Noor Trends News, Technical Analysis, Educational Tools and Recommendations

February, 2021

• 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 …

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• 4 February 2021 4:27 pm

  IMF Introduces a New Approach to Assessing Debt Sustainability

  

  The International Monetary Fund has said it is launching a new approach to assessing debt sustainability for countries that are able to access financial markets with the goal of predicting the risks of financial crises more accurately and improving transparency. Fund officials said that it is expected to activate an …

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• 4 February 2021 4:04 pm

  BoE Leaves Policy Rate And QE Unchanged

  

  The Bank of England’s (BoE) Monetary Policy Committee (MPC) decided to leave the benchmark interest rate unchanged at 0.10% at its January policy meeting and kept the Asset Purchase Facility steady at £895 billion.

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• 4 February 2021 3:45 pm

  Cryptocurrency Dogecoin Goes up After Elon Musk Tweet

  

  The cryptocurrency, Dogecoin, rose by more than 50% after US billionaire Elon Musk showed his support on Twitter, two days after announcing that he would be away from the social networking site for “a while.” Dogecoin jumped to $0.05,798, according to data on the blockchain and cryptocurrency site CoinDesk. Tesla …

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• 4 February 2021 3:11 pm

  Eurozone Retail Sales surge by 2% in December

  

  Retail Sales in the euro area rose by 2% on a monthly basis in December, the data published by the Eurostat showed on Thursday. This reading followed November’s contraction of 5.7% and came in better than the market expectation of 1.6%. On a yearly basis, Retail Sales increased by 0.6% …

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• 4 February 2021 2:41 pm

  Currencies Overview: US Dollar Rising on Optimism And Pound Awaits BoE Meeting

  

  The dollar rose to its highest in more than two months against the euro and the yen on Thursday (February 4th), as pessimism about the outlook for the US economy subsided before the publication of important data on the jobs market. The pound fell against the dollar, but it is …

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• 4 February 2021 1:42 pm

  Gold and Silver Declining as US Dollar Rallied to a Two-Month High

  

  Gold and silver prices fell on Thursday, February 4th, as the dollar’s rally negatively affected their attractiveness, while investors awaited the approval of a massive stimulus package in the United States and the Bank of England’s policy expectations. Gold fell in immediate transactions 0.6% to 1822.81 dollars an ounce. US …

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• 4 February 2021 12:45 pm

  Japan shares Drop on Chip Companies and Sony jump on Positive Outlook

  

  Japanese shares ended a three-day winning streak on Thursday, February 4th, pressured by declines in shares of chip-related companies, but higher Sony shares limited some of the losses. Sony shares rose 9.54%, reaching their highest levels since September 2000, and was among the biggest gainers on the Nikkei index after …

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• 4 February 2021 1:46 am

  U.S. Treasury Yields Rise Amid Hopes for Economic Recovery

  

  Treasury yields in the United States rose on Wednesday, amid anticipation for wider vaccines rollouts, anticipation for increased government stimulus by the Biden administration, and increased hopes for economic recovery in 2021. The benchmark 10-year Treasury bond yield increased by 2.4 basis points to 1.129%. The return on the 30-year …

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• 4 February 2021 1:41 am

  Wall Street Closes Mostly Higher While Nasdaq Slips

  

  The New York Stock Exchange (NYSE) closed Wednesday on a higher note, supported by an improved investors’ sentiment and risk appetite on the back of positive earnings reports by many of Wall Street’s biggest listed companies. The Dow Jones Industrial Average edged higher by 0.1% to close at 30,723.60 points. …

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• 4 February 2021 1:35 am

  Oil Closes at Highest Level in a Year

  

  Oil prices rose on Wednesday, recording a fresh highest level in a year, supported by the decline in the United States crude inventories, as well as the commitment of major producers to output cuts and the prospects of increased stimulus spending in the U.S. Brent crude futures for April delivery …

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• 4 February 2021 12:25 am

  Gold Finishes Marginally Higher

  

  Gold prices rose marginally on Wednesday, amid a fluctuating performance by the U.S. Dollar (USD) and a rise in the Treasury yields. Gold futures for April delivery finished higher by $1.70, or 0.1%, at the level of $1,835.10 per ounce. This comes following the yellow metal most active contracts declined …

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• 3 February 2021 10:21 pm

  Fed’s Bullard Expects Recovery in Coming Months

  

  President of the Federal Reserve Bank of St. Louis, James Bullard, said on Wednesday that he expects the U.S. economy to recover in 2021 with the Coronavirus pandemic easing over the first half of the year, Reuters reported. “The health crisis will wane in the months ahead.” According to Bullard, …

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