Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 24 June 2021 5:20 pm

  US: Weekly Initial Jobless Claims Edge Lower to 411K

  

  There were 411,000 initial claims for unemployment benefits in the US during the week ending June 19, the data published by the US Department of Labor (DOL) showed on Thursday. This reading came in weaker than the market expectation of 380,000 and followed the previous print of 418,000.

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• 24 June 2021 5:16 pm

  U.S: Real GDP Grows by 6.4% in Q1

  

  The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 6.4% in the first quarter, the US Bureau of Economic Analysis reported on Thursday. This reading matched the previous estimate and the market consensus.

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• 24 June 2021 4:27 pm

  China: Monthly PPI to Hit 10%, Adding Pressure to Consumption

  

  China Banking and Insurance Regulator Official said on Thursday that they “expect China’s monthly PPI to hit 10%, adding pressure to consumption.” The PPI, a benchmark gauge of a country’s industrial profitability, rose 9% from a year earlier in May, the fastest pace since September 2008 as China’s economy recovers.

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• 24 June 2021 3:58 pm

  Oil is Falling But Hovering Near Its Highest Level in 3 Years Thanks to Signs of Recovery

  

  Oil prices fell slightly on Thursday, June 24, but are still close to their highest levels in nearly three years, supported by a draw in US inventories and an acceleration in German economic activity. Prices were also supported by doubts about the future of the 2015 Iran nuclear deal, which …

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• 24 June 2021 3:39 pm

  Fed’s Mester: Not Yet Thinking About Adjusting Monetary Policy

  

  Cleveland Federal Reserve President Loretta Mester said on Tuesday that she is not yet thinking about adjusting monetary policy and added that she’d like to see further progress on employment, as reported by Reuters. “When the time comes, the Fed should start with the tapering model used after last recession and …

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• 24 June 2021 3:01 pm

  Bank of England Leaves Policy Settings Unchanged as Expected

  

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

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• 24 June 2021 2:57 pm

  Moody’s: China’s GDP Growth Will Boost Companies’ Earnings

  

  In its latest review report on China, Moody’s Investors Service noted that “China’s economic rebound will buoy demand for goods and services, lifting companies’ revenue over the next 12-18 months.” “Rising demand for goods and services in China, driven by GDP growth, will boost the earnings of most rated companies …

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• 24 June 2021 2:08 pm

  Bitcoin Holds up And Dogecoin Grabs Attention

  

  Despite the relative decline that Bitcoin, the largest digital currency, is witnessing in these moments of trading today, Thursday, speculators for a return to the rise above the $30,000 levels are steadfast, and have so far succeeded in supporting prices. Despite the panic that dominated the markets due to the …

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• 24 June 2021 1:01 pm

  China Lodges Complaint With WTO over Australia’s Trade Measures Against Some Chinese Rproducts – Reuters

  

  A monitoring from Reuters revealed that Russian oil prices from the Volga River region for local market supplies for July delivery reached a record high, rising about 11% compared to the previous month due to the rise in oil prices in global markets. Traders said that oil for July delivery …

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• 24 June 2021 12:30 pm

  Gold Finds Selling Pressure And Settles Below Resistance

  

  The resistance level published during the last analysis, located around 1797, was able to limit the bullish tendency witnessed by gold prices yesterday, which forced it to trade negatively again within a gradual decline to the downside approaching by a few points from the first official target 1770, recording its …

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• 24 June 2021 3:08 am

  U.S. Inflationary Pressures May Not Be Temporary

  

  The United States is seeing increased expectations that the recent surge in inflation might be as temporary or transitory as currently expected. The President of the Federal Reserve Bank of Atlanta, Raphael Bostic, believes that raising interest rates could take place next year, given the upside surprise in recent data …

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• 24 June 2021 1:46 am

  Yellen Expects Inflation Easing by Year End

  

  Inflation in the United States will decline by the end of 2021 to near 2%, the U.S. Secretary of the Treasury, Janet Yellen, said on Wednesday. Speaking in front of a Senate committee, Yellen told lawmakers that economic recovery is on a bumpy path. She believes the recent surge in …

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• 24 June 2021 12:34 am

  Yellen Calls for Raising U.S. Debt Limit ASAP

  

  The U.S. Secretary of the Treasury, Janet Yellen, said on Wednesday that Congress should raise or suspend the debt limit as soon as possible. In her testimony against the Senate, Yellen warned that failing to raise or suspend the debt limit would be catastrophic to the economy. The current debt …

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