Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 1 June 2021 7:37 am

  Bitcoin Registers Worst Monthly Losses Since 2011

  

  Although Bitcoin registered some gains on Tuesday, it still recorded its worst monthly losses since 2011. The world’s largest cryptocurrency in terms of market capitalization plunged by around 37.8% in May, marking its second-worst losses since a 40% drop in September 2011. The decline is close to that of November …

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• 1 June 2021 5:52 am

  OECD Revises Upwards Global Economic Growth Forecasts

  

  The Organisation for Economic Co-operation and Development (OECD) has improved its expectations for the global economy this year, due to the rollout of the COVID-19 vaccine, which is helping in the fight against the Coronavirus pandemic. Vaccines are allowing reopening economies and businesses to resume their work as usual, according …

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• 1 June 2021 12:10 am

  Reserve Bank of Australia Expected to Maintain Policy and Upgrade Expectations

  

  Markets are anticipating the upcoming monetary policy statement by the Reserve Bank of Australia (RBA), which is due on Tuesday. The RBA has been adopting a relatively dovish tone amid a rise in commodity prices, with the economy achieving a higher than expected recovery, but it is yet to be …

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May, 2021

• 31 May 2021 11:49 pm

  G7 to Discuss Global Corporate Tax Next Week

  

  Recent calls for advanced economies to agree on a minimum global corporate tax rate are making more progress with the G7 group representatives promising to reach an agreement on the issue soon. The G7 finance ministers are expected to pledge support to economic recovery from the Coronavirus pandemic, as well …

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• 31 May 2021 10:42 pm

  Yellen Explains Importance of Financial Literacy

  

  Financial literacy plays a huge role in achieving economic stability, according to Secretary of the U.S. Treasury Department, Janet Yellen. Speaking to the Financial Literacy and Education Commission, Yellen said that more financial literacy is needed but is not a magic solution, especially considering structural disadvantages, wealth gaps, and income …

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• 31 May 2021 9:20 pm

  European Stocks Retreat from Record Highs and Close Lower

  

  European stocks finished lower on Monday, with markets reacting to the recent inflation data. The STOXX Europe 600 index lost 0.49% to close at 446.76 points. The pan-European index ended last week at a new record high, registering weekly and monthly gains. The French CAC40 index ended today’s session lower …

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• 31 May 2021 8:00 pm

  Ethereum Surges Above $2,600

  

  Ether, the cryptocurrency of the Ethereum platform and the second-largest digital currency in the world, surged by more than 10% over the past 24 hours to trade near $2,623. Despite today’s rise, Ether remains far from its all-time record high of $4,300, but it has recovered from most of its …

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• 31 May 2021 6:15 pm

  The dollar is About to Lose For The Second Month Against The Euro And Sterling

  

  The US dollar came under pressure on Monday, heading for losses against the euro and the British pound for the second consecutive month, as traders assess the consequences of higher inflation ahead of monthly jobs data later in the week. The dollar index fell 0.03% to 90.058. On Friday, data …

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• 31 May 2021 5:25 pm

  Canada Current Account Surplus at C$1.18 Billion in Q1

  

  Canada has posted a current account surplus of C$1.18 billion in the first quarter of 2021 after registering a current account deficit of C$5.27 billion (revised from C$7.26 billion) in the fourth quarter of 2020.

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• 31 May 2021 4:34 pm

  Germany: Annual HICP Rises to 2.4% in May

  

  Inflation in Germany, as measured by the Consumer Price Index (CPI), edged lower to 0.5% (preliminary) on a monthly basis in May from 0.7% in March, the data published by Destatist showed on Monday. On a yearly basis, the CPI rose to 2.5% from 2%.

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• 31 May 2021 3:51 pm

  A Glimpse Into The Chinese Market: Industrial Activity Grows Slowly On Raw Material

  

  Growth in China’s industrial activity slowed slightly in May as raw material prices rose at the fastest pace in more than a decade, squeezing output from small firms and exporters. Data from the Office for National Statistics showed on Monday that the official manufacturing purchasing managers’ index fell to 51.0 …

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• 31 May 2021 3:06 pm

  Ethereum is up 5% But Remains 40% Lower Than Its Record Peak

  

  Cryptocurrency Ethereum is up more than 5% today to $2,523 but remains more than 40% below its record peak above $4,300 recorded this month. The currency rose 4.1% to $ 2495.69 in morning trading. As for its rival Bitcoin, the largest and most famous cryptocurrency in the world, it rose …

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• 31 May 2021 2:26 pm

  Japanese Factory Production Grows in April Thanks to Capital Goods

  

  Japan’s industrial production continued to grow in April as manufacturers benefited from a recovery in appetite for capital goods, especially in key overseas markets. The world’s third-largest economy is expected to grow this quarter at a much slower pace than previously thought after the government extended anti-coronavirus measures in Tokyo …

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