Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 16 June 2021 11:33 pm

  Oil Maintains Rising Trend Following U.S. Inventory Data

  

  Oil prices maintained their upwards trend on Wednesday, following the release of the weekly inventory report in the United States. Brent crude futures for August delivery increased by 40 cents, or 0.5%, to finish at $74.39 per barrel. The West Texas Intermediate (WTI) crude futures for July delivery added 3 …

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• 16 June 2021 10:29 pm

  Gold Closes Higher After Three Daily Losses

  

  Gold prices rose on Wednesday for the first time in four sessions, recovering some of its recent losses with the U.S. Federal Reserve’s expected decision to maintain its current policy. The Fed raised its inflation forecasts for 2021 and 2022, demand for the yellow metal increased with investors seeking hedging …

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• 16 June 2021 10:07 pm

  U.S. Fed Maintains Rates and Policy Unchanged

  

  The United States Federal Reserve has decided to maintain interest rates unchanged in its June meeting that concluded on Wednesday. The Federal Open Market Committee (FOMC) expects it will be appropriate to maintain the current rate target range until labor market conditions have reached levels consistent with the maximum employment …

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• 16 June 2021 8:51 pm

  European Stocks Close at Another Record High

  

  European stocks rose on Wednesday to close at a new record high, amid positive expectations for economic recovery. The STOXX Europe 600 index added 0.27% to finish near 460 points, as the travel and leisure stocks lead the gains and leveled up by 1.3%. This marked the ninth consecutive daily …

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• 16 June 2021 7:36 pm

  U.S. Oil Inventories Down 7.4 M Barrels

  

  Crude oil inventories in the United States declined by 7.4 million barrels last week, according to data by the Energy Information Administration (EIA) released on Wednesday. The decline exceeded most market expectations, which were hovering around 4.2 million barrels for the week ended June 11, but still came below estimates …

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• 16 June 2021 5:57 pm

  The Turkish Lira Swing Ahead of Rhe Central Turkish Meeting

  

  The Turkish lira traded around 8.5 against the US dollar after a volatile start to the week, amid strained US-Turkish relations and persistent concerns about the central bank’s credibility ahead of Thursday’s policy meeting. Earlier this week, President Recep Tayyip Erdogan reiterated his country’s position on the S-400 missile defense …

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• 16 June 2021 5:20 pm

  US: Housing Starts Rise by 3.6% in May

  

  Housing Starts in the US rose by 3.6% on a monthly basis in May following April’s drop of 12.1% (revised from -9.5%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Wednesday.

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• 16 June 2021 4:37 pm

  Canada: Annual CPI Rises to 3.6% in May

  

  Annual inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 3.6% in May from 3.4% in April, the data published by Statistics Canada revealed on Wednesday. This reading came in higher than the market expectation of 3.5%. On a monthly basis, the CPI remained steady at …

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• 16 June 2021 4:01 pm

  UK Inflation Hits 2.1%

  

  Inflation in Britain unexpectedly jumped, exceeding the target of the Bank of England in May, reaching 2.1%, in the context of the rise in prices after the end of the general isolation measures from Corona, which is expected to gain momentum. This acceleration of the consumer price index after recording …

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• 16 June 2021 3:08 pm

  Gold Consolidating in a Narrow Range, Eyes on The Fed

  

  Gold settled and moved in a narrow range on Wednesday, June 16, as investors awaited the outcome of the latest US Federal Council meeting for indications of a possible reduction of economic support measures, while the dollar’s rise imposed pressure on the yellow metal. There was little change in gold …

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• 16 June 2021 2:23 pm

  What to Expect From the FOMC Today

  

  The FOMC meeting will be the main event for the market today. We don’t expect the Fed to send any significant new policy signals, but now updated forecasts will likely show a first rate hike in 2023 and we may see the first comments from the Fed on Possible tapering …

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• 16 June 2021 1:46 pm

  German IFO Institute Cuts 2021 GDP Growth Forecast to 3.3%

  

  German IFO institute cut the country’s 2021 GDP growth forecast to 3.3% from 3.7% previous due to supply bottlenecks, the latest report showed on Wednesday. German current account surplus to shrink from 7% in 2020 to 5.8% in 2021 and 4.9% in 2022.

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• 16 June 2021 1:10 pm

  Oil Prices Rise as Demand Outlook Improves, US Inventories Fall

  

  Oil prices rose on Wednesday, June 16, while the price of Brent crude rose for the fifth consecutive session, as sentiment improved on the back of falling inventories and a recovery in demand after the Coronavirus pandemic. Brent crude rose 47 cents, or 0.6%, to $ 74.46 a barrel, the …

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