Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 3 September 2020 1:50 pm

  Eurozone Economic Recovery Lost Momentum in August

  

  A survey showed that the recovery of the Eurozone economy from its biggest downturn on record faltered in August as growth in the services sector dominating the bloc almost completely halted, suggesting that the long road to recovery is bumpy. Last quarter, the bloc’s economy shrank 12.1%, as the imposition …

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• 3 September 2020 1:25 pm

  China: We Will Respond to US Restrictions on Diplomats

  

  Chinese Foreign Ministry spokeswoman Hua Chunying said in a daily press briefing that Beijing will respond “by lawful means” to the new restrictions imposed by the United States on Chinese diplomats. Washington said it would require senior Chinese diplomats to obtain approval from the Foreign Ministry before visiting any university …

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• 3 September 2020 12:44 pm

  European Shares Open Higher Ahead of Services Sector Data

  

  European stocks rose on Thursday, September 3rd amid signs of global economic recovery and hopes for further stimulus measures, with all eyes focused on domestic services sector data likely to show continued growth. The European Stoxx600 index rose 0.8% in early trade, tracking a strong session in Asia after a …

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• 3 September 2020 12:05 pm

  Japan’s Nikkei Index Reaches Highest Level in 30 Years

  

  The Nikkei benchmark hit a six-month high Thursday, September 3 and its strongest in three decades in dollar terms, as hopes for more domestic and global economic stimulus boosted sentiment. The Nikkei Index rose 0.94% to 23,465.53 points, its highest closing level since February 21. In dollar terms, this index …

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• 3 September 2020 10:41 am

  US May Witness Largest Fiscal Deficit Since World War II

  

  A report issued by the Congressional Budget Office predicts that the US federal government budget deficit will reach 16% of GDP during 2020, the largest in the United States since the end of World War II in 1945. The bureau said the US public debt rate will exceed 100% of …

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• 3 September 2020 10:21 am

  Japan’s Services PMI Fell to 45 in August

  

  Japanese service activity contracted at a rapid pace last month, dropping the service purchasing managers’ index to 45.0 in August from 45.4 in July. The Japanese service activity was affected by the uncertainty and weak demand surrounding the business sector due to the Corona pandemic.

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• 3 September 2020 1:45 am

  Daily Recap: Wednesday, September 2, 2020

  

  The US Dollar (USD) showed strong recovery signs on Wednesday from near its lowest level in two years on the back of strong economic data in the US, coupled with the decline of the Euro with a surprise decline in German retail sales, and the Sterling Pound, with the British …

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• 3 September 2020 1:30 am

  Fed’s Beige Book Highlights Uncertainty and Volatility

  

  Although economic activity increased among most areas across the United States, gains remained subdued, with the economy yet to restore its levels prior to the coronavirus (COVID-19) pandemic, according to the US Federal Reserve Beige Book. The Beige Book report, which was released on Wednesday, showed that with the real …

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• 3 September 2020 12:57 am

  NYSE Logs Highest Gains in a Week

  

  The New York Stock Exchange (NYSE) registered its biggest gains in a week on Wednesday, supported by positive economic data that signaled a strong recovery from the COVID-19 crisis. Additionally, news about vaccine and treatments for the virus helped boost investors’ sentiment and the risk appetite. The Dow Jones Industrial …

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• 3 September 2020 12:34 am

  US Treasury Yields Show Mixed Signs on USD Recovery

  

  US Treasury yields mostly declined on Wednesday, amid a rise of the US Dollar (USD) on the back of positive economic data. Return on the 10-year Treasury notes decreased by 2.2 basis points to 0.650%. Yields on the 30-year bond fell by 5 basis points to 1.375%. Meanwhile, return on …

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• 3 September 2020 12:05 am

  Oil Prices Close Lower Despite Stockpiles Draw

  

  Oil prices declined on Wednesday, despite a decrease in crude inventories in the United States, as production in the Gulf of Mexico recovers from the impacts of Hurricane Laura. Brent crude futures for November delivery closed lower by $1.15, or 2.5%, at $44.43 per barrel. Meanwhile, the US West Texas …

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• 2 September 2020 11:46 pm

  Gold Settles Lower as USD Recovers

  

  Gold prices closed Wednesday lower, amid a recovery of the US Dollar on the back of positive economic data coupled with the Euro and the British Pound simultaneous declines. Gold futures for December delivery declined by $34.20, or 1.7%, and settled at $1,944.70 per ounce. Meanwhile, silver futures finished lower …

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• 2 September 2020 11:22 pm

  GBP/USD Declines on BoE Dovish Tone

  

  The British Pound (GBP) is trading lower against the US Dollar (USD) on Wednesday, with the USD rising on the back of strong manufacturing data with surging PMI and factory orders. Meanwhile, the GBP is impacted by recent remarks by policy makers in front of the House of Commons Treasury …

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