Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 31 May 2021 1:17 pm

  European Shares Fall From Record Levels

  

  European shares fell from record levels on Monday, amid weak trading due to holidays in major markets, but optimism about a quick economic recovery is heading the main index towards achieving gains for the fourth consecutive month. The pan-European STOXX 600 index fell 0.1%, and shares in Frankfurt fell 0.2%, …

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• 31 May 2021 12:50 pm

  Oil Contracts Are Heading For Gains For The Second Month in a Row

  

  Oil prices rose in early Asian trade on Monday, buoyed by positive times for fuel demand growth next quarter, as investors look to this week’s OPEC+ meeting to see how producers will respond. Brent crude futures for August delivery were up 50 cents, or 0.7%, at $69.22 a barrel, after …

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• 31 May 2021 12:20 pm

  Japan Shares Close Lower on Profit-Taking

  

  Japanese shares closed lower on Monday, as investors booked profits after a recent rally, but losses were limited thanks to a positive conclusion from domestic drug makers. The Nikkei index lost 0.99% to record 28,860.08 points at the close, while the broader Topix index fell 1.26% to 1922.98 points. The …

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• 31 May 2021 5:12 am

  Weekly Recap: 24-28 May

  

  The US dollar was able to end last week higher against most of the major currencies after strong US data. The yellow metal also fell to $1,890 an ounce on Friday, down from a 4-month high of 1910 on May 26. Coronavirus cases are slowly declining, and the US and …

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• 29 May 2021 6:28 am

  Bitcoin Declines to Extend Weekly Losses

  

  Bitcoin fell on Friday by more than 5% to trade near $36,340, as cryptocurrencies showed high selling pressures. The world’s largest digital currency has now lost about 4.6% over the past seven days. In a similar way, Ethereum plunged by about 7.7% to $2,515, but remained higher on a weekly …

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• 29 May 2021 3:37 am

  Oil Closes Mixed but Maintains Gains Ahead of OPEC Meeting

  

  Oil prices fluctuated on Friday and showed a mixed performance but still managed to register weekly and monthly gains on the back of positive expectations for demand recovery. Brent crude futures for July delivery rose by 17 cents, or 0.2%, to finish at $69.63 per barrel, its highest closing level …

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• 29 May 2021 2:27 am

  Gold Closes Higher to Expand Weekly and Monthly Gains

  

  Gold prices rose on Friday, extending weekly and monthly gains and restoring the $1,900 level. As recent data showed a surge in inflation, gold and other safe haven assets saw increased demand. Gold futures for August delivery rose by $6.80, or 0.4%, to close at $1,905.30 per ounce. This marked …

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• 29 May 2021 1:50 am

  U.S. Treasury Bond Yields Decline for the Week

  

  Return on the U.S. Treasury bonds declined on Friday, as the personal consumption indicators showed another surge in inflation. The rising inflation is increasing investors’ demand for safe haven assets, like the Treasury bonds, even though most expectations lean towards inflationary pressures being temporary. The benchmark 10-year Treasury bond yield …

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• 29 May 2021 1:28 am

  Dollar Erases Most Daily Gains to Settle Marginally Higher

  

  The U.S. Dollar (USD) gave up most of its gained on Friday, which were supported by the positive economic data. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up for the day by less than 0.1% at 90.06. Early in …

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• 28 May 2021 8:48 pm

  European Stocks Hit New Record High

  

  European stocks rose on Friday, closing at a new record high, and registering weekly and monthly gains. The rise in European stocks was supported by an improved investors’ sentiment, following recent positive economic data. The German benchmark DAX and the French CAC40 indices closed higher by 0.74% and 0.75%, respectively. …

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• 28 May 2021 7:51 pm

  Chicago Business PMI at Highest Level Since 1973

  

  The Chicago Business Barometer Index surged in May to reach a reading of 75.2 from a level of 72.1 in April, data showed on Friday. The Purchasing Manager Index (PMI) reached its highest level since 1973, according to ISM-Chicago. Robust demand helped boost the business activity, with the new orders …

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• 28 May 2021 5:41 pm

  US: Personal Income Declines by 13.1% in April

  

  The US Bureau of Economic Analysis (BEA) reported on Friday that Personal Income contracted by 13.1% in April. This reading came in slightly better than the market expectation for a decline of 14.1%.

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• 28 May 2021 4:36 pm

  US Annual Core PCE Inflation Jumps to 3.1% in April

  

  Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 0.6% on a monthly basis in April. This reading came in higher than the market forecast of 0.2%. On a yearly basis, the PCE Price Index rose to 3.6% from 2.4%, compared to …

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