Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 27 August 2020 11:10 pm

  Gold Closes Lower Following Fed Remarks

  

  Gold prices finished Thursday lower, after remarks by the Chairman of the United States Federal Reserve, Jerome Powell, came in line with market expectations. Gold futures for December delivery closed lower by $19.90, or 1%, at $1,932.60 per ounce. The yellow metal has diminished most of its earlier gains, after …

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• 27 August 2020 10:12 pm

  Kaplan: Inflation Could Reach 2.25% or 2.5%

  

  The President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Thursday that a moderate inflation overshoot means reaching a rate of 2.25-2.5%. Kaplan called for focusing on the future instead of the past, and noted that the Fed is expecting a hotter labor market. In addition, Kaplan …

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• 27 August 2020 10:01 pm

  European Stocks Close Lower Following Powell Speech

  

  European stocks closed lower on Thursday, after the recent speech of the United States Federal Reserve Chair Jerome Powell. The Stoxx Europe 600 index declined by 0.58% and closed at 370.96 points. The UK’s FTSE100 index settled lower by 0.75% at 5,999.99. Meanwhile, the French CAC40 and the German DAX …

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• 27 August 2020 9:09 pm

  Democrats Demand Increased Spending for Stimulus Package

  

  The White House need to agree on increased spending for the next COVID-19 stimulus package, said the United States House of Representatives Speaker, Nancy Pelosi, on Thursday. Recently, the President of the United States, Donald Trump, claimed that his administration has saved more than 50 million jobs, through the COVID-19 …

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• 27 August 2020 7:13 pm

  US Pending Home Sales Rise in July

  

  The United States Pending Home Sales Index increased by 5.9% to 122.1 in July, according to data by the National Association of Realtors on Thursday.

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• 27 August 2020 5:57 pm

  UK Car Production Ramps up in July

  

  Data from the auto sector revealed that car production in Britain increased strongly in July, but is still below the level of last year, after manufacturing almost completely stopped in April at the start of isolation measures to combat the Corona virus. The Association of Automobile Manufacturers and Dealers said …

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• 27 August 2020 5:27 pm

  Powell Speech: Fed Not Tying Itself to Any Particular Method to Define Average Inflation

  

  Jerome Powell, Chairman of the Federal Reserve System, is delivering his remarks at the virtual Jackson Hole Economic Policy Symposium titled “Navigating the Decade Ahead: Implications for Monetary Policy.” “Fed not tying itself to any particular method to define average inflation, policy will not be dictated by any formula.”“Fed will …

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• 27 August 2020 5:15 pm

  FOMC Chairman Powell Says Fed Will Target Average Inflation as New Strategy

  

  Jerome Powell, Chairman of the Federal Reserve System, said that the Fed in its new strategy will target average inflation in his prepared remarks at the virtual Jackson Hole Economic Policy Symposium.

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• 27 August 2020 5:06 pm

  FOMC Chairman Jerome Powell’s speech – Live Stream

  

  Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks at the virtual Jackson Hole Economic Policy Symposium at 1310 GMT on Thursday. Powell is expected to discuss the Fed’s monetary policy framework review at the conference titled “Navigating the Decade Ahead: Implications for Monetary Policy.”

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• 27 August 2020 4:52 pm

  US: More Than 1 Million Americans Applied For Unemployment Benefits

  

  There were 1,006,000 Initial Claims for unemployment benefits in the US during the week ending August 22nd, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 1,104,000 (revised from 1,106,000) and came in slightly worse than the market expectation …

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• 27 August 2020 4:41 pm

  US: Real GDP Contracts by 31.7% in Q2

  

  The United States’ Real Gross Domestic Product (GDP) contracted at an annual rate of 31.7% in the second quarter, the US Bureau of Economic Analysis’ second estimate showed on Thursday. This reading came in better than the advance estimate of 32.9% and the market expectation of 32.5%.

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• 27 August 2020 4:23 pm

  Hurricane Laura is The Biggest Threat to America’s Oil Production in 15 Years

  

  After raising it to the fourth category, Hurricane Laura is classified as the biggest threat to US oil in 15 years, in light of the expected damage to the energy infrastructure in the region as the halt of US oil production in the Gulf of Mexico approaches its level during …

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• 27 August 2020 3:22 pm

  Kudlow: Trump Administration is “Satisfied” With China’s Implementation

  

  White House economic adviser Larry Kudlow said Trump administration officials are convinced that China is implementing a “phase 1” trade agreement with the United States, following a high-level phone call to review progress. He added that US Trade Representative Robert Lighthizer is “satisfied” that China has so far implemented the …

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