Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 25 February 2021 11:40 am

  Oil Hovering Near Highest Level in 13 Months as US Production Was Hit by a Storm

  

  Oil prices extended their gains for the fourth consecutive session and reached their highest levels in more than 13 months, supported by the US Central Bank’s assertion that interest rates will remain low, and a sharp drop in US crude production last week due to the storm that swept across …

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• 25 February 2021 11:38 am

  Currencies Overview: US Dollar Near Lowest Level in 3 Years

  

  The US dollar sat near its lowest level in three years against riskier currencies on Thursday, February 25th, as signs of a continued easing of monetary policy by the US Federal Reserve sparked trading in assets that are rising thanks to the improvement in the economic cycle. The US currency …

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• 25 February 2021 11:34 am

  Oil Rises More Than 2%, Following data Showing Declining US Production

  

  Oil prices rose on Wednesday to their highest in 13 months after US government data showed that crude production fell due to freezing weather last week. The US production of crude oil fell by more than ten percent last week, equivalent to one million barrels per day, in the midst …

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• 25 February 2021 11:31 am

  New US Home Sales Exceeded Expectations in January

  

  New US home sales increased more than expected in January, supported by record low mortgage rates and a severe shortage of existing homes for sale. The US Commerce Department report on Wednesday shows continued housing market support for the economy’s recovery from the COVID-19 recession. But momentum may ebb in …

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• 25 February 2021 4:05 am

  USD Erases Earlier Gains and Closes Lower

  

  The U.S. Dollar (USD) declined on Wednesday after fluctuations, amid a rise in Treasury yields, the market reacting to the approval of a new Coronavirus vaccine, as well as the testimony of the Federal Reserve Chair Jerome Powell in front of the House of Representatives. The Dollar Index (DXY), which …

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• 25 February 2021 3:53 am

  Oil Registers Highest Level Since January 2020

  

  Oil prices rose on Wednesday to their highest level in 13 months, despite data showing an increase in crude inventories in the United States last week. However, the U.S. Energy Information Administration (EIA) reported showed that distillate stockpiles registered a large decline. In addition, output disruptions in Texas, due to …

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• 25 February 2021 3:39 am

  NYSE Closes Higher with the Dow Seeing a Record Close

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, supported by the approval of the  Johnson & Johnson’s vaccine for emergency use in the United States. In addition, the market was supported by the remarks of the United States Federal Reserve Jerome Powell in his testimony to the House …

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• 24 February 2021 11:55 pm

  U.S. Treasury Yields Off Session Highs Following Powell Testimony

  

  Treasury yields in the United States continued to rise on Wednesday but gave up their record high levels seen earlier today, following remarks by the Federal Reserve Chair Jerome Powell. Selling pressure of long-term debt instruments continued amid concerns about a rise in inflation, however, Powell delivered a calming message …

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• 24 February 2021 11:38 pm

  Gold Prices Fall for Second Day

  

  Gold prices declined on Wednesday for the second consecutive session, losing the important $1,800 support level. The decline in the yellow metal prices came amid a continuous rise in the U.S. Treasury bond yields that reached their highest level in about a year. Gold futures for April delivery declined by …

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• 24 February 2021 11:32 pm

  Fed Chair Tells Congress Achieving Targets Could Require Three Years

  

  Chairman of the United States Federal Reserve, Jerome Powell, told the House of Representatives that the Fed will only raise interest rates when the economy achieves the employment and inflation targets. In his testimony to the House Financial Services Committee, Powell said that the Fed is in no hurry to …

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• 24 February 2021 11:11 pm

  Bitcoin Rises Nearing $49,600

  

  Bitcoin returned to gains on Wednesday, following a steep decline on Tuesday that erased all of its weekly gains. The world’s largest cryptocurrency is up by 4.67% at $49,580.6, reducing its losses during the past seven days to 3.34%. Earlier today, the digital currency exceeded the $50,000 level. Square, a …

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• 24 February 2021 10:54 pm

  U.S. Oil Inventories Rise 1.3 M Barrels in Week

  

  Crude oil inventories in the United States rose by 1.3 million barrels last week, data by the U.S. Energy Information Administration (EIA) showed on Wednesday. Meanwhile, gasoline stockpiles remained nearly virtually unchanged, while distillate inventories declined by 5 million barrels in the week ending February 19. However, oil prices continued …

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• 24 February 2021 9:37 pm

  European Stocks Close Higher on Positive Data

  

  European stocks closed higher on Wednesday, supported by positive economic data and a good performance by most market sectors. The STOXX Europe 600 index rose by 0.45% to close at 413.19 points. The German DAX finished higher by 0.80%, while the French CAC40 index gained 0.31%. Meanwhile, the UK’s FTSE100 …

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