Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 6 January 2021 3:04 pm

  Eurozone Contraction in December is Deeper Than Expected

  

  A survey showed that economic activity in the Eurozone recorded a more severe contraction than previously thought at the end of 2020 and may deteriorate further with the renewal of the general isolation restrictions imposed to contain the Coronavirus, which has affected the services sector that dominates the bloc. With …

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• 6 January 2021 2:20 pm

  UK Final Services PMI Misses Estimates in December

  

  The UK services sector activity contracted more-than-expected in December, the final report from IHS Markit confirmed this Monday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 49.4 in December versus 49.9 expected and a 49.9 – December’s flash reading.

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• 6 January 2021 1:31 pm

  Bitcoin Soars Above $35,000, Hitting New High

  

  Bitcoin traded as high as $35,000 for the first time during the Asian session on Wednesday, rising to its highest level at $ 35,879, extending its rise by more than 800% since mid-March. The world’s most popular cryptocurrency crossed $ 20,000 for the first time ever on December 16.

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• 6 January 2021 1:20 pm

  European Stocks Rise as US Stimulus Hopes Revive

  

  European stocks rose on Wednesday, and sectors severely affected by the economy, such as energy and banking, gained as investors awaited the Democrats’ victory in the important run-off election in Georgia over two US Senate seats, which could lead to greater fiscal stimulus. A slight rise in the Stoxx 600 …

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• 6 January 2021 1:18 pm

  Japan Stocks Closed Lower Amid Hazy US Senate Race

  

  Japanese stocks closed lower on Wednesday, amid uncertainty surrounding the results of two-seat re-election for the US Senate in Georgia, as sentiment hurt the prospect of declaring a state of emergency in Tokyo and surrounding cities this week. The Nikkei index ended the session down to about 28 thousand points …

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• 6 January 2021 12:31 am

  Oil Prices Surge on New Output Curbs by OPEC+

  

  Oil prices surged on Tuesday, supported by a new agreement by major producers to further reduce production levels amid a new wave of the Coronavirus pandemic. The Organization of the Petroleum Exporting Countries (OPEC) and other top producers, forming an alliance known as OPEC+, reached an agreement on Tuesday to …

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• 5 January 2021 11:37 pm

  Gold Finishes Second Session of New Year Higher

  

  The gold rally continued on Tuesday with strong gains on the second session of 2021, amid increased demand amid concerns about the rising number of new Coronavirus cases in many countries. Gold futures for February delivery rose by $7.8, or 0.4%, to settle at $1,954.4 per ounce. On Monday, the …

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• 5 January 2021 10:49 pm

  Bitcoin Could Go As High As $146K – JPMorgan

  

  Bitcoin has recently recorded multiple new all-time highs and now more increases by the world’s largest cryptocurrency are expected. Researchers at JPMorgan Chase expect Bitcoin could hit $146,000 in the near future, Dow Jones’s MarketWatch reported. If the largest digital currency was to draw demand away from gold investors, new …

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• 5 January 2021 10:28 pm

  Germany Introduces New Lockdown Measures

  

  Germany is prolonging a nationwide lockdown until the end of January 2021, introducing new preventive measures against the resurgence of new Coronavirus cases, German Chancellor Angela Merkel announced on Tuesday, Reuters reported. “We ask all citizens to restrict contact to the absolute minimum,” Merkel said. Moreover, travelers arriving in Germany …

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• 5 January 2021 10:13 pm

  World Bank Sees Lower Growth in 2021

  

  The World Bank Group believes that the global economic recovery in 2021, from the Coronavirus pandemic, is set to be slower than initially expected due to the rising number of new cases and renewed lockdown measures. The global gross domestic product (GDP) is expected to expand by 4% in 2021, …

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• 5 January 2021 9:55 pm

  Ripple Facing New Lawsuit

  

  Ripple Labs is being sued by Tetragon Financial, an investment company in the United Kingdom (UK), after the United States Securities and Exchange Commission (SEC) claimed that XRP was sold improperly, Bloomberg reported. The lawsuit was filed under seal late on Monday in the Delaware Chancery Court. Tetragon Financial Group …

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• 5 January 2021 9:42 pm

  OPEC+ Talks Continue with Various Proposals

  

  Saudi Arabia is reportedly proposing more output cuts during the month of February during the OPEC+ summit, Reuters reported. The Kingdom believes maintaining production curbs is essential to restoring the global oil market balance, despite an improved outlook due to the rollout of Coronavirus vaccines. This comes as worries about …

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• 5 January 2021 9:35 pm

  IMF Sees Global Economy At Better Than Expected Position

  

  The International Monetary Fund (IMF) is seeing the global economy beginning 2021 in a better position compared to what was expected in 2020 due to the Coronavirus pandemic. The IMG chief economist Gita Gopinath told CNBC on Tuesday that the world’s economy is starting the New Year at a somewhat …

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