Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2021

• 17 May 2021 12:11 pm

  Canada’s Home Sales Down 12.5% in April

  

  Home sales in Canada declined by 12.5% last month, according to data released by the Canadian Real Estate Association (CREA) on Monday. Meanwhile, the average selling price decreased by 2.9% in April on a monthly basis, reaching CAD 696,000. On the other hand, the average selling price rose by 41.9% …

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• 17 May 2021 10:31 am

  Oil in a Limited Range And COVID-19 Restrictions in Asia Affecting Sentiment

  

  Oil prices moved within a limited range today, Monday, after concerns about supplies subsided to support the recovery of a major US pipeline network, but the imposition of new restrictions in Asia amid the escalation of Covid-19 cases affected sentiment. The gasoline shortage plaguing the east coast of the United …

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• 17 May 2021 10:15 am

  China’s Factory Output Slows And Retail Sales Below Expectations

  

  Chinese factory production growth slowed in April from the jump in the previous month, while retail sales fell below analysts’ expectations, indicating that the recovery in consumption is coming under more pressure. Data from the National Bureau of Statistics on Monday showed that industrial production grew 9.8% in April compared …

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• 15 May 2021 3:38 pm

  Weekly Recap: 10-14 May

  

  A surge in the consumer price index (CPI) in the United States, the highest for the inflation rate in more than 12 years, was the highlight of the second week of May, as it raised question markets about whether the Federal Reserve would consider raising interest rates sooner than previously …

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• 15 May 2021 1:25 am

  Oil Recovers Recent Losses as U.S. Pipeline Reopens

  

  Oil prices finished higher on Friday, managing to register their third consecutive weekly rise. A recent downstream disruption in the United States that resulted from an attack on the Colonial Pipeline, which led to fears about a drop in the demand for crude oil by refineries, appears to be at …

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• 15 May 2021 12:20 am

  Gold Rises on Dollar Woes and Records Second Weekly Rise

  

  Gold prices rose on Friday, as the U.S. Dollar (USD) declined, further increasing their second consecutive weekly gains. The yellow metal futures managed to finish the week at their best level in about three months. It is worth noting that a recent surge in Treasury bond yields, due to fears …

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• 14 May 2021 10:27 pm

  U.S. Dollar Returns to Downward Trend

  

  The U.S. Dollar (USD) declined on Friday, returning to its downward trend after rising for two consecutive sessions, as Treasury bond yields fell. A surge in inflation, the biggest in more than a dozen years, prompted a decline in the yields of long-term debt instruments and led to varied expectations …

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• 14 May 2021 9:45 pm

  European Stocks Rebound to Limit Weekly Losses

  

  European stocks surged on Friday, strongly rebounding from recent losses that resulted from a sell-off wave, as fears about the rise in the U.S. inflation rate eased. The STOXX Europe 600 index gained 1.2% to finish at 442.55 points, but remained down for the week by about 0.5%. The auto …

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• 14 May 2021 9:00 pm

  U.S. Rig Count Rises This Week – Baker Hughes

  

  The number of active rigs drilling for crude oil and natural gas in the United States rose by five to 453 this week, according to data by Baker Hughes on Friday. The weekly report indicated that the oil rig count increased by eight to 352 this week, as natural gas …

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• 14 May 2021 7:25 pm

  U.S. Consumer Sentiment Tumbles on Rising Inflation

  

  Consumer confidence the United States declined in the early days of the month due to the rise in the inflation rate, according to data by the University of Michigan released on Friday. The Consumer Sentiment Index rose decreased by 6.2% to 82.8 from 88.3 in April, but rose by 14.5% …

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• 14 May 2021 6:28 pm

  U.S. Business Inventories Rise in March

  

  Business inventories in the United States increased during March, official data by the Department of Commerce showed on Friday. The increase in inventories in March was relatively limited due to raw materials shortage that impacted production across some sectors. In March, business inventories leveled up by 0.3% with the reading …

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• 14 May 2021 6:18 pm

  U.S: Industrial Production Expands in April

  

  Industrial Production in the United States expanded by 0.7% on a monthly basis in April, the US Federal Reserve reported on Friday. This reading followed March’s increase of 2.4% (revised from 1.4%) and fell short of analysts’ estimate of 1%.

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• 14 May 2021 5:40 pm

  Canada: Manufacturing Sales Rise by 3.5% in March

  

  Manufacturing Sales in Canada increased by 3.5% to the highest level since June 2019 at $57.8 billion in March, the data published by Statistics Canada revealed on Friday. This reading came in line with the market expectation. “The capacity utilization rate (not seasonally adjusted) for the total manufacturing sector increased …

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