Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 22 July 2020 8:05 pm

  US Oil Stocks Rise and Prices React with 1.3% Decline

  

  Crude oil inventories in the United States increased by 4.9 million barrels during the week ending July 17, according to data by the US Energy Information Administration (EIA) on Wednesday. A decline between 575,000 and 1.9 million barrels was expected by market experts and surveys. On Tuesday, data by the …

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• 22 July 2020 7:18 pm

  US Home Sales Post New Record Increase

  

  Home sales in the United States registered its highest rise on record last month, due to historically low mortgage rates, according to data by the National Association of Realtors, Reuters reported. Existing home sales in the US increased by 20.7% on a monthly basis to a seasonally adjusted annual rate …

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• 22 July 2020 6:06 pm

  ECB Lagard: EU’s Fiscal Package Could’ve Been Better, But Reasonable

  

  On Tuesday, the EU member states approved a 750 billion euro recovery fund which included 360 billion euros in loans and 390 billion euros in grants. The money will be raised collectively by selling bonds. European Central Bank (ECB) President Christine Lagarde talks on Wednesday, she said that the fact …

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• 22 July 2020 5:39 pm

  Canada: Annual CPI in June Climbs to 0.7%

  

  Canada’s annual consumer price index rose more than expected in June as data released by Statistics Canada on Wednesday showed that Canada’s inflation, measured by the CPI, rose 0.7% year-on-year in June, above market expectations of 0.2% monthly basis. The consumer price index reached 0.8%. The USD/CAD pair remains in …

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• 22 July 2020 5:30 pm

  House Prices in US Retreats in May

  

  House prices in the United States of America fell during last May missing expectations. Data released by the Federal Housing Finance Index on Wednesday showed that house prices increased by -0.3% MoM, compared to 0.1% in the previous April. Analysts had expected US house prices to rise by 0.4% in …

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• 22 July 2020 4:30 pm

  Baker Hughes Announces Q2 Loses

  

  Baker Hughes Oilfield Services announced on Wednesday that it posted its second quarterly loss this year and warned that it was preparing for a longer period of fluctuation after falling oil prices undermined demand for services. The net loss attributable increased to $ 201 million, or 31 cents per share, …

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• 22 July 2020 3:49 pm

  Oil fell on US Inventories

  

  Oil prices rose on Tuesday, with a larger-than-expected increase in US, and the increase in cases of Covid19 may lead to an increase in fuel demand in the largest oil consumer in the world. Brent crude futures for September delivery are currently trading at $ 44.29 a barrel, down by …

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• 22 July 2020 2:29 pm

  China Closes Its Consulate in Houston on US Decision

  

  The US has abruptly informed China to close its consulate in Houston in the next 72 hours on Tuesday, July 21. The geopolitical tensions intensified on this news, as China’s foreign ministry urged the US to correct this mistake, or otherwise, there will be retaliation. The State Department’s spokesperson Morgan …

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• 22 July 2020 1:14 pm

  China’s Economy Recovers, PBOC Pausing Stimulus

  

  As the world’s second-largest economy rebounds, People’s Bank of China (PBOC) is pausing its monetary policy easing, Reuters reported, citing four sources on the matter. The report says that the PBOC doesn’t see the need to ease further amid the economic recovery. Earlier this year, China’s central bank took extensive …

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• 22 July 2020 12:30 pm

  European Stocks Decline

  

  European stocks fell on Wednesday, with earnings reports and traders waiting for the United States to agree its latest stimulus package. At 07:55 GMT, the German DAX edged up 0.5%, the FTSE gained 0.6%, and the French CAC added 1%. A day after European leaders signed the historic € 750 …

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• 22 July 2020 11:50 am

  Covid-19 Update: Cases to 15 Million

  

  Reports released on Wednesday morning showed that Covid-19 cases around the world reached 15 million cases, 230 thousand new cases since Tuesday, while about 17 thousand cases were registered this morning, bringing the total to 15,107,017 cases. On the other hand, the death toll has risen to 619,812 cases, while …

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• 22 July 2020 11:41 am

  Australia retail sales rose in June

  

  Preliminary data from Australia showed retail sales rose 2.4% MoM in June, compared to May’s 16.9%. Rises in Cafes, restaurants and takeaway food services exceeded 20% MoM for the second consecutive month, while Clothing, footwear and personal accessory retailing rose around 19% MoM

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• 22 July 2020 10:54 am

  Japan June Industrial Output is Seen Rebounding

  

  A Reuters poll of 13 economists showed that Japanese industrial output likely rebounded in June, indicating that factory activity may have reached the base of the deep recession caused by the pandemic. A relatively slight recovery in factory production will signal a modest economic recovery in the future. The Ministry …

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