Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 27 February 2021 2:00 am

  Oil Prices Close Lower but Score Monthly Gains

  

  Oil prices declined on Friday, amid a rise by the U.S. Dollar (USD) and expectations for deciding on an increase in output during the upcoming OPEC+ summit. Brent crude futures for April delivery declined by 75 cents, or 1.1%, to close at $66.13 per barrel, while May futures plunged by …

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• 27 February 2021 1:23 am

  Gold Registers Worst Monthly Losses since 2016

  

  Gold prices declined on Friday, falling for the fourth consecutive session, extending their weekly and monthly losses amid a rise in treasury yields. The yellow metal futures for April delivery closed lower by $46.60, or 2.6%, at $1,728.80 per ounce, finishing at their lowest level since June 2020. For the …

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• 27 February 2021 12:48 am

  U.S. Oil Rigs Rise by Four in Week

  

  The number of active rigs drilling for oil in the United States increased by four to 309 this week, according to data by Baker Hughes released on Friday. Natural gas rigs rose by one rig, with the total rig count increasing by five to 402. Last week, oil rigs recorded …

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• 27 February 2021 12:42 am

  European Stocks End Week Lower Decreasing Monthly Rise

  

  European stocks closed lower on Friday, extending their weekly losses, amid a rise in treasury yields. The STOXX Europe 600 index declined by 1.72% to finish the week at 404.64 points, declining by 2.5% on a weekly basis. On the monthly level, the pan-European index gained 2.2%. The French CAC40 …

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• 26 February 2021 10:00 pm

  Unemployment in Brazil Continues to Decline

  

  The unemployment rate in Brazil declined by the end of 2020, reaching 13.9%, official data showed on Friday. More workers in Brazil are returning to the job market, as the economy recovers from the impact of the Coronavirus impact. Nevertheless, the average unemployment rate of last year reached the highest …

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• 26 February 2021 9:00 pm

  U.S. Retail Sales Expected to Grow by 6.5-8.2%

  

  The National Retail Federation (NRF) expects retail sales in the United States to grow by a rate of 6.5% to 8.2% this year, exceeding $4.33 trillion in volume. The expectation comes as the American economy is recovering from the impact of the Coronavirus pandemic, with the rollout of vaccines set …

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• 26 February 2021 8:13 pm

  USD Continues to Rise on Positive Data

  

  The U.S. Dollar (USD) continued to rise on Friday, supported by positive economic data that signaled an improvement in consumer spending. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies, is up for the day by 0.48% at 90.57. The index has …

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• 26 February 2021 7:37 pm

  Chicago PMI Declines in February

  

  The Chicago Purchasing Managers’ Index (PMI) declined to 59.5 in February from 63.8 in January, data by ISM-Chicago showed on Friday. Despite the decline, it is worth noting that for the index a reading above 50 indicates the expansion of the manufacturing sector, while a reading below this level indicates …

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• 26 February 2021 7:25 pm

  U.S. Consumer Sentiment Declines in January

  

  Consumer sentiment in the United States declined in February, with many surveyed consumers still concerned about the pace of economic recovery and growth in the job market. The Consumer Sentiment Index declined to 76.8 in February from 79 in January, according to data by the University of Michigan released on …

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• 26 February 2021 7:12 pm

  Indian Economy Recovers from Recession in Q4 of 2020

  

  India’s gross domestic product (GDP) expanded by 0.4% on an annual basis during the fourth quarter (Q4) of 2020, data showed on Friday. Revised readings showed that the Indian economy contracted by 7.3% in Q3 and by 24.4% in Q2 of last year, according to figures by the Indian National …

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• 26 February 2021 7:03 pm

  U.S. Consumer Spending and Personal Income Rise in January

  

  Consumer spending in the United States increased sharply last month, amid increased government stimulus spending and a decrease in the number of new Coronavirus cases. U.S. consumer spending rose by 2.4% in January, following a 0.4% decline in December, data by the U.S. Department of Commerce showed on Friday. The …

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• 26 February 2021 6:21 pm

  Canada: Industrial Product Price Index Rises in January

  

  Prices for products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), rose by 2% in January, the data published by Statistics Canada showed on Friday. This reading followed December’s increase of 1.5%.

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• 26 February 2021 5:30 pm

  Reuters: Oil on Track to Make Steady Gains

  

  A Reuters poll today showed that oil prices will witness a steady recovery this year, with the arrival of vaccines to prevent Covid-19 more people and the acceleration of the economic recovery, and in light of the additional momentum of stimulus and the control of supplies of major crude producers. …

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