Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 21 September 2020 11:29 am

  Gold Rises Supported by Weak Dollar

  

  Gold prices rose Monday, September 21st, buoyed by the dollar’s weakness as investors looked for words from US Fed policymakers this week to learn more about the central bank’s approach to inflation. Spot of gold rose 0.2% to 1952.59 dollars an ounce by 05:30 GMT. And gold in US futures …

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• 21 September 2020 10:24 am

  PBOC Maintains Main Rate at 3.85%

  

  The People’s Bank of China kept its key lending rate steady at 3.85% for the fifth month in a row, as this measure was in line with expectations. The People’s Bank of China kept the lending rate for five years at 4.65%. Most of the new and maturing loans depend …

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• 21 September 2020 10:21 am

  PBOC Sets Yuan Reference Rate at 6.7595

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.7595 versus Friday’s fix at 6.7591.

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• 21 September 2020 10:19 am

  Weekly Recap 14-18 Sept

  

  There were a lot of market drivers last week like the Fed and Bank of England meeting and tensions over the Brexit talks and developments for the Corona vaccine as well as the continuing trade tension between the US and China and the TikTok crisis. There was a lot of …

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• 19 September 2020 1:36 am

  Wall Street Records Weekly Losses

  

  The New York Stock Exchange (NYSE) extended its weekly losses on Friday, amid increasing selling pressures, especially on tech stocks. The Dow Jones Industrial Average DJIA dropped by 244.56 points, or 0.9%, to finish at 27,657.42 points, registering a marginal weekly loss of less than 0.1%. S&P 500 lost 37.54 …

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• 19 September 2020 1:29 am

  US Treasury Yields Finish the Week Higher

  

  Treasury yields in the United States rose on Friday, after declining yesterday following the release of the Federal Reserve policy statement on Wednesday, which indicated maintaining low interest rates close to 0% until 2023. Return on the 10-year Treasury bonds rose by 1.2 basis points to 0.694%, rising by 2.6 …

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• 19 September 2020 1:22 am

  Oil Prices Register Weekly Rise

  

  Oil prices showed a mixed performance on Friday amid concerns over demand outlook and output disruptions, especially in North America. Crude prices also received support from recent remarks reiterating the commitment of OPEC+ to restoring market balance. Brent crude futures for November delivery decreased by 15 cents, or 0.4%, to …

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• 19 September 2020 12:35 am

  Gold Maintains Gains for Second Week

  

  Gold prices maintained a rising streak for the second consecutive week after rising on Friday. Gold futures for December delivery gained $12.20, or 0.6%, and finished at $1,962.10 per ounce, adding 0.7% for the week. Meanwhile, silver futures increased by 3 cents, or 0.1%, and closed at $27.129 per ounce, …

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• 18 September 2020 11:08 pm

  European Stocks Record Small Weekly Gains

  

  European stocks closed lower on Friday, as the Stoxx Europe 600 index declined by 0.52% and finished at 369.31 points, rising by 0.24% for the week. The UK’s FTSE100 decreased by 0.71%, following the Bank of England’s (BoE) decision to maintain its main rate steady at 0.1%. Meanwhile, the German …

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• 18 September 2020 10:17 pm

  US Oil Rigs Decline in Week

  

  Oil and natural gas rigs in the United States increased this week, according to data by Baker Hughes. Active oil and gas rigs increased by one to 255, but remained 71% below the level of rigs for the same time last year at 613 rigs. Oil rigs fell by one …

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• 18 September 2020 10:10 pm

  US Current Account Deficit Increases by 53%

  

  Current account deficit in the United States increased during the second quarter (Q2) of 2020, data by the US Department of Commerce showed on Friday. The current account deficit surged by 52.9% to $170.5 billion in Q2 of 2020, its highest level in about 12 years, since Q3 of 2008. …

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• 18 September 2020 7:13 pm

  Kashkari Prefers Stronger Tone on Rates

  

  President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Friday the monetary policymakers need to take better measurements to ensure the economy restore its pre-crisis levels. “I would have preferred the Committee make a stronger commitment to not raising rates until we were certain to have achieved …

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• 18 September 2020 6:55 pm

  Bostic: Inflation Stability is Necessary Above 2%

  

  The President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Friday that he will accept inflation going above 2% to 2.3% but remaining stable. “By contrast, if we were at 2.2% and the next quarter at 2.4% and then at 2.6% that trajectory would give me concern.”

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