Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 19 January 2021 9:57 pm

  Yellen Voices Support for Biden’s Rescue Plan

  

  Former Chair of the United States Federal Reserve and President-elect Joe Biden’s nominee for Secretary of the Treasury, Janet Yellen, said on Tuesday that the benefits of the new rescue package, which will increase government stimulus spending by $1.9 trillion, are bigger than its costs. Speaking to the U.S. Senate …

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• 19 January 2021 9:22 pm

  Why the Fed is Set to Maintain its Easing Policies During 2021?

  

  The United States Federal Reserve is planning to maintain its easing policies for the foreseeable future, despite expectations that the new administration, led by the Democratic President-elect Joe Biden, will roll out new massive economic stimulus to help the American economy cope with the complications of the Coronavirus pandemic. Last …

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• 19 January 2021 9:04 pm

  European Stocks Close Lower Ahead of Biden’s Inauguration

  

  European stocks closed lower on Tuesday, amid anticipation for the developments of the Coronavirus pandemic across the content and for the new administration in the United States taking over tomorrow with the inauguration of President-elect Joe Biden. The pan-continental STOXX Europe 600 index finished lower by 0.2%, with the basic …

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• 19 January 2021 7:37 pm

  Canada’s Manufacturing Sales Down for Fourth Month in Row

  

  Manufacturing sales in Canada declined during November for the fourth month in a row, falling by 0.6%, according to data by Statistics Canada released on Tuesday. Manufacturing sales registered CAD 53.7 billion in November.

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• 19 January 2021 7:36 pm

  Canadian Wholesale Sales at Record High

  

  Wholesale sales in Canada increased during November 2020 for the seventh consecutive month to reach a new record high, data by Statistics Canada showed on Tuesday. Wholesale sales rose by 0.7% to hit a new all-time high of CAD 67.4 billion. In volume, wholesale sales went up by 0.9% in …

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• 19 January 2021 6:35 pm

  Goldman Sachs Profits Jump by 153% Thanks to Acquisition And Trading Activities

  

  Goldman Sachs Group announced a 153% increase in fourth-quarter profit today, Tuesday, driven by the strong performance of its core bond trading and underwriting activities, and an increase in mergers and acquisitions activities. The bank’s net profit attributable to ordinary shareholders rose to $ 4.36 billion in the quarter ended …

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• 19 January 2021 5:15 pm

  German ZEW Economic Sentiment Index Beats Estimates

  

  The German ZEW headline numbers for January showed that the Economic Sentiment Index improved to 61.8 versus 60.0 expected and 55.0 prevoius. While the sub-index Current Conditions figure arrived at -66.4 in Jan versus -68.5 expected and -66.5 seen previously. Meanwhile, the Eurozone ZEW Economic Sentiment for Jan unexpectedly rose …

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• 19 January 2021 4:44 pm

  BofA: Quarterly Profit Exceeds Expectations But Revenues Falling

  

  Bank of America reported a profit of 59 cents, compared to expectations of 55 cents, according to Refinitiv estimates. Quarterly revenues decreased by 10% to $ 20.2 billion compared to the same quarter of the previous year, which fell below expectations of $ 500 million. The following are the bank’s …

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• 19 January 2021 3:38 pm

  Russia: Second Vaccine is 100% Effective

  

  Russia has found that its second COVID-19 vaccine developed by the Vector Institute, is 100% effective. The Tass news agency reports that the perfect results are based on clinical trials.

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• 19 January 2021 3:05 pm

  EU Commission: National Plans to Spend Covid Recovery Funds Lack Detail, Need to be Improved

  

  The European Commission has warned some preliminary national plans to spend the covid recovery money lack detail and need to be improved, Reuters reports, citing sources with knowledge of the matter. “EU commission has said the net paying countries would reject plans if not accompanied by reforms.”

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• 19 January 2021 2:36 pm

  Egypt’s Trade Deficit Shrank by 17% in 2020

  

  The Egyptian Ministry of Trade and Industry said that the trade balance deficit decreased by about 17% year-on-year in 2020 to $ 38.291 billion. The ministry added in a press statement that non-oil exports decreased by 1% to 25.295 billion dollars in 2020, while imports fell 12% to 63.587 billion …

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• 19 January 2021 2:05 pm

  Gold Rising as Dollar Retreats From Its Peak in a Month

  

  Gold prices rose today, Tuesday, to rise from the one-and-a-half-month low they reached in the previous session, as the US dollar retreated, while the yellow metal, which is considered a safe haven, received support from the prospects of injecting more stimulus into the global economy. Spot gold rose 0.1% to …

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• 19 January 2021 1:14 pm

  Japan’s Nikkei Closes Higher

  

  Japanese stocks closed higher, after falling for two consecutive sessions, as investors held decliners, while carmakers and semiconductor stocks led the rally. The Nikkei index rose 1.39% to 28,633.46 points, while the broader Topix index rose 0.56% to 1,855.84 points. Sentiment was boosted after Chinese data released on Monday raised …

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