Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 22 July 2020 11:25 pm

  EUR/USD Maintains Some Momentum

  

  The Euro rose on Wednesday to its highest level since October 2018 against the US Dollar, maintaining the momentum it gathered from the European Union’s agreement on a COVID-19 recovery fund, especially as demand for safe havens increased. After rising by 0.5% earlier, the EUR/USD is currently trading at 1.15696, …

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• 22 July 2020 10:54 pm

  Gold Settles at Highest Level Since 2011

  

  Gold prices surged on Wednesday, for the fourth session in a row, supported by increased demand for safe havens amidst rising tensions between the United States and China. The yellow metal August futures settled higher by $21.2, or 1.2%, at $1,865.10 per ounce. Similarly, silver prices rallied by 7.4% to …

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• 22 July 2020 8:29 pm

  European Stocks Close Lower on COVID-19 Worries

  

  European stocks declined on Wednesday, with the positive impact from the European Union’s recovery deal appearing to fade out in the face of the rising number of COVID-19 cases, despite the US signing a huge deal for obtaining a newly-developed vaccine. The pan-European Stoxx 600 index settled lower by 0.89%, …

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• 22 July 2020 8:15 pm

  Reshetnikov: Russia’s GDP Declines by 4.2% in H1

  

  The Russian gross domestic product (GDP) declined by 4.2% in the first half (H1) of 2020, according to Russia’s Minister of Economy, Maxim Reshetnikov. The ministry reportedly expects the economy to retreat by 4.8% in 2020 and expects the recovery to the pre-COVID-19 levels to take place by the fourth …

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• 22 July 2020 8:05 pm

  US Oil Stocks Rise and Prices React with 1.3% Decline

  

  Crude oil inventories in the United States increased by 4.9 million barrels during the week ending July 17, according to data by the US Energy Information Administration (EIA) on Wednesday. A decline between 575,000 and 1.9 million barrels was expected by market experts and surveys. On Tuesday, data by the …

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• 22 July 2020 7:18 pm

  US Home Sales Post New Record Increase

  

  Home sales in the United States registered its highest rise on record last month, due to historically low mortgage rates, according to data by the National Association of Realtors, Reuters reported. Existing home sales in the US increased by 20.7% on a monthly basis to a seasonally adjusted annual rate …

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• 22 July 2020 6:06 pm

  ECB Lagard: EU’s Fiscal Package Could’ve Been Better, But Reasonable

  

  On Tuesday, the EU member states approved a 750 billion euro recovery fund which included 360 billion euros in loans and 390 billion euros in grants. The money will be raised collectively by selling bonds. European Central Bank (ECB) President Christine Lagarde talks on Wednesday, she said that the fact …

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• 22 July 2020 5:39 pm

  Canada: Annual CPI in June Climbs to 0.7%

  

  Canada’s annual consumer price index rose more than expected in June as data released by Statistics Canada on Wednesday showed that Canada’s inflation, measured by the CPI, rose 0.7% year-on-year in June, above market expectations of 0.2% monthly basis. The consumer price index reached 0.8%. The USD/CAD pair remains in …

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• 22 July 2020 5:30 pm

  House Prices in US Retreats in May

  

  House prices in the United States of America fell during last May missing expectations. Data released by the Federal Housing Finance Index on Wednesday showed that house prices increased by -0.3% MoM, compared to 0.1% in the previous April. Analysts had expected US house prices to rise by 0.4% in …

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• 22 July 2020 4:30 pm

  Baker Hughes Announces Q2 Loses

  

  Baker Hughes Oilfield Services announced on Wednesday that it posted its second quarterly loss this year and warned that it was preparing for a longer period of fluctuation after falling oil prices undermined demand for services. The net loss attributable increased to $ 201 million, or 31 cents per share, …

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• 22 July 2020 3:49 pm

  Oil fell on US Inventories

  

  Oil prices rose on Tuesday, with a larger-than-expected increase in US, and the increase in cases of Covid19 may lead to an increase in fuel demand in the largest oil consumer in the world. Brent crude futures for September delivery are currently trading at $ 44.29 a barrel, down by …

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• 22 July 2020 2:29 pm

  China Closes Its Consulate in Houston on US Decision

  

  The US has abruptly informed China to close its consulate in Houston in the next 72 hours on Tuesday, July 21. The geopolitical tensions intensified on this news, as China’s foreign ministry urged the US to correct this mistake, or otherwise, there will be retaliation. The State Department’s spokesperson Morgan …

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• 22 July 2020 1:14 pm

  China’s Economy Recovers, PBOC Pausing Stimulus

  

  As the world’s second-largest economy rebounds, People’s Bank of China (PBOC) is pausing its monetary policy easing, Reuters reported, citing four sources on the matter. The report says that the PBOC doesn’t see the need to ease further amid the economic recovery. Earlier this year, China’s central bank took extensive …

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