Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 9 July 2020 3:19 pm

  Euro is Ready to Return to June highs

  

  The Euro stalled its advance on Dollar Thursday after facing technical resistance and as stock market futures dipped lower across in the US, although the single currency ready to return to June highs before the week is out.  Euro is currently trading at 1.1327, down 0.03% against the US dollar, …

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• 9 July 2020 2:38 pm

  Russia Has no Plans to Hold meeing with Saudi Arabia

  

  Russia has no plans to hold any talks with Saudi Arabia at the present time before OPEC+ ministerial monitoring committee meeting next week’s. Market reaction Oil prices ignored that news and WTI crude was trading at the time of writing at $ 40.75, losing 0.25% on a daily basis. Brent …

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• 9 July 2020 1:14 pm

  UK on course to borrow 350 billion pounds in 2020/21

  

  British government borrowing is on course to surge to around 350 billion pounds ($442 billion) this year following the latest spending measures announced by finance minister Rishi Sunak, the Institute for Fiscal Studies estimated on Thursday. “Back in March, the government forecast a deficit of about 50 to 60 billion …

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• 9 July 2020 12:42 pm

  German Exports Rebounded Less Than Expected

  

  German exports rebounded less than expected in May, as data released on Thursday showed; demand remained weak despite the easing of lockdown measures that had been imposed to contain the spread of the virus. The Federal Statistical Office said that seasonally adjusted exports increased by 9% on a monthly basis …

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• 9 July 2020 12:17 pm

  Sentiment Affects USD

  

  US dollar weakened during early European trading on Thursday, as traders looking towards risky currencies amid expectations of strong economic growth, which reduced the demand for USD as a safe-haven currency. Concerns remain over the outbreak of Covid-19, which keeps the currency pairs in a narrow trading range. However, the …

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• 9 July 2020 11:11 am

  China’s CPI up 2.5% in June

  

  China’s consumer price index (CPI), a main gauge of inflation, rose by 2.5% YoY in June, expanding 0.1 percentage points than May. The percentage was in line with a 2.5% rise tipped by a Reuters poll. Meanwhile, China’s producer price index (PPI), which measures costs for goods at the factory …

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• 9 July 2020 10:32 am

  Gold Fell, Above $ 1,800

  

  Gold fell in the Asian session on Thursday but remained above $ 1,800 for the third day in a row. Gold futures fell 0.04% at $ 1819.95 (3:22 GMT), the yellow metal managed to maintain gains of the previous four sessions. Covid-19 outbreaks and lockdowns resulted in investors going to …

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• 9 July 2020 9:54 am

  FX Option Expiries For July 9 NY Cut

  

  FX option expiries for July 9 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1275 986m1.1300 1.8bn1.1350 569m1.1375 956m1.1250 551m1.1300 1.9bn – USD/JPY: USD amounts          105.80 879m107.10 388m107.25 381m107.50 1.1bn – USD/CAD: USD amounts 1.3500 788m1.3600 888m – NZD/USD: NZD amounts 0.6485 506m0.6520 311m0.6550 345m

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• 9 July 2020 12:52 am

  Wall Street Recovers Losses and Nasdaq Sets New Record

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, after falling on Tuesday, following a record rising streak by the S&P index and Nasdaq breaking new record highs. Today, the Dow Jones Industrial Average gained 177.10 points, or 0.68%, and settled at 26,067.28, giving up earlier gains after nearing …

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• 9 July 2020 12:21 am

  Bullard Sees US Unemployment at 8-7% in 2020

  

  President of the Saint Louis Federal Reserve Bank, James Bullard, expects unemployment in the United States to fall below 8% or 7% by the end of 2020, from a current 11%. Bullard also said in a CNBC intaerview on Wednesday that he is optimistic about the economic recovery.

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• 9 July 2020 12:05 am

  Oil Settles Higher on Rising Gasoline Demand

  

  Oil prices kept its movement within a limited range since the beginning of the week but closed higher on Wednesday. The global benchmark Brent crude futures rose by 21 cents and settled at $43.29 per barrel. Meanwhile, the US benchmark West Texas Intermediate (WTI) futures closed higher by 28 cents …

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• 8 July 2020 11:52 pm

  Fed’s Rosengren: Recovery to Be Slower than Expected

  

  It could take the US economy longer than previously expected to recover from the COVID-19 crisis, said the President of the Boston Federal Reserve Bank, Eric Rosengren, according to Reuters. In addition, Rosengren believes that demand for the Federal Reserve’s Main Street lending program would grow over time. “There are …

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• 8 July 2020 11:06 pm

  Bostic: Economic Activity is Levelling Off

  

  The President of the Federal Reserve in Atlanta, Raphael Bostic, said on Wednesday that “The energy for reopening businesses and for just general activity is starting to level off,” as quoted by Reuters. “This is something we are going to watch extremely closely,” he added.

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