Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 19 February 2021 5:05 pm

  Goldman Expects Limited Impact on Price of Oil Due to The Freezing Weather in Texas

  

  Goldman Sachs said in a note that a wave of freezing weather in Texas caused blackouts and disruptions to refineries and pipelines that would have a limited and only temporary impact on the global oil market. Oil prices fell by up to 2% on Friday, due to fears that the …

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• 19 February 2021 5:01 pm

  UK: CBI Manufacturing Order Book Balance Improves to -24 in February

  

  The data from the UK showed on Friday that the CBI’s Manufacturing Order Book Balance rose to -24 in February from -38 in January and surpassed the market expectation of -35.  Furthermore, the Manufacturing Output Expectations Balance jumped to -2 from -24 in January.

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• 19 February 2021 5:00 pm

  Eurozone Current Account Surplus Increased in December

  

  European Central Bank data showed that the eurozone’s current account surplus widened in December due to a higher trade surplus and a larger contraction of the secondary income deficit, which includes outflows such as remittances and taxes. The 19-nation bloc, which deals in euros, recorded a current account surplus of …

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• 19 February 2021 4:58 pm

  Bitcoin Reaches New Highs And Its Market Value Close to a Trillion Dollars

  

  Bitcoin hit a new record high on Friday and is moving towards achieving a market value of $ 1 trillion, ignoring analysts’ warnings that it constitutes an “economic sideways supply” and a flimsy hedge against falling stock prices. The value of the most popular cryptocurrency in the world jumped 2.6% …

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• 19 February 2021 3:13 pm

  Oil Falling as Investors Evaluate The Impact of Severe Cold on US Refineries

  

  Oil prices fell by more than 1% today, Friday, to continue declines recorded overnight, due to fears that refineries will take time to resume operations after a wave of freezing weather in the American South, causing a gap in demand, while OPEC+ supplies are expected to rise. Brent crude futures …

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• 19 February 2021 2:44 pm

  German Services Sector Records Its Biggest Contraction in 9 Months

  

  The preliminary reading for service PMI in Germany showed a drop to 45.9 in February 2021 versus 46.7 last and below expectations of 46.5. Soft figures indicated the fastest decline in service production since May of last year, As isolation measures due to Coronavirus continue to weigh on service activity

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• 19 February 2021 2:38 pm

  German Preliminary Manufacturing PMI Came at 60.6 in Feb

  

  The German manufacturing sector expanded more-than-expected in February, the preliminary manufacturing activity report from IHS/Markit research showed this Friday. The Manufacturing PMI in Eurozone’s economic power house came in 60.6 at this month vs. 56.5 expected and 57.1 prior.

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• 19 February 2021 2:37 pm

  UK Retail Sales Miss Estimates With 8.2% MoM in January

  

  The UK retail sales came in at -8.2% over the month in January vs. -2.5% expected and 0.3% last. The core retail sales, excluding the auto motor fuel sales, stood at -8.8% MoM vs. -2.6% expected and 0.4% last. On an annualized basis, the UK retail sales dropped by 5.9% …

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• 19 February 2021 2:24 pm

  Eurozone Preliminary Manufacturing PMI Arrives at 57.7 in Feb

  

  The Eurozone manufacturing sector activity improved more-than-expected this month, the latest manufacturing activity survey from IHS/Markit research showed on Friday. The Eurozone Manufacturing purchasing managers index (PMI) improved from 54.8 in January to 57.7 in February and beat 54.4 expectations while the Services PMI dropped to 44.7 in Feb vs. …

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• 19 February 2021 1:45 pm

  European Shares Rise on Positive Earnings From Hermes

  

  European stocks rose as a positive earnings report from Hermes bolstered confidence in a broader economic recovery, but the benchmark STOXX is set to end a two-week winning streak on concerns about rising inflation. The European index rose 0.1%, while Hermes shares jumped 5.7%, as the manufacturer of Birkin bags …

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• 19 February 2021 1:03 pm

  Gold is at Lowest Level in More Than 7 Months as US Yields Rise

  

  Gold recouped some of its losses after falling to its lowest levels in more than seven months, but it remains on the path of recording its worst weekly performance since the end of November, as the attractiveness of the yellow metal, which does not yield a return, has decreased due …

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• 19 February 2021 12:31 pm

  Nikkei Index Falls on Profit-Taking But Makes weekly Gains

  

  Japan’s Nikkei index fell on Friday, as the pre-weekend profit-taking sell-off outperformed optimism about a general economic recovery, but the index gained for the third week in a row. The Nikkei fell 0.72% to 30,017.92 points, further moving away from its 30-year-and-a-half high of 30,714.52 points it touched on Monday. …

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• 19 February 2021 2:34 am

  NYSE Indices Close in Red on Negative Data

  

  The main indices of the New York Stock Exchange (NYSE) closed lower on Thursday, amid a mixed performance by the Treasury bond yields that remained at high levels. In addition, negative economic data led to a negative sentiment regarding the pace of economic recovery from the impacts of the Coronavirus …

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