Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 29 January 2021 4:54 pm

  Reuters Survey: OPEC Oil Production Rose in January For 7th Month in a Row

  

  A Reuters survey concluded that OPEC oil production increased for a seventh month in January after the organization and its allies agreed to further ease record restrictions on supplies, but an involuntary drop in Nigeria’s exports limited the increase. The survey revealed that the 13 member states of the Organization …

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• 29 January 2021 3:58 pm

  Turkish Tourism Revenues Fall 65% in 2020

  

  Data from the Turkish Statistical Institute showed that the country’s tourism revenues in 2020 decreased by 65.1% to 12.059 billion dollars, showing the impact of the widespread travel restrictions imposed due to the emerging coronavirus pandemic. The data also revealed that tourism revenues in the fourth quarter of last year …

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• 29 January 2021 3:55 pm

  WTI Settles Above $ 52

  

  WTI settled unchanged this week, with futures settling above $52 a barrel, but below an 11-month high that touched it earlier in the month, as worries about fuel demand overshadowed lower global supplies. Earlier in January, OPEC+ announced production cuts through the first quarter of 2021, Saudi Arabia engaged in …

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• 29 January 2021 3:19 pm

  BofA: The Scramble to Buy Stocks Continues on Retail Fever

  

  Data for the weekly flows of Bank of America showed that investor money continued to flow at unprecedented levels on stocks last week in light of the retail trading fever, which saw GameStop shares rise more than 2500% since the beginning of the year so far for some time. In …

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• 29 January 2021 2:06 pm

  Currencies Overview: US Dollar is Winning as Investor Confidence Has Been Shaken by Retail Trading

  

  The dollar won and risk-sensitive currencies fell, after an attack on indebted stocks by hedge funds in the United States dampened investor confidence and boosted demand for safe-haven currencies. Movements in the foreign exchange markets were moderate, as the dollar is still near trading levels it recorded in recent times, …

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• 29 January 2021 1:14 pm

  German Preliminary GDP Expands 0.1% in Q4

  

  The German economy grew 0.1% inter-quarter in Q4 of 2020 with the expectation of 0% and 8.5% seen in Q3, the preliminary report published by Destatis revealed on Friday. Meanwhile, the GDP yearly rate fell by 3.9% in Q4 against the previous reading of -4% and beat market expectations of …

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• 29 January 2021 1:05 pm

  Japan Stocks Drop on Month-End Selling

  

  Japanese stocks fell for a second session, giving up early gains, as sales to investors to take profits and rebalance positions at the end of the month overshadowed a batch of technology companies that announced positive profits. Investors are growing concerned about more market turmoil as retail frenzy boosts market …

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• 29 January 2021 12:59 pm

  Turkey’s Trade Deficit Widened 16% to $ 4.5 Billion in December

  

  Data from the Turkish Statistics Institute showed that the country’s foreign trade deficit rose 16% year-on-year in December to $ 4.53 billion according to the general trade system, bringing the 2020 deficit as a whole to nearly $ 50 billion. The institute said Turkey’s exports fell 6.3% last month, and …

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• 29 January 2021 12:58 pm

  Gold Closes Lower for the Sixth Day in Row

  

  Gold prices are trading in a narrow range today, Friday, but prices are on the path of recording a weekly and monthly decline as the high dollar dispels the lustre of the yellow metal. Spot gold rose 0.2 $ to 1844.86 dollars an ounce. Prices fell 0.5% in the week …

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• 29 January 2021 11:36 am

  France’s economy contracted less than expected in the fourth quarter of 2020

  

  Official data published today showed that France’s economy contracted again in the fourth quarter of last year, but not to the extent expected after facing a second wave of isolation measures aimed at combating the spread of the Corona virus. The National Institute for Statistics and Economic Studies said that …

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• 29 January 2021 10:43 am

  Oil Stable as supply cuts offest concerns

  

  Oil prices stabilized, to remain in the ranges recorded over the past three weeks, at a time when investors looked for indications of a change in the fundamental factors of supply and demand. A Saudi cut in oil supplies and a decline in crude stocks in the United States contributes …

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• 29 January 2021 12:46 am

  Democrats Ready to Begin Work on Passing Rescue Plan

  

  The U.S. Congress is expected to start procedures to pass the huge stimulus package proposed by President Joe Biden next week, Reuters reported citing leaders in the Democratic party. Both Senate Majority Leader Chuck Schumer and House Speaker Nancy Pelosi pointed to work on passing what the administration is calling …

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• 29 January 2021 12:28 am

  Oil Prices Settle Lower on Coronavirus and Demand Recovery Concerns

  

  Oil prices declined on Thursday due to rising concerns about the resurgence of the Coronavirus pandemic in many countries around the world. The rise in new cases of the novel virus are leading to worries about the recovery of the global market demand. A surprise bigger than expected decline in …

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