Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 7 July 2020 5:26 pm

  Germany Expects The Economy to Recover in October

  

  German Minister of Economy Peter Altmaier said during press statements that he expects that his country’s economy is recovering from the repercussions of Covid-19 in October. Altmaier added that the economy will shrink by 6% in 2020 and then return to growth by more than 5% in the following year. …

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• 7 July 2020 4:30 pm

  Forex Overview Today

  

  Markets stabilized and the US dollar attempted a recovery after risk-on sentiment on Monday, buoyed by rising Chinese stocks and easing Coronavirus concerns in the United States. Gold managed to rise despite the risk appetite, solid above 1780, and may be ready for a leg higher throughout the day. Sunday’s …

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• 7 July 2020 3:37 pm

  WTI Battles $40

  

  West Texas Intermediate crude oil (WTI) futures bounced but facing a difficult time extending this bounce above 40 as risk aversion trades continue in the European session. Traders are waiting for any clues for sentiment with Coronavirus update in US as well as crude oil inventory data from the American …

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• 7 July 2020 2:42 pm

  Gold Slipped as Dollar Strengthened

  

  Gold prices fell during trading on Tuesday, with the rise of the US dollar and amid anticipation of economic data. The prices of the yellow metal are currently trading at levels of $ 1776.98 an ounce, down by 0.43%, while the metal futures, August delivery, fell to $ 1787 an …

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• 7 July 2020 2:04 pm

  Eurozone Agrees 750 M Euros of Debt Relief Measures For Greece

  

  The Eurozone agreed on Tuesday new debt relief measures for Greece worth about 750 million euros ($840 million) as part of the country’s post-bailout program. According to Reuters. The money comes from profits made by eurozone central banks on Greek government bonds and the reduction to zero of the step-up …

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• 7 July 2020 1:26 pm

  UK Consumers Remain Cautious

  

  The British Retail Association reported Tuesday that the number of shoppers in retail stores decreased by nearly 50% this week compared to last year, and the amount of money spent in restaurants and bars decreased after the reopened. These data come a day before Finance Minister Rishi Sunak is due …

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• 7 July 2020 1:02 pm

  UK House Prices Fall

  

  British house prices fell for the fourth consecutive month in June as Covid-19 pressures continued on the market, marking the longest monthly decline since 2010. mortgage lender Halifax said on Tuesday Average house prices fell 0.1% in June after a 0.2% decrease in May and 0.9% lower than Q1 2020. …

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• 7 July 2020 12:22 pm

  EU Commission: Severe Risks to The Economic Outlook

  

  “Sees EU area 2020 GDP at -8.7% vs. the previous forecast of -7.7%.Cuts Spain growth estimate for 2020 To -10.9% from -9.4%.Downgrades Italy growth estimate for 2020 To -11.2% from -9.5%.2021 forecast now at 6.1% from 6.5%.Downgrades French growth estimate for 2020 To -10.6% from -8.2%.Upgrades German growth estimate for …

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• 7 July 2020 11:38 am

  Japanese Stocks Close Down After Three-Day Winning Streak

  

  Japanese shares ended the Asian session on Tuesday, Down. Japan’s Nikkei fell 0.44% at 22,614.69. The highest level of Nikkei during the trading session was 22,742.28, while the lowest at 22,540.44. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2% after it briefly traded in positive territory. Hong …

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• 7 July 2020 11:03 am

  Oil Prices Remain Above $ 40

  

  Crude oil prices continued to trade above $ 40 a barrel, but the resulting fears of a growing number of Covid-19 cases around the world, especially the United States, are limiting the rise in oil prices. Brent crude contracts reached levels of $ 43.32 a barrel, up by 1.12% on …

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• 7 July 2020 10:38 am

  German Industrial Production Rebounds 7.8% MoM in May

  

  Official data coming from Germany on Tuesday showed that industrial production rebounded less than expected in May, despite confirming that the manufacturing sector in the largest European economy is gradually recovering from the recession resulting from the closure measures. Industrial output posted + 7.8% MoM, the Federal Statistics Authority Destatis …

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• 7 July 2020 10:02 am

  FX option expiries for July 7 NY cut

  

  FX option expiries for July 7 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1265 909m1.1275 590m1.1335 521m1.1345 1.2bn1.1450 521m – GBP/USD: GBP amounts         1.2650 250m – USD/JPY: USD amounts          107.00 401m  – AUD/USD: AUD amounts 0.6915 633m  – NZD/USD: NZD amounts 0.6520 676m 

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• 7 July 2020 2:01 am

  Nasdaq Closes at New Record High

  

  The New York Stock Exchange (NYSE) settled higher on Monday, amid an improvement in risk appetite among investors due to positive economic data and anticipation for a COVID-19 vaccine. The Dow Jones Industrial Index gained 459 points or 1.78% to settle at 26,287, and the S&P 500 index rose by …

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