 2021 6:07 pm

  Canada: Markit Manufacturing PMI Decline to 56.5 in June

  

  The business activity in Canada’s manufacturing sector continued to expand in June, albeit at a softer pace than it did in June, with the Markit Manufacturing PMI edging lower to 56.5 from 57 in May.

  Read More »
• 2 July 2021 5:43 pm

  Canada: International Trade Deficit of C$1.4B in May

  

  Canada’s international merchandise trade deficit came in at C$1.4 billion in May as data published by Statistics Canada showed on Friday, worse than market expectations of C$0.37 billion. “In May, Canada’s merchandise imports increased 2.1%, while exports fell 1.6%,” the publication read. “In May, the average value of the Canadian …

  Read More »
• 2 July 2021 5:15 pm

  BofA: Liquidity Continues to Flow Into Stocks And Bonds

  

  The latest statistics from Bank of America fund flows showed that investors continued to pour more liquidity into bonds and stocks, as Wall Street hit a new record high and US government bond yields remained below 1.5%. The US investment bank said, based on data from IBFR, that fixed income …

  Read More »
• 2 July 2021 4:32 pm

  US Nonfarm Payrolls Surge by 850,000 in June

  

  Nonfarm Payrolls (NFP) in the US rose by 850,000 in June, the data published by the US Bureau of Labor Statistics (BoL) showed on Friday. This reading followed May’s print of 583,000 (revised from 559,000) and came in better than the market expectation of 700,000.

  Read More »
• 2 July 2021 4:07 pm

  The Turkish Trade Deficit Decreased by 11.4% in The First Half of 2021 And Widened by 1% in June

  

  The Commerce Ministry said Turkey’s trade deficit decreased 11.4 percent to $21.16 billion in the first half of 2021, and expanded 1.04 percent year on year to $2.89 billion in June, according to the General Trade System. In June, exports amounted to 46.9% to 19.77 billion dollars, after they were …

  Read More »
• 2 July 2021 3:48 pm

  US Yields Still Drifting Below 1.50% Ahead of NFP

  

  Despite the dollar’s continued sustained strength over the past few days, bonds have fallen in line with 10-year Treasury yields staying below 1.50%. The next bond movement will be led by the employment data expected to be released today. There is a good argument that if the employment data comes …

  Read More »
• 2 July 2021 2:40 pm

  The Dollar is at Its Highest Level in 3 Months Before The US Jobs Data

  

  Friday, July 2nd, the US dollar hit a three-month high against other major currencies, as traders are betting that strong US labor market data could push the currency higher. And the dollar index is on track to achieve another weekly gain of about 1%. The rise is the fourth in …

  Read More »
• 2 July 2021 1:30 pm

  Oil Falls After OPEC + Extends Supply Talks

  

  Oil prices fell on Friday, July 2 after OPEC + ministers postponed their meeting on production policy, while sources said that the UAE had blocked plans to return two million barrels per day to the market in the second half of the year. Brent crude futures were down 20 cents …

  Read More »
• 2 July 2021 1:06 pm

  Gold Rises on Virus Fears And Eyes Are on US Data

  

  Gold rose Friday, July 2nd, boosted by concerns surrounding the spread of the delta strain of the coronavirus, while investors awaited US non-farm payrolls data as it could influence the timing of the Fed’s policy shift. And gold rose in spot transactions 0.1% to $ 1778.52 an ounce. Gold is …

  Read More »
• 2 July 2021 12:26 pm

  NFP Preview: Forecasts from Three Major Banks

  

  Non-farm Payrolls is due on Friday, July 2 at 12:30 GMT and as we get closer to the release time, here are the forecasts by the economists and researchers of 3 major banks ING “Consensus is paring its expectations down from million-plus figures last month to 700K now. Our house …

  Read More »
• 2 July 2021 12:15 pm

  Nikkei Closes Higher With Support From Sony and Toyota

  

  Japan’s Nikkei closed higher on Friday, July 2, as gains in export-focused Sony and Toyota Motor Group offset by a weaker yen in chip-related stocks, but the index closed lower for the week on concerns about new infections with the Coronavirus. The Nikkei index rose 0.27% to 28,783.28 points, after …

  Read More »