Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 14 July 2020 2:19 am

  US Shale Oil Production Expected to Decline

  

  The US Energy Information Administration (EIA) is expecting a steep decline in the production of shale oil in the United States by 56,000 barrels per day (bpd) to around 7.49 million bpd next month. This would be the lowest of US shale oil production since August 2017. The next OPEC+ …

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• 14 July 2020 1:16 am

  Wall Street Mixed at Close

  

  The New York Stock Exchange (NYSE) indices showed a varied performance on Monday, as the Nasdaq and S&P 500 closed lower with some of Wall Street biggest tech names registering losses. The Dow Jones Industrial Average was able to close on marginal gains, rising by by 10.50    or 0.04%, at …

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• 14 July 2020 12:38 am

  Oil Settles Lower by 1%

  

  Oil prices declined on Monday as the rising number of COVID-19 cases are leading to concerns regarding demand recovery. Brent crude futures settled higher by 1.2% at $42.72 per barrel, while the US benchmark crude oil, West Texas Intermediate (WTI), futures closed down by 1.1% to $40.10 per barrel. An …

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• 13 July 2020 11:40 pm

  Gold Resumes Gains at Monday’s Close

  

  Gold prices rose on Monday after posting two consecutive declines, during which it was able to maintain the $1,800 level. Although the yellow metal did not yet restore its highest level in nine years, where it closed last Wednesday, gold futures for August delivery increased by $12.20, or 0.7%, and …

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• 13 July 2020 11:29 pm

  Euro Surges Across the Board

  

  The Euro (EUR) has surged against major currencies during Monday’s trading, supported by the decline of the US Dollar (USD). A highly anticipated meeting for the European Central Bank (ECB) is set to take place on Thursday, while on Friday the European Union Leaders will discuss the COVID-19 crisis stimulus …

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• 13 July 2020 9:53 pm

  USD Weakens Against Major Currencies

  

  The US Dollar (USD) is showing a weak performance during the first session of the week, despite the lack of major economic data. The United States continues to hold the highest number of coronavirus disease (COVID-19) cases worldwide, with multiple record-high daily surges in recent weeks. The Dollar Index (DXY), …

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• 13 July 2020 9:43 pm

  European Stocks Close Higher

  

  Despite a record increase in COVID-19 cases worldwide on Monday, European stocks closed higher, supported by positive expectations regarding the development of a new vaccine for the spreading novel coronavirus. The pan-European STOXX 600 index added 1.06% or 3.88 points, as it closed at 370.71. In Paris, the CAC40 Index …

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• 13 July 2020 9:22 pm

  New York Fed: Consumer Expectations Improving

  

  The Federal Reserve Bank of New York June 2020 Survey of Consumer Expectations showed a continued gradual decline in pessimism about household financial conditions. Although consumers overall remain less optimistic about earnings growth, income growth, and job finding expectations compared to the pre-COVID-19 environment, some indicators showed considerable improvements in …

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• 13 July 2020 9:11 pm

  Germany Doubtful of an EU Agreement on COVID-19 Fund

  

  German Chancellor Angela Merkel expressed doubts regarding whether members of the European Union will reach an agreement on the coronavirus recovery fund or not. An EU summit will discuss on July 17-18 the planned EUR 750 billion ($840 billion) economic stimulus package. The meeting will also discuss the next seven-year …

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• 13 July 2020 8:56 pm

  New York Fed Plans Libor Rate Phaseout by end of 2021

  

  The President of the New York Federal Reserve Bank, John Williams, reiterated plans to phase out the use of Libor rate by the end of 2021, Reuters reported. “It doesn’t matter whether you are a large global bank or a local company with a handful of employees, you need to …

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• 13 July 2020 8:05 pm

  Goldman Sachs: Recovery Signs Too Early to Call

  

  A recent note by Goldman Sachs said that the United States and global economies are showing signs of recovery, based on recent reading by the purchasing managers’ indices (PMIs). After reaching readings as low as 30s in April, the indices are hovering around the 5o reading, which signals expansion in …

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• 13 July 2020 7:42 pm

  NYSE Opens Week Higher

  

  Indices of the New York Stock Exchange (NYSE) opened higher on Monday, with the Nasdaq reaching yet another record high, with investors growing optimistic about a vaccine for the new coronavirus disease (COVID-19). The Dow Jones Industrial Average opened higher by 0.57% at 26,225, while the S&P 500 gained 0.63% …

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• 13 July 2020 7:41 pm

  WHO Warns COVID-19 Could Get Worse and Worse

  

  The World Health Organization (WHO) has warned on Monday that the new coronavirus (COVID-19) pandemic may be getting worse around the world, with many countries failing to correctly respond to the situation and take the necessary preventive precautions. “Let me be blunt, too many countries are headed in the wrong …

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