Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 29 July 2020 1:19 pm

  Japan GDP to Shrink This Year, Coronavirus Cases Rise Across The Country

  

  Japan’s government expects the economy will contract this year as activity slowly recovers after it was hit by the coronavirus crisis, shile forecasting a return to growth next year, according to Reuters, citing government resources. One of the sources told Reuters that “the government sees GDP shrinking in the current …

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• 29 July 2020 12:48 pm

  AUD/USD Jumps to Test 15-Month Highs

  

  AUD/USD is trying to test 15-month highs at 0.7183 for the third consecutive session on Wednesday with support from selling-off in the US dollar. The Australian dollar bounced from its daily low of 0.7149 for a short period after the CPI data came in against expectations in the Q2 in …

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• 29 July 2020 12:11 pm

  Oil Rises After Surprise drop in U.S. Inventories

  

  Oil prices rose on Wednesday after a report showed that crude oil inventories in the United States fell against expectations, giving the market some support amid large increases in Covid-19 cases in the United States. Brent crude futures rose 14 cents, or 0.3%, to $ 43.36 a barrel at 03:26 …

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• 29 July 2020 11:21 am

  European Stocks Set to Open Lower

  

  European stock markets set to open lower on Wednesday with doubts over the timing of stimulus in the United States while eyes in Europe over reports from Deutsche Bank, Barclays and Santander in the banking sector. At 06:05 GMT, the German DAX futures were trading lower 0.1%, the French CAC …

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• 29 July 2020 10:47 am

  US Dollar Near 2020 Lows

  

  The US dollar, measured by the US Dollar Index (DXY), resumed the downtrend on Wednesday and is approaching its lowest near 93.50. The index quickly retracted its lead on Tuesday as sellers dominated the market and sentiment surrounding the dollar. The dollar remains under intense pressure as traders maintain the …

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• 29 July 2020 10:29 am

  Asian Stocks Mixed

  

  Asian stocks are struggling to get a steady direction with trading quietly ahead of Wednesday’s Fed meeting. The Nikkei came out with the news that the Japanese government’s plan to reduce the economic outlook for GDP for the year 20/21. Fitch downgraded Asian Majors’ Outlook to negative but the rating …

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• 29 July 2020 10:00 am

  FX Option Expiries For July 29 NY Cut

  

  FX option expiries for July 29 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – USD/JPY: USD amounts          105.00 992m  – NZD/USD: NZD amounts 0.6650 203m0.6675 969m

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• 29 July 2020 1:28 am

  Italy to Extend State of Emergency

  

  The Italian Senate approved on Tuesday a request by Italy’s Prime Minister Giuseppe Conte to extend the state of emergency until October 15, in order to maintain preventive measures against the COVID-19 crisis. The move was supported by 157 votes and opposed by 125, Reuters reported. A six-month state of …

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• 29 July 2020 12:48 am

  US Treasury Yields at Three-Month Low

  

  The US Treasury yields declined on Tuesday, ahead of the Federal Reserve’s Federal Open Market Committee (FOMC) July meeting releasing its policy statement tomorrow. Although no changes in interest rates are expected, the meeting is set to reveal more details about recent developments in the US monetary policy. The 10-year …

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• 29 July 2020 12:40 am

  NYSE Settles Lower Ahead of Fed Meeting

  

  The New York Stock Exchange (NYSE) settled lower on Tuesday, as concerns regarding the COVID-19 pandemic continues to curb investors’ risk appetite, reflected by the rising demand for safe havens with gold prices reaching unprecedented levels. In addition, the market is anticipating the Federal Reserve meeting, in which it is …

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• 29 July 2020 12:05 am

  Oil Futures Close at Lowest Level in Week

  

  Oil prices declined on Tuesday to settle at their lowest level in a week, ahead of the release of the US inventory data by the American Petroleum Institute (API). The global benchmark Brent crude futures for September delivery declined by 19 cents or 0.4% and finished at $43.22 per barrel, …

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• 28 July 2020 11:48 pm

  Bitcoin Trading Little Below $11,000

  

  After rising above the $11,000 mark earlier today, the price of Bitcoin declined by 2.4% to trade at $10,986.10. Earlier today, Bitcoin rose by $1,268 or 12.7% to trade as high as $11,203.90, reaching its highest level in six months. Meanwhile, Ethereum is down by 1.6% at $317.48. Bitcoin Cash …

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• 28 July 2020 11:00 pm

  Gold Finishes at New Record High

  

  Gold prices settled higher on Tuesday after recovering from brief losses, achieving a new record high closing level for the third consecutive session. Concerns regarding the COVID-19 pandemic, as reflected by the decline in the US consumer confidence index, have spurred demand for safe havens. Gold futures for August delivery …

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