Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 30 June 2021 4:41 pm

  Canada: Real GDP Contracts by 0.3% in April

  

  Canada’s Real Gross Domestic Product (GDP) contracted at 0.3% in April, the data published by Statistics Canada showed on Wednesday. This reading came in better than the market expectation for a decrease of 0.8%. In March, the Canadian economy grew by 1.3%.

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• 30 June 2021 4:36 pm

  US: Private Sector Employment Rises by 692K in June

  

  Employment in the US’ private sector increased by 692,000 in June, the monthly data published by the Automatic Data Processing (ADP) Research Institute revealed on Wednesday. This reading followed May’s print of 886,000 (revised from 978,000) and surpassed the market expectation of 600,000.

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• 30 June 2021 3:22 pm

  OPEC+ to Discuss Extension of Oil Supply Deal Beyond April 2022

  

  The Organization of the Petroleum Exporting Countries (OPEC) and its allies, the group known as OPEC+, is expected to discuss a potential extension of the oil supply deal beyond April 2022 on Thursday, Reuters reported, citing two OPEC+ sources.

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• 30 June 2021 2:43 pm

  Reuters: An OPEC + Committee Expects an Imbalance in The Oil Market After April 2022

  

  According to a report seen by Reuters, an OPEC+ committee warned of “significant uncertainty” and the risk of a possible disruption to the global oil market after April 2022. The report also showed that the committee, known as the Joint Technical Committee, expects a surplus of oil by the end …

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• 30 June 2021 1:59 pm

  The Dollar Near Its Latest Peak as US Wage Data Awaits

  

  The dollar is set to record its best monthly gain since March on Wednesday, June 30, supported by traders’ concerns ahead of hard-to-predict US jobs data and concern that the delta strain of the Coronavirus will delay the recovery from the pandemic. The dollar gained about 2.5% against a basket …

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• 30 June 2021 1:53 pm

  Eurozone Preliminary CPI Eases to 1.9% YoY in June

  

  Eurozone’s annual CPI matched expectations at 1.9% but eased slightly for May as data showed on Wednesday from Eurostat. Core numbers also fell to 0.9% y/y in June versus 1.0% recorded in May. “Looking at the main components of euro area inflation, energy is expected to have the highest annual …

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• 30 June 2021 1:49 pm

  Japan Shares Close Lower And Incur Losses in June on Concerns About The Outlook

  

  Japanese stocks fell on Wednesday, June 30, as the highly contagious delta strain of the coronavirus spread in Asia, while the benchmark index suffered losses in June on worries about the economic outlook. The stock market ended the last trading day of the month with a loss for the tenth …

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• 30 June 2021 1:46 pm

  Gold on Record The Path of The Largest Monthly Decline in Nearly 5 Years

  

  Gold hovered around a two-month low on Wednesday, June 30, as investors awaited US jobs data for greater clarity on the US Federal Reserve’s stance on policy, while the yellow metal headed for its worst monthly decline since November 2016. And gold fell in spot transactions 0.2% to $ 1757.76 …

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• 30 June 2021 3:01 am

  When Should ECB Scale Back Asset Purchases?

  

  Germany’s Jens Weidmann, a member of the European Central Bank (ECB) board, believes that scaling back the massive stimulus needs to be step-by-step after reopening and achieving recovery. These are the two prerequisites for reducing the monetary easing policies, according to the governor of the Deutsche Bundesbank, who was speaking …

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• 30 June 2021 1:43 am

  EUR/USD Declines for Second Day in Row

  

  The Euro (EUR) declined on Tuesday as the U.S. Dollar (USD) rose across the board with Treasury bond yields rebounding ahead of the jobs data. The EUR/USD pair lost 0.21% to reach 1.1899, its biggest loss and lowest level since June 18. This is the second consecutive daily loss for …

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• 30 June 2021 1:19 am

  GBP/USD Closes at Lowest Level Since June 18

  

  The British Pound (GBP) resumed losses against a stronger U.S. Dollar (USD), with the latter rising on the back of a rebound by Treasury bond yields. In addition, the Sterling remains impacted by the uncertainty surrounding plans to reopen the U.K. despite concerns about the coronavirus Delta variant. Today, the …

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• 30 June 2021 12:34 am

  Wall Street Close with Modest Gains and New Records

  

  The New York Stock Exchange (NYSE) closed modestly higher on Tuesday, with the technology stocks leading the gains in Wall Street and investors awaiting economic data, especially the upcoming jobs report, to asses the possible impact on monetary policy and interest rates. The S&P 500 and the Nasdaq Composite continued …

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• 29 June 2021 11:14 pm

  Oil Settles Higher After Choppy Trading

  

  Oil prices fluctuated on Tuesday, recovering from losses before giving up some of its daily gains, but managed to close higher with markets anticipating the coming OPEC+ decision on production policy. Concerns over the rising number of coronavirus (COVID-19) cases in a number of countries continue to limit the effect …

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