Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 23 July 2020 12:12 pm

  Oil Prices Are Rising But Fears Limit Gains

  

  Oil prices rose on Thursday, but an unexpected increase in US crude stocks and the continued increase in new cases of Covid-19 discouraged the recovery in demand for fuel and limit gains. US crude oil inventories and distillates rose unexpectedly while fuel demand fell last week, the US Energy Information …

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• 23 July 2020 11:42 am

  US Existing-Home Sales jump in June

  

  Previously occupied home sales increased by 20.7% from May to June while mortgage applications rose 19% last week. The figures were near a historic low but markets did not react to higher home sales. Existing home sales, the largest category in the US market, increased by 20.7% in June as …

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• 23 July 2020 11:21 am

  Saudi Arabia’s Oil Exports Fall 65% in May

  

  Citing official data, Reuters reported that oil exports from Saudi Arabia, the OPEC’s top producer, fell by 44,277 million riyals (USD12 billion) or 65.0% in May 2020. In the face of the falling oil exports and its revenue, Saudi’s Finance Minister Mohammad Aljadaan said at a video forum hosted by …

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• 23 July 2020 10:44 am

  FX Option Expiries For July 23 NY Cut

  

  FX option expiries for July 23 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1470 876m1.1500 1.2bn1.1550 823m – USD/JPY: USD amounts          108.25 500m  – NZD/USD: NZD amounts 0.6750 236m – EUR/GBP: EUR amounts 0.9060 394m 

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• 23 July 2020 12:37 am

  Daily Recap: Wednesday, July 22, 2020

  

  Demand on safe havens increased on Wednesday, with rising tensions between the United States and China escalating to the closure of the Chinese consulate in Houston, which left a toll on the USD. Meanwhile, gold and silver maintained their record-breaking rallies, while oil prices were affected by a rise in …

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• 23 July 2020 12:27 am

  NYSE Indices Close in Green

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, despite worries about the tensions between the United States and China. The Dow Jones Industrial Average DJIA gained 165 points, or 0.6%, to settle at 27,006, its best level in nearly six weeks. The S&P 500 index settled by 0.6% …

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• 23 July 2020 12:16 am

  Oil Settles Marginally Lower

  

  Oil prices settled slightly lower on Wednesday after data showed a surprise buildup in US crude inventories, coupled with concerns regarding the increased number of COVID-19 cases. US benchmark crude, the West Texas Intermediate (WTI), futures for September settled lower by 0.05% at $41.90 per barrel, recovering most of its …

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• 23 July 2020 12:08 am

  Brazil Expects Increased Budget Deficit

  

  The Brazilian government has revised its primary budget deficit forecast for 2020 to BRL 787.4 billion ($154 billion) from a previous BRL 540.5 billion, Reuters reported. Public revenues are expected to steady at BRL 1.2 trillion. Meanwhile, primary spending is forecast to increase by BRL 229.3 billion to BRL 1.98 …

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• 22 July 2020 11:56 pm

  CAD Gains After Inflation Data

  

  The Canadian Dollar (CAD) showed a strong performance on Wednesday, making the best use of its US rival weakness. Earlier today, data by Statistics Canada showed that the Canadian annual consumer price index (CPI) rose more than expected in June. The CPI rose by 0.7% year-on-year in June, compared with …

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• 22 July 2020 11:25 pm

  EUR/USD Maintains Some Momentum

  

  The Euro rose on Wednesday to its highest level since October 2018 against the US Dollar, maintaining the momentum it gathered from the European Union’s agreement on a COVID-19 recovery fund, especially as demand for safe havens increased. After rising by 0.5% earlier, the EUR/USD is currently trading at 1.15696, …

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• 22 July 2020 10:54 pm

  Gold Settles at Highest Level Since 2011

  

  Gold prices surged on Wednesday, for the fourth session in a row, supported by increased demand for safe havens amidst rising tensions between the United States and China. The yellow metal August futures settled higher by $21.2, or 1.2%, at $1,865.10 per ounce. Similarly, silver prices rallied by 7.4% to …

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• 22 July 2020 8:29 pm

  European Stocks Close Lower on COVID-19 Worries

  

  European stocks declined on Wednesday, with the positive impact from the European Union’s recovery deal appearing to fade out in the face of the rising number of COVID-19 cases, despite the US signing a huge deal for obtaining a newly-developed vaccine. The pan-European Stoxx 600 index settled lower by 0.89%, …

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• 22 July 2020 8:15 pm

  Reshetnikov: Russia’s GDP Declines by 4.2% in H1

  

  The Russian gross domestic product (GDP) declined by 4.2% in the first half (H1) of 2020, according to Russia’s Minister of Economy, Maxim Reshetnikov. The ministry reportedly expects the economy to retreat by 4.8% in 2020 and expects the recovery to the pre-COVID-19 levels to take place by the fourth …

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