Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 3 August 2020 5:31 pm

  Russia Increases Oil Production While Reducing OPEC+ cuts

  

  The source familiar with the data on Monday said that Russia’s production of oil and gas condensates increased to 9.8 million barrels per day in the first and second of August, compared to 9.37 million barrels per day in July amid reducing production cuts agreed within the framework of OPEC …

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• 3 August 2020 3:49 pm

  Gold Jumps to All-Time High

  

  Gold prices rose to an all-time high on Monday with the demand for the metal as a safe haven boosted by concerns over the economic implications of growing Covid-19 cases, but a rise in the dollar limited the gains. The spot of gold was stable at $ 1973.75 an ounce, …

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• 3 August 2020 3:01 pm

  British Factory Production is Growing at the Fastest Pace Since 2017

  

  British industrial production grew at its fastest rate in nearly three years in July, as factories reopened and demand improved after easing closings. The IHS Market / CBS Manufacturing Purchasing Managers Index rose to 53.3 in July from June’s reading of 50.1, in line with a previous preliminary estimate of …

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• 3 August 2020 1:35 pm

  Eurozone Factory Activity Bounced Back in July

  

  A survey on Monday showed Eurozone factory activity growth for the first time since early 2019 last month on the recovery in demand after a further easing of the restrictions of Covid-19 Over 18 million people have been infected by the Covid-19. But governments across Europe eased some of the …

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• 3 August 2020 1:17 pm

  The First Growth of the German Factory Activity Since December 2018

  

  A survey on Monday showed that German manufacturers witnessed an expansion in July for the first time since December 2018, which indicates a continued recovery in the sector. The IHS Market index of manufacturing purchasing managers, which contributes about a fifth of the economy, rose to 51.0 in July, exceeding …

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• 3 August 2020 12:12 pm

  Manufacturing activity in China expanded at the fastest pace

  

  A private sector survey showed on Monday that manufacturing activity in China expanded at the fastest pace in nearly a decade in conjunction with improved domestic demand, indicating that the second largest economy in the world will help reduce the pandemic blow to the global economy. ome analysts who say …

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• 3 August 2020 11:28 am

  Europe Seen Higher

  

  European stock markets opened higher with caution on Monday, supported by signs of economic growth in China, but doubts remain about the global recovery with the rise of Covid 19 cases. Futures for the German DAX index increased by 0.4%, FTSE 100 futures rose 0.1%, while the French CAC 40 …

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• 3 August 2020 10:45 am

  US Dollar Index Clings to Gains

  

  Tracked by the US Dollar Index, the USD is looking to add gains around the 93.50 area. The index focuses on the expected data, and the index advanced for the second consecutive session on Monday, regaining the middle of 93.00 on caution in global markets. Investors continue to evaluate the …

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• 3 August 2020 10:25 am

  FX Option Expiries for Aug 3 NY Cut

  

  FX option expiries for Aug 3 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – GBP/USD: GBP amounts         1.3000 550m  – USD/JPY: USD amounts          104.50 906m106.70 475m – EUR/GBP: EUR amounts  0.9000 576m 

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July, 2020

• 30 July 2020 5:41 pm

  US Jobless Claims Rise for Second Week in Row

  

  The number of initial jobless claims in the United States increased by 12,000 to a total of 1.43 million kast week, as show by the data of the US Department of Labor on Thursday. This is the second consecutive weekly rise in claims for unemployment benefits. Last month, data by …

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• 30 July 2020 5:32 pm

  US GDP Contracts by Nearly 33% in Q2

  

  The United States economy saw its worst quarter on record, after the gross domestic product (GDP) contracted by around 33% during the second quarter (Q2) of 2020, due to the COVID-19 pandemic. Preliminary data by the US Department of Commerce showed that GDP declined by 32.9% on an annual basis. …

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• 30 July 2020 5:18 pm

  Trump Suggests Delaying 2020 Presidential Elections

  

  The President of the United States, Donald Trump, has suggested delaying the 2020 presidential elections, which is set to take place next November, due to the COVID-19 pandemic. Trump has called in a tweet on Thursday for delaying the elections “until people can properly, securely, and safely vote.” The US …

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• 30 July 2020 4:51 pm

  Euro Mixed Following German GDP Data

  

  The Euro is showing a mixed performance against major currencies on Wednesday, following data showed the German economy’s biggest contraction on record and an improvement in the Eurozone economic sentiment. Although the EUR is maintaining some gains against commodity currencies, it is declining across the board. EUR is down to …

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