Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 9 February 2021 2:26 pm

  Bitcoin Hits $48,000 Barrier For The First Time

  

  Bitcoin hit $48,000 for the first time in the early trading on Tuesday at Bitstamp, as it headed towards the $50,000 barrier. The market value of the largest cryptocurrency in the world has now exceeded $ 891 billion. Bitcoin has risen nearly 24% since the leading electronic car maker Tesla …

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• 9 February 2021 2:18 pm

  Oil Rises to Its Highest Level in 13 Months Thanks to Production Cuts And Hopes of Recovery in Demand

  

  Oil prices rose on Tuesday, February 9th, to their highest in 13 months, as energy markets received support from major producers cutting supplies and optimism about a recovery in fuel demand. Brent crude futures for April delivery were 50 cents, or 0.8%, at $ 61.06 a barrel. US West Texas …

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• 9 February 2021 12:25 pm

  Japan Shares Closing Higher After Reaching a 30-Year Peak

  

  Japanese stocks closed higher for the third consecutive session on Tuesday, February 9, after reaching a 30-year high, as strong business results for companies and progress in distributing anti-virus vaccines raised expectations of a rapid economic recovery. The benchmark Nikkei index rose 0.4% to 29,505.93 points, while the broader Topix …

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• 9 February 2021 3:18 am

  Wall Street Continues the Record-Breaking Surges

  

  The main indices of the New York Stock Exchange (NYSE) closed at new record highs on Monday, opening the second week of February with a strong performance that build up on the recent surges, which come on the back of improved risk sentiment among Wall Street investors and anticipation for …

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• 9 February 2021 3:11 am

  Fed’s Mester Sees Easing Policies Lasting Very Long Time

  

  The President of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Monday that the Fed will maintain its monetary easing policies for a very long time to help the economy achieve the inflation and employment goals set by the central bank, Reuters reported. Mester believes that economic activity …

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• 9 February 2021 3:01 am

  Oil Prices Rise Again with Brent Exceeding $60 per Barrel

  

  Oil prices continued to rise on Monday, with the global benchmark crude reaching the $60 a barrel level for the first time in about a year. This comes amid the commitment of the OPEC+ alliance to output curbs, improved expectations for the recovery of global demand, and anticipation for a …

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• 9 February 2021 12:22 am

  Fed’s Barkin not Worried About Rise in Inflation

  

  The President of the Federal Reserve Bank of Richmond, Thomas Barkin, is not concerned with an overshoot in inflation due to the increased government stimulus, which he views as necessary to achieve economic recovery. Barkin still sees some short-term price volatility, with deflationary and inflationary risks ahead, he told the …

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• 9 February 2021 12:00 am

  Gold Closes Higher for Second Session in Row

  

  Gold prices rose on Monday, for the second consecutive session, opening the week with a positive performance after dropping on Thursday by 2% to its lowest level since November. The yellow metal gains come amid anticipation for an increase in the United States government stimulus spending. The Democrats are working …

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• 8 February 2021 11:57 pm

  U.S. Economic Growth Forecasts Revised Up: Goldman Sachs

  

  A report by Goldman Sachs on Monday showed a rise in the bank’s expectations for the growth of the gross domestic product (GDP) in the United States during the second quarter of 2021 to 11% from a previous estimate of 10%. Goldman Sachs now sees additional fiscal measures at $1.5 …

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• 8 February 2021 10:02 pm

  European Stocks Close Higher

  

  European stocks closed higher on Monday, opening the week with a positive performance amid an improved risk sentiment that benefited equity markets around the world. The pan-European STOXX 600 index finished higher by 0.3%. Meanwhile, the French CAC40 index gained 0.47%, while the German index DAX closed marginally higher by …

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• 8 February 2021 9:01 pm

  Takeaways from Lagarde’s Speech to European Parliament

  

  The President of the European Central Bank (ECB), Christine Lagarde, delivered on Monday a speech to the plenary session of the European Parliament, which is drafting a resolution for the ECB Annual Report. Lagarde acknowledged that the start of vaccination campaigns provides hope, but noted that people across Europe are …

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• 8 February 2021 8:38 pm

  USD Steadies Following Last Week’s Decline

  

  The U.S. Dollar (USD) is stabilizing on Monday, following its decline by the end of last week following the release of job data in the United States. The greenback is fluctuating within a limited range, with the market anticipating the passing of the $1.9 trillion relief bill, proposed by the …

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• 8 February 2021 8:00 pm

  AUD Rises as USD Struggles for Direction

  

  The Australian Dollar (AUD) is showing a positive performance against the U.S. Dollar (USD) at the beginning of the second week of February, as the latter continues to be negatively impacted by the recent job data report in the United States. Early in the American session on Monday, the AUD/USD …

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