Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 8 July 2020 12:14 pm

  Pound Rises Above 1.2250

  

  British Pound higher against USD just above 1.2550, 0.08% on a day, the highest level since June 17, the cable (GBP/USD) was drawing a bullish picture on 4-hours chart with a bullish momentum. The cable broke above a downtrend support line that capped it since late June. Resistance awaits at …

  Read More »
• 8 July 2020 11:44 am

  USD Maintains its Gains as Worries Dominate The Market

  

  USD keep its gains on Wednesday as headlines of an increase in Covid-19 cases in US and lockdown measures in some countries provided the demand for the greenback. Federal Reserve officials have expressed fears that economic growth will be affected by the continued rise of Covid-19 cases in the country …

  Read More »
• 8 July 2020 10:43 am

  Forex Today: Gold Eyeing $1,800 and USD Mixed

  

  Markets are looking for a new direction after stocks tumbled and the dollar appreciated on Tuesday. Concerns about Covid-19 cases in the US and geopolitical tensions remain dominant. After the number of cases declined on Monday, the cases of Covid-19 increased again in the United States on Tuesday. New cases …

  Read More »
• 8 July 2020 10:00 am

  FX Option Expiries For July 8 NY Cut

  

  FX option expiries for July 8 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1250 551m1.1300 1.9bn – USD/JPY: USD amounts          107.45 352m107.50 1.9bn107.55 915m108.00 525m108.40 550m108.50 400m – AUD/USD: AUD amounts 0.6975 513m  – NZD/USD: NZD amounts 0.6525 264m

  Read More »
• 8 July 2020 12:48 am

  NYSE Retreats and Closes in Red

  

  The New York Stock Exchange (NYSE) settled significantly lower on Tuesday, after achieving large gains during the first session of the week on Monday. The Dow Jones Industrial Index closed dropped nearly 397 points or 1.51% and closed at 25,890 points. The S&P 500 index fell by 34.4 points or …

  Read More »
• 8 July 2020 12:37 am

  Oil Prices Stable near Yesterday’s Levels

  

  Crude oil prices settled lower on Tuesday, as markets anticipate US crude inventories data. Brent crude oil futures for September delivery declined by 2 cents to close at $43.08 per barrel. The benchmark US crude oil, the West Texas Intermediate (WTI), futures for August delivery decreased by 1 cent to …

  Read More »
• 8 July 2020 12:25 am

  Barkin: Halting Gov’t Support Poses Real Risks

  

  The President of the Richmond Federal Reserve, Thomas Barkin, said on Tuesday that the US economy faces some very real risks if support to businesses does not continue. Barkin believes the Fed should do more given the current high unemployment rate at 11%.

  Read More »
• 8 July 2020 12:17 am

  Clarida: Fed Could Do More to Face Recession

  

  The US Federal Reserve could take more measurements to face the economic consequences of the coronavirus disease (COVID-19) crisis. “We have a lot of accommodation in place, there is more that we can do, there is more that we will do,” Federal Reserve Vice Chairman Richard Clarida told CNN on …

  Read More »
• 8 July 2020 12:04 am

  Daly: Higher Inflation Could be Good Thing

  

  The President of San Francisco Federal Reserve, Mary Daly, said that the US labor market is in better shape she previously thought it might be, “but it’s nowhere close to where we need to be.” “I am assuming that we’ll level off at some level that’s not where we want …

  Read More »
• 7 July 2020 10:40 pm

  EIA: US Oil Production Seen at 11.64 M bpd in 2020

  

  The United States crude oil production is expected to decline by 600,000 barrels per day (bpd) in 2020 to 11.63 million bpd and 11.01 million bpd in 2021, according to a report by the US Energy Information Administration (EIA) on Tuesday. EIA was previously forecasting a 670,000 bpd decline, Reuters …

  Read More »
• 7 July 2020 10:29 pm

  European Stocks Settle Lower

  

  European Stocks closed Tuesday in red, as the pan-European Stoxx 600 index closed down by 0.6% due to losses by tech companies, mixed economic data, and gloomy economic forecasts. The main index of the London Stock Exchange (LSE), FTSE100, lost 1.53% and settled at 6,189.9. Meanwhile, the French index CAC40 …

  Read More »
• 7 July 2020 10:09 pm

  Gold Prices Close at Highest Level Since 2011

  

  Gold futures settled on Tuesday at a new record level that is the highest since September 2011. Gold futures for August delivery increased by $16.40, or 0.9%, to settle at $1,809.90 per ounce. The yellow metal rose earlier today to the $1,810 level. Spot gold is currently trading at $1,795.85, …

  Read More »
• 7 July 2020 8:23 pm

  Spain and Germany to Discuss EU COVID Fund

  

  The Prime Minister of Spain, Pedro Sanchez, is set to meet with German Chancellor Angela Merkel to discuss the European Union (EU) recovery fund. “Spain’s future is at stake in the coming days,” said the Spanish government spokeswoman Maria Jesus Montero, Reuters reported. German Chancellor Angela Merkel recently said that …

  Read More »