Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 4 July 2020 1:05 am

  Spain Sets New Deal for Reactivating Economy

  

  The Spanish government signed an agreement with business leaders and unions on Friday to reactivate the economy and create job opportunities, local paper El Pais reported. The agreement includes a support plan of EUR 40 billion for business loans aimed at funding the digital transformation of Spanish companies and businesses. …

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• 4 July 2020 12:08 am

  Knot: COVID-19 Needs Fiscal Response

  

  Monetary policy should not be the main line of defense for Europe against the economic impact of the coronavirus disease (COVID-19) pandemic, said Klaas Knot, the Governor of the Dutch Central Bank. Knot, who is a member of the European Central Bank (ECB) Governing Council, said that a strong fiscal …

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• 3 July 2020 11:16 pm

  Ripple Facing Lawsuits for Selling XRP in Securities Offering

  

  Ripple is being sued for selling its XRP token in an unregistered securities offering, the Coin Telegraph reports. A number of class-action lawsuits have been reportedly filed against Ripple in recent months. In addition, former Chairman of the Commodity Futures Trading Commission (CFTC), Chris Giancarlo, is arguing in a recently …

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• 3 July 2020 9:42 pm

  French President Macron Names New PM

  

  Jean Castex will lead a new French government, after being named by President Emmanuel Macron as prime minister. Macron, who was elected in 2017, promised a cabinet reshuffle in recent days to focus on recovery from the negative economic impacts of the COVID-19 pandemic. The new Prime Minister of France, …

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• 3 July 2020 9:09 pm

  European Stocks Post 1.8% Weekly Rise

  

  European stocks declined on Friday, despite recent PMI data showing recovery signs in the Eurozone, as well as the in the US and China. The pan-European STOXX Europe 600 index closed down by 0.93% at 364.86, but up by 1.83% for the week, despite giving up some of its gains …

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• 3 July 2020 8:45 pm

  NZD Rises on Improved Risk Appetite

  

  The New Zealand Dollar (NZD) is showing a strong performance against major currencies, supported by improved risk appetite. Positive indicators from European PMI reports showed that June saw the best economic activity since the beginning of the COVID-19 pandemic. Gains by Asian stock markets also helped push the risk appetite …

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• 3 July 2020 8:29 pm

  Calvino: COVID-19 EU Debts Must Be Repaid

  

  All the debt issued by the European Union (EU) to help its member states in the fight against the coronavirus disease (COVID-19) pandemic will eventually be paid back, according to Spain’s Minister of Economy Nadia Calvino. “The long-term sustainability of the debt is guaranteed and we are making plans and …

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• 3 July 2020 7:26 pm

  British Services Sector Shows Strong Recovery Signs

  

  The headline seasonally adjusted IHS Markit/CIPS UK services purchasing managers’ index (PMI) for business activity posted 47.1 in June, up from its level in May at 29, reaching its highest level in four months. The index survey showed that around 33% of participants reported a drop in business activity during …

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• 3 July 2020 6:39 pm

  Eurozone PMI Maintains Road to Recovery

  

  The Eurozone purchasing managers’ composite output index (PMI) maintained its recovery for the second consecutive month, recording 48.5 in June, rising by 17 points compared to its level in May at 31.9. This is the best level for the Eurozone index in four months, since the beginning of the coronavirus …

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• 3 July 2020 6:09 pm

  Oil had a good week and heading to record weekly gains

  

  With US markets closed this Friday in celebration of Independence Day holiday, oil prices enjoyed a good week and gained more than 4%. According to Reuters, oil fell below 43 dollars/barrel on Friday on the back of the increased numbers of coronavirus infections in the US. However, it noted that …

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• 3 July 2020 5:51 pm

  S&P 500 Continued To Recover

  

  S&P 500 continued to recover during Q2 from its slump in Q1. The largest sectors that struggled against the recession and were not on the index were: health care, communication services, information technology and consumer discretionary. Top 5 companies are in the S&P 500 and represent most of the recent …

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• 3 July 2020 5:34 pm

  EUR/JPY Remains in a Narrow Range

  

  The risk aversion provides some strength to Yen, safe-haven currency, which maintains the bullish trend for EUR/JPY in 121.00 regions. EUR/JPY fell for a second consecutive session with low trading volume due to the Independence Day holiday in the United States. Investors continue to evaluate the latest data besides Covid-19 …

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• 3 July 2020 4:28 pm

  European Commission Grants Conditional Clearance to Remdesivir

  

  The European Commission has granted a conditional clearance to use Gilead Sciences’ Remdesivir to treat Covid-19 This decision came after the European Medicines Agency’s “rolling review” that started at the end of April. The Commission had previously stated that it was negotiating with Gilead to purchase sufficient doses for European …

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