Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 4 June 2021 4:43 pm

  Canada: Unemployment Rate Rises to 8.2% in May

  

  The Unemployment Rate in Canada edged higher to 8.2% in May from 8.1% in April with the Net Change in Employment falling by 68,000, compared to market expectation of -20,000, the data published by Statistics Canada showed on Friday.

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• 4 June 2021 4:39 pm

  US Nonfarm Payrolls Rise by 559,000 in May

  

  the data published by the US Bureau of Labor Statistics showed on Friday that Nonfarm Payrolls (NFP) in the US rose by 559,000 in May. This reading followed April’s figure of 278,000 and came in worse than the market expectation of 650,000.

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• 4 June 2021 4:22 pm

  A Representative of The Chinese Foreign Ministry: The United States Must Respect The Rule of Law

  

  A representative of the Chinese Foreign Ministry said that the United States should respect the rule of law and the market, correct its mistakes, and stop actions that undermine the global financial market system and the legitimate rights and interests of investors. The statement came after President Joe Biden on …

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• 4 June 2021 3:29 pm

  Oil Advances Towards $72, Supported by Demand Expectations

  

  Oil rose towards $72 a barrel on Friday, June 4, to trade near its highest level in two years, as the OPEC+ plan on supplies and recovering demand overshadowed concerns about the irregular activity of vaccinations against Covid-19 globally. The Organization of the Petroleum Exporting Countries (OPEC) and its allies …

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• 4 June 2021 2:38 pm

  Russia Expects The WHO to Approve The Sputnik V Vaccine Within Two Months

  

  Kirill Dmitriev, head of the Russian Direct Investment Fund, told Reuters that Russia expects WHO to approve the Sputnik-V vaccine against COVID-19 within two months. The Russian fund is responsible for marketing the vaccine. Dmitriev stated that the European Medicines Agency, which is also reviewing the Russian vaccine, “has obtained …

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• 4 June 2021 2:18 pm

  Eurozone Retail Sales Fell More Than Expected in April

  

  Data showed that retail sales in the euro area fell more than expected in April, affected by a decline in sales of non-food products, but it is still much higher than it was 12 months ago when most countries were subject to strict lockdown measures linked to the pandemic. The …

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• 4 June 2021 1:39 pm

  Gold Hits a Two-Week Low Due to The Dollar’s Rise, With US Data Awaiting…

  

  Gold fell to its lowest level in more than two weeks Friday, June 4, weighed by a stronger dollar, while investors awaited the US non-farm payrolls data for May, as bets loomed on a possible scaling back of stimulus measures by the US Federal Reserve. And gold fell in spot …

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• 4 June 2021 1:06 pm

  Oil Prices Are Falling as Pessimism About The Corona Virus Continues

  

  Oil prices fell on Friday, June 4, as optimism about a recovery in fuel demand waned, in light of concerns about the irregular delivery of Covid-19 vaccines globally. Brent crude fell 13 cents, or 0.2%, to $ 71.18 a barrel, after falling 4 cents yesterday, Thursday, after rising to its …

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• 4 June 2021 12:30 pm

  Japan Shares Mixed Before US Data

  

  Japanese stocks were mixed at the close Friday, June 4, affected by growth-related stocks, while investors awaited the important US jobs report, which may increase concerns about inflation and talk of reduced purchases by the Federal Reserve. The Nikkei index closed down 0.40% to 28,941.52 points after two days of …

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• 4 June 2021 5:51 am

  Fed’s Decision on Corporate Bonds Signals Beginning of Policy Tweaks

  

  The U.S. Federal Reserve on Wednesday announced that it will begin reducing its purchases of corporate assets, as the economy recovers from the coronavirus pandemic. The Fed believes that such support measurement was needed in the midst of the recession caused by the pandemic, noting that now is time to …

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• 4 June 2021 5:06 am

  NYSE Closes Lower Ahead of Jobs Report

  

  The New York Stock Exchange (NYSE) finished lower on Thursday, with tech stocks leading the decline. In addition, a rise in Treasury bond yields to their highest level in more than two weeks weighed on the stock market. The Dow Jones Industrial Average slipped by 23.34 points, or 0.07%, to …

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• 4 June 2021 4:30 am

  Oil Closes Lower on U.S. Gasoline Inventory Buildup

  

  Oil prices finished marginally lower on Thursday, despite the huge drop in U.S. crude inventories, as a surprise buildup in gasoline and distillates stockpiles led to some concerns about the pace of demand recovery. However, oil futures remain mostly elevated supported by the market stability assured by the recent decision …

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• 4 June 2021 4:06 am

  Gold Drops and Loses $1,900 Key Support Level

  

  Gold prices fell on Thursday to close below the $1,900 level, losing an important support level and finishing at the lowest level in about three weeks. The rise of the U.S. Dollar (USD) against major peers and the elevated risk sentiment among investors, both on the back of the positive …

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