Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 27 August 2020 11:04 am

  Oil prices stable as Gulf of Mexico Braces For Laura

  

  Oil prices stabilized Thursday (August 27th) as a massive hurricane in the Gulf of Mexico affecting US oil industry, forcing oil drilling rigs and refineries to stop production. Brent crude futures for October delivery, which expire on Friday, rose 13 cents, or 0.3%, to $ 45.77 a barrel, after falling …

  Read More »
• 27 August 2020 1:16 am

  NYSE Maintains Record-Breaking Rally

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, supported by the tech stocks gains, positive economic data, and expectations that the US Federal Reserve will maintain its monetary policy for the near future. The Dow Jones Industrial Average added 83.48 points or 0.30% and closed at 28,331.92. The …

  Read More »
• 27 August 2020 1:07 am

  BoE’s Haldane: COVID Could be Catalyst for Social Change

  

  The Chief Economist and the Executive Director of Monetary Analysis and Statistics at the Bank of England (BoE), Andy Haldane, said on Wednesday that the role of central banks against the COVID-19 pandemic is limited in tackling inequalities, Yahoo Finance UK reported. “Many of the yawning social, economic, and financial …

  Read More »
• 27 August 2020 12:43 am

  Fed’s Esther George: Recession Depends on Pandemic State

  

  President of the Federal Reserve Bank of Kansas, Esther George, said on Wednesday that the COVID-19 recession in the United States could reoccur if the pandemic intensifies. “An important risk to that outlook is thinking about what happens as we come into the fall, whether we see any resurgence in …

  Read More »
• 27 August 2020 12:35 am

  Oil Prices Struggle for Direction

  

  Oil prices showed a mixed performance on Wednesday, after support from data showing the fifth consecutive weekly draw in US crude stockpiles was offset by negative demand forecasts. Crude prices, especially in the United States, remain supported by output disruptions in the Gulf of Mexico due to Hurricane Laura. Brent …

  Read More »
• 27 August 2020 12:29 am

  Gold Prices Settle at Week High

  

  Gold prices rose on Wednesday to their highest level since August 19, after trading lower for some time due to the rising US Treasury yields. The yellow metal futures for December delivery closed higher by $29.40, or 1.5%, at $1,952.50 per ounce. Meanwhile, silver futures for September delivery surged by …

  Read More »
• 26 August 2020 11:12 pm

  European Stocks Settle Higher

  

  European stocks returned to gains on Wednesday, reversing their earlier losses today on the back of positive economic data. The STOXX Europe 600 index gained 0.8%, supported by the rising market sectors. The UK’s FTSE100 closed higher by 0.14%, while the French CAC40 and the German DAX indices increased by …

  Read More »
• 26 August 2020 10:04 pm

  Mexico’s Economy Contract by 18.7% in Q2

  

  The Mexican economy has recorded its worst drop on record during the second quarter of 2020, due to the impact of the COVID-19 pandemic. Mexico’s gross domestic product (GDP) contracted by 17.1% on a quarterly basis during Q2 and by 18.7% on an annual basis. Mexican GDP is expected to …

  Read More »
• 26 August 2020 9:31 pm

  US Imposes New Sanctions over South China Sea

  

  The United States has blacklisted 24 Chinese companies involved in construction and military activities in the South China Sea, Reuters reported. The sanctioned companies are playing a “role in helping the Chinese military construct and militarize the internationally condemned artificial islands in the South China Sea,” according to a statement …

  Read More »
• 26 August 2020 9:12 pm

  Trump Could Intervene to Help Airlines

  

  The President of the United States, Donald Trump, is considering to issue an executive order to prevent layoffs at airline companies, Reuters reported. Congress is yet to pass a new COVID-19 stimulus package. “If Congress is not going to work, this president is going to get to work and solve …

  Read More »
• 26 August 2020 8:15 pm

  Davos Summit 2021 Set to Be Delayed

  

  The 2021 Davos summit, which gathers world leaders and major business figures from around the globe, has been delayed, the World Economic Forum (WEF) announced on Wednesday. The annual summit will not be held in January as usual, due to the coronavirus (COVID-19) pandemic. The decision comes based on advice …

  Read More »
• 26 August 2020 8:03 pm

  EIA: US Crude Oil Inventories Down by 4.7 M Barrels

  

  Crude oil inventories in the United States declined for the fifth consecutive week, according to data by the US Energy Information Administration (EIA) on Wednesday. Oil stockpiles decreased by 4.7 million barrels last week to a total of 507.8 million barrels. On Tuesday, Estimates by the American Petroleum Institute (API) …

  Read More »
• 26 August 2020 6:00 pm

  Pound Up, Ignoring Weaker Than Expected UK Retail Sales

  

  The British pound rallied on Tuesday as the US dollar weakened and investors ignored an unexpected drop in monthly retail sales data in Britain. The dollar fell after investors returned to riskier currencies while a successful phone call between the United States’ top trade officials and China sparked a positive …

  Read More »