Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 24 September 2020 10:18 am

  PBOC Sets Yuan Reference Rate at 6.8028

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.8028 versus Wednesday’s fix at 6.7986.

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• 24 September 2020 1:10 am

  Wall Street Closes in Red

  

  Wall Street ended Wednesday’s trading in decline, after recent remarks by US Federal Reserve officials signaled maintaining interest rates near 0% for the coming three years, as well as concerns among the rising number of COVID-19 cases. The Dow Jones Industrial Average dropped by 1.92%, or 525.05 points, to close …

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• 24 September 2020 1:02 am

  US Treasury Yields Marginally Rise

  

  Treasury yields in the United States marginally increased on Wednesday following recent remarks by Federal Reserve officials. Yield on the 10-year Treasury bond levelled up by 1.3 basis points to 0.676%, while return on the 30-year bonds increased by the same amount to 1.426%. Meanwhile, return on the two-year notes …

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• 24 September 2020 12:50 am

  Oil Prices Finish Higher Following Inventory Draw

  

  Oil prices rose on Wednesday, after data showed a decline in US crude inventories. Brent crude futures for November delivery increased by 5 cents, or 0.1%, and settled at $41.77 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude for November delivery levelled up by 13 cents, or 0.3%, and …

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• 24 September 2020 12:38 am

  Gold Falls to Lowest Level in Two Months

  

  Gold prices declined on Wednesday, losing the $1,900 per ounce level, as the US Dollar (USD) maintained its rising trend. Gold futures for December delivery decreased by $39.20, or 2.1%, to close at $1,868.40 per ounce, its lowest closing level since July 22. The Dollar index (DXY), which measures the …

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• 23 September 2020 10:47 pm

  Clarida Vows to Keep Rates Until Inflation Hits 2%

  

  The Vice Chairman of the United States Federal Reserve, Richard Clarida, said on Wednesday that the Fed will not raise rates until the 2% inflation target is achieved. “We’re not going to even begin to think about lifting off, we expect, until we actually get observed inflation, and we measure …

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• 23 September 2020 10:35 pm

  Fed’s Mester: Recovery is Not Sustainable Yet

  

  President of the Federal Reserve Bank of Cleveland, Loretta Mester said on Wednesday that the US economy is recovering better than expected. However, Mester warned that recovery is not sustainable yet and not including all sectors. “We are still in a deep hole, regardless of the comeback we have seen.”“We …

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• 23 September 2020 10:30 pm

  European Stocks Rise on PMI Data

  

  European stocks closed higher on Wednesday, despite uncertainty about the rising number of COVID-19 cases. The rise of European stock markets came after the release of preliminary data that showed an expansion in the composite PMI index, even though it came below expectations. The Stoxx Europe 600 index added 0.7% …

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• 23 September 2020 9:34 pm

  Fed’s Rosengren: COVID-19 Cases Could Slow Recovery

  

  President of the Federal Reserve Bank of Boston, Eric Rosengren, said on Wednesday that economic recovery could be slower in case the number of novel coronavirus (COVID-19) cases increased. “Recent economic data have been encouraging, but I believe the most difficult part of the recovery is still ahead of us.” …

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• 23 September 2020 9:27 pm

  Fed’s Evans Not Worried About Inflation Above 2%

  

  President of the Federal Reserve Bank of Chicago, Charles Evans, said on Wednesday that he does not fear stronger accommodation in the pursuit of clearly overshooting the 2% inflation target, even reaching above 2.5%. The Fed needs to maintain interest rates close to zero to sustainably maintain inflation at 2% …

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• 23 September 2020 9:22 pm

  US PMI Declines in September but Manufacturing Sector Advances

  

  The IHS Markit Flash U.S. Composite PMI Output Index posted 54.4 at the end of the third quarter (Q3) of 2020, down from 54.6 in August, adjusted for seasonal factors. However, the index’s quarterly average was the highest since the opening three months of 2019. The seasonally adjusted IHS Markit …

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• 23 September 2020 9:15 pm

  Powell: Main Street Program Saw Modest Use

  

  The Federal Reserve Chair Jerome Powell said on Wednesday in his testimony to the House of Representatives Select Subcommittee on the Coronavirus that companies have made only modest use of the Fed’s Main Street Lending Program. However, the Fed is not planning any major changes to its lending policy. “If …

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• 23 September 2020 8:44 pm

  Powell: Fed and Congress Need to Work Against COVID

  

  The United States Congress and the Federal Reserve need to work in order to help the American economy recover from the impacts of the COVID-19 crisis, said the Federal Reserve Chair Jerome Powell on Wednesday. Powell noted in his testimony in front of the House Select Subcommittee on the Coronavirus …

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