Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 10 February 2021 9:19 pm

  Dollar Narrows Its Losses After Inflation Data

  

  The U.S. Dollar (USD) declined on Wednesday, following the release of the January inflation data that showed that the Consumer Price Index (CPI) declined to 0.3% on a monthly basis last month, while the core CPI decreased to 1.4% from 1.6% in December. The Dollar Index (DXY), which measures the …

  Read More »
• 10 February 2021 8:12 pm

  U.S. Oil Inventories Down 6.6 M Barrels in Week

  

  Commercial crude oil inventories in the United States decreased by 6.6 million barrels last week, data showed on Wednesday. Oil stockpiles in the U.S. stood at 469.0 million barrels in the week ending February 5, according to the weekly report of the U.S. Energy Information Administration (EIA). “U.S. crude oil …

  Read More »
• 10 February 2021 7:27 pm

  U.S. Wholesale Inventories Rise in December

  

  Wholesale inventories in the United States increased by 0.3% last December, compared with their level in November, data showed on Wednesday. According to the U.S. Department of Commerce’s Census Bureau, the seasonally adjusted wholesale inventories reached $651.5 billion by the end of December 2020. On an annual basis, inventories declined …

  Read More »
• 10 February 2021 5:35 pm

  US: Annual Core CPI Edges lower to 1.4% in January

  

  Inflation in the US, as measured by the Consumer Price Index (CPI), declined to 0.3% on a monthly basis in January, the data published by the US Bureau of Labor Statistics showed on Wednesday. On a yearly basis, the CPI stayed unchanged at 1.4%. the Core CPI, which excludes food …

  Read More »
• 10 February 2021 5:08 pm

  UK PM Johnson: We Have to Get Used to Idea of Revaccinating

  

  British Prime Minister Boris Johnson said on Wednesday that they are going to have to get used to the idea of revaccinating, as reported by Reuters. “The border policy is measured, proportionate and getting tougher next week,” Johnson said.

  Read More »
• 10 February 2021 4:09 pm

  Iraq’s Oil Minister: OPEC+ to Keep Output Policy Unchanged at Next Meeting

  

  Iraq Oil Minister HE Ihsan Abdul Jabbar Ismaael said on Wednesday that Iraq’s oil exports should average around 2.9 million barrels per day in February, as reported by Reuters. Ismaael added that he expects Brent prices ranging between $58 and $63 and noted that he doesn’t expect OPEC+ to make …

  Read More »
• 10 February 2021 3:25 pm

  European Stocks on Positive Side on SocGen Earnings Report

  

  European stocks rose during trading on Wednesday on upbeat quarterly earnings reports from companies including SocGen helped boost optimism about a faster vaccine-led economic recovery this year. The STOXX 600 rose 0.3%, with commodity-related and banking stocks leading the gains. Most of the European indices were higher in early trade. …

  Read More »
• 10 February 2021 2:35 pm

  Gold Rises on Dollar Faltering And Stimulus Hopes

  

  Gold rose on Wednesday, February 10, hovering near the peak of a week that it reached in the previous session, as the attractiveness of the yellow metal increased as a hedge against inflation after the dollar fell and hopes for a US stimulus package increased. And gold rose in spot …

  Read More »
• 10 February 2021 1:45 pm

  Germany: Inflation Rate at Its Highest Level in 7 Months

  

  Germany recorded an annual inflation rate of 1% in January 2021, in line with preliminary estimates. For January, the annual rate of inflation accelerated from -0.3% to 1.0%, which was also in line with prelim figures. In both November and in December consumer prices had fallen by 0.3% year-on-year. consumer …

  Read More »
• 10 February 2021 1:23 pm

  EIA Reduces Its Forecast For Global Oil Demand Growth in 2021

  

  The US Energy Information Administration, on Tuesday, February 9th, reduced its forecast for global oil demand growth in 2021 by 180,000 barrels per day to 5.38 million barrels per day. In its monthly forecast, the administration raised its estimate of oil demand growth in 2022 by 190,000 barrels per day …

  Read More »
• 10 February 2021 1:14 pm

  Britain Records a New Decrease in Corona Cases and an Increase in the Number of Deaths

  

  On Tuesday, February 9th, Britian recorded another decrease in the daily number of new cases of COVID-19, despite an increase in the number of deaths. Tests confirmed that 12,364 people were infected with the virus, in the latest daily toll, down from 14,104 cases yesterday, Monday. The number of new …

  Read More »
• 10 February 2021 1:04 pm

  Oil Decline Despite an Unexpected Drop in US Inventories

  

  Oil prices fell on Wednesday, February 10, threatening to end the longest rise in two years as investors ignored sector data showing lower US crude oil inventories, boosting optimism about an expected increase in global demand for fuel. Brent crude fell cents to 61.08 dollars a barrel, after increasing about …

  Read More »
• 10 February 2021 12:45 pm

  Japan Shares Higher on Bright Prospects For Auto Sector

  

  Japanese shares closed higher in choppy trade Wednesday, February 10, after positive earnings from market leaders Toyota and Honda shed light on an improved global economic outlook. Nikkei’s benchmark rose 0.19% to 29,562.93 points, while cyclical and technology-related consumer stocks led the gains. The broader Topix index increased 0.27% to …

  Read More »