Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 5 February 2021 1:16 pm

  European Stocks Rise in Early Trading

  

  European stocks rallied Friday (February 5th), tracking optimistic sentiment on Wall Street thanks to hopes for a faster global economic recovery, while stocks in Frankfurt lagged in performance after data showed a decline in industrial orders. The European Stoxx600 index gained 0.2% and is on track to post its longest …

  Read More »
• 5 February 2021 12:31 pm

  German Factory Orders Fall More Than Expected in December

  

  Data revealed that German factory orders decreased more than expected on a monthly basis in December, as the impact of restrictions imposed to combat the Coronavirus reduced demand from the rest of the euro area. The data published by the Federal Statistics Office showed that orders for the supply of …

  Read More »
• 5 February 2021 2:16 am

  Dogecoin Surges Following Tweets by Elon Musk

  

  Fringe cryptocurrency Dogecoin surged on Thursday, following a number of Tweets from famous billionaire and CEO of Tesla and SpaceX Elon Musk. Musk is famous for his social media presence, which often causes some sort of controversy. Mark Cuban, another famous billionaire investor has also recently tweeted about the digital …

  Read More »
• 5 February 2021 2:01 am

  Yellen Discusses Recent Trading Frenzy in Wall Street

  

  The United States Secretary of the Treasury, Janet Yellen, is discussing with market leaders the recent fluctuations in the stock market due to speculation trading. Yellen is holding a meeting with the heads of the Securities and Exchange Commission (SEC), Federal Reserve Board, Federal Reserve Bank of New York, and …

  Read More »
• 5 February 2021 1:54 am

  Wall Street Maintains Gains and S&P 500 Hits New All-Time High

  

  The New York Stock Exchange (NYSE) maintained its positive performance on Thursday, supported by positive financial results disclosed by a number of leading listed companies, as well as a positive sentiment in Wall Street regarding economic recovery from the Coronavirus pandemic. The Dow Jones Industrial Average gained 332.2 points, or …

  Read More »
• 5 February 2021 12:46 am

  Oil Maintains Gains for Fifth Session in a Row

  

  Oil prices maintained their rising trend and ended Thursday at a fresh highest level in about a year, supported by the commitment of the OPEC+ alliance to output cuts and the prospects of economic recovery and increased government stimulus in the United States. Brent crude futures for April delivery gained …

  Read More »
• 5 February 2021 12:07 am

  Gold Prices Return to Fall Sharply as USD Rises

  

  Gold prices plunged on Thursday, on the back of the U.S. Dollar (USD) gaining momentum and rising across the board after data showed a decline in jobless claims in the United States, indicating an improvement in economic recovery from the Coronavirus pandemic. In addition, the rising U.S. Treasury yields pressured …

  Read More »
• 4 February 2021 10:52 pm

  Dollar Rises Across the Board

  

  The U.S. Dollar (USD) rose on Thursday across the board, following the Bank of England (BoE) first policy meeting of the year, in which it indicated no plans to set negative interest rates during the next six months. The Dollar Index (DXY), which measures the greenback’s performance against a basket …

  Read More »
• 4 February 2021 10:02 pm

  European Stocks Close Mixed Following BoE Meeting

  

  European stocks closed Thursday on a mixed note, amid anticipation for the developments of the Coronavirus pandemic across the continent. The STOXX Europe 600 index rose by 0.5%, with the banking sector leading the gains and adding 2.7%. The French index CAC40 finished higher by 0.82%, while the German index …

  Read More »
• 4 February 2021 7:56 pm

  U.S. Natural Gas Inventories Decline in Week: EIA

  

  Natural gas inventories in the United States decreased by 192 Bcf during the week ending on January 29, according to data by the U.S. Energy Information Administration (EIA). Working natural gas in storage stood at 2,689 Bcf as of last Friday. This represents an increase of 41 Bcf compared with …

  Read More »
• 4 February 2021 7:49 pm

  U.S. Factory Orders Rise for Eighth Month in Row

  

  Factory orders in the United States increased for the eighth consecutive month during December, rising by 1.1%, following a 1.3% rise in November, data by the U.S. Department of Commerce showed on Thursday. Factory shipments grew by 1.7% in December and unfilled orders declined by 0.3%. Orders for durable goods …

  Read More »
• 4 February 2021 6:03 pm

  US: Weekly Initial Jobless Claims Decline to 779K

  

  There were 779,000 initial claims for unemployment benefits in the US during the week ending January 30, the data published by the US Department of Labor (DOL) showed on Thursday. This reading followed the previous print of 812,000 (revised from 847,000) and came in better than the market expectation of …

  Read More »
• 4 February 2021 5:19 pm

  BoE: Banks Will Need Six Months to Prepare For Negative Rates

  

  The Bank of England said UK banks will need at least six months to prepare for the switch to negative interest rates. This was after the bank fixed interest rates at 0.1%. The Bank of England asked British banks in October about their preparedness for negative interest rates, after it …

  Read More »