Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 11 February 2021 2:12 pm

  A Sudden Drop in Russia’s Oil Production Since The Beginning of February

  

  Sources told Reuters that despite plans to increase its oil production, data show that Russia’s production of oil and gas condensate actually fell from February 1 to February 10 to 10.11 million barrels per day from an average of 10.16 million barrels per day in January. As of February, Russia …

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• 11 February 2021 2:10 pm

  Oil Retreating After a Strong Rally

  

  Oil prices retreated, giving back some of the strong recent gains they have made, on expectations of a slower economic recovery and speculation that market strength may entice producers like Saudi Arabia to reduce production. Brent crude fell 35 cents, or 0.6%, to $ 61.12 a barrel with the opening …

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• 11 February 2021 2:08 pm

  European Stocks Rise on Earnings Reports

  

  European stocks rose to remain on the path to concluding the week on stability, as investors closely watched a barrage of corporate earnings reports to derive indications of the pace of recovery in business activities. The pan-European STOXX 600 index rose 0.1% in early trade, with most of the sectors …

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• 11 February 2021 2:06 pm

  Gold is Falling on US Dollar’s Recovery And Weaker US Inflation Data

  

  Gold fell as the dollar recovered from a two-week low it reached in the previous session and weaker inflation data in the United States dampened appetite for the yellow metal. Gold fell in immediate transactions 0.3% to $ 1837.13 an ounce, after reaching its highest level in more than a …

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• 11 February 2021 2:12 am

  What is Driving the Surge in Platinum Prices?

  

  Platinum prices surged on Wednesday to their highest level in six years, with increased demand from investors driving the surge in the precious metal futures. According to market experts, platinum is attracting more investments now as it nears its third year in a row with a global supply deficit. In …

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• 11 February 2021 1:56 am

  Wall Street Closes Mixed Following Inflation Data and Fed Remarks

  

  The main indices of the New York Stock Exchange (NYSE) showed a mixed performance on Wednesday, with Wall Street investors digesting the January inflation data as well as recent remarks from the Federal Reserve Chair Jerome Powell. The Dow Jones Industrial Average rose by 61.97 points, or 0.2%, to close …

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• 11 February 2021 1:51 am

  U.S Treasury Yields Decline Following Inflation Reading

  

  Following the release of inflation data for last month, Treasury yields in the United States declined on Wednesday. Return on the 10-year Treasury bonds declined by 2.3 basis points to 1.133%. The 30-year bond yield also fell by 2.3 basis points to 1.924%. Meanwhile, the two-year bond yield decreased by …

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• 11 February 2021 1:48 am

  Oil Prices Maintain Gains After Data Shows Large Draw in U.S. Inventories

  

  The rally of oil prices continued on Wednesday, supported by the decline in the United States crude inventories last week, as shown by the weekly report of the U.S. Energy Information Administration (EIA) earlier today. In addition, the prospects of increases government stimulus spending in the U.S. is proving support …

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• 11 February 2021 1:41 am

  Gold Prices Rise for Fourth Session in Row

  

  Gold prices rose on Wednesday for the fourth consecutive session, as the U.S. Dollar (USD) declined following the release of the reading of the Consumer Price Index (CPI) in January. The market is still expecting the United States Congress will soon pass a huge stimulus relief package, around $1.9 trillion, …

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• 11 February 2021 1:37 am

  Fed’s Powell Doesn’t See Sustainable Rise in Inflation Soon

  

  The United States Federal Reserve Chair, Jerome Powell, on Wednesday said that he does not see a large nor sustained rise in inflation. Powell noted that an increase in consumer prices as spending rises after the economy reopens are not expected to be continue for long. “Inflation has been much …

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• 11 February 2021 12:32 am

  Fed’s Powell Calls for Society-Wide Commitment to Restore Employment

  

  The United States Federal Reserve Chair, Jerome Powell, called for more efforts to help the American economy recover from the impact of the Coronavirus pandemic, in order to reach full employment. Powell’s remarks came in a speech to the Economic Club of New York on Wednesday, Reuters reported. “Given the …

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• 10 February 2021 10:32 pm

  Remarks by BoE’s Bailey on Future UK-EU Relations

  

  The Governor of the Bank of England (BoE), Andrew Bailey, said on Wednesday that now is not the right time for disagreements between the European Union (EU) and the United Kingdom (UK) regarding financial services. Nonetheless, Bailey said that he believes the EU is imposing standards on the UK, which …

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• 10 February 2021 10:24 pm

  Cryptocurrencies Rally is Speculative Mania: BoC Deputy Governor

  

  The Deputy Governor of the Bank of Canada (BoC), Tim Lane, said on Wednesday that cryptocurrencies such as Bitcoin are a flawed payment method, Bloomberg reported. Lane also pointed to the costly verification methods and the digital currencies’ unstable purchasing power. “Our view remains unchanged, a digital currency is by …

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