Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 8 July 2020 6:05 pm

  Sterling Settles Below Mid-1.2500s

  

  Sterling saw both-way movements on Wednesday, but it appears that it has now settled in the neutral territory 1.2540-35. After an early rally to 1.2565-70 region, the pair experienced a slight decline during the European session and was affected by buying around USD. The increasing number of Covid-19 cases provided …

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• 8 July 2020 5:19 pm

  EIA Revised its Forecasts for Oil Prices

  

  The US Energy information administration revised its forecasts for oil prices this year and next year, as US crude is expected to rise 6.9% this year compared to last June’s forecast, to $ 37.55 a barrel. The administration also expected that the average American oil price will increase by 4.1% …

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• 8 July 2020 4:52 pm

  ECB’s de Guindos: Optimism Sparked by Recent Data is Justified

  

  European Central Bank (ECB) Vice President Luis de Guindos provided insights on euro zone growth and coronavirus economic impact on the block. Recent data justifies optimism over the euro area’s growth amid the coronavirus crisis. The euro zone economy is facing a deep recession, but banks across the euro area …

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• 8 July 2020 3:27 pm

  UK to Announce More Stimulus

  

  The UK government is expected to announce more fiscal stimulus measures, which include 3B pounds to improve energy efficiency in homes and commercial property, 1.5B to support industry, arts and entertainment, and 2B to support wages for the young. There were also reports that transaction tax on homes will be partially …

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• 8 July 2020 3:20 pm

  US Stocks Are Set to Open Lower

  

  US shares are set to open flat to lower after it halted a five-day winning streak yesterday, on the increase of Covid-19 cases that raises concerns about the economy and the future of growth By 10:30 GMT, S&P 500 Futures were down less than 0.1%, Dow Jones futures down 0.1% …

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• 8 July 2020 2:33 pm

  Oil Prices Fell with Oversupply Concerns

  

  Oil prices fell in trading on Wednesday, with expectations of an increase in crude oil inventories and a decline in oil prices due to lack of physical demand and fears over coronavirus pandemic that renewed concerns about the persistence of oversupply. Brent crude for September delivery fell 0.3% to $ …

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• 8 July 2020 2:15 pm

  EU Says Is Assessing City’s Financial Market Access

  

  Andrea Beltramello, a European Commission official, told an FIA online event that equivalence assessments for the UK financial services market access are ongoing and take into account how far the United Kingdom will diverge from the bloc’s rules, a European Commission official said on Wednesday. Quotes“Taking into account how far …

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• 8 July 2020 1:15 pm

  Gold Breaks Above $1,800

  

  Gold reached $1,800, hitting the highest level since November 2011, surpassing a previous high of $ 1797, and it is now functioning as support. Investors are looking for levels of 1,810 then 1,825, 2011 peaks at under the spotlight at 1,921 and 2000. Gold is ready to post more bullish …

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• 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 …

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• 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 …

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• 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 …

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• 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

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• 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 …

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