Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 26 January 2021 12:40 pm

  Gold Rising on US stimulus Hopes

  

  Gold rose on Tuesday, January 26th, as the yellow metal’s appeal was strengthened as a hedge against inflation thanks to expectations of eventually passing a large US stimulus package, despite the strong dollar curbing the gains. This rose in spot transactions 0.1% to 1856.33 dollars an ounce and US gold …

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• 26 January 2021 4:23 am

  Italian PM Conte to Resign Aiming to Form New Coalition

  

  The Prime Minister of Italy, Giuseppe Conte, is set to resign from his post on Tuesday, his office announced on Monday. The Prime Minister is looking forward to being re-appointed by President Sergio Mattarella to form a new coalition government. The current government lost its majority in the Italian Senate …

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• 26 January 2021 2:16 am

  BoE Governor Questions Stability of Cryptocurrencies

  

  The Governor of the Bank of England (BoE), Andrew Bailey, said on Monday that cryptocurrencies are providing a modern way of payment, but not as currencies, Reuters reported. Bailey’s remarks came during an online event organized by the World Economic Forum’s Davos summit on Monday. “Have we landed on what …

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• 26 January 2021 2:08 am

  Bitcoin Shows Recovery Signs and Ether Gives Up Record High

  

  Bitcoin rose on Monday, reducing its recent losses that came amid a strong correction wave and selling pressures that brought the price of the world’s largest digital currency below $30,000. Over the past 24 hours, Bitcoin rose by about 3% to near $32,600, cutting its losses over the past seven …

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• 26 January 2021 1:55 am

  Oil Finishes Higher Amid Supply Disruptions

  

  Oil prices rose on Monday amid concerns about global supplies, with Iraq planning to cut output and Libya seeing production disruptions. In addition, crude prices continue to be supported by the prospect of increased government stimulus in the United States by the new administration. Brent crude futures for March delivery …

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• 26 January 2021 12:11 am

  Takeaways from ECB’s Lagarde Comments

  

  The President of the European Central Bank (ECB), Christine Lagarde, expressed a positive sentiment towards this year being one of economic recovery from the impact of the Coronavirus pandemic. Lagarde’s remarks came during a panel discussion during the Davos Agenda summit on Monday, CNBC reported. “Our hope is that still …

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• 25 January 2021 11:40 pm

  Gold Down for Third Session in Row

  

  Gold prices declined on Monday, as the U.S. Dollar (USD) showed some rebound signs and rose across the board. This is the third consecutive decline for the yellow metal futures. Gold futures for February delivery lost $1, or 0.1%, to close at the level of $1,855.20 per ounce. Last week, …

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• 25 January 2021 9:56 pm

  USD Rises Amid Reduced Risk Appetite

  

  The U.S. Dollar (USD) has switched its losses earlier in the first session of the week to show a mostly positive performance on Monday. In the absence of major economic data in the United States, the market continues to be dominated by concerns about the Coronavirus pandemic, which is curbing …

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• 25 January 2021 8:51 pm

  European Stocks Finish Sharply Lower

  

  European stocks closed lower on Monday, opening the week with a negative performance as it erased all of its gains earlier in today’s session, with travel and leisure stocks leading the decline amid renewed concerns about the Coronavirus pandemic. The pan-European STOXX 600 index finished lower by 0.9%, after rising …

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• 25 January 2021 7:39 pm

  Dallas Fed Manufacturing Business Index Falls Sharply in January

  

  The manufacturing activity in the State of Texas continued to expand during January for the eighth consecutive month, data released by the Federal Reserve Bank of Dallas on Monday showed. The Dallas Fed Manufacturing Business Index recorded 4.6 in January, falling sharply from its level in December at 26.8, which …

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• 25 January 2021 7:37 pm

  Wall Street Benchmark Indices Open Week Mixed

  

  The main indices of the New York Stock Exchange (NYSE) are showing a mixed performance at the beginning of the week’s trade, with Wall Street opening Monday with anticipation for a number of major financial disclosures in the week ahead. The Dow Jones Industrial Average lost about 190 points, or …

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• 25 January 2021 5:58 pm

  German Economy Ministry: The Economy May Return to The Level Before The Corona in Mid-2022

  

  A draft document by the German Economy Ministry and seen by Reuters stated that the German economy, the largest in Europe, is likely to reach pre-coronavirus levels in mid-2022. In its draft annual economic report, the ministry said that the state of the global economy, untapped production capabilities, and early …

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• 25 January 2021 5:50 pm

  Barclays Raises Its 2021 Oil Price Forecast

  

  Barclays Bank raised its forecast for oil prices in 2021, driven by “temporary factors” such as improved demand for fuel in winter due to cold weather, especially in Asia, and a weak dollar. The bank maintained its optimistic forecast of oil prices in the second half of the year, but …

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