Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 5 January 2021 1:06 pm

  Oil Prices Stabilize Before The Resumption of OPEC+ Meeting on February Production Levels

  

  Oil prices were almost unchanged on Tuesday ahead of stalled talks between major producers over potential changes to February production that are due to resume later in the day as concerns over fuel demand persist in light of new lockdown measures to combat COVID-19. Brent crude futures for March delivery …

  Read More »
• 5 January 2021 12:13 pm

  French Health Minister: We Cannot Ease up on Restrictions For Now

  

  “We cannot ease up on coronavirus-induced restrictions for now,” French Health Minister Olivier Véran said in a statement on Tuesday. “Will authorise vaccination of people aged 75 and above who are living at home by the end of January.”

  Read More »
• 5 January 2021 11:44 am

  State of Emergency in Japan Pushes Nikkei Lower

  

  Japanese stocks fell on Tuesday, as the government appeared to be preparing to declare a state of emergency to deal with the rise in Covid-19 infections, while investor appetite for risk was also negatively affected by the uncertainty over the re-election for the Senate in the US state of Georgia. …

  Read More »
• 5 January 2021 11:01 am

  Gold Falls as The Dollar Recovers, Attention Turns to Georgia’s Elections

  

  Gold prices fell on Tuesday after reaching an eight-week high, at a time when the US dollar recovered from its lowest level in several years ahead of a re-election for the US Senate in Georgia that will determine the future course of fiscal stimulus in the world’s largest economy. Gold …

  Read More »
• 5 January 2021 10:29 am

  UK Prime Minister Imposes Harsh Lockdown as New Covid-19 Variant Spreads

  

  British Prime Minister Boris Johnson announced new general isolation in England on Monday, January 4, and instructed citizens to stay home to contain the most contagious strain of the Coronavirus. “It is clear that we need to do more to bring this new variant under control,” Johnson said. “That means …

  Read More »
• 5 January 2021 12:22 am

  Oil Closes Lower Awaiting OPEC Meeting Outcome

  

  Crude oil prices finished Monday on a lower note, amid anticipation for the outcomes of the OPEC+ summit, which will resume on Tuesday. Saudi Arabia is calling for maintaining the output curbs, while Russia is asking for raising production in anticipation for demand recovery. Brent crude futures for March delivery …

  Read More »
• 5 January 2021 12:14 am

  Oil Market Seeing Concerns About Demand Recovery

  

  The crude oil market is seeing rising concerns about the recovery of global demand amid another wave of the Coronavirus pandemic. A summit for the Organization of the Petroleum Exporting Countries (OPEC) and other major producers led by Russia, an alliance known as OPEC+ is discussing output policy for the …

  Read More »
• 4 January 2021 11:16 pm

  Gold Finishes First Session of 2021 with Solid Gains

  

  Gold prices rose on Monday, opening the year with a positive performance despite an improved risk sentiment among investors. The yellow metal futures were even able to restore the $1,900 mark with solid gains. Gold futures for February delivery rose by $51.50, or 2.7%, to settle at the level of …

  Read More »
• 4 January 2021 10:05 pm

  U.S. Manufacturing Activity Expands in December

  

  Manufacturing activity in the United States expanded at its highest pace in more than six years during December, as shown by the IHS Markit’s manufacturing purchasing managers index (PMI) on Monday. The manufacturing sector’s PMI rose to 57.1 in December from 56.7 in November. Moreover, the index flash reading for …

  Read More »
• 4 January 2021 9:44 pm

  Evans Indicates Fed’s Easy Policy Will Continue

  The President of the Federal Reserve Bank of Chicago, Charles Evans, on Monday, said that the Fed remains in need of maintaining its accommodative policy for the near future, Reuters reported. “To meet our objectives and manage risks, the Fed’s policy stance will have to be accommodative for quite a …

  Read More »
• 4 January 2021 9:28 pm

  U.S. Construction Spending Hits Record High

  

  Construction spending in the United States grew to record high in November, data showed on Monday, according to the U.S. Department of Commerce. The American housing market is showing strength signs, booming in the midst of historically low mortgage rates. The housing industry is seen as a strong support to …

  Read More »
• 4 January 2021 9:23 pm

  Bitcoin Fluctuating Around $31,000 on Monday

  

  Bitcoin, the world’s largest cryptocurrency, is declining on Monday despite an improved risk sentiment among investors. Bitcoin is down by around 7.4% for the day at $30,927.70, according to CoinMarketCap. Over the next seven days, Bitcoin achieved gains of about 15.8%, exceeding the $30,000 and the $31,000 for the very …

  Read More »
• 4 January 2021 9:18 pm

  European Stocks Close First Session of New Year Higher

  

  European stocks rose on Monday, opening the year with a positive performance amid an improved risk sentiment among investors, supported by the roll out of new Coronavirus vaccines, despite the concerning number of new cases. The pan-European STOXX 600 index closed higher by 0.72% on the back of gains by …

  Read More »