Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 21 August 2020 6:01 pm

  US: Markit Manufacturing PMI Improves to 53.6

  

  The business activity in the US manufacturing sector is seen expanding at a robust pace in August with the IHS Markit’s advanced Manufacturing PMI rising from 50.9 in July to 53.6. This reading came in better than the market expectation of 51.9. Further details of the publication revealed that the …

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• 21 August 2020 5:51 pm

  Oil Prices Rising as Producers Talk About Efforts to Cut Supplies

  

  Oil prices rose, and is on the path of achieving gains for the third week in a row, as it was strengthened by the efforts of major crude producers to cut production in light of concerns about the economic recovery from the Coronavirus pandemic. US West Texas Intermediate crude futures …

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• 21 August 2020 5:03 pm

  British Public Debt Exceeds 2 Trillion Pounds For The First Time

  

  Britain’s public debt exceeded 2 trillion pounds ($ 2.65 trillion) for the first time, underscoring the challenge facing Finance Minister Rishi Sunak, who is under pressure to provide more emergency support for the economy ravaged by the coronavirus pandemic. Net debt in July, which excludes public banks, rose to £ …

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• 21 August 2020 4:09 pm

  The Chinese President: We Will Strengthen Efforts to Make Progress in Major Technological Fields

  China State TV reported that President Xi Jinping said his country would strengthen its efforts to make progress in key technological fields. China Central Television reported that Xi said during an inspection tour of the flood-hit Anhui province that the authorities would implement more support measures to help companies, stabilize …

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• 21 August 2020 3:20 pm

  Euro is winning as Dollar falters on Economic Concerns

  

  The euro rose as the dollar fell due to concerns about the strength of the US economic recovery after job data that came below expectations, while the Chinese yuan rose to its highest level in seven months as traders bet on China’s growth. Traders in the single European currency are …

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• 21 August 2020 2:14 pm

  UK Retail Sales Rise in July Surpassing Pre-Covid Peak

  

  British retail sales rose above pre-coronavirus levels in July, the first full month that stores selling non-essential goods opened their doors since the country went into lockdown measures in March. The strong unexpected retail sales data reveals strength in consumer demand even as the rest of the economy struggles to …

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• 21 August 2020 2:08 pm

  European Stocks Struggling

  

  European stocks stabilized ahead of data on corporate activities that may shed light on the pace of economic recovery in the continent, while the rise in the pound sterling pushed the British FTSE 100 index to decline. The Stoxx 600 index of European stocks rose 0.1%, as it is still …

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• 21 August 2020 1:13 pm

  German Preliminary Manufacturing PMI Comes in at 53 in August

  

  According to the preliminary manufacturing activity report from IHS/Markit research, released this Friday, the German manufacturing sector improved further in August. In fact, the German manufacturing purchasing managers index (PMI) arrived at 53.0 in August versus 52.5 expected and 51.0 previous, 30-month highs. Meanwhile, Services PMI fell to a two-month …

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• 21 August 2020 11:45 am

  Coronavirus Update

  

  Although figures from Australia renewed hopes that the coronavirus (COVID-19) is abating in its wave 2.0, data from Wellington and Beijing portray a mixed picture. New Zealand’s new cases rise from 5 to 11, which in turn pushed Prime Minister Jacinda Ardern to postpone lockdown related announcement to Monday. On …

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• 21 August 2020 11:42 am

  Natural Gas Futures: Downside Seen Limited

  

  In light of flash data for Natural Gas futures markets from CME Group, open interest shrunk for the second consecutive session on Thursday, this time by almost 7.4K contracts. Volume, instead, extended the erratic performance and went up by more than 132K contracts.

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• 21 August 2020 11:41 am

  The Nikkie Index Up 0.62% in Early Trading

  

  The Nikkie benchmark index rose in early trading on the Tokyo Stock Exchange on Friday, August 21st. Nikkie increased 0.62% to 2,3022.76 points, while the broader TOPIX index rose 0.61% to 1,608.91 points.

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• 21 August 2020 10:48 am

  PBOC Sets Yuan Reference Rate at 6.9107

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9107 versus Thursday’s fix at 6.9274.

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• 21 August 2020 10:47 am

  Crude Oil Futures: Neutral/Bullish near-term

  

  In light of preliminary prints for Crude Oil futures markets from CME Group, open interest and volume went up by nearly 4.7K contracts and by around 103.5K contracts, respectively, on Thursday.Prices of the WTI keep the broad-based side-lined theme unchanged for the time being, Thursday’s bounce of daily lows was …

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