Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 14 January 2021 5:54 pm

  OPEC Leaves 2021 Global Oil Demand Growth Forecast Unchanged at 5.9 Million bpd

  

  The Organization of the Petroleum Exporting Countries (OPEC) left its forecast for global oil demand growth in 2021 unchanged at 5.9 million barrels per day in its latest monthly report, per Reuters. “US shale supply outlook is now slightly more optimistic with rising oil prices, the output is seen recovering …

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• 14 January 2021 5:49 pm

  US: Weekly Initial Jobless Claims Rise to 965K

  

  There were 965,000 initial claims for unemployment benefits in the US during the week ending January 9, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed the previous print of 784,000 and came in worse than the market expectation of 795,000.

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• 14 January 2021 5:48 pm

  A Contraction of Overall Budget Deficit of Egypt to 3.6% in The First Half of 2020-2021

  

  The Egyptian Cabinet said today, Thursday, that the total budget deficit amounted to 3.6% of GDP in the first half of the current fiscal year 2020-2021, compared to 4.1% a year ago. He added in a press release that the primary surplus in the first half of the current fiscal …

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• 14 January 2021 4:30 pm

  Annual Inflation in Saudi Arabia Increased by 5.3% in December 2020

  

  The consumer price index increased in KSA by 5.3% in December 2020 compared to the same month last year in December 2019, which is lower than the inflation rate for the previous month, November 2020. This price development is largely due to the increase in value-added tax from 5% to …

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• 14 January 2021 3:58 pm

  British Study: Covid-19 Infection Gives at Least 5 Months of Immunity

  

  A British study conducted on health care workers found that those infected with Covid-19 were most likely to have immunity from the disease for at least five months, but there is evidence that those carrying antibodies may carry and spread the virus. And the preliminary results reached by scientists at …

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• 14 January 2021 2:14 pm

  Germany’s Economy Shrinks 5% in 2020 Due to CoronaVitus

  

  Preliminary data from the Federal Statistics Office showed that Germany’s economy contracted less than expected at 5% in 2020, as the country’s strong response contributed to limiting the damage caused by the Covid-19 pandemic in Europe’s largest economy. The drop in gross domestic product, below Reuters’s forecast of a 5.1% …

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• 14 January 2021 1:52 pm

  China’s Export Growth Exceeds Expectations, Supported by Strong Global Demand

  

  China’s exports increased more than expected in December, customs data said on Thursday, January 14th, as demand for Chinese goods rose due to disruptions caused by the Coronavirus around the world, even as the rise of the yuan made exports more expensive for overseas buyers. A strong domestic recovery also …

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• 14 January 2021 1:18 pm

  Oil Prices Are Rising Thanks to Strong Chinese Data And Lower US Inventories

  

  Oil prices rose Thursday, January 14th, after US crude stocks fell for the fifth week in a row and strong data from China showed a rise in imports, but the increase in global coronavirus infections curbed the gains. Brent crude futures gained 13 cents, or 0.2%, to $56.19 a barrel, …

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• 14 January 2021 12:25 pm

  Gold Falls With The Rise of US Dollar And US Treasury Yields

  

  Gold prices fell Thursday, January 14th, as US Treasury yields and the dollar rebounded, while investors awaited details about the next US President Joe Biden’s proposal to stimulate the economy. In spot transactions, gold fell 0.1% to $ 1842.51 an ounce, while US gold futures fell 0.8% to $ 1839.80. …

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• 14 January 2021 2:00 am

  U.S. House Impeaches Trump for Second Time

  

  The United States House of Representatives on Wednesday impeached President Donald Trump, making him the first president in the history of the U.S. to be impeached twice. All Democrats plus 10 Republicans in the house voted in favor of the articles of impeachment, which charged Trump with inciting an insurrection. …

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• 14 January 2021 1:00 am

  Oil Finishes Lower Following EIA’s Weekly Report

  

  Oil prices closed Wednesday lower after a mixed performance, ending a rising trend that lasted for six consecutive sessions. The decline in crude prices came amid the rebound of the U.S. Dollar (USD) and a less than expected draw in American crude inventories coupled with a rise in gasoline and …

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• 13 January 2021 11:43 pm

  Fed’s Brainard: It is Too Early to Call Achieving Targets

  

  The United States Federal Reserve will continue to support the economy on its road to recovery from the Coronavirus pandemic, Member of the Federal Reserve Board of Governors, Lael Brainard said on Wednesday, the Wall Street Journal reported. “We are strongly committed to achieving our maximum-employment and average inflation goals.”“It …

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• 13 January 2021 11:20 pm

  Gold Prices Close Higher with Investors Turning Eyes to Impeachment

  

  Gold prices rose on Wednesday, after data showed an increase in the inflation rate in the United States and amid anticipation for what could be the second impeachment of President Donald Trump by the House of Representatives. Gold futures for February delivery gained $10.70, or 0.6%, and closed at $1,854.90 …

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