Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 29 September 2020 12:23 am

  Gold Settles Higher as USD Declines

  

  Gold prices closed higher on Monday, rising in the first session of the week as the US Dollar (USD) declined across the board against major currencies. In addition, political uncertainties and the rising number of COVID-19 cases in many countries are spurring demand for safe havens. Gold futures for December …

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• 28 September 2020 10:21 pm

  Fed’s Mester: More Actions Needed for Recovery

  

  President of the Federal Reserve Bank of Cleveland, Loretta Mester, said on Monday that the US economy needs more actions to guarantee its recovery from the impacts of the Coronavirus (COVID-19) “Opportunity and inclusion are important for achieving a strong economy.”“Unless actions are taken to promote an inclusive economy, the …

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• 28 September 2020 10:08 pm

  European Stocks Open the Week with Big Gains

  

  European stocks closed higher on Monday, opening the week with strong gains. The STOXX Europe 600 index gained 2.2% and closed at the level of 363.39 points, supported by a strong rebound from bank stocks. In the UK, the FTSE100 index finished the first session of the week higher by …

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• 28 September 2020 8:26 pm

  EUR/GBP Testing 0.9070

  

  The Euro (EUR) is declining against the British Pound (GBP) is down by 0.57% for the day, trading 0.9072, amid the strength of the latter. The pair opened Monday at the level of 0.9094 after closing last week at 0.9125. EUR/USD is moving in a range between 0.9025 and 0.9126, …

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• 28 September 2020 8:15 pm

  USD/JPY Stable Near 105.5

  

  The US Dollar (USD) is showing stability against the Japanese Yen (JPY) despite mostly weakness across the board. The USD/JPY is trading at 105.55, marginally lower for the day by 0.03%. The pair has been moving in a range between 105.270 and 105.690. After closing last week at 105.58, the …

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• 28 September 2020 8:07 pm

  GBP/USD Shows Strong Performance Above 1.200

  

  The British Pound (GBP) is surging in front of the US Dollar (USD) on Monday, opening the week with a strong performance amid a relevant decline by the USD. The GBP/USD is trading higher for the day by 0.88% at 1.2858 after opening today at 1.2745, a little below its …

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• 28 September 2020 7:18 pm

  Texas Production Activity Expands in September

  

  The Texas factory production index increased by nine points to 22.3 in September, its highest reading in two years, according to data by the Texas Manufacturing Outlook Survey. This is the fourth consecutive monthly increase for the index, signaling recovery from the impacts of the COVID-19 pandemic. Meanwhile, future production …

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• 28 September 2020 5:54 pm

  ECB’s Lagarde: ECB Continues to Stand Ready to Adjust All of Its Instruments

  

  The economic recovery in the euro area remains incomplete, uncertain and uneven, Christine Lagarde, President of the European Central Bank (ECB), reiterated while delivering her prepared remarks at the EU Committee on Economic and Monetary Affairs. “In the current environment of elevated uncertainty, the Governing Council will carefully assess all …

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• 28 September 2020 5:38 pm

  The Turkish Lira Drops to Fresh Lows Weighted by Caucasus Conflict

  

  The Turkish lira fell to record levels against the dollar, the euro and the pound on Monday, September 28, in light of fears of increasing Turkey’s intervention in the rapidly escalating conflict in the Caucasus, despite the sudden interest rate hike last week in order to support the currency. The …

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• 28 September 2020 4:38 pm

  Germany Proposes Rule of Law Conditions For Accessing EU’s COVID Recovery Fund

  

  European Union chair Germany has proposed a rule of law scheme for accessing EU funds in negotiations between member states and the European parliament, Reuters reported on Monday, citing an internal document. Quotes according to Reuters “Rule of law is essential, important to protect the EU’s financial interests, impartial courts.”“Respect for …

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• 28 September 2020 3:38 pm

  PBOC: We Will Maintain Ample Liquidity And Reduce Financing Costs

  

  The People’s Bank of China said it will maintain reasonably ample liquidity and direct funding costs down. The People’s Bank of China said in a statement after a meeting of its monetary policy committee that it would make this policy more flexible and targeted. He went on to say that …

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• 28 September 2020 2:54 pm

  US Dollar Near a Two-Month High Amid Political And Economic Risks

  

  The dollar traded near a two-month high against a basket of currencies on Monday, September 28, while doubts about an economic recovery continued before a batch of economic data and political developments in the United States. The recovery of US stocks on Friday contributed to limiting the rise of the …

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• 28 September 2020 2:10 pm

  Oil is Falling on Uncertainty Surrounding The Recovery of Demand

  

  Oil prices fell on Monday, September 28, as the high number of coronavirus cases dampened hopes for a smooth recovery in fuel demand, while the two major benchmarks are moving towards recording their first monthly decline in several months after falling last week. By 06:52 GMT, Brent crude was down …

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