Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 6 January 2021 11:30 pm

  Oil Closes at Highest Level in 11 Months

  

  Oil prices rose on Wednesday, after data showed a big drop in U.S. crude inventories last week, and on the back of the recent OPEC+ agreement to reduce production levels. Brent crude futures for March delivery rose by 70 cents, or 1.3%, to finish at $54.30 per barrel. Meanwhile, the …

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• 6 January 2021 11:00 pm

  Gold Closes Lower by More than 2%

  

  Gold prices dropped on Wednesday, due to the surge in Treasury bond yields in the United States to their highest level since March of last year. The yellow metal futures for February delivery declined by $45.80, or 2.3%, to close at $1,908.60 per ounce. Meanwhile, silver futures for March delivery …

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• 6 January 2021 10:06 pm

  U.S. New Factory Orders Rise More than Expected

  

  New factory orders in the United States rose strongly during November, data by the U.S. Department of Commerce showed on Wednesday. Factory orders increased by 1% in November, after rising by 1.3% in October, exceeding market expectations. On an annual basis, orders declined by 7.3%. In addition, orders for non-defense …

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• 6 January 2021 8:00 pm

  U.S. Oil Inventories Decline More than Expected

  

  Crude oil inventories in the United States declined last week by more than expected, data showed on Wednesday. The U.S. Energy Information Administration (EIA) weekly reported showed that crude oil stockpiles decreased by 8 million barrels in the week ending on January 1 to a total of 485.5 million barrels. …

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• 6 January 2021 8:00 pm

  European Stocks Finish Higher on Improved Sentiment

  

  European stocks closed Wednesday higher amid an improved investors’ sentiment supported by the rollout of new Coronavirus vaccines. The STOXX Europe 600 gained 1.6% on the back of strong gains by the banking sector. In the United Kingdom (UK), the FTSE100 index surged by 3.47%. Meanwhile, the French CAC40 and …

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• 6 January 2021 6:02 pm

  Germany: Annual HICP Unchanged at -0.7% in December

  

  Inflation in Germany, as measured by the Consumer Price Index (CPI), was 0.5% in December, Destatis reported in its flash estimate on Wednesday. This reading followed a 0.8% decline in November but missed the market expectation of 0.5%. The annual CPI stayed unchanged at -0.3%.

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• 6 January 2021 5:19 pm

  US Private Sector Employment Declines by 123K in December

  

  Employment in the US’ private sector decreased by 123,000 in December, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday.

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• 6 January 2021 4:46 pm

  Gold Reaches a Peak of Two Months, Supporting Expectations of a Democratic Victory in Georgia

  

  Gold prices hit a two-month high on Wednesday, with the dollar retreating due to growing expectations that Democrats will win the run-off in the US Senate elections in Georgia, which is likely to support the adoption of additional fiscal stimulus packages. During the session, gold rose in spot transactions to …

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• 6 January 2021 3:54 pm

  Dollar Falling as Democrats Advance The Run-Off Election in Georgia

  

  The dollar fell on Wednesday as Democrats advanced in the run-off election that will determine who will control the US Senate and could pave the way for lavish spending under the administration of President-elect Joe Biden. The euro crossed a major resistance level, reaching a 32-month high, while the US …

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• 6 January 2021 3:04 pm

  Eurozone Contraction in December is Deeper Than Expected

  

  A survey showed that economic activity in the Eurozone recorded a more severe contraction than previously thought at the end of 2020 and may deteriorate further with the renewal of the general isolation restrictions imposed to contain the Coronavirus, which has affected the services sector that dominates the bloc. With …

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• 6 January 2021 2:20 pm

  UK Final Services PMI Misses Estimates in December

  

  The UK services sector activity contracted more-than-expected in December, the final report from IHS Markit confirmed this Monday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 49.4 in December versus 49.9 expected and a 49.9 – December’s flash reading.

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• 6 January 2021 1:31 pm

  Bitcoin Soars Above $35,000, Hitting New High

  

  Bitcoin traded as high as $35,000 for the first time during the Asian session on Wednesday, rising to its highest level at $ 35,879, extending its rise by more than 800% since mid-March. The world’s most popular cryptocurrency crossed $ 20,000 for the first time ever on December 16.

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• 6 January 2021 1:20 pm

  European Stocks Rise as US Stimulus Hopes Revive

  

  European stocks rose on Wednesday, and sectors severely affected by the economy, such as energy and banking, gained as investors awaited the Democrats’ victory in the important run-off election in Georgia over two US Senate seats, which could lead to greater fiscal stimulus. A slight rise in the Stoxx 600 …

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