Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 20 May 2021 6:44 pm

  German Producer Prices Surge 5.2% in April

  

  Producer prices in Germany surged in April by 5.2% on an annual basis, official data showed on Thursday. Recent supply disruptions are leading to rising inflation pressure, following a 3.7% increase in producer prices in March, according to the Federal Statistical Office of Germany. On a monthly basis, producer prices …

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• 20 May 2021 5:51 pm

  U.S. Jobless Claims at Lowest Level Since Pandemic Began

  

  Applications for new claims of unemployment benefits in the United States declined below 500,000 last week, data showed on Thursday. The initial claims for state unemployment benefits decreased by 34,000 to a seasonally adjusted 444,000 for the week ended May 15, according to the U.S. Department of Labor. This marked …

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• 20 May 2021 4:18 am

  U.S. Bank Regulator Warns Against Overconfidence Following Pandemic

  

  The new leader of the Office of the Comptroller of the Currency (OCC), an independent bureau within the United States Department of the Treasury, has warned against overconfidence in the banking sector, calling for caution. Michael Hsu, pointed to the recent Archegos Capital fund crisis, which negatively impacted a number …

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• 20 May 2021 4:00 am

  ECB Warns Against Post-Pandemic Zombie Companies Challenge

  

  The Financial Stability Review by the European Central Bank (ECB) showed on Wednesday that the low interest rates are adding to the challenge of zombie companies, noting that recovery will reveal the extent of the problem. According to the report, risks of financial stability are increasing in Europe, especially with …

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• 20 May 2021 2:45 am

  NYSE Closes Lower Following Fed’s Meeting Minutes

  

  The main indices of the New York Stock Exchange (NYSE) finished lower on Wednesday, following the release of the United States Federal Reserve’s April meeting minutes, which showed an intention to discuss the future of the large asset purchases in upcoming meetings. Recent mixed economic data and the Fed’s remarks …

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• 20 May 2021 2:28 am

  Gold Futures Log Another Daily Rise to Four-Month High

  

  Gold prices increased on Wednesday, extending their gains to reach a fresh level that is the highest in four months, and logging its fifth consecutive daily rise. The yellow metal gains come before the release of the United States Federal Reserve’s April meeting minutes. Gold is gaining ground on the …

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• 20 May 2021 1:03 am

  Dollar Nears First Rise After Three Declines

  

  The U.S. Dollar (USD) leveled up on Wednesday, to near logging its first daily rise in four sessions, after the release of the Federal Reserve’s April meeting minutes. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up by 0.48% at …

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• 19 May 2021 11:13 pm

  Fed Meeting Minutes Show Varied Opinions Despite Unanimous Vote

  

  Minutes of the United States Federal Reserve’s April meeting showed that a number of monetary policy makers are beginning to contemplate the idea of changing the current easing policies, amid signs of economic recovery. “A number of participants suggested that if the economy continued to make rapid progress” toward the …

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• 19 May 2021 10:23 pm

  Steep Declines for Cryptocurrencies Signal Correction Wave

  

  Cryptocurrencies are witnessing a correction wave with continuous declines, following recent surges to new record highs. Bitcoin is extending its losses, with the largest digital currency in terms of market capitalization, down by about 11% over the past 24 hours, trading near $38,300, extending its losses over the past seven …

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• 19 May 2021 9:00 pm

  Oil Trading Lower as EIA Report Show Unexpected Rise in U.S. Inventories

  

  Oil prices fell on Wednesday, following the release of the weekly inventories report from the United States Energy Information Administration (EIA). Data by the EIA showed an increase in U.S. crude stockpile, which prompted a decline in oil prices to their lowest level in roughly three weeks, despite the decline …

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• 19 May 2021 8:06 pm

  Gold Near Highest Level in Four Months

  

  Gold prices rose on Wednesday, recovering from earlier losses on the back of a decline in the U.S. Dollar (USD) nearing its fifth consecutive daily rise. The yellow metal futures remain near their highest level in about four months ahead of the release of the U.S. Federal Reserve’s April meeting …

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• 19 May 2021 5:01 pm

  Canada: Annual CPI jumps to 3.4% in April

  

  Annual inflation in Canada, as measured by the Consumer Price Index (CPI), rose to 3.4% in April from 2.2% in March, the data published by Statistics Canada revealed on Wednesday. This reading came in higher than the market expectation of 3.2%. On a monthly basis, the CPI arrived at 0.5% …

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• 19 May 2021 3:42 pm

  Eurozone Inflation Rose 0.6% in April

  

  European Union statistics office Eurostat said inflation in the eurozone accelerated in April due to a sharp increase in energy and service costs. Eurostat said that consumer prices in 19 countries that deal in the euro rose 0.6% on a monthly basis, and recorded an annual increase of 1.6%, up …

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