Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 7 September 2020 1:47 pm

  Oil Falls After Saudi Arabia Cut The Price of Crude

  

  Oil prices fell more than 1% on Monday (September 7th) after hitting the lowest level since July, after Saudi Arabia announced the largest monthly price cut for supplies to Asia in five months, while optimism about a recovery in demand dwindled amid the pandemic. Brent crude was $ 42.11 a …

  Read More »
• 7 September 2020 12:56 pm

  China’s Imports of Crude Oil in August Jump 13% YoY

  

  China’s imports of crude oil in August rose 13% from their level a year ago, supported by large purchase orders earlier in the year when global oil prices collapsed and at a time when customs clearance of shipments delayed in the past due to congestion at ports. Data issued by …

  Read More »
• 7 September 2020 12:50 pm

  European Stocks Start the Week With Strong Performance

  

  European stocks rebounded Monday (September 7th) after turmoil led by Wall Street on tech stocks kept sentiment tepid the previous week, as investors closely followed developments for a COVID-19 vaccine. Australia is expected to receive its first batch of a COVID-19 vaccine in January after it entered into an agreement …

  Read More »
• 7 September 2020 12:45 pm

  Nikkei Index Drops After Nasdaq Turmoil

  

  The Japanese Nikkei Index fell on Monday, September 7th, after Wall Street fell, while SoftBank Group shares tumbled on reports that it had made big bets on US technology stocks as the sector’s rally dissipated. The Nikkei index fell by 0.5% to close at 2,3089.95 points, while the broader TOPIX …

  Read More »
• 7 September 2020 11:10 am

  China Says August Exports Beat Expectations, Jumping 9.5%

  

  Data from the General Administration of Customs in China showed that Chinese exports denominated in dollars exceeded expectations, rising by 9.5% for August compared to last year. Meanwhile, China’s dollar-denominated imports in August were down 2.1% from a year ago. Economists polled by Reuters had expected exports to rise by …

  Read More »
• 7 September 2020 10:23 am

  German Industrial Production Rises 1.2% MoM

  

  Industrial Production in Germany rose less-than-expected in July, the official data showed on Monday, suggesting that the recovery in the manufacturing sector probably lost steam. The industrial output came in at +1.2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 4.8% …

  Read More »
• 5 September 2020 12:27 am

  Wall Street Ends Week in Losses

  

  The New York Stock Exchange (NYSE) finished the week with large losses on Friday’s session, with tech stocks leading the decline and the market seeing strong selling pressures. The Dow Jones Industrial Average declined by 159.42 points or 0.56%, closing at 28,133.31 points, down by 1.8% for the week. The …

  Read More »
• 5 September 2020 12:21 am

  Oil Prices Down 7% in Week on Stronger USD

  

  Oil prices closed lower on Friday, amid mixed expectations for demand recovery, and a rise for the USD, which decline was seen a support factor for crude prices. Brent crude futures for November delivery settled lower by $1.41, or 3.2%, at $42.66 per barrel, raising its weekly decline to 6.9%. …

  Read More »
• 5 September 2020 12:11 am

  US Fed Corrects its Stress Test Results

  

  The United States Federal Reserve issued on Friday a corrected version of its recent stress test results, which were initially published in June 2020. According to the new recalculated results, Goldman Sachs and Morgan Stanley will see lower capital requirements, Reuters reported, as the errors led to miscalculated assumed losses …

  Read More »
• 5 September 2020 12:07 am

  Gold Settles Lower with 2.1% Weekly Loss

  

  Gold prices declined on Friday for the third consecutive day, turning to weekly losses. Gold futures for December delivery closed lower by $3.50, or 0.2%, at $1,934.30 per ounce. This is the lowest closing level for the yellow metal futures since August 27, logging a 2.1% weekly decrease. Meanwhile, silver …

  Read More »
• 4 September 2020 9:45 pm

  UK Economy May Need Extra Stimulus

  

  The British economy may need extra stimulus in order to face the effects of the COVID-19 crisis, said member of the Bank of England’s (BoE) Monetary Policy Committee, Michael Saunders, Reuters reported. “I consider it quite likely that additional monetary easing will be appropriate in order to achieve a sustained …

  Read More »
• 4 September 2020 9:28 pm

  European Stocks Post 1.9% Weekly Decline

  

  European stocks closed lower on Friday, erasing earlier gains and turning to losses for the week, due to huge losses by tech stocks in Wall Street. The pan-European Stoxx 600 index finished lower by 1.1%, registering weekly losses of 1.9%. The UK’s FTSE100 lost 0.88% for the day and recorded …

  Read More »
• 4 September 2020 9:19 pm

  Congress to Approve Federal Government Funding

  

  The Trump administration has reached an agreement with the US Congress to provide funding for the federal government after the end of the month, avoiding a government shutdown, Vice President Mike Pence reportedly told CNBC on Friday. “The agreement reached this week by the Treasury secretary and our negotiation team …

  Read More »