Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 3 July 2021 3:44 am

  Fed’s Daly Expects Tapering in Late 2021 or Early 2022

  

  The President of the Federal Reserve Bank of San Francisco, Mary Daly, expects the Federal Reserve will begin tapering before the end of 2021, since the economy is really shaping up nicely. Speaking to the Associated Press on Friday, Daily said that “it is appropriate to consider tapering asset purchases …

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• 3 July 2021 12:39 am

  Oil Closes Mixed but Maintains Weekly Gains

  

  Oil prices showed a mixed performance on Friday, amid with markets awaiting the outcomes of the OPEC+ summit. The OPEC+ alliance could not agree on Friday on a decision regarding output policy for August and beyond. Discussions are expected to resume on Monday, according to recent media reports. Brent crude …

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• 2 July 2021 11:31 pm

  Gold Maintains Gains for Second Straight Week

  

  Gold maintained a positive performance for the third session in a row on Friday to finish the week on a rise for the second consecutive week. The yellow metal futures for August delivery gained $5.60, or 0.38%, to finish at $1,783.30 per ounce, its highest since June 23. Gold gained …

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• 2 July 2021 10:43 pm

  Reports Show Improved Growth Forecasts for U.S. Economy

  

  The United States economy is expected to achieve a better than previously expected growth this year, as shown by the most recent forecasts. Containing the coronavirus pandemic with the rollout of vaccines, reopening business, demand recovery helped by the massive stimulus and support measures are providing the base for recovery …

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• 2 July 2021 10:00 pm

  European Stocks Narrow Weekly Losses

  

  European stocks closed higher on Friday for the second consecutive session, supported by a positive performance by leisure and travel stocks, despite losses by the banking stocks, which limited gained amid concerns about the Delta variant of the Coronavirus. The STOXX Europe 600 Index gained 1.18 points or 0.26% and …

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• 2 July 2021 9:20 pm

  USD/CAD Drops Following Slew of Economic Data

  

  The U.S. Dollar (USD) dropped against its Canadian counterpart (CAD), sliding into the negative territory with the beginning of the American session, after moving earlier in a relatively tight range around its highest level in about two weeks near 1.24. The greenback has declined across the board following the release …

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• 2 July 2021 7:48 pm

  U.S. Factory Orders Rebound in May

  

  New factory orders in the United States rebounded in May, following a decline that exceeded expectations in April, data showed on Friday. Factory orders increased by 1.7%, following a 0.1% decline in April, according to the U.S. Department of Commerce. On an annual basis, factory orders surged by 17.2% compared …

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• 2 July 2021 6:07 pm

  Canada: Markit Manufacturing PMI Decline to 56.5 in June

  

  The business activity in Canada’s manufacturing sector continued to expand in June, albeit at a softer pace than it did in June, with the Markit Manufacturing PMI edging lower to 56.5 from 57 in May.

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• 2 July 2021 5:43 pm

  Canada: International Trade Deficit of C$1.4B in May

  

  Canada’s international merchandise trade deficit came in at C$1.4 billion in May as data published by Statistics Canada showed on Friday, worse than market expectations of C$0.37 billion. “In May, Canada’s merchandise imports increased 2.1%, while exports fell 1.6%,” the publication read. “In May, the average value of the Canadian …

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• 2 July 2021 5:15 pm

  BofA: Liquidity Continues to Flow Into Stocks And Bonds

  

  The latest statistics from Bank of America fund flows showed that investors continued to pour more liquidity into bonds and stocks, as Wall Street hit a new record high and US government bond yields remained below 1.5%. The US investment bank said, based on data from IBFR, that fixed income …

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• 2 July 2021 4:32 pm

  US Nonfarm Payrolls Surge by 850,000 in June

  

  Nonfarm Payrolls (NFP) in the US rose by 850,000 in June, the data published by the US Bureau of Labor Statistics (BoL) showed on Friday. This reading followed May’s print of 583,000 (revised from 559,000) and came in better than the market expectation of 700,000.

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• 2 July 2021 4:07 pm

  The Turkish Trade Deficit Decreased by 11.4% in The First Half of 2021 And Widened by 1% in June

  

  The Commerce Ministry said Turkey’s trade deficit decreased 11.4 percent to $21.16 billion in the first half of 2021, and expanded 1.04 percent year on year to $2.89 billion in June, according to the General Trade System. In June, exports amounted to 46.9% to 19.77 billion dollars, after they were …

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• 2 July 2021 3:48 pm

  US Yields Still Drifting Below 1.50% Ahead of NFP

  

  Despite the dollar’s continued sustained strength over the past few days, bonds have fallen in line with 10-year Treasury yields staying below 1.50%. The next bond movement will be led by the employment data expected to be released today. There is a good argument that if the employment data comes …

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