Noor Trends News, Technical Analysis, Educational Tools and Recommendations

January, 2021

• 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 …

  Read More »
• 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 …

  Read More »
• 5 January 2021 9:30 pm

  GM Reports 4.8% Increase in Q4 Sales

  

  General Motors (GM), which is listed on the New York Stock Exchange (NYSE) on Tuesday reported a 4.8% rise in sales across the United States during the fourth quarter (Q4) of 2020, Reuters reported. The rise in sales is supported by increased demand for new motor vehicles during the Coronavirus …

  Read More »
• 5 January 2021 9:23 pm

  U.S. Factory Activity at Highest Level Since 2018

  

  Factory activity in the United States expanded to its highest level in nearly two and a half years during December, with the American economy recovering from the impact of the Coronavirus pandemic. The pandemic is reportedly leading to increased demand for goods compared with services, however, the rising number of …

  Read More »
• 5 January 2021 8:00 pm

  European Stocks Finish Lower After Fluctuating

  

  European stocks closed lower on Tuesday, after a mixed performance and fluctuating through the second session of 2021. The STOXX Europe 600 index finished down by 0.2%. In the UK. The FTSE100 index rose by 0.61%, showing a positive performance supported by an improved sentiment after the completion of the …

  Read More »
• 5 January 2021 6:30 pm

  USD Continues to Decline Across the Board

  

  The US Dollar (USD) continues to decline on Tuesday, amid improved risk sentiment among investors supporting other currencies. The Dollar Index (DXY), which measures the greenback performance against a basket of six major international currencies, is down by 0.17% at 89.72. The index has been moving today in a range …

  Read More »
• 5 January 2021 6:18 pm

  Oil Rises a Dollar on OPEC + Talks to Cut Production and Iranian Tension

  

  Oil prices rose nearly a dollar on Tuesday as tensions escalated after Iran seized a South Korean ship and as OPEC+ considers a possible production cut in February. Brent crude for March delivery increased 96 cents to $52.05 a barrel, while US West Texas Intermediate crude for February delivery was …

  Read More »
• 5 January 2021 5:33 pm

  Britain Postponing Second Dose of Corona Vaccine

  

  The British government has recommended giving a second dose of the vaccine with a gap of 12 weeks instead of two weeks, in an effort to give more people a first dose and some initial protection against Covid-19. Accordingly, BioNTech and Pfizer responded to the decision, saying that there is …

  Read More »
• 5 January 2021 4:50 pm

  Currencies Overview: US Dollar Falls And Yuan Supports High-Risk Currencies

  

  The dollar fell against a basket of major currencies on Tuesday after China raised the official exchange rate of the yuan to its highest level in 30 months, boosting demand for other currencies. The Bank of China set the official midpoint of the yuan at more than 6 per dollar …

  Read More »
• 5 January 2021 4:21 pm

  Turkish Trade Deficit Increased to About $ 50 Billion in 2020

  

  According to data from the Turkish Ministry of Trade, Tuesday, Turkey’s trade deficit increased by more than 69% to about $ 50 billion last year, according to the general trade system. Ministry data showed that imports increased by more than 4% to more than $ 21 billion in 2020, while …

  Read More »
• 5 January 2021 3:21 pm

  Reuters: OPEC+ Document is Considering Cutting Production in February And Other Alternatives

  

  An OPEC document dated January 4, seen by Reuters, showed that the OPEC+ group of oil producers is considering reducing production by 500 thousand barrels per day in February, and three other scenarios include maintaining production at current levels or increasing 500 thousand barrels per day.

  Read More »
• 5 January 2021 2:42 pm

  Strong German Retail Sales in 2020 as Spending Increases

  

  The German statistics office said that the country’s retail sales are expected to grow around 4% in 2020 following a strong performance in November, indicating that consumers have spent money despite the broader economic damage from the coronavirus. The office said Tuesday that retail sales rose about 2% in November, …

  Read More »
• 5 January 2021 2:10 pm

  The UK Providing a New Aid Package of 4.6 Billion Pounds to Businesses Affected by Renewed Lockdown

  

  Britain announced Tuesday a new support package of 4.6 billion pounds ($ 6.2 billion) for businesses affected by the renewed coronavirus lockdown across the country. Finance Minister Rishi Sunak said that retail, hospitality and entertainment companies will be able to claim new one-off grants of up to 9,000 pounds sterling …

  Read More »