Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 18 September 2020 4:34 pm

  Russia Central Bank Keeps Key Interest Rate at 4.25%

  

  The Russian Central Bank kept the key nterest rate at 4.25%, suspending its monetary easing cycle in light of the growing risks of imposing new sanctions on Moscow, but hinted that cutting interest rates is still possible later this year. The decision to keep interest rates at a record low …

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• 18 September 2020 3:38 pm

  Gold is Rising on Weak US Dollar

  

  Gold prices rose and on track to achieve gains for the second week in a row thanks to the weak dollar as weak jobs data in the United States negatively affected hopes for the economic recovery. Gold rose in spot trading 0.6% to 1953.70 dollars an ounce with the opening …

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• 18 September 2020 2:40 pm

  Turkish Lira Hits a Fresh Low Against US Dollar

  

  The Turkish lira fell to a fresh low against the dollar, as investors focused on the possible steps of the central bank to tighten monetary policy ahead of a policy meeting next Thursday. Lira touched a low of 7.5660, retreating from Thursday’s close of 7.5595. The Lira has fallen more …

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• 18 September 2020 2:32 pm

  Eurozone Current Account Surplus Shrank in June

  

  Data from the European Central Bank showed that the revised current account surplus of the 19 Eurozone countries shrank to 16.6 billion Euros in July from 20.7 billion Euros in June, as a decline in the primary income account eroded the impact of an increase in the trade surplus. In …

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• 18 September 2020 1:49 pm

  US Dollar on Track to Post Weekly Loss

  

  The dollar held on to narrow trading ranges. Still, it was heading towards a weekly loss against the major counterpart currencies, after negative data cast doubt on the economic outlook, while positive comments from the Minister of Finance in New Zealand helped support the country’s currency. The dollar gave up …

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• 18 September 2020 12:55 pm

  50% of German Companies Expect Weaker Outlook for The Economy

  

  A survey showed that about two-thirds of medium-sized companies in Germany have become, after the Corona crisis, determined to enhance their use of digital means such as videoconferencing, at a time when they are facing a difficult future for their performance. The results indicated that more than half of these …

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• 18 September 2020 12:00 pm

  Oil is Rising as Goldman Forecasts a Deficit and a Possible New Storm in The Gulf of Mexico

  

  Oil prices rose for the fourth session in a row as Goldman Sachs estimates that the market is in a deficit and a new storm has begun to form in the Gulf of Mexico, putting crude on the path of achieving a weekly gain of about 10%. After the Tokyo …

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• 18 September 2020 10:55 am

  UK Retail Sales Continued to Recover at a Rapid Pace in August

  

  Official figures showed that UK retail sales continued to post gains last month, as parts of the sector recovered faster than most of the economy. The Office for National Statistics said retail sales volumes rose 0.8% in August, slightly more than the median forecast of 0.7% in a Reuters poll. …

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• 18 September 2020 10:53 am

  PBOC Sets Yuan mid-point at 6.7591

  

  The People’s Bank of China has set yuan mid-point at 6.7591 / DLR vs last close 6.7642. China’s central bank also says it set the 14-day reverse repo rate at 2.35% vs 2.35% previously.

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• 18 September 2020 10:52 am

  FX Option Expiries For Sept 18 NY Cut

  

  FX option expiries for Sept 18 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1750 980m1.1800 753m1.1850 758m1.1900 1.0bn1.1950 1.3bn – USD/JPY: USD amounts          104.00 500m104.50 585m105.25 971m105.50 1.1bn – AUD/USD: AUD amounts 0.7300 2.4bn  – USD/CAD: USD amounts         1.3050 875m1.3100 551m1.3160 653m1.3200 574m1.3250 …

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• 18 September 2020 1:59 am

  NYSE Closes Lower as Market Digests Fed Policy Statement

  

  The New York Stock Exchange (NYSE) closed Thursday lower with the market digesting the effect of the Federal Reserve’s decision to maintain interest rates near 0%, a move that would probably continue until 2023. The Dow Jones Industrial Average declined by 130.40 points, or 0.4%, to close at 27,901.98 points. …

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• 18 September 2020 1:51 am

  US Treasury Yields Down Following Fed Statement

  

  US Treasury yields declined on Thursday, after the Federal Reserve vowed on Wednesday to maintain interest rates near 0% for three years. Return on the 10-year bonds declined by 0.4 basis points to 0.682%. Yields on the 30-year bonds decreased by 1.9 basis points to 1.428%. Meanwhile, the yield on …

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• 18 September 2020 1:41 am

  OECD Sees World Economy Growing by 5% in 2021

  

  The Organization for Economic Cooperation and Development (OECD) improved its expectations for the global economy during 2020, expecting a 4.5% contraction, compared with 6% in June. This comes due to improved outlooks for the world’s two largest economies, the United States and China, and supported by recent economic data. However, …

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