Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 9 July 2020 11:11 am

  China’s CPI up 2.5% in June

  

  China’s consumer price index (CPI), a main gauge of inflation, rose by 2.5% YoY in June, expanding 0.1 percentage points than May. The percentage was in line with a 2.5% rise tipped by a Reuters poll. Meanwhile, China’s producer price index (PPI), which measures costs for goods at the factory …

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• 9 July 2020 10:32 am

  Gold Fell, Above $ 1,800

  

  Gold fell in the Asian session on Thursday but remained above $ 1,800 for the third day in a row. Gold futures fell 0.04% at $ 1819.95 (3:22 GMT), the yellow metal managed to maintain gains of the previous four sessions. Covid-19 outbreaks and lockdowns resulted in investors going to …

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• 9 July 2020 9:54 am

  FX Option Expiries For July 9 NY Cut

  

  FX option expiries for July 9 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1275 986m1.1300 1.8bn1.1350 569m1.1375 956m1.1250 551m1.1300 1.9bn – USD/JPY: USD amounts          105.80 879m107.10 388m107.25 381m107.50 1.1bn – USD/CAD: USD amounts 1.3500 788m1.3600 888m – NZD/USD: NZD amounts 0.6485 506m0.6520 311m0.6550 345m

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• 9 July 2020 12:52 am

  Wall Street Recovers Losses and Nasdaq Sets New Record

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, after falling on Tuesday, following a record rising streak by the S&P index and Nasdaq breaking new record highs. Today, the Dow Jones Industrial Average gained 177.10 points, or 0.68%, and settled at 26,067.28, giving up earlier gains after nearing …

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• 9 July 2020 12:21 am

  Bullard Sees US Unemployment at 8-7% in 2020

  

  President of the Saint Louis Federal Reserve Bank, James Bullard, expects unemployment in the United States to fall below 8% or 7% by the end of 2020, from a current 11%. Bullard also said in a CNBC intaerview on Wednesday that he is optimistic about the economic recovery.

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• 9 July 2020 12:05 am

  Oil Settles Higher on Rising Gasoline Demand

  

  Oil prices kept its movement within a limited range since the beginning of the week but closed higher on Wednesday. The global benchmark Brent crude futures rose by 21 cents and settled at $43.29 per barrel. Meanwhile, the US benchmark West Texas Intermediate (WTI) futures closed higher by 28 cents …

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• 8 July 2020 11:52 pm

  Fed’s Rosengren: Recovery to Be Slower than Expected

  

  It could take the US economy longer than previously expected to recover from the COVID-19 crisis, said the President of the Boston Federal Reserve Bank, Eric Rosengren, according to Reuters. In addition, Rosengren believes that demand for the Federal Reserve’s Main Street lending program would grow over time. “There are …

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• 8 July 2020 11:06 pm

  Bostic: Economic Activity is Levelling Off

  

  The President of the Federal Reserve in Atlanta, Raphael Bostic, said on Wednesday that “The energy for reopening businesses and for just general activity is starting to level off,” as quoted by Reuters. “This is something we are going to watch extremely closely,” he added.

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• 8 July 2020 10:58 pm

  Gold Prices Jump to Another Record High

  

  Gold prices maintained an upward trend for the fourth consecutive session on Wednesday, closing at a new record high for the second day in a row. The yellow metal has been soaring above the $1,800-mark since Tuesday. Gold futures for August delivery settled higher by $10.70, or 0.6%, at $1,820.60 …

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• 8 July 2020 9:46 pm

  European Stocks in Losses amid COVID-19 Worries

  

  European stocks closed lower on Wednesday with the rising cases of COVID-19 raising concerns about the reopening of business worldwide and the highly anticipated global economic recovery. The pan-continental STOXX Europe 600 index settled down by 0.67% at 366.48 points. In the London Stock Exchange (LSE), the FTSE100 index closed …

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• 8 July 2020 9:35 pm

  Singh: Fed Must Stay Vigilant

  

  Emergency lending provided by the US Federal Reserve has helped stabilize the market amid the COVID-19 crisis, said Daleep Singh, the Head of the Markets Group at the New York Federal Reserve. Singh noted that the Fed must stay vigilant and be prepared to adjust its approach if necessary as …

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• 8 July 2020 8:38 pm

  Merkel: EU Must Be Prepared for a No-Deal Brexit

  

  Germany is committed to reaching a new partnership agreement between the European Union (EU) and the United Kingdom (UK), but the EU should prepare for a no-deal Brexit, German Chancellor Angela Merkel told the European Union on Wednesday. The two sides are negotiating to reach a trade and cooperation deal …

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• 8 July 2020 8:15 pm

  Merkel Calls for More Unity within EU

  

  German Chancellor Angela Merkel has called for more unity among members of the European Union (EU) in her speech to the European Parliament in Brussels on Wednesday, Reuters reported. The speech came as Germany began a six-month presidency of the European bloc that began on 1 July. Speaking about the …

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