Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 10 February 2021 10:24 pm

  Cryptocurrencies Rally is Speculative Mania: BoC Deputy Governor

  

  The Deputy Governor of the Bank of Canada (BoC), Tim Lane, said on Wednesday that cryptocurrencies such as Bitcoin are a flawed payment method, Bloomberg reported. Lane also pointed to the costly verification methods and the digital currencies’ unstable purchasing power. “Our view remains unchanged, a digital currency is by …

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• 10 February 2021 9:59 pm

  Germany to Extend Lockdown Measures until Mid-March

  

  The German government plans to extend the lockdown until March 14, amid increased concerns about the new variants of the Coronavirus. Chancellor Angela Merkel is reportedly set to officially announce the new measures, urging citizens in Germany to maintain social distancing as a precaution against the virus. The lockdown was …

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• 10 February 2021 9:50 pm

  European Stocks Close Lower

  

  European stocks closed lower on Wednesday, as the earnings reports season continues across the markets. The STOXX Europe 600 index declined by 0.23%, as most of the market sectors closed in red. The French CAC40 index fell by 0.36%, while the German DAX plunged by 0.56%. Meanwhile, the UK’s FTSE100 …

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• 10 February 2021 9:19 pm

  Dollar Narrows Its Losses After Inflation Data

  

  The U.S. Dollar (USD) declined on Wednesday, following the release of the January inflation data that showed that the Consumer Price Index (CPI) declined to 0.3% on a monthly basis last month, while the core CPI decreased to 1.4% from 1.6% in December. The Dollar Index (DXY), which measures the …

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• 10 February 2021 8:12 pm

  U.S. Oil Inventories Down 6.6 M Barrels in Week

  

  Commercial crude oil inventories in the United States decreased by 6.6 million barrels last week, data showed on Wednesday. Oil stockpiles in the U.S. stood at 469.0 million barrels in the week ending February 5, according to the weekly report of the U.S. Energy Information Administration (EIA). “U.S. crude oil …

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• 10 February 2021 7:27 pm

  U.S. Wholesale Inventories Rise in December

  

  Wholesale inventories in the United States increased by 0.3% last December, compared with their level in November, data showed on Wednesday. According to the U.S. Department of Commerce’s Census Bureau, the seasonally adjusted wholesale inventories reached $651.5 billion by the end of December 2020. On an annual basis, inventories declined …

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• 10 February 2021 5:35 pm

  US: Annual Core CPI Edges lower to 1.4% in January

  

  Inflation in the US, as measured by the Consumer Price Index (CPI), declined to 0.3% on a monthly basis in January, the data published by the US Bureau of Labor Statistics showed on Wednesday. On a yearly basis, the CPI stayed unchanged at 1.4%. the Core CPI, which excludes food …

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• 10 February 2021 5:08 pm

  UK PM Johnson: We Have to Get Used to Idea of Revaccinating

  

  British Prime Minister Boris Johnson said on Wednesday that they are going to have to get used to the idea of revaccinating, as reported by Reuters. “The border policy is measured, proportionate and getting tougher next week,” Johnson said.

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• 10 February 2021 4:09 pm

  Iraq’s Oil Minister: OPEC+ to Keep Output Policy Unchanged at Next Meeting

  

  Iraq Oil Minister HE Ihsan Abdul Jabbar Ismaael said on Wednesday that Iraq’s oil exports should average around 2.9 million barrels per day in February, as reported by Reuters. Ismaael added that he expects Brent prices ranging between $58 and $63 and noted that he doesn’t expect OPEC+ to make …

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• 10 February 2021 3:25 pm

  European Stocks on Positive Side on SocGen Earnings Report

  

  European stocks rose during trading on Wednesday on upbeat quarterly earnings reports from companies including SocGen helped boost optimism about a faster vaccine-led economic recovery this year. The STOXX 600 rose 0.3%, with commodity-related and banking stocks leading the gains. Most of the European indices were higher in early trade. …

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• 10 February 2021 2:35 pm

  Gold Rises on Dollar Faltering And Stimulus Hopes

  

  Gold rose on Wednesday, February 10, hovering near the peak of a week that it reached in the previous session, as the attractiveness of the yellow metal increased as a hedge against inflation after the dollar fell and hopes for a US stimulus package increased. And gold rose in spot …

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• 10 February 2021 1:45 pm

  Germany: Inflation Rate at Its Highest Level in 7 Months

  

  Germany recorded an annual inflation rate of 1% in January 2021, in line with preliminary estimates. For January, the annual rate of inflation accelerated from -0.3% to 1.0%, which was also in line with prelim figures. In both November and in December consumer prices had fallen by 0.3% year-on-year. consumer …

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• 10 February 2021 1:23 pm

  EIA Reduces Its Forecast For Global Oil Demand Growth in 2021

  

  The US Energy Information Administration, on Tuesday, February 9th, reduced its forecast for global oil demand growth in 2021 by 180,000 barrels per day to 5.38 million barrels per day. In its monthly forecast, the administration raised its estimate of oil demand growth in 2022 by 190,000 barrels per day …

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