Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 19 August 2020 6:41 pm

  OPEC+ JMMC Meeting is Scheduled Today, WTI Waiting for Data

  

  Today, Joint Ministerial Monitoring Committee (JMMC) meeting will likely be all about reviewing the bloc’s commitment to oil production curbs and assessing the compliance over the past two months. According to Reuters, July’s compliance of OPEC+ with oil output cuts was expected to reach 97%, down from 107% in June. …

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• 19 August 2020 5:48 pm

  Japan’s Nikkei Index Rises After Gains in US Technology

  

  The Nikkei benchmark index made slight gains at the close on the Tokyo Stock Exchange on Wednesday, with some tech stocks surging after the gains of US giants, with the S&P 500 index climbing to a record high last night. The Nikkei Index is very close to a three-decade high …

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• 19 August 2020 5:03 pm

  European Stocks Weaken After Wall Street Rally

  

  European stocks fell on Wednesday, August 18, and were unable to gain strength from a record rise in S&P 500 index, as investors feared an increase in coronavirus cases would impede the emerging economic recovery in Eurozone. The European Stoxx600 index fell 0.1% by 07:15 GMT, with the mining, oil …

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• 19 August 2020 3:20 pm

  British Health Minister: Most Cases of Corona Occurred in Homes

  

  British Health Minister Matt Hancock said Britain would likely not follow the example of France in requiring people to wear masks in the workplace because its screening and monitoring program shows that most people with Covid-19 disease have been infected at home. “We are not studying to do that at …

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• 19 August 2020 2:18 pm

  Eurozone Current Account Surplus Jumps in June

  

  Data from the European Central Bank showed that the revised surplus of the current account balance in the euro zone, which includes 19 countries, increased to 20.69 billion euros in June from 11.27 billion euros in May, as the trade surplus increased. In the twelve months to June, the bloc’s …

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• 19 August 2020 1:49 pm

  Oil Declining as Demand Concerns Outweigh decline in US Inventories

  

  Oil prices fell on Wednesday, August 19, due to fears that fuel demand in the United States may not recover as quickly as expected in light of the faltering talks on a stimulus package for the economy, overshadowing an exceeded expectations decline in US crude stocks. With investors keeping their …

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• 19 August 2020 1:06 pm

  Gold Down Below $ 2000

  

  Gold fell below $ 2000 dollars an ounce on Wednesday, August 19th, while the dollar rose as investors awaited the minutes of the latest Fed meeting. Spot of gold fell 0.4% to 1993.34 dollars an ounce by 05:05 GMT after hitting the highest level in a week at 2014.97 dollars …

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• 19 August 2020 12:40 pm

  Crude Oil Futures Higher During Asian Session

  

  According to the New York Mercantile Exchange, crude oil futures for September were traded at $42.70 a barrel, up 0.44%. It was previously traded higher at $42.76 a barrel. Crude oil may find support at $41.62 and resistance at $42.99. The dollar index, which measures the performance of the greenback …

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• 19 August 2020 11:48 am

  Japan’s Exports Fell in July For The Fifth Month in a Row

  

  Japan’s exports recorded a double-figure decline for the fifth consecutive month due to the repercussions of the Coronavirus, which led to a decline in car shipments to the United States. Japanese exports in July decreased by 19.2% year-on-year, and exports fell by less than expectations, which indicated a 21% decline. …

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• 19 August 2020 11:17 am

  Gold Futures Declined During Asian Session

  

  According to the COMEX, gold futures were traded in December at $ 2001.50 per ounce, up 0.58%. It previously traded at a session low $ 1999.95 an ounce. Gold may find points of support at $ 1923.00 and resistance at $ 2024.60. The dollar index, which measures the performance of …

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• 19 August 2020 10:59 am

  Trump Postpones Trade Talks With China

  

  US President Donald Trump said on Tuesday that he has postponed trade talks with China, adding that he does not want to talk to China at this time. Asked if he would withdraw from the trade deal with China, Trump said he would look into the matter. On Saturday, representatives …

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• 19 August 2020 10:57 am

  PBOC Sets Yuan Reference Rate at 6.9168

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9168 versus Monday’s fix at 6.9325.

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• 19 August 2020 10:51 am

  UK Annualized CPI Beats Estimates

  

  The UK Consumer Prices Index (CPI) 12-month rate came in at +1.0% in July compared to +0.6% in June while beating expectations of a +0.6%, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) came at +1.8% YoY …

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