Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 2 February 2021 12:56 am

  Oil Maintains Gains on OPEC+ Commitment

  

  Oil prices rose on Monday supported by the commitment of the members of the Organization of the Petroleum Exporting Countries (OPEC) and other major producers, known as OPEC+. Last month, OPEC+ agreed on extending the output curbs in February, with Saudi Arabia vowing to unilaterally cut production to help restore …

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• 1 February 2021 10:53 pm

  USD Nears Highest Level since Early December

  

  The U.S. Dollar (USD) rose on Monday, opening the week with a positive performance, supported by the decline of the Euro (EUR) and the Swiss Franc (CHF). The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.43% at 90.97. …

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• 1 February 2021 10:49 pm

  Gold Prices Rise and Silver Hits Highest Level in Eight Years

  

  Gold prices rose on Monday, amid improved demand despite the U.S. Dollar (USD) showing rebound signs and rising across the board against major currencies. The yellow metal futures for April delivery gained $13.6, or 0.7%, and settled at the level of $1,863.90 per ounce. Meanwhile, silver futures for March delivery …

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• 1 February 2021 9:42 pm

  Fed’s Kashkari Praises Response to Coronavirus

  

  The President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Monday that the Fed and the U.S. Congress have responded well to the Coronavirus crisis, in a better way compared with the global financial crisis, Reuters reported. “Right now I’m not concerned about it – this is …

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• 1 February 2021 9:39 pm

  European Stocks Recover and Close in Green

  

  European stocks closed higher on Monday, opening the week with a positive performance amid improved investors’ sentiment. Following a weekly decline that was the worst since last October, the pan-European STOXX 600 index rose by 1.2%. The French index CAC40 bounces by 1.16%, while the German DAX finished higher by …

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• 1 February 2021 8:06 pm

  U.S. Construction Spending Records New High in December

  

  Construction spending in the United States hit a new record high in December, data showed on Monday. Construction spending rose by 1% to $1.49 trillion, its highest level since the records began in 2002, according to the U.S. Department of Commerce. The November reading was revised upwards to 1.1% from …

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• 1 February 2021 7:34 pm

  U.S. ISM Manufacturing Index Expands in January

  

  Economic activity in the United States manufacturing sector expanded in January, with the overall economy notching an eighth consecutive month of growth, according to the latest Manufacturing ISM Report On Business. The January Manufacturing Purchasing Managers Index (PMI) registered 58.7% last month, down 1.8% points from the seasonally adjusted December reading of 60.5%. After a contraction …

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• 1 February 2021 6:53 pm

  U.S. Manufacturing PMI Rises in January

  

  The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index (PMI) rose in January to a reading of 59.2 up from 57.1 in December, data showed on Monday. The final reading comes in line with the earlier flash estimate of 59.1. The reading signals a substantial improvement in operating …

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• 1 February 2021 6:47 pm

  Canada’s Manufacturing PMI Drops in January

  

  The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) declined in January to 54.4 from 57.9 in December, data showed on Monday. However, Canadian manufacturing businesses witnessed a solid expansion in business conditions, especially in the goods-producing sector. Production volumes increased solidly in January, extending the current …

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• 1 February 2021 5:39 pm

  Factory Growth in Britain Has Slowed Due to Coronavirus And Brexit

  

  A survey published Monday, February 1, showed that British manufacturers faced a double whammy last month due to global shipping disruptions due to the outbreak of a new wave of the Coronavirus, accompanied by new trade barriers with the European Union. Separate data from the Bank of England showed a …

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• 1 February 2021 4:46 pm

  EU: Unemployment Rate Stays Unchanged at 8.3% in December as Expected

  

  The seasonally adjusted Unemployment Rate in the euro area stayed unchanged at 8.3% in December, the data published by the Eurostat showed on Monday. This reading came in line with market expectation. Further details of the publication revealed that the EU Unemployment Rate in the same period was 7.5%.

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• 1 February 2021 4:00 pm

  Turkish Lira Rose 1.5% to August Levels

  

  The Turkish lira rose 1.5% on Monday, to its highest level since August, while a measure of risk retreated to near its lowest level in a year, supported by a tightening monetary tone from the central bank and data indicating a further recovery in manufacturing industries. The currency has outperformed …

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• 1 February 2021 3:28 pm

  Silver Rises to a Peak of 6 Months Due to Retail Boom

  

  Silver rose for the third session in a row on Monday, February 1, rising as much as 7.4% near a six-month peak after posts on social media last week called for retail investors to flood the market. Spot silver reached its highest level since August 11 at $ 29.7 an …

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