Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 10 July 2020 11:55 pm

  Gold Prices Declines but Log Weekly Gains

  

  Gold prices declined for the second consecutive day but were able to maintain the $1,800 level, near its highest in nearly nine years. The yellow metal futures for August delivery decreased marginally by $1.90 and settled at $1,801.90 per ounce. Gold prices increased by 0.7% for the week. This is …

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• 10 July 2020 11:45 pm

  Baker Hughes: US Oil Rigs Down in Week

  

  The number of active US oil rigs decreased by four to 181 this week, according to data by Baker Hughes. It worth mentioning that the number of rigs drilling for crude oil in the US did not a single increased since mid-March.

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• 10 July 2020 11:36 pm

  European Stocks Up 0.5% for the Week

  

  European stocks settled higher on Friday, supported by positive industrial data in France and Italy. The pan-European STOXX Europe 600 index closed up by 0.81% at 366.6 points, up by 0.50% for the week. In the London Stock Exchange (LSE), FTSE100 finished higher by 0.76%. Meanwhile, the French CAC40 index …

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• 10 July 2020 10:06 pm

  Kaplan: Face Masks Could Speed Economic Recovery

  

  President of the Federal Reserve Bank of Dallas, Robert Kaplan, has called for increased use of face masks across the United States to combat the spread of the coronavirus disease (COVID-19). “While monetary and fiscal policy have a key role to play, the primary economic policy from here is broad …

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• 10 July 2020 9:44 pm

  IEA: COVID-19 Worst Impact on Oil Market Has Passed

  

  The worst effects of the coronavirus pandemic on global oil demand may have passed, according to a report by the International Energy Agency (IEA) on Friday, the Wall Street Journal reported. However, the crisis will continue to leave its toll as markets slowly recover during the second half (H2) of …

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• 10 July 2020 9:17 pm

  Moody’s: British Economy to Contract by 10%

  

  Moody’s Investors Services expects the British economy to contract by 10.1% in 2020, despite the UK government’s recently announced GBP 30 billion stimulus package. In addition, the rating agency forecasts the public debt-to-GDP ratio to increase by 24% or more. Moody’s also foresees a gradual recovery with an expected growth …

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• 10 July 2020 7:56 pm

  Federal Reserve Buys Apple and Ford Bonds

  

  The US Federal Reserve has added $1.33 billion worth of bonds from individual companies on June 22-30, Reuters reported. The bond purchases included big company names, such as Apple, Walt Disney, and Ford Motor. The Fed has already bought $428 million worth of bonds bought as part of a large …

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• 10 July 2020 6:01 pm

  Remdesivir Has Shown Good Results

  

  Gilead Sciences Inc said that its antiviral drug has shown good results. Remdesivir greatly improves the clinical recovery of COVID-19 patients, which reduces the risk of death. The company stated that these results will need to be confirmed in upcoming clinical trials. Gilead Sciences Inc said that the data of 312 …

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• 10 July 2020 5:50 pm

  US is Considering imposing Tariffs on French goods

  

  According to some news reports on Friday, the United States is considering imposing tariffs of 500 to 700M dollars on French goods after escalation on the French side, imposing a taxes on major technology companies, including huge American companies. Reports indicated that this decision will be announced soon, and it …

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• 10 July 2020 5:30 pm

  Canadian Unemployment Rate Falls to 12.3% in June

  

  Net change in employment in Canada increased more than expected as Statistics Canada reported on Friday that net change in employment in Canada rose by 953,000 in June, bringing the unemployment rate down to 12.3% from 13.7% recorded in May. However, the unemployment rate came out worse than the market’s …

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• 10 July 2020 5:17 pm

  US: Annual Core PPI Arrives at 0.1% in June

  

  Annual core PPI in the U.S. fell more than expected in June, as data published by the US Bureau of Labor Statistics on Friday showed that US PPI for final demand decreased to -0.2% in June from 0.4% in May, on an annual basis. The index remained unchanged at -0.8% …

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• 10 July 2020 3:59 pm

  France, Italy Factory Output Rebounds Sharply

  

  France and Italy posted large rebounds in industrial production for May, providing some safety over the prospects for an economic recovery in Europe. French industrial production increased by 19.6% on a monthly basis, while Italy recorded 42.1%. It is worth noting that one of the most important industrial provinces of …

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• 10 July 2020 3:03 pm

  EU’s Michel Discussing EU Budget, Recovery and Brexit With MEPs

  

  European Council President Charles Michel is meeting with members of the European Parliament on Friday. The discussion focused on finding an agreement on a long-term EU budget of 1.074 trillion euros and a recovery fund of 750 billion euros for the worst-hit countries by the coronavirus pandemic. Reuters reported that …

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