Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2021

• 14 June 2021 10:55 pm

  EU Issues Bonds to Support Recovery Fund

  

  The European Union (EU) launched on Monday the sale of the first bond backing its massive COVID-19 recovery fund, Reuters reported. The aim is to provide the needed finances to member countries, providing aid in combating the pandemic. A 10-year bond represents the beginning of an expected EUR 800 billion …

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• 14 June 2021 10:16 pm

  Gold Closes Lower Despite Dollar’s Fluctuations

  

  Gold prices declined on Monday, opening the week with a negative performance as the downward trend continued despite the mixed performance by the U.S. Dollar (USD). This marked the second consecutive daily loss for the yellow metal most-active contracts, which settled at their lowest level since May 14, amid a …

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• 14 June 2021 10:08 pm

  European Stocks Maintain Gains Ahead of Fed Meeting

  

  European stocks closed higher on Monday, starting the week with a positive performance amid anticipation for the upcoming U.S. Federal Reserve meeting. The STOXX Europe surged by 0.25%, with oil stocks leading gains and adding 2%. The pan-European index recorded its fourth consecutive weekly rise last week. Meanwhile, the French …

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• 14 June 2021 7:54 pm

  U.S. Consumers Expect Economic Boom and Higher Inflation – NY Fed

  

  Consumers in the United States expect an economic boom in 2022, the results of the Federal Reserve Bank of New York’s monthly survey showed. The May survey results also showed higher expectations for inflation, home prices, earnings, and employment. Median expectations for inflation next year continued to rise for the …

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• 14 June 2021 6:00 pm

  Bitcoin Crosses $40,000 After Musk Says Tesla Could Trade it Back

  

  Bitcoin surged above $40,000 on Monday, after fresh swings over the weekend following tweets from Tesla CEO Elon Musk, who responded to criticism over his impact on the market and said that Tesla has sold its bitcoins but may resume trading with it. Bitcoin has wobbled at Musk’s views for …

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• 14 June 2021 4:44 pm

  Canada: Manufacturing Sales Decline by 2.1% in April

  

  Manufacturing Sales in Canada declined by 2.1% on a monthly basis in April, the data published by Statistics Canada revealed on Monday. This reading came in worse than the market expectation for a decrease of 1%.

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• 14 June 2021 4:17 pm

  Novavax Says Its Vaccine is 90% Effective Against Coronavirus

  

  Biotech company Novavax said today that its COVID-19 vaccine has been shown to be 90.4% safe and effective overall in phase 3 clinical trials for nearly 30,000 participants across the United States and Mexico. Also, it was found that the two-dose vaccine is 100% effective in preventing moderate and severe …

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• 14 June 2021 3:20 pm

  Turkish Lira Rises Before The Meeting of The Turkish And U.S Presidents

  

  The Turkish lira rose about 0.6% against the US dollar on Monday, ahead of a meeting between the presidents of the United States and Turkey hoping to ease tensions in diplomatic relations. The lira settled at 8.34 per dollar as European markets opened, after closing at 8.4010 on Friday. The …

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• 14 June 2021 2:42 pm

  Eurozone Industrial Production Grew Better Than Expected in April

  

  Today’s data showed that industrial production for the Eurozone exceeded expectations in April thanks to a more than doubled production of durable consumer goods compared to the previous year after economies reopened steadily. The European Union statistics office Eurostat said industrial production in the 19-country Eurozone rose 0.8% month-on-month and …

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• 14 June 2021 1:46 pm

  The Dollar Rises in an Important Week For The Markets

  

  The dollar maintained its gains today, after recording the largest weekly gain in six weeks, as traders cut bets on the currency’s decline ahead of the upcoming Federal Reserve meeting, which may indicate future changes in US monetary policy. The US central bank begins a two-day policy committee meeting tomorrow, …

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• 14 June 2021 1:12 pm

  Oil Rises With Improved Expectations of Demand And Tight Supplies

  

  Oil prices rose today, continuing the gains that lasted over three weeks, thanks to improved expectations for fuel demand, as Covid-19 vaccinations contributed to lifting travel restrictions, as well as tight supplies. Brent crude rose 51 cents, or 0.7%, to $73.20 a barrel, the highest level since May 2019. West …

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• 14 June 2021 12:27 pm

  Japanese Stocks Rise on Toshiba Crisis

  

  Japanese shares rose on Monday as cyclical stocks such as tire makers rose, while Toshiba advanced after the company announced that two board members would be retiring amid a crisis over its governance. The Nikkei index rose 0.74% to 2,9161.80, its highest closing level since May 10. The broader Topix …

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• 14 June 2021 4:29 am

  Weekly Recap: 7-11 June

  

  It was a week full of data, from the European Central Bank to US inflation figures and Lagarde comments. Here are the week’s highlights and data. Last week’s session observed the US dollar abandon its two-week indecisive phase and establish moderate gains. Gold ended weekly trading in an upward trend, …

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