Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 22 August 2020 1:54 am

  Oil Records Weekly Losses on Demand Concerns

  

  Oil prices closed Friday lower, despite a decrease in the United States active oil rig count to a record low, amid renewed concerns regarding demand outlook. This comes after PMI data showed that the global economic recovery is not accelerating. Brent crude futures for October delivery lost 55 cents, or …

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• 22 August 2020 12:32 am

  Gold Records Second Consecutive Weekly Decline

  

  Gold prices rose on Friday, narrowing its weekly losses for the second week in a row. This comes amid the US Dollar recovering some of its recent losses after falling to its lowest level in two years. Gold futures marginally rose by 50 cents, or about 0.1%, and finished at …

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• 21 August 2020 10:04 pm

  China Promises Following Trade Deal with US

  

  The Chinese government has promised the United States to go through with the first phase of the trade deal between the world’s two largest economies, US Secretary of State Mike Pompeo said in a TV interview on Friday. “The Chinese have done some of the work they need to do …

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• 21 August 2020 9:55 pm

  European Stocks Finish Lower on Negative Data

  

  European stocks finished lower on Friday, after PMI data showed a decline in economic expansion in the Eurozone, reflecting challenges in the road to recovery from the impacts of the COVID-19 crisis. The Stoxx Europe 600 index closed lower by 0.21%, increasing its weekly losses to 0.9%. Meanwhile, the UK’s …

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• 21 August 2020 9:50 pm

  EUR/USD Falls Following PMI Data

  

  The IHS Markit flash composite purchasing managers’ index (PMI) for the Eurozone declined in August, to 51.6 from 54.9 in July, reflecting the challenging road for recovery facing economic activity in the European bloc.   However, the index remained in the expansion territory above the neutral 50 reading. The data …

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• 21 August 2020 8:39 pm

  US Oil Rigs Drops to Record Low

  

  Oil rigs in the United States decreased by three rigs during the week ending on 14 August, data by Baker Hughes showed on Friday. The US oil rig count declined to a new record low at a total of 244 rigs last week. The continuous decrease in active oil rigs …

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• 21 August 2020 7:38 pm

  New House Prices in Canada Rise for Third Month

  

  New house prices in Canada increased for the third month in a row during July, data by Statistics Canada showed on Friday. The Canadian new house prices index increased last month by 0.4% on a monthly basis, and by 1.7% on an annual basis.

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• 21 August 2020 7:34 pm

  Canadian Retail Sales Restore Pre-COVID Levels in June

  

  Canadian retailer sales increased during the month of June by 23% to CAD 53 billion, recovering to its level in February prior to the COVID-19 crisis, according to data by Statistics Canada. Retail sales rose across all types of stores, with clothing retailers leading the rise with a 142.3% growth. …

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• 21 August 2020 6:54 pm

  US Existing Home Sales Achieve Record Monthly Increase

  

  Existing home sales in the United States grew by 24.7% to a seasonally adjusted annual rate of 5.86 million units in July, registering the second monthly consecutive monthly increase, as shown by data of the National Association of Realtors (NAR) on Friday. The June reading was revised to 4.70 million …

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• 21 August 2020 6:41 pm

  Eurozone Consumer Sentiment Improves in August

  

  Consumer confidence in the Eurozone improved during August by 0.3 points, according to preliminary data by the European Commission on Friday. The consumer morale index recorded -14.7 this month, up from -15.0 in July. For the European Union (EU), the consumer confidence increased by 0.1 points to -15.5.

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• 21 August 2020 6:01 pm

  US: Markit Manufacturing PMI Improves to 53.6

  

  The business activity in the US manufacturing sector is seen expanding at a robust pace in August with the IHS Markit’s advanced Manufacturing PMI rising from 50.9 in July to 53.6. This reading came in better than the market expectation of 51.9. Further details of the publication revealed that the …

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• 21 August 2020 5:51 pm

  Oil Prices Rising as Producers Talk About Efforts to Cut Supplies

  

  Oil prices rose, and is on the path of achieving gains for the third week in a row, as it was strengthened by the efforts of major crude producers to cut production in light of concerns about the economic recovery from the Coronavirus pandemic. US West Texas Intermediate crude futures …

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• 21 August 2020 5:03 pm

  British Public Debt Exceeds 2 Trillion Pounds For The First Time

  

  Britain’s public debt exceeded 2 trillion pounds ($ 2.65 trillion) for the first time, underscoring the challenge facing Finance Minister Rishi Sunak, who is under pressure to provide more emergency support for the economy ravaged by the coronavirus pandemic. Net debt in July, which excludes public banks, rose to £ …

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