Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 5 August 2020 1:29 pm

  Business Activity in Eurozone is Witnessing a Modest Recovery

  

  A survey showed that Eurozone business activity recorded a modest recovery in July as some restrictions imposed to prevent the spread of the Covid 19 were lifted. Friday’s data showed the economy shrinking in the bloc by 12.1% in Q4, while a Reuters poll expected growth of 8.1% in July …

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• 5 August 2020 1:04 pm

  UK Businesses Grow at Fastest Pace in Five Years

  

  A survey showed that British companies in the services and manufacturing sectors grew at the fastest pace in more than 5 years last month, with the start to recover from the effects of Covid-19 on the economy. The IHS Markit / CIPS final composite Purchasing Managers’ Index (PMI) rose to …

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• 5 August 2020 12:25 pm

  USD/CAD Slides to Over 5-Month Lows

  

  The USD / CAD weakened further and fell below 1.3300 to the lowest level since February 26 during the European session today. The pair saw some subsequent sell-off during the first half of trading on Wednesday and broke below the monthly support levels in June near the 1.3315 area, and …

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• 5 August 2020 12:07 pm

  European Shares Higher on Strong Earnings Reports

  

  European stocks rose on Wednesday, influenced by positive earnings reports and massive amounts of stimulus across the financial system, all of which overshadowed concerns over the increasing numbers of Corona cases in Europe and the United States. The pan-European STOXX 600 index (STOXX) rose 0.7%, with the oil & gas …

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• 5 August 2020 11:20 am

  Crude Oil Futures Rose During Asian Session

  

  Crude oil futures rose during the Asian session on Wednesday. According to the New York Mercantile Exchange, crude oil futures were traded for September at $41.69 a barrel, up 0.02%. It was previously traded at a session high of $41.73 a barrel. Crude oil may find support at $38.72 and …

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• 5 August 2020 10:43 am

  Gold Futures Fell During Asian Session

  

  According to the COMEX, gold futures were traded for October at $2017.60 an ounce down 0.45%. It was previously traded at $2015.50 an ounce, lower session. Gold may find support at $1941.70 and resistance at $2036.00. The dollar index contracts, which measure the performance of the greenback versus a basket …

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• 5 August 2020 10:22 am

  FX option expiries for Aug 5 NY cut

  

  FX option expiries for Aug 4 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1650 1.8bn1.1725 769m1.1750 827m – USD/JPY: USD amounts          105.75 401m106.00 521m106.07 444m – USD/CAD: USD amounts         1.3330 1.4bn1.3450 738m

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• 5 August 2020 1:59 am

  Daily Recap: Tuesday, August 4, 2020

  

  Gold continued its historic rise, amidst increased demand for safe havens, despite the US Dollar recovering on the back of positive economic data. This data also helped crude oil prices resume gains, while stock markets showed a mixed performance around the globe. Here is a look at today’s top stories. …

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• 5 August 2020 1:09 am

  Wall Street Closes in Green

  

  Wall Street closed Tuesday higher with a positive investor sentiment resulting from a number of financial results and talks about a new stimulus package that is currently being discussed in Washington. The Dow Jones Industrial Average gained 164 points or 0.62% and closed at 26,828.47 points. Meanwhile, S&P 500 and …

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• 5 August 2020 1:03 am

  Oil Finished at Highest Level in Five Months

  

  Oil prices rose on Tuesday to its highest level in about five months, supported by positive economic data that signals the global recovery from the economic impacts of the COVID-19 crisis. The global benchmark Brent crude futures rose by 28 cents or 0.6% and settled at $44.43 per barrel, its …

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• 4 August 2020 10:56 pm

  Gold Futures Close above $2,020 per Ounce

  

  Gold prices surged on Tuesday, closing at a new record level due to increased demand on safe havens and a decline in US Treasury bond yields. Despite the US Dollar (USD) showing recovery signs on the back of positive economic data, the precious metal was over to continue its upward …

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• 4 August 2020 10:47 pm

  IMF: Current Account Imbalances to Decline in 2020

  

  The global current account imbalances have narrowed in 2019 as international trade slowed, and the COVID-19 could further narrow it in 2020, the International Monetary Fund (IMF) said in a report on Tuesday, Reuters reported. However, commodity exporters and countries that depend on tourism are expected to register current account …

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• 4 August 2020 10:25 pm

  AUD Rises Following RBA Statement

  

  The Australian Dollar (AUD) is rising across the board against major currencies, supported by the recent decision and policy statement by the Reserve Bank of Australian (RBA). As expected, the RBA maintained its main rate at 0.25%, a historically low rate, which aims to curb the effects of the COVID-19 …

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