Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 19 May 2021 4:44 am

  Markets Await Signals for Policy Direction in Fed’s Meeting Minutes

  

  Markets are anticipating the release of the United States Federal Reserve’s minutes of its April meeting, due to be released on Wednesday. The meeting minutes are expect to publicly show some signs that there was a discussion among the monetary policy maker on whether the central bank should raise interest …

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• 19 May 2021 1:50 am

  Wall Street Closes Lower as Inflation Fears Persist

  

  The New York Stock Exchange (NYSE) finished lower on Tuesday, as Wall Street continues to be impacted by investors’ concerns about the high inflation rates. The decline came despite the positive earnings reports by some blue-chip stocks, including Home Depot and Walmart. The Dow Jones Industrial Average lost 267.13 points, …

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• 19 May 2021 1:27 am

  Oil Closes Lower Amid Expectations for Rising Output

  

  Oil prices declined on Tuesday, as media reports pointed to expectations of a rise in output as talks continue regarding the Iran nuclear deal. In addition, data by the American Petroleum Institute (API) estimated that crude oil inventories in the United States rose by 620,000 barrels last week. Gasoline inventories …

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• 19 May 2021 12:56 am

  Gold Settles Higher as the USD Declines Across the Board

  

  Gold prices rose on Tuesday, registering gains for the fourth consecutive session, as the U.S. Dollar (USD) continued to decline against major peers. In addition, the rising consumer inflation in the United States leading to mixed expectations for the interest rates also increased the demand for safe-haven assets. After trading …

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• 19 May 2021 12:31 am

  Yellen Calls Upon Business Leaders to Support Government Efforts

  

  The United States Secretary of the Treasury, Janet Yellen, is calling for higher tax rates, urging business leaders to pay their fair share amid increased government spending on stimulus and economic relief packages to stimulate the economic recovery from the coronavirus pandemic. Yellen said in her speech to the U.S. …

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• 19 May 2021 12:01 am

  European Stocks Finish Higher Despite Recession

  

  European stocks finished higher on Tuesday, as markets attempt to recover from the recent losses that resulted from concerns about the surge in inflation in the United States. The STOXX Europe 600 index closed higher by 0.28% at 443.55 points, with the travel and leisure sector recovering some of its …

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• 18 May 2021 9:10 pm

  Canadian Exporters Foresee More Gains for CAD

  

  The Canadian market is seeing increasing expectations that the Canadian Dollar (CAD) will maintain its recent against the U.S. Dollar (USD), which is prompting more exporters to adjust their currency hedges, according to a recent report by Bloomberg. Since the beginning of 2021, the loonie gained about 6% against its …

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• 18 May 2021 7:48 pm

  Lagarde: ECB Committed to Protecting Europe’s Economy

  

  The European Central Bank (ECB) President, Christine Lagarde, said on Tuesday that the economic recovery in the Eurozone remains challenged by uncertainty, which requires continuous support from market authorities. Lagarde believes it is essential that the “monetary and fiscal support are not withdrawn too soon,” ruling out expectations of reducing …

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• 18 May 2021 7:15 pm

  USD Maintains Negative Trend for the Third Day

  

  The U.S. Dollar (USD) maintained a negative performance on Tuesday, failing to recover his recent losses against major peers for the third consecutive session as Treasury bond yields stalled. Federal Reserve officials, including Robert Kaplan and Richard Clarida, recently reiterated the message that the central bank does not expect to …

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• 18 May 2021 6:11 pm

  European Stocks Recorded New Highs

  

  European stocks made new highs after the pandemic, and cyclical heavy national indices benefited from the gradual shift in global investor preferences for value overgrowth. The German DAX also hit an all-time high as the country’s Constitutional Court effectively drew a line under the euro critics’ attempts to halt the …

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• 18 May 2021 4:57 pm

  US: Housing Starts Decline in April

  

  Housing Starts in the US declined by 9.5% on a monthly basis in April following March’s sharp increase of 19.8% (revised from 19.4%), the data published jointly by the US Census Bureau and the US Department of Housing and Urban Development showed on Tuesday. Further details of the publication revealed that …

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• 18 May 2021 4:56 pm

  Gold Rallied After US Housing Data

  

  The price of gold rose today after the less-than-expected home building permits data. Homebuilding permits decreased to 1,760 million, compared to an expected 1,770 million. Housing Starts fell 9.5% in April. Gold is receiving from the increasing US dollar index its weakness, in light of weak US data, and expectations …

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• 18 May 2021 3:47 pm

  Dollar Near a Multi-Month Low as Expectations of Interest Rate Stabilization Grow

  

  The dollar fell to its lowest level in six years against the Canadian dollar and near its lowest level in several months against European currencies on Tuesday, as US Treasury yields stabilized amid renewed expectations that the United States will not raise interest rates soon. Robert Kaplan, head of the …

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