Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 15 January 2021 12:49 pm

  Oil Declining in Light of General Isolation Measures in China And US Unemployment Data

  

  Oil prices plunged as fears about Chinese cities being subjected to general isolation measures due to the outbreak of the Coronavirus curbed a rally driven by strong import data from the world’s largest crude consumer and US plans for a stimulus package. Brent fell 46 cents, or 0.8%, to $ …

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• 15 January 2021 2:39 am

  Fed’s Powell Vows to Continue Easing until Economy Recovers

  

  The Chairman of the United States Federal Reserve, Jerome Powell, said on Thursday that the Fed will continue its easing policy, keeping interest rates at record low levels for the foreseeable future, until the American economy recovers from the impact of the Coronavirus pandemic. “When the time comes to raise …

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• 15 January 2021 2:28 am

  Oil Closes Higher and WTI Finishes at Highest Level in 11 Months

  

  Oil prices returned to gains on Thursday, finishing higher on the back of the rollout of Coronavirus vaccines and positive sentiment towards the expected increase in government stimulus spending in the United States as planned by the new administration. Brent crude futures for March delivery gained 36 cents, or 0.6%, to …

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• 15 January 2021 2:19 am

  Gold Closes Lower as Treasury Yields Rise

  

  Gold prices declined on Thursday as the Treasury yields in the United States continued to rise and with the U.S. Dollar (USD) showing some rebound signs. The yellow metal futures for February delivery closed lower by $3.50, or 0.2%, at $1,851.40 per ounce. Meanwhile, silver futures for March delivery gained 23 …

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• 14 January 2021 11:07 pm

  European Stocks Finish Higher for Third Day

  

  European stocks closed higher on Thursday, registering gains for the third consecutive session, supported by the gains of the tech and travel sectors and a positive sentiment towards the anticipated rise in stimulus spending by the new administration in the United States. The pan-European STOXX 600 index finished higher by …

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• 14 January 2021 10:31 pm

  U.S. Business Starts Fall 28.5% in Q4 of 2020

  

  The United States economy continues to be affected by the Coronavirus pandemic, as evident by the decline in applications to start new businesses by 28.5% during the fourth quarter (Q4) of 2020, Reuters reported. Data by the U.S. Department of Commerce said on Thursday that applications to start new businesses …

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• 14 January 2021 10:26 pm

  U.S. Consumer Sentiment Hits Six-Month Low: Bloomberg

  

  Consumer sentiment in the United States fell last week its lowest level in six months, data showed on Thursday. The Bloomberg Consumer Comfort Index declined by 1.2 points to 43.2 points. This the eighth consecutive decline in the index, which is now 6.6 points below its level in mid-November in …

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• 14 January 2021 9:37 pm

  U.S. Adds Chinese Oil Giant CNOOC to Blacklist

  

  The United States Department of Commerce added on Thursday China National Offshore Oil Corporation (CNOOC) to its blacklist due to belligerent actions in the South China Sea, AFP reported. Accordingly, S&P Dow Jones indices has to de-list the company. “China’s reckless and belligerent actions in the South China Sea and …

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• 14 January 2021 7:55 pm

  ECB President Calls for Regulating Bitcoin

  

  There is a need for the global regulation of Bitcoin, according to the President of the European Central Bank (ECB), Christine Lagarde, Reuters reported. Lagarde believes that global cooperation is needed to stand in the face of what she called funny business and money laundering using the cryptocurrency, which she …

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• 14 January 2021 7:00 pm

  Fed’s Rosengren: Economy Facing Weakness Risk in Coming Months

  

  The United State economy is facing the risk of significant weakness during the coming months until Coronavirus vaccines are distributed, said the President of the Federal Reserve Bank of Boston, Eric Rosengren. “I am expecting that the labor market is going to be stagnant for the next couple months until …

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• 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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