Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 8 September 2020 3:40 pm

  Fitch Ratings Cuts Long-Term Oil Price Assumptions

  

  In its latest report, the US-based Fitch Ratings reduced its long-term price forecasts for both Brent and West Texas Intermediate (WTI) oil. Key points“The cut in the price forecast is to reflect large underutilized production capacities, the extended period of high oil inventory caused by the coronavirus pandemic, falling upstream …

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• 8 September 2020 2:42 pm

  Eurozone GDP Recorded The Largest Decline in Q2

  

  The Eurozone economy contracted slightly below initial expectations in the Q2, but the decline remains the largest ever with the collapse in consumer demand due to COVID-19 restrictions. GDP fell 11.8% compared to the previous quarter, and by 14.7% year-on-year, according to data from the European Statistics Office Eurostat on …

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• 8 September 2020 2:02 pm

  Euro Down Before ECB Meeting And Pound Falls

  

  The euro fell against the dollar on Tuesday, September 8th, as dealers awaited the European Central Bank’s meeting this week, and London’s renewed warning prompted a failure to reach an agreement on Britain’s withdrawal from the European Union. The pound would continue to decline. The euro is hovering around $ …

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• 8 September 2020 1:30 pm

  Novak: Russia Must Restore its Share in Oil Market as soon as Demand Recovers

  

  Russian Energy Minister Alexander Novak said that it is “very important” that Russia and the rest of the oil producers quickly regain their market share or even raise it as soon as the demand for crude recovers. In order to ensure that it does not lose its share in the …

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• 8 September 2020 12:33 pm

  Oil Falls on Demand Concerns And The End of Holiday Season in US

  

  Oil prices fell on Tuesday, September 8, amid concerns about fuel demand as the summer holiday season in the United States comes to an end, and a long Labor Day weekend has increased fears of an increase in coronavirus cases in more US states. US West Texas Intermediate crude futures …

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• 8 September 2020 12:29 pm

  German Shares Rise And Brexit Tension is Pressing Europe

  

  Stocks listed in Frankfurt rose on Tuesday, September 8th, while the rest of the European markets fell, as data showed that German exports increased in July, dispelling fears that the United Kingdom faces the risk of leaving the European Union without a trade deal. The European Stoxx600 index fell 0.1% …

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• 8 September 2020 11:33 am

  Gold Retreating Due to Strength of Dollar, Eyes on Central Banks

  

  Gold fell on Tuesday, September 8th, due to the rise of the dollar, but the losses were limited by doubts about economic recovery, while investors awaited the strategies of central banks’ policies in North America and Europe. Gold spot fell 0.2% to 1925.38 dollars an ounce by 05:10 GMT. And …

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• 8 September 2020 11:06 am

  Japan’s Economy Contracted For The Third Consecutive Quarter

  

  Japan’s economy contracted during Q2 of this year at a record annual rate of 28.1%, after adjusting from a preliminary figure of 27.8% that was estimated last month. The reading came in line with analysts’ expectations for a 28.4% contraction. This represents the third consecutive quarterly contraction, the largest decline …

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• 8 September 2020 11:02 am

  Germany’s Exports Rose in July, But Below Pre-Pandemic Levels

  

  Data showed that German exports increased 4.7% in July, indicating that Germany’s economic recovery from the Coronavirus crisis remains on track, although export shipments are still well below the pre-crisis level. The Federal Statistics Office said that imports rose only 1.1% on a monthly basis, bringing the trade surplus adjusted …

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• 8 September 2020 10:37 am

  Trump Raises Prospect of “Decoupling” US Economy From China

  

  US President Donald Trump raised the idea of the US economy decoupling from the Chinese economy, indicating that the United States will not lose money if business activities between the two countries ceased. “decoupling, it’s an interesting word,” Trump told during a news conference at the White House. “We will …

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• 8 September 2020 2:16 am

  Dubai TV Interview, September 7, 2020

  

  The main remarks by Mohamed Hashad, Director of Research and Development at Noor Capital, to Dubai TV on Monday, September 7, 2020. Wall Street Recent remarks by the Federal Reserve at the Jackson Hall annual conference and the review of its policy, allowing inflation to go above the long-term target …

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• 8 September 2020 1:14 am

  The Main Challenges Facing Japan’s Next Prime Minister

  

  Shortly after Japanese Prime Minister Shinzo Abe announced that he is stepping down due to health issues, the market reacted with anticipation for the one who will replace Japan’s longest serving PM. A recent report by CNBC explored the main challenges facing the next Prime Minister of Japan, noting that …

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• 7 September 2020 10:58 pm

  UK Housing Prices Reach New Record High

  

  House prices in the United Kingdom recorded a huge rise last month, reaching a new record level, according to data by IHS Markit. The Halifax House Price Index increased by 5.2% in August on an annual basis. This is the largest rise for the house-pricing index since late 2016. The …

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