Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 20 August 2020 3:52 pm

  US Dollar Rising From its Lowest Level in Two Years

  

  The dollar rose Thursday, August 20, from its lowest level in two years, after a record less inclined to monetary easing than expected from the US Federal Reserve, which led to an appetite for buying the US currency, which recorded the highest increase in one day since June. The dollar …

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• 20 August 2020 2:56 pm

  China Pledges to Take Necessary Measures to Protect its Companies After Restrictions on Huawei

  

  The Chinese Ministry of Commerce said that Beijing will take “all necessary measures” to protect the legitimate interests of its companies, in response to the US move this week to tighten restrictions on Huawei. The administration of US President Donald Trump expanded the restrictions announced in May aimed at preventing …

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• 20 August 2020 2:22 pm

  Japan shares Declining Due to Negative US Economic Outlook

  

  Japanese stocks fell at the close Thursday, August 20, affected by Wall Street losses after the US Federal Reserve meeting minutes revealed that policymakers are concerned about the uncertainty surrounding the path of the economic recovery from the Coronavirus pandemic. The Nikkei index fell 1% to close at 22,880.62, the …

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• 20 August 2020 12:45 pm

  Oil Falls Amid Demand Risks And a Smaller-Than-Expected Drop in Inventories

  

  Oil prices fell on Thursday, August 20, as major producers warned of a threat to recover demand if the Coronavirus crisis continues for a long time, while US crude stocks fell less than expected. By 07:32 GMT, Brent crude was down 34 cents, or 0.8%, to $ 45.03 a barrel. …

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• 20 August 2020 12:28 pm

  European Shares Drop on Recovery Outlook

  

  European shares were hit by a sell-off in global stock markets on Thursday (August 20th) after the US Federal Reserve indicated a long and difficult path to the recovery of the world’s largest economy. The Stoxx600 index of European shares fell 1.2% by 07:12 GMT, while the mining sector fell …

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• 20 August 2020 12:08 pm

  Gold Recovering With Renewed Fears of a Slowdown in recovery

  

  Gold rose on Thursday, August 20, offsetting some of the losses caused by a wave of selling in the previous session, after the US Federal Reserve raised fears that the recovery from the economic downturn resulting from the outbreak of the Coronavirus is facing a blue future, which has cast …

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• 20 August 2020 10:57 am

  US-China to plan resumption of delayed trade deal talks – Bloomberg

  

  US and China are considering rescheduling the phase one trade deal review, earlier planned last weekend, reported Bloomberg, citing a person familiar with the matter. The source said that the review will take place soon, although no date has been set so far. Talks between the US and China continue …

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• 20 August 2020 10:39 am

  Coronavirus Update: Germany’s New Cases Rise by 1,707 With More 10 Deaths

  

  As per the latest coronavirus (COVID-19) updates from Germany, new cases in the European major rose by 1,707, versus the previous day’s 1,510, to take the total number of active cases across the country near 14,500, which is the most since 13 May. Further details suggest that 10 people died …

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• 20 August 2020 2:04 am

  Daily Recap: Wednesday, August 19, 2020

  

  The release of the Federal Reserve July meeting minutes dominated the market today, helping the USD go higher and, accordingly, gold closing lower. Meanwhile, expectations by the monetary policymakers that the COVID-19 health crisis will weigh on the economy led to Wall Street closing in red, while oil prices showed …

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• 20 August 2020 1:51 am

  Wall Street Closes in Red Following Fed Minutes

  

  The New York Stock Exchange (NYSE) indices closed in red, after rising earlier in the session to new intraday record highs. The Dow Jones Industrial Average lost 85.19, or 0.31%, while S&P 500 closed lower by around 15 points or 0.44%, and the Nasdaq Composite finished lower by 0.57%. The …

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• 20 August 2020 1:37 am

  Bullard: Wall Street is Right with Record-Breaking Rises

  

  President of the Federal Reserve Bank of St. Louis, James Bullard, is expecting the US economy to shrink by 4% in 2020, however, he does not see recent hikes by Wall Street as contradictory to the economic outlook. “I think Wall Street has called this about right so far,” Bullard …

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• 20 August 2020 1:27 am

  Barkin: Uncertainty Negatively Affecting US Economy

  

  The US need to get the coronavirus under control to ensure business confidence and economic certainty, according to the President of the Federal Reserve Bank of Richmond, Thomas Barkin. The high levels of uncertainty are weighing on the economy, which still needs continued fiscal support, according to Barkin.

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• 20 August 2020 12:30 am

  Oil Continues to Struggle for Direction

  

  Oil prices closed lower on Wednesday after data showed a decline in the US crude inventories, which came below market expectations. Brent crude futures for October delivery declined by 9 cents, or 0.2%, and settled at $45.37 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for September delivery rose …

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