Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 26 August 2020 2:07 pm

  Gold Fell as Dollar Rose, Fed in Spotlight

  

  Gold fell on Wednesday, August 25, as the dollar rose, while investors awaiting a speech by Jerome Powell, President of the US Federal Reserve, to obtain indications about the monetary strategy, but concerns about the global economy, which is hit by the Coronavirus pandemic, kept prices above the level of …

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• 26 August 2020 1:53 pm

  Brent Rises on US Production Cuts and Hopes of a Trade Deal With China

  

  Brent crude prices rose on Wednesday, August 26th, supported by US producers halting most of the offshore production from the Gulf of Mexico before Hurricane Laura and optimism about Sino-US trade talks. Gains were limited by renewed fears about the Coronavirus pandemic, which reduced demand for fuel after reports of …

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• 26 August 2020 12:55 pm

  API: Larger Than Expected Drop in US Oil and Gasoline Inventories

  

  Data from the American Petroleum Institute showed that inventories of both crude oil and gasoline in the United States recorded a larger-than-expected decline last week, while distillate stocks rose. Crude inventories fell by 4.5 million barrels in the week to August 21 to about 507.5 million barrels, while analysts had …

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• 26 August 2020 11:50 am

  Oil Producers Stop Pumping 84% of US oil Production in Gulf of Mexico

  

  The US Department of the Interior said that oil producers stopped pumping 1.56 million barrels per day, or 84% of daily production, from US offshore platforms in the Gulf of Mexico ahead of a hurricane expected to hit the region this week. Hurricane Laura is heading north in the central …

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• 26 August 2020 11:37 am

  PBOC Sets Yuan Reference Rate at 6.9079

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9079 versus Tuesday’s fix at 6.9183.

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• 26 August 2020 11:32 am

  Crude Oil Futures Lower During Asian Session

  

  According to the New York Mercantile Exchange, crude oil futures for October were traded at $43.35 a barrel, up 0.00%. It was previously traded lower at $43.23 a barrel. Crude oil may find support at $41.46 and resistance at $43.56. The dollar index, which measures the performance of the greenback …

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• 26 August 2020 10:53 am

  Natural Gas Futures

  

  CME Group’s preliminary readings for Natural Gas futures markets noted open interest shrunk by almost 4.5K contracts on Tuesday, reaching the second drop in a row at the same time. Volume, in the same direction, went down for the second consecutive session, now by nearly 44.8K contracts.

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• 26 August 2020 10:51 am

  Gold Futures Declined During Asian Session

  

  According to the COMEX, gold futures were traded for December at $ 1931.50 per ounce, down 0.44%. It previously traded at a session low$ 1929.70 an ounce. Gold may find points of support at $ 1916.60 and resistance at $ 1970.30. The dollar index, which measures the performance of the …

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• 26 August 2020 10:48 am

  FX Option Expiries For Aug 26 NY Cut

  

  FX option expiries for Aug 26 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1775 792m1.1830 689m – GBP/USD: GBP amounts         1.3150 385m  – USD/JPY: USD amounts          105.00 3.2bn105.40 839m105.50 383m105.75 1.1bn106.00 1.1bn106.15 420m106.50 399m106.60 570m107.03 1.3bn107.10 394m – AUD/USD: AUD amounts 0.7250 732m …

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• 26 August 2020 1:33 am

  API: US Oil Inventories Down 4.5 M Barrels

  

  Estimates by the American Petroleum Institute (API) showed on Tuesday that crude oil inventories in the United States decreased by 4.5 million barrels last week. This would be the fifth consecutive weekly decline in US crude oil stockpiles, amid output disruptions in the Gulf of Mexico due to Hurricane Laura.

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• 26 August 2020 1:20 am

  NYSE Closes Mixed with S&P and Nasdaq Breaking New Records

  

  The New York Stock Exchange (NYSE) showed a mixed performance on Tuesday, but with the S&P 500 and the Nasdaq continued to achieve new record highs. The Dow Jones Industrial Average declined by 0.21% to close at 28,248.44. The S&P 500 index added 12.34 points, or 0.4%, and finished at …

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• 25 August 2020 11:50 pm

  USD Maintains Downward Trend

  

  The Dollar index (DXY) continues to maintain its decline for another day as it is closed to finish Tuesday’s session down by 0.31% a little above the 93 mark. The DXY measures the performance of the US Dollar (USD) against a basket of six major currencies. The USD is down …

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• 25 August 2020 11:44 pm

  Oil Prices Finish Higher

  

  Oil prices closed higher on Tuesday, continuing to gain support from output disruptions due to weather conditions at the Gulf of Mexico. West Texas Intermediate (WTI) finished higher by 73 cents at $43.35 per barrel, or its highest level since March 5. Meanwhile, the global benchmark Brent crude futures for …

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