Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 23 September 2020 3:48 pm

  German Cabinet Approves Draft Budget for 2021, EUR96.2 B in New debt

  

  A German government official said on Wednesday, the Cabinet approved a draft budget for next year, as proposed by the Finance Minister Olaf Scholz. The budget sets aside a net new debt of EUR96.2 billion euros or $112.43 billion to offer further financial support to cushion the impact of the …

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• 23 September 2020 3:16 pm

  Euro Falls to Its Lowest Level in Two Months

  

  The euro fell to its lowest level in two months, Wednesday, September 23, after positive economic data from the United States and concerns about the second wave of Coronavirus infections combined with weak European indicators to support the rise of the dollar. The US currency rose to $ 1.1671 against …

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• 23 September 2020 2:10 pm

  European Stocks Continue to Recover, Adidas is Jumping

  

  European stocks continued their recovery on Wednesday, September 23, from the heavy selling witnessed earlier this week, as investors awaited the latest data on business activity to see whether the economic recovery faltered as several countries re-impose restrictions related to the Coronavirus. The European Stoxx600 index rose 0.7% by 0712 …

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• 23 September 2020 1:43 pm

  Oil Falls After a Sudden Increase in US Stocks

  

  Oil prices fell by more than 1% on Wednesday, September 23, after data reported that US crude inventories rose unexpectedly, renewing concerns about fuel demand, which caused heavy selling earlier in the week. By 0641 GMT, Brent crude futures fell 33 cents, or 0.8%, to $ 41.39 a barrel. US …

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• 23 September 2020 12:56 pm

  UK Preliminary Manufacturing PMI ME Estimates With 54.3

  

  The UK manufacturing and services sector activities showed mixed performance in September, the preliminary report from IHS Markit showed this Wednesday.  The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) dropped to a two-month low of 54.3 in September versus 54.3 expected and 55.2 – August’s final reading. …

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• 23 September 2020 12:28 pm

  Eurozone Preliminary Manufacturing PMI rises to 53.7

  

  The Eurozone manufacturing sector activity continued to improve this month, the latest manufacturing activity survey from IHS/Markit research showed on Wednesday. The Eurozone Manufacturing purchasing managers index (PMI) improved from 51.7 in August to 53.7 in September above 51.9 expectations while the Services PMI dropped to 47.6 in September vs. …

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• 23 September 2020 12:26 pm

  Crude Oil Futures: Outlook Remains Neutral/Bearish

  

  Traders increased their open interest positions by around 5.6K contracts on Tuesday, extending the erratic performance seen as of late in light of flash data from CME Group. On the other hand, volume resumed the downside and shrunk by around 182.1K contracts. Prices of the barrel of WTI charted an …

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• 23 September 2020 12:22 pm

  China Says it Will Boost Investment in Strategic Industries

  

  China has said it will invest in strategic industries, including key technology sectors such as 5G networks, artificial intelligence and chips. The National Development and Reform Commission said China will speed up the development of new materials to ensure stable supply chains for the aircraft industry, microelectronics and deepwater mining …

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• 23 September 2020 12:21 pm

  Nikkei is Dropping on Virus Fears And Stimulus After Long Weekend

  

  Japanese shares fell on Wednesday, September 23, as the stock market tracked losses in global markets after a long weekend and under pressure from fears of a rise in cases of Coronavirus and the delay of an American stimulus program. Car stocks and other value stocks recorded the largest losses, …

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• 23 September 2020 12:19 pm

  Gold is Touching its Lowest Level in 6 Weeks Under Strong Dollar Pressure

  

  Gold prices touched on Wednesday, their lowest level in 6 weeks with the rise of the dollar in light of the decline in sentiment in Europe due to the Coronavirus crisis, while investors grew concerned about more stimulus from the US Federal Reserve. Gold spot lost 1% to 1880.46 dollars …

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• 23 September 2020 1:09 am

  Fed’s Barkin Says COVID-19 Vaccine is Essential For Recovery

  

  President of the Federal Reserve Bank of Richmond Tom Barkin said on Tuesday that the US labor market and economic activity may not fully recover until a vaccine and treatments for the novel Coronavirus are developed. “If this rate of initial claims continues, you have to imagine the recent improvements …

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• 23 September 2020 1:04 am

  UK Factory Orders Down to Three-Month Low

  

  Manufacturers in the United Kingdom saw the highest decline in orders in three months during September, according to data by the Confederation of British Industry (CBI) on Tuesday. The CBI monthly industrial order book balance decreased to -48 in September from -44 in August. It is worth noting that UK …

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• 23 September 2020 1:01 am

  European Stocks Rise Despite Uncertainty

  

  European stocks closed higher on Tuesday, despite concerns about the rising number of COVID-19 cases across the continent and the prospects of renewed lockdown measurements. The STOXX Europe 600 index closed higher by 0.46%. The UK’s FTSE100 gained 0.43%, while the French index CAC40 levelled up by 0.40%. Meanwhile, the …

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