Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 7 July 2021 3:01 pm

  German Finance Ministry: Global Tax Reform to Take Effect in 2023

  

  German Finance Minister Olaf Scholz said on Wednesday said that the global tax reform will happen “very quickly “and become a practice in 2023. “Do not expect hurdles to moving ahead with a planned global tax reform at a G20 meeting in Venice.”

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• 7 July 2021 2:31 pm

  EU Commission Revises up Estimates For Eurozone Growth And Inflation

  

  The European Commission is out with its latest quarterly economic projections, raising the Eurozone growth and inflation estimates for this year while warning about the risks posed by new variants of the coronavirus. Raises forecast for Eurozone GDP growth to 4.8% in 2021 from 4.3%, to 4.5% in 2022 from …

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• 7 July 2021 1:06 pm

  The Euro Near a 3-Month Low After German Data

  

  The euro traded near a three-month low against the dollar on Wednesday after German data raised doubts about the strength of the economic recovery, while the US currency awaited the minutes of the Federal Reserve’s latest meeting. The single European currency was trading at $1.1820, after touching a three-month low …

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• 7 July 2021 11:30 am

  Japan Shares Close Lower as Chip Sector Slumps on COVID-19 Fears

  

  Japan shares closed lower on Wednesday, hurt by chip-related stocks, as concerns about rising COVID-19 cases ahead of the Olympics dampened sentiment. The Nikkei index fell 0.96% to close at 28366.95 points, while the broader Topix index fell 0.86% to 1937.68 points. Chip-related stocks tracked the decline in the Philadelphia …

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• 7 July 2021 11:02 am

  German Industrial Production Fell 0.3% in May For The Second Month in a Row

  

  German industrial production fell 0.3% in May for the second month in a row, according to data released Wednesday, July 7, in a new indication of supply bottlenecks slowing the recovery in Europe’s largest economy. The German Federal Statistical Office said industrial output fell by 0.3%, unlike Reuters polls that …

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• 7 July 2021 10:59 am

  Gold Prices Rise, Supported by Lower US Bond Yields

  

  Gold prices consolidated on Wednesday, July 7th, near the psychologically important $1,800 an ounce level, supported by lower US Treasury yields, while investors awaited the minutes of the Federal Reserve’s June meeting for more indications on its monetary policy outlook. Spot gold rose 0.1% to $1,797.84 an ounce, after hitting …

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• 7 July 2021 3:49 am

  Yellen to Call Upon G20 for Higher Minimum Corporate Tax

  

  The U.S. Treasury Secretary, Janet Yellen, plans to discuss with her G20 peers raising the global minimum corporate tax rate above the 15% level, which was recently agreed by 130 countries. G20 Finance Ministers and Central Bank Governors are meeting at a two-day summit in Venice, Italy on July 9-10. …

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• 7 July 2021 2:05 am

  Wall Street Begins Week with Mixed Performance

  

  The New York Stock Exchange (NYSE) began the week with a mixed performance, following a long weekend at Wall Street due to the Independence Day holiday. While the Dow and the S&P indices finished lower, th Nasdaq achieved modest gains to close at a new record high. The Dow Jones …

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• 7 July 2021 12:29 am

  USD Maintains Gains Following Fluctuations

  

  The U.S. Dollar (USD) showed a fluctuating performance on Tuesday but maintained the positive trend for almost all of the American session after data showed the U.S. services sector maintained growth last month but at a relatively slower pace compared with the record level seen in May, as shown by …

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• 6 July 2021 11:49 pm

  Oil Futures Take Major Blow Due to Output Uncertainty

  

  Oil prices dropped on Tuesday, finishing with huge losses, amid uncertainty about the outlook for production policies by major crude producers. Yesterday, the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies could not reach an agreement on the output policy starting August. Brent crude futures for September …

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• 6 July 2021 10:12 pm

  Gold Finishes Higher Following PMI Data

  

  Gold prices finished higher on Tuesday after PMI data showed continuous expansion in the U.S. services sector but at a slower pace in June after recording a new high in May. A drop in the U.S. Treasury bond yields also provided support for the yellow metal, as the 10-year and …

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• 6 July 2021 9:45 pm

  European Stocks Fall on Mixed Economic Data

  

  European stocks closed lower on Tuesday after the release of mixed economic data and on the regional and local levels. Eurozone retail sales increased more than expected in May, by 4.6%, according to data by Eurostat. Meanwhile, industrial orders in German unexpectedly dropped by 3.7% in May, marking its biggest …

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• 6 July 2021 9:09 pm

  IHS Markit U.S. Services PMI Slightly Below Estimates in June

  

  The seasonally adjusted final IHS Markit U.S. Services Purchasing Managers’ Index (PMI) Business Activity Index registered 64.6 in June, down from 70.4 in May, data showed on Tuesday. The reading comes slightly below the earlier flash estimate of 64.8, according to IHS Markit. The latest expansion in output was the …

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