Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2021

• 18 November 2021 12:23 am

  EIA: US Crude Stockpiles Fall

  

  US crude stocks fell unexpectedly last week as refineries, enjoying strong margins due to higher fuel prices, ramped up output ahead of the winter heating season, the Energy Information Administration said on Wednesday.Crude inventories dropped by 2.101 million barrels last week, compared with analysts’ expectations for a build of 1.398 …

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• 18 November 2021 12:19 am

  USD/CAD Records Fresh Highs

  

  USD/CAD practically touched fresh highs at 1.2610 on Wednesday. The pair could slightly eclipse last week’s 1.2604 high and has since dropped back from session extremes a little.Crude oil markets have encountered pressure in recent hours, with WTI and Brent both now down by more than $2.0 during US session …

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• 17 November 2021 11:19 pm

  Bitcoin Fluctuates As Traders Decelerate Speculation

  

  Bitcoin fluctuated around a key inflection point of $60,000 on Wednesday as traders appeared to rein in excessive speculation that is sent the world’s largest cryptocurrency to a record last week.Bitcoin has dropped roughly 13% from its all-time high of $68,990, recorded on Nov. 10, dipping below $60,000 on Wednesday.The …

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• 17 November 2021 10:47 pm

  Visa Inc. Drags Card Industry Shares Lower

  

  About $25 billion in value erased from Visa’s market cap. Other cards stocks including Mastercard and Amex have declined. Not only did Visa Inc. severely drop on Wednesday, but also dragged down industry peers such as Mastercard Inc., after Amazon had announced it will stop accepting purchases made with the …

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• 17 November 2021 10:30 pm

  Fed’s Williams: Treasury Market Need Support for Next Big Shock

  

  The New York Federal Reserve took unprecedented action to stabilize the Treasury market after it was disrupted at the start of the pandemic.Offering a stark reminder that markets need to be strengthened to get prepared for the next big shock, New York Fed Bank President John Williams said on Wednesday.In …

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• 17 November 2021 9:59 pm

  Why is Biden Touring General Motors Plant?

  

  President Joe Biden, Wednesday is planning to tour a General Motors plant in Detroit, Wednesday, as he continues to sell the benefits of the recently signed $1 trillion infrastructure law. Biden is expected to highlight $7.5 billion in the new law automobile technology.Biden on Wednesday will visit a General Motors …

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• 17 November 2021 8:48 pm

  Tech Shares Lead Wall Street Slump

  

  The Dow Jones Industrial Average dropped 150 points Wednesday, as Lucid Motors and Rivian skidded in morning trade. Tesla stock rallied, extending Tuesday’s gains. And Nvidia earnings are due after the stock market close.U.S. shares were trading modestly lower on Wednesday, a day after a positive session on Wall Street, …

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• 17 November 2021 8:09 pm

  Official: Germany Must Cut Economic Dependency On China

  

  According to acting Health Minister Jens Spahn, Wednesday, the current pandemic increased Germany’s economic dependency on China in many sectors.Spahn added that an open discussion is needed on how to reduce an over-reliance on Asia’s rising giant.“We have experienced and had to experience how dependent we have become on China,” …

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• 17 November 2021 7:38 pm

  Treasury Yields React To Housing Starts

  

  U.S. Treasury yields briefly inched higher on Wednesday morning, following the October housing starts and building permits report.The yield on the benchmark 10-year Treasury note ticked up less than a basis point to 1.639% at 9:50. The yield on the 30-year Treasury bond edged 1.6 basis points higher to 2.036%. …

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• 17 November 2021 6:35 pm

  Market Drivers – European Session 17-11-2021

  

  The European session on Wednesday was mostly flat. Gold is now at $1,863.61 an ounce, up 0.7%, while gold contracts are at $1,865.7 an ounce, up 0.63%. As for the US dollar index DXY, which measures the currency’s strength against a basket of foreign currencies, it recorded 95.86, with a …

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• 17 November 2021 5:47 pm

  Annual CPI Rises to 4.7% in October

  

  The annual rate of headline Consumer Price Inflation (CPI) in Canada rose to 4.7% in October, in line with median economist forecasts and up from 4.4% in September, according to data published by Statistics Canada on Wednesday. MoM, headline CPI rose at a pace of 0.7%, also in line with …

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• 17 November 2021 4:43 pm

  The Dollar is Near Multi-Month Highs

  

  The dollar traded higher on Wednesday, benefiting from the strong retail sales during the previous session, while the Pound rallied after the release of sharp inflation that signaled a December rate hike from the Bank of England. The dollar index, which measures the greenback against a basket of six other …

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• 17 November 2021 4:16 pm

  Target Exceeding Expectations at About $3 Per Share

  

  Target said fiscal third-quarter 2021 sales jumped 13% as shoppers head for Halloween costumes and back-to-school supplies and look for holiday gifts early. Earnings per share amounted to $3.03, adjusted against expectations of $2.83, and the company recorded revenues of $25.65 billion, compared to $24.78 billion.

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