Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 13 August 2020 12:55 am

  Oil Settles at Highest Level in Five Months

  

  Oil prices increased on Wednesday, reaching their highest level in about five months, supported by the decrease in U.S. crude inventories. Brent crude futures for October delivery settled higher by 93 cents, or 2.1%, at $45.43 per barrel, its highest closing level since March 5. Meanwhile, the West Texas Intermediate …

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• 13 August 2020 12:53 am

  Gold Resumes Gains after Brief Correction

  

  Gold prices seem to have recovered from a strong correction wave on Tuesday, after closing higher on Wednesday, which reflects the high demand for the precious metal as a safe haven. According to market analysts, the losses of Tuesday were also due to an increase in the U.S. Treasury yields. …

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• 12 August 2020 11:40 pm

  U.S. Budget Deficit at $63 B in July

  

  The United States federal budget deficit declined to $63 billion in July, compared with $864 billion in June, Reuters reported. This is attributed to a delayed payment deadline on July 15, which boosted revenues last month. Deficit since the beginning of 2020 to the end of July stands at $2.81 …

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• 12 August 2020 11:36 pm

  Kaplan: Containing Pandemic Could Lower Unemployment

  

  Americans must learn how to live with the virus and follow the preventive health measures to ensure the pandemic is contained and so that the economy remains open, according to the President of the Federal Reserve Bank of Dallas, Robert Kaplan. “If we don’t follow that, while people may feel …

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• 12 August 2020 11:26 pm

  Rosengren: Controlling Virus Helps in Managing Debt

  

  Economic recovery in the United States is largely dependent on the situation of the COVID-19 Pandemic, according to the President of the Federal Reserve Bank of Boston, Eric Rosengren. Rosengren expects consumer spending to remain weak as the economy struggles with the pandemic, Reuters reported. “I would say that taking …

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• 12 August 2020 10:35 pm

  Kudlow: U.S. Economy Needs Little Assistance

  

  The United States economy does not near a huge stimulus package, according to the White House economic adviser, Reuters reported. The Director of the National Economic Council, Larry Kudlow, said on Wednesday that the economy’s numbers and figures are improving, despite a recent increase in COVID-19 cases. “The executive orders …

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• 12 August 2020 9:45 pm

  Democrats and Republicans Miles Apart on Stimulus Package

  

  Democrats and Republicans in the United States Congress are strongly disagreeing about the details of a new economic stimulus package. The Democrats are proposing around $3 trillion in funding, while Republicans do not to spend around $1 trillion. According to the Speaker of the House, Nancy Pelosi, the two parties …

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• 12 August 2020 8:56 pm

  European Stocks Maintain Gains

  

  European stocks continued with the upward trend on Wednesday, as the STOXX Europe 600 index closed up by over 1.14%. Most of the market sectors registered gains, with telecom, travel, and entertainment stocks showing strong performance. The FTSE100 index gained 2.04%, supported by positive economic data in the UK. Meanwhile, …

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• 12 August 2020 6:10 pm

  OPEC Monthly Report: Global Growth Forecast to 4% in 2020

  

  OPEC said that global oil demand will decline further in 2020 due to the Coronavirus pandemic, and added that the recovery next year will face great uncertainty, indicating growing adverse factors for the organization and its allies in supporting the market. The Organization of the Petroleum Exporting Countries (OPEC) said …

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• 12 August 2020 5:55 pm

  US: Real Average Hourly Earnings Decline by 0.4% in July

  

  Real average hourly earnings in the US decreased by 0.4% on a monthly basis in July. US Dollar Index dropped below 93.50 after this report.Real average hourly earnings for all employees in the US declined by 0.4% from June to July (seasonally adjusted), the US Bureau of Labor Statistics reported …

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• 12 August 2020 5:31 pm

  US Consumer Prices Rose 0.6% in July

  

  Consumer prices in the US rose more than expected in July, but rising unemployment will likely keep inflation under control, allowing the Federal Reserve to continue pumping liquidity into the economy to help it recover from the recession caused by the Covid-19 pandemic. The US Labor Department said its consumer …

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• 12 August 2020 5:05 pm

  Bankruptcies of US Companies Are Heading to Highest Level Since 2010

  

  Bankruptcy cases in the United States are heading to their highest in 10 years this year, with companies suffering from the repercussions of the Coronavirus. According to a report issued by Standard & Poor’s Global, 424 US companies have filed for bankruptcy protection since the beginning of this year until …

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• 12 August 2020 4:31 pm

  Russian Economy Contracted at Worst Pace in Nearly 10 Years

  

  Preliminary data showed that the Russian economy contracted by 8.5% on an annual basis in the second quarter of the year, with the country affected by the repercussions of the Coronavirus pandemic and the associated general isolation measures as well as the decline in oil prices, which is Russia’s main …

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