Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 28 July 2020 1:00 am

  DXY to Settle Lower by 0.8%

  

  The Dollar Index (DXY), which measures the performance of the US Dollar (USD) against a basket of major international peers, declined on Monday, due to the rising number of COVID-19 cases in the United States. Meanwhile, the market is anticipating the Congress passing a new economic stimulus package, as well …

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• 28 July 2020 12:42 am

  NYSE Closes Higher on Stimulus Package

  

  The New York Stock Exchange (NYSE) settled lower on the first session of the week, closing higher on Monday on the back of news about a new $1 trillion stimulus package to be soon approved by the US Congress. The Dow Jones Industrial Index rose by about 115 or 0.43%, …

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• 28 July 2020 12:10 am

  Oil Futures Recovery Losses and Finish Higher

  

  Oil prices increased on Monday, recovering from losses earlier in the session, amid hoped for improved demand on the back of a new stimulus package, which is set to be approved by the US Congress soon. The West Texas Intermediate (WTI) futures for September delivery settled higher by 31 cents …

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• 27 July 2020 10:49 pm

  US Treasury Yields Rise on Increased Demand

  

  US Treasury yields increased on Monday, with more investors showing demand for safe havens, amid an anticipation for the next Federal Reserve meeting this week, in which maintaining interest rates at their current levels is highly expected. Yields on the 10-year bonds increased by 0.010 basis points (bps), while the …

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• 27 July 2020 10:13 pm

  European Stocks Close Lower

  

  European stocks settled lower on Monday, on the back of rising tensions between the US and China, as well as concerns regarding the COVID-19 pandemic, after the UK imposed a two-week quarantine on people returning from Spain, after an increase in the number of cases there. The Stoxx Europe 600 …

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• 27 July 2020 10:06 pm

  Gold Settles at New Record Level

  

  Gold prices rose on Monday to a new record high, with the US Dollar continuing to decline and demand for safe havens increasing amidst worries regarding the COVID-19 pandemic. Gold futures for August settled higher by $33.50 or 1.8% to settle at $1,931 per ounce, registering its second historic highest …

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• 27 July 2020 9:45 pm

  Euro Continues Rally on USD Woes

  

  The Euro rose against the US Dollar on Monday, nearing a two-year high, with the US continuing to register an increasing number of COVID-19 cases. The market anticipates a second stimulus package that could be soon approved by Congress, as well as the upcoming Federal Reserve meeting this week. Meanwhile, …

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• 27 July 2020 8:24 pm

  Travel Bans Will Not Continue Forever: WHO

  

  “It is going to be almost impossible for individual countries to keep their borders shut for the foreseeable future. Economies have to open up, people have to work, trade has to resume,” the Director-General of the World Health Organization (WHO), Tedros Adhanom Ghebreyesus, said on Monday. “Where these measures are …

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• 27 July 2020 7:00 pm

  Dallas Fed Manufacturing Index Improves in July

  

  The Federal Reserve Bank of Dallas manufacturing general business activity index improved in July to -3 from -6.1 in June. The company outlook index registered a second consecutive positive reading, increasing three points to 5.9. Meanwhile, the index measuring uncertainty regarding companies’ outlooks surged from 9.1 to 20.9. The Texas …

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• 27 July 2020 6:11 pm

  Bitcoin Putting $10.5K Within Reach

  

  Bitcoin jumped above $ 10,000 for the first time since early June after the recent quiet price action. The cryptocurrency traded at $ 10,196.27, up more than 2.55% on the day. Bitcoin crossed the $ 10,000 barrier on June 3 but has since fallen and has remained steady, but for …

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• 27 July 2020 5:48 pm

  WTI finds support near $41, edges higher toward $42

  

  Crude oil prices rose last week as WTI rose 1.65%, but gains were limited by increased US-China tensions and market sentiment. Although WTI fell to $ 41 at the beginning of the week, it quickly reversed the trend and was last seen registering a 1% gain on the day to …

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• 27 July 2020 5:16 pm

  US Durable Goods Orders Increased by 7.3% in June

  

  Durable goods orders in the United States continued to rise in June, as the US Census Bureau reported on Monday that durable goods orders in the United States rose 7.3% MoM to $ 206.9 billion in June after an increase of 15.1% in May, better than forecasts of 7.2%. Excluding …

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• 27 July 2020 4:38 pm

  GBP/USD Climbs beyond mid-1.2800s

  

  The GBP/USD pair rose to nearly 5-month highs with a strong offered tone, to the 1.2875 region during the mid-European session on Monday. The US dollar started the week on the negative side, amid fears of a faltering economic recovery in the United States after the increase in new Covid-19 …

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