Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 6 May 2021 6:32 pm

  BoE May Policy Meeting Highlights

  

  The Bank of England (BoE) decided to maintain the record low-interest rates during its monetary policy meeting on Thursday. The benchmark interest rate was maintained at its all-time low level of 0.1%. BoE also revised upwards its expectations for economic growth in the United Kingdom (UK) this year, as the …

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• 6 May 2021 5:28 pm

  U.S. Non-Farm Productivity Rises in Q1

  

  Worker productivity in the United States rose during the first quarter of the year, data showed on Thursday. Nonfarm productivity increased by 5.4% on a yearly basis during Q1 of 2021, according to the U.S. Department of Labor. The reading for Q4 of last year was revised upwards to show …

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• 6 May 2021 4:45 pm

  U.S. Jobless Claims Hits Lowest Level since Pandemic

  

  Initial jobless claims declined last week to reach a seasonally adjusted 498,000 for, data by the U.S. Department of Labor showed on Thursday. The decline in the claims for state unemployment benefits during the week ended May 1 decreased compared to its level at 590,000 in the previous week, reaching …

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• 6 May 2021 3:55 pm

  The Turkish Lira Falls Slightly

  

  The Turkish lira weakened slightly Thursday, May 6, ahead of the central bank meeting to set the interest rate, as it is expected to keep the main interest rate unchanged in the face of rising inflation. The lira was at 8.3350 against the dollar, down slightly from the settlement rate …

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• 6 May 2021 3:06 pm

  German Industrial Orders Rise on Strong Domestic Demand

  

  German industrial orders rose for the third consecutive month in March, supported by domestic demand, data showed, in a new indication that manufacturers in Europe’s largest economy are likely to cushion the impact of lower household spending linked to the lockdown measures. The data published by the Federal Statistics Office, …

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• 6 May 2021 3:03 pm

  BoE Leaves Rate and QE Unchanged

  

  The Bank of England’s (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its May policy meeting and kept the Asset Purchase Facility steady at £895 billion as widely expected.

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• 6 May 2021 3:02 pm

  Decline in Oil Prices Despite a Significant Decrease in US Crude Inventories

  

  Oil prices retreated after they rose earlier Thursday, May 6, under pressure from increased cases of Covid-19 in India and elsewhere, despite a drop that greatly exceeded expectations for US crude stockpiles. Brent crude futures fell 28 cents, equivalent to 0.4%, to $ 68.68 a barrel, and US West Texas …

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• 6 May 2021 2:22 pm

  Eurozone Retail Sales Exceeded Expectations in March

  

  Data showed retail sales in the eurozone rose more than expected in March, indicating pent-up demand among consumers as the pandemic eases. The European Union statistics office Eurostat said that retail sales in the 19 countries that use the euro jumped 2.7% month over month in March and 12% year …

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• 6 May 2021 1:14 pm

  Gold Rises Supported by Declining Bond Yields And Focus on US Jobs Data

  

  Gold prices rose Thursday, May 6, as a decline in US Treasury bond yields offset pressure from the dollar’s ​​rally, while investors awaited US non-farm payrolls data for April, which is scheduled for release later this week. Spot gold rose 0.2% to $1789.22 an ounce. US gold futures advanced 0.2% …

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• 6 May 2021 12:30 pm

  Japan Shares Closed on Upside on Support of Stocks Linked to the Economic Cycle

  

  Japanese stocks rose Thursday, May 6, to record their largest percentage gain in two weeks, as investors flocked to stocks linked to the economic cycle after Wall Street’s gains, but technology stocks that tracked the fall of the Nasdaq index limited the gains. The Nikkei index advanced 1.8% to close …

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• 6 May 2021 1:08 am

  Fed Officials Remain Patient about Policy Changes

  

  The United States Federal Reserve Vice Chairman, Richard Clarida, said on Wednesday that time is yet to come for reducing the massive bond-buying or raising the historically low-interest rates. Speaking on behalf of the central bank, Clarida told reports “we will get more data, and as we move through the …

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• 5 May 2021 11:07 pm

  Oil Shows Mixed Performance Following Inventory Data

  

  Oil prices showed a mixed performance on Wednesday, following the release of the weekly inventories report in the United States. Another increase in gasoline stockpiles increased worries about demand recovery. Brent crude futures for June delivery added 8 cents, or 0.1%, to reach $68.96 a barrel. Meanwhile, the U.S. West …

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• 5 May 2021 10:38 pm

  Metals Rally After Yellen Explains Rate Hike Remarks

  

  Gold prices rose on Wednesday after declining yesterday due to comments about the U.S. Treasury Secretary that suggested nearing an interest rate hike. The U.S. Secretary of the Treasury, Janet Yellen, is also the former leader of the Federal Reserve. She was the central bank’s first Chairwoman. Yellen walked back …

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