Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 17 September 2020 12:57 am

  Oil Prices Surge Following EIA Weekly Report

  

  Oil prices rose on Wednesday, amid output disruptions in North America, particularly in the Gulf of Mexico, and after the US Energy Information Administration (EIA) reported a decline in crude inventories last week. Brent crude futures for November delivery increased by $1.69, or 4.2%, to finish at $42.22 per barrel. …

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• 17 September 2020 12:38 am

  Fed Expects Better Performance by US Economy in 2020

  

  The United States Federal Reserve finished its two-day policy meeting on Wednesday and expressed better expectations for the US economy. The Fed reiterated its commitment to do what is necessary to help the US economy recover from the worst recession in years. Members of the Federal Open Market Committee (FOMC) …

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• 16 September 2020 10:28 pm

  Fed Maintains Rates Steady Awaiting Uptick in Inflation

  

  The United States Federal Reserve has decided in its meeting, held on Tuesday and Wednesday, to maintain the current rates, expected to maintain rates steady until inflation exceeds 2%. As expected, the Fed expressed commitment to maintain interest rates near 0%. This is the first meeting for the US monetary …

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• 16 September 2020 9:40 pm

  Gold Closes Higher Ahead of Fed Statement

  

  Gold prices rose on Wednesday, amid a fluctuating performance by the US Dollar (USD), which came mostly in the negative territory ahead of the release of the US Federal Reserve policy statement. Gold futures for December delivery increased by $4.30, or 0.2%, and settled at $1,970.50 per ounce.

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• 16 September 2020 8:39 pm

  US Oil Inventories Down 4.4 M Barrels

  

  Data of the United States Energy Information Administration’s (EIA) weekly report showed on Wednesday that crude oil inventories in the US declined by 4.4 million barrels last week. This comes against market analysts’ expectations of a 1.27 million barrel rise in US oil stockpiles.

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• 16 September 2020 8:11 pm

  European Stocks Settle Higher Awaiting Fed Statement

  

  European stocks closed higher on Wednesday, amid anticipation for the results of the US Federal Reserve meeting. The Stoxx Europe 600 gained 0.43% and closed at 372.57 points. Meanwhile, the UK’s FTSE100 declined by 0.44%, amid Brexit uncertainty. In France, the benchmark index CAC40 edged up by 0.13%, while in …

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• 16 September 2020 7:09 pm

  Japan’s PM Vows to Protect Employment

  

  The new Prime Minister of Japan, Yoshihide Suga, has vowed to protect employment against the effects of the COVID-19 pandemic. On Wednesday, in his first remarks as the successor of Shinzo Abe, the Prime Minister said that COVID-19 is the biggest challenge facing the Japanese economy, Reuters reported. Following the …

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• 16 September 2020 6:47 pm

  US Consumer Spending Slows in August

  

  Consumer spending in the United States slowed last month, according to data released on Wednesday. The value of overall sales increased 0.6%. Retail sales, excluding automobiles, gasoline, building materials, and food services, decreased by 0.1% in August, after rising by 0.9% in July, as per the reading revised from a …

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• 16 September 2020 6:34 pm

  US Homebuilder Confidence Surges to All-Time High

  

  Homebuilder confidence in the United States increased to a record high in September, data showed on Wednesday. The NAHB/Wells Fargo Housing Market Index (HMI) went up by five points to a record high of 83 in September. This comes amid historically low mortgage rates due to the COVID-19 pandemic.

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• 16 September 2020 6:31 pm

  US Business Inventories Rise for First Time in 2020

  

  Business inventories in the United States rose in July, for the first time in 2020, data showed on Wednesday. Business inventories increased by 0.1% in July, after decreasing by 1.1% in June, according to the US Department of Commerce. Retail inventories grew by 1.2%, while wholesale inventories fell by 0.3%.

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• 16 September 2020 6:08 pm

  Turkish Lira Hits New Record Low Against US Dollar

  

  The Turkish lira weakened to a record low against the dollar on Wednesday as concerns about the economic outlook continue, while investors await the decision of the Fed. The Turkish currency touched record low 7.5020 and beyond this week, as Moody’s downgrade of Turkey’s credit rating to “B2” from “B1”. …

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• 16 September 2020 5:37 pm

  Canada’s CPI Stays Unchanged at 0.1%

  

  Inflation in Canada, as measured by the Consumer Price Index (CPI), stayed unchanged at 0.1% on a yearly basis in August, the data published by Statistics Canada revealed on Wednesday. This reading came in lower than the market expectation of 0.4%. On a monthly basis, the CPI dropped to -0.1% …

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• 16 September 2020 5:17 pm

  US Retail Sales in August Increase by 0.6%, 1% Expected

  

  Retail Sales in the United States rose by 0.6% on a monthly basis in August to $537.5, the data published by the US Census Bureau revealed on Wednesday. This reading followed July’s increase of 0.9% (revised from 1.2%) and missed the market expectation of 1%.

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