Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2021

• 1 July 2021 2:56 am

  Fed’s Kaplan Supports Smooth Tapering Soon

  

  President of the Federal Reserve Bank of Dallas, Robert Kaplan, hopes tapering could begin soon, telling Bloomberg on Wednesday that the reducing asset purchases will be smooth and not shock the market. “I want it to get out into the market, and I think this debate we’re having at the …

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• 1 July 2021 2:42 am

  Ford to Shut Down North American Plans Due to Semiconductors Shortage

  

  Ford Motor plans to shut down several of its factories in North America due to the global shortage of semiconductors. The closure will take place for a few weeks over the course of July and August. The supply disruption might cost the company as much as $2.5 billion this year, …

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• 1 July 2021 2:33 am

  S&P 500 Hits New Record High with Best Performance Since 1998

  

  The main indices of the New York Stock Exchange (NYSE) continued to show a mostly strong performance on Wednesday, with the S&P 500 index registering its 34th record close this year, and while the Nasdaq declined and failed to continue to the record breaking activity, the Dow Jones came close …

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• 1 July 2021 1:06 am

  USD Scores Large Gains Following ADP Employment Report

  

  The U.S. Dollar (USD) rose on Wednesday to its highest level in about two and a half months to score large monthly gains against major peers. The greenback in June registered its biggest rise since November 2016, rising by about 3%. The Dollar Index (DXY), which measures the USD’s performance …

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• 1 July 2021 12:05 am

  Oil Settles Higher Following Inventory Data

  

  Oil prices finished higher on Wednesday, after data showed that U.S. crude inventories declined for the sixth consecutive week. Markets are anticipating the decision by members of the Organization of the Petroleum Exporting Countries (OPEC) and its OPEC+ allies on output curbs. Brent crude futures for September delivery gained 34 …

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June, 2021

• 30 June 2021 11:39 pm

  Gold Futures Fall for the Month to Limit Quarterly Gains

  

  Gold prices rose on Wednesday, amid the U.S. Dollar (USD) decline across the board, but showed a varied performance on the monthly and quarterly levels. The yellow metal’s front month contract for July delivery added $8.00, or 0.45%, to settle at $1,770.80 per ounce. This marked the biggest daily gain …

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• 30 June 2021 10:22 pm

  European Stocks Maintain Monthly and Quarterly Gains

  

  European stocks closed lower on Wednesday, amid concerns about the rising number of coronavirus cases, especially of the Delta variant, as well as reflation fears. The STOXX Europe 600 index lost 3.53 points, or 0.77%, and closed at 452.84 points. This market the biggest daily loss for the pan-European index …

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• 30 June 2021 9:40 pm

  Chicago PMI Hits Four-Month Low in June

  

  The Chicago Business Barometer Index declined in June to 66.1 from 75.2 in May, hitting a four-month low, data showed on Friday. During the second quarter (Q2) of the year, the Purchasing Manager Index (PMI) rose by 7.9 points to 71.1, according to ISM-Chicago. This marked the highest quarterly reading …

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• 30 June 2021 8:30 pm

  U.S. Oil Inventories Down for Sixth Straight Week

  

  Crude oil inventories in the United States declined last week for the sixth consecutive week, according to official data. The U.S. Energy Information Administration (EIA) on Wednesday reported that crude inventories fell by 6.7 million barrels in the week to June 25. The drop in oil inventories exceeded most market …

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• 30 June 2021 7:17 pm

  U.S. Pending Home Sales Surge in May

  

  U.S. pending home sales increased last month to its highest level since 2005, data showed on Wednesday. The Pending Home Sales Index rose by 8.0% in May to 114.7, according to data by the National Association of Realtors. The surge in the gauge of contracts signed last month came against …

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• 30 June 2021 7:04 pm

  U.S. Private Payrolls Rise More than Expected

  

  U.S. private payrolls rose more than expected during June, with businesses filling more vacancies to increase production amid demand recovery with the economy reopening, data showed on Wednesday. Private payrolls increased by 692,000 jobs this month, compared with May’s reading of 886,000, which was revised downwards from an initially estimated …

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• 30 June 2021 6:03 pm

  Turkish Lira Rises Despite Positive US Data

  

  Despite the positive US data on the labor market, and the advance of the US dollar index, the Turkish lira managed to rise strongly against the dollar after days of decline. The data released today also indicates that the trade balance deficit widened on an annual basis by 20.2% during …

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• 30 June 2021 5:13 pm

  The European Union Adds 11 Countries to Its List of Safe Travel, Including Saudi Arabia And Jordan

  

  Diplomats said EU governments have agreed to add 11 countries, including Saudi Arabia, Jordan and Qatar, to their list of countries that will allow non-essential travel from them. The ambassadors of the twenty-seven countries of the Union agreed to add these countries in today’s meeting, with the decision to take …

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