Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 21 January 2021 2:41 am

  Biden’s Rescue Plan Faces Challenges in the Senate

  

  The President of the United States, Joe Biden, recently laid out a new government stimulus plan worth $1.9 trillion to help the economy face the impact of the Coronavirus pandemic, under the title “The American Rescue Plan.” The plan will grant a monthly payment of $2,000 per household by adding …

  Read More »
• 20 January 2021 11:30 pm

  Oil Futures Rise for Second Day in Row

  

  Oil prices rose on Wednesday for the second consecutive session, amid expectations for increased stimulus spending by the new administration in the United Stated as President Joe Biden was officially inaugurated earlier today. Brent crude futures for March delivery added 18 cents, or 0.3%, to close at $56.08 per barrel. …

  Read More »
• 20 January 2021 11:00 pm

  Gold Closes at Two-Week High

  

  Gold prices rose on Wednesday to close at their highest level in about two weeks, amid anticipation for increased stimulus spending in the United States by the new administration of President Joe Biden. The rise of the yellow metal came as the U.S. Dollar (USD) declined, after shortly rising earlier …

  Read More »
• 20 January 2021 10:17 pm

  USD/CAD Declines Following BoC’s Policy Decision

  

  The U.S. Dollar (USD) declined on Wednesday against its Canadian counterpart (CAD), following the release of the Bank of Canada’s (BoC) policy statement. In its meeting earlier today, the BoC decided to maintain its main rate unchanged at 0.25% and to keep the current pace of bond purchases at CAD …

  Read More »
• 20 January 2021 9:36 pm

  Bank of Canada Maintains Main Rate Unchanged

  

  The Bank of Canada (BoC) has decided to maintain its current interest rate unchanged at 0.25%. The Canadian central bank has vowed to maintain the low rate until the economic recovery from the impact of the Coronavirus pandemic is well underway. This comes against some market expectations the BoC may …

  Read More »
• 20 January 2021 9:27 pm

  European Stocks Finish Wednesday on a Higher Note

  

  European stocks rose on Wednesday, with the pan-continental STOXX Europe 600 index rising by 0.7%. The automobile sector led the rising sectors, gaining 2.7%. In France, the CAC40 index rose by 0.53%, while the German index DAX leveled up by 0.77%. Meanwhile, the UK’s FTSE100 ended the session higher by …

  Read More »
• 20 January 2021 9:10 pm

  Biden Sworn In as 46th U.S. President

  

  Joe Biden was sworn in as the 46th President of the United States on Wednesday. Prior to the heavily protected ceremony, now former President Donald Trump left the White House and spoke at a small farewell gathering. In addition, Kamala Harris was sworn in as Vice President of the U.S., …

  Read More »
• 20 January 2021 8:59 pm

  U.S. Homebuilders Confidence Decline in January

  

  Homebuilders’ confidence in the United States for the single-family home market declined during January, data showed on Wednesday. The NAHB/Wells Fargo Housing Market index decreased to 83 in January from a previous reading of 86, against market expectations that saw the index remaining unchanged. The index for sales expectations during …

  Read More »
• 20 January 2021 7:30 pm

  Lockdown to Weigh on Germany’s Economic Growth

  

  A prolonged lockdown in Germany to help combat the spread of the Coronavirus is expected to impact the growth of the largest economy in Europe, according to market experts, Reuters reported. Ifo is expecting the second quarter (Q2) of 2021 to see a growth rate of 3%. As for Q1, …

  Read More »
• 20 January 2021 7:22 pm

  GBP/USD Rises as Inflation in UK Advances

  

  The British Pound (GBP) is rising on Wednesday against the U.S. Dollar (USD), after data showed that inflation in the United Kingdom (UK) rose more than expected during December. The GBP/USD pair is up by 0.19% for the day, trading at 1.3656. The pair has been moving today in a …

  Read More »
• 20 January 2021 6:31 pm

  USD Rises Ahead of Biden Inauguration

  

  The U.S. Dollar (USD) is showing a positive performance in the early trade of the American session on Wednesday ahead of the inauguration of President-elect Joe Biden. The Dollar Index (DXY), which measures the greenback performance against a basket of six international peers, is up marginally by 0.05% at 90.54. …

  Read More »
• 20 January 2021 5:48 pm

  EIA expects US Shale oil Production to Fall by 90,000 BPD in February

  

  The US Energy Information Administration said in a monthly report, Tuesday, that US oil production from the seven major shale formations is expected to decline by about 90 thousand barrels per day in February to about 7.52 million barrels per day. The data showed that production in nearly every rocky …

  Read More »
• 20 January 2021 5:37 pm

  Canada: Annual CPI Eases to 0.7% in December

  

  Inflation in Canada, as measured by the Consumer Price Index (CPI), fell 0.2% MoM in December, data published by Statistics Canada showed on Wednesday. On a yearly basis, the CPI eased to 0.7% as against consensus estimates pointing to a reading of 1%. The readings were well below market expectations. …

  Read More »