Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 2 July 2020 11:06 am

  Russian Oil Output Falls to 9.32 mln bpd in June, Approaching OPEC+ Target

  

  Russian oil and gas condensate production fell to 9.32 million barrels per day (bpd) in June from 9.39 million bpd in May, near its target under a deal with the OPEC+ group, Interfax news agency reported on Thursday, citing energy ministry data. The production of oil and gas condensate per …

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• 2 July 2020 1:59 am

  Oil Prices Settle Higher on Decline in US Inventories

  

  Oil prices closed higher on Wednesday, after data showed a decline in the United States crude inventories last week. Brent Crude increased by $0.76 or 1.84% to close at $42.03 per barrel, while the WTI crude futures settled higher by $0.55 or 1.4% at $39.82 a barrel. The US crude …

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• 2 July 2020 1:50 am

  Gold Settles Lower by 0.6%

  

  Gold prices declined on Wednesday, giving up its highest level in about eight years, after positive economic data in the United States and news about a vaccine for the coronavirus disease (COVID-19) lowered demand for safe havens. The price of spot gold fell by around 0.6% to $1,770 per ounce, …

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• 2 July 2020 1:27 am

  S&P 500 and Nasdaq Maintain Gains, Dow Closes Lower

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, with investors growing optimistic about news of a potential vaccine for the coronavirus (COVID-19). The S&P 500 index gained 0.50%, and the NASDAQ Composite Index increased by 0.95%, while the Dow Jones Industrial Average closed lower by 0.3%. A COVID-19 …

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• 2 July 2020 12:45 am

  USD Down as Safe Haven Demand Falters

  

  The US Dollar (USD) declined on Wednesday against major currencies, with improved economic data in the United States and the UK has decreased the demand on the green currency as a safe haven. An increased risk appetite helped the AUD and NZD rise against the USD. The USD/JPY is now …

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• 2 July 2020 12:25 am

  GBP Gains on USD Retreat

  

  The British Pound (GBP) achieved gains on Wednesday, as demand for the USD as a safe haven faded despite positive economic data in the United States. GBP is up by 0.43% against the Euro, and by 0.60% against the USD. Earlier, data showed that the UK manufacturing sector is showing …

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• 2 July 2020 12:01 am

  Fed Meeting Minutes Show Commitment to Facing COVID-19 Recession

  

  Members of the US Federal Reserve Board have agreed to use all of the tools at their disposal to help push the economy out of recession, as shown by the meeting minutes of their most recent meeting, which took place on June 9-10. The US economy entered into a recession …

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• 1 July 2020 11:27 pm

  WHO Calls for Effective Approaches in Facing COVID-19

  

  The World Health Organization (WHO) on Wednesday warned against ineffective approaches in combating the coronavirus disease (COVID-19). Some countries face a long, hard road ahead in the fight against the pandemic, said the WHO Director-General Tedros Adhanom Ghebreyesus, as reported by Reuters. “Countries that have the systems in place to …

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• 1 July 2020 10:52 pm

  European Stocks Rise on COVID-19 Vaccine Hopes

  

  Hopes for a vaccine for the coronavirus disease (COVID-19) have helped European stocks close Wednesday higher, as the pan-European STOXX Europe 600 index gained 0.2%. In the Frankfurt Stock Exchange, the DAX30 index fell by 0.41%. In Paris and London, the French CAC40 and the FTSE100 indexes lost 0.19% each. …

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• 1 July 2020 8:54 pm

  Wall Street Gains on Positive Data

  

  The New York Stock Exchange (NYSE) opened Wednesday in gains, supported by positive economic data and developments in the search for a vaccine against the coronavirus disease (COVID-19). The Wall Street indices are all green at the moment, with the Dow Jones Industrial Average Index up 0.26%, the NASDAQ Composite …

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• 1 July 2020 7:18 pm

  ISM Manufacturing PMI Beats Expectations for June

  

  The purchasing managers’ index (PMI) for the manufacturing sector in the United States increased to 52.6 in June, as shown by the data of the Institute for Supply Management (ISM). This comes after the index recorded 43.1 in May and was expected to register 49.5 and remain in the contraction …

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• 1 July 2020 6:50 pm

  US Oil Inventories Down 7.2 M Barrels in Week

  

  The United States crude oil inventories decreased by 7.195 million barrels during the week ended June 26, according to data by the US Energy Information Administration (EIA) released on Wednesday. This is the first decline in US oil inventories after three consecutive weekly increases. The decrease exceeded the expectations of …

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• 1 July 2020 5:57 pm

  Mortgage Demand Drops for Second Week in US

  

  Mortgage applications for home purchases fell for the second consecutive week, down 1% from the previous week Refinancing Demand decreased by 1% for the week, but 74% higher than a year ago. Mortgage applications for homebuyers have been declining over the past two months, even as mortgage rates drop. The …

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