Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 19 August 2020 10:38 pm

  Fed: COVID Will Weigh Heavily on Economic Activity

  

  The Board of Governors of the US Federal Reserve has unanimously voted to maintain interest rates during the Federal Open Market Committee (FOMC) meeting on July 29. The meeting also authorized the Fed to undertake open market operations as necessary to maintain the federal funds rate in a target range …

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• 19 August 2020 8:51 pm

  Dollar Rises Ahead of FOMC Meeting Minutes

  

  The US Dollar (USD) is reversing its recent losses and showing a positive performance on Wednesday, ahead of the release of the Federal Reserve meeting minutes later today. The Dollar index (DXY), which measures the USD performance against a basket of six major currencies, is up by around 0.50% at …

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• 19 August 2020 7:16 pm

  Canada’s Wholesale Sales Expand in June

  

  Wholesale sales in Canada increased on a monthly basis during June, beating market expectations and restoring its level prior to the COVID-19 crisis. Seasonally adjusted data showed on Wednesday that Canadian wholesale sales grew by 18.5% in June, according to Statistics Canada. On an annual basis, wholesale transactions decreased by …

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• 19 August 2020 6:46 pm

  Canada’s CPI Rises 0.1% in July

  

  The Consumer Price Index (CPI) in Canada slowed during July, rising by 0.1% on an annual basis, data showed on Wednesday. The lower gasoline and air travel prices helped reduce the inflation rate last month. The inflation rate remains well below the central bank’s target.

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• 19 August 2020 6:41 pm

  OPEC+ JMMC Meeting is Scheduled Today, WTI Waiting for Data

  

  Today, Joint Ministerial Monitoring Committee (JMMC) meeting will likely be all about reviewing the bloc’s commitment to oil production curbs and assessing the compliance over the past two months. According to Reuters, July’s compliance of OPEC+ with oil output cuts was expected to reach 97%, down from 107% in June. …

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• 19 August 2020 5:48 pm

  Japan’s Nikkei Index Rises After Gains in US Technology

  

  The Nikkei benchmark index made slight gains at the close on the Tokyo Stock Exchange on Wednesday, with some tech stocks surging after the gains of US giants, with the S&P 500 index climbing to a record high last night. The Nikkei Index is very close to a three-decade high …

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• 19 August 2020 5:03 pm

  European Stocks Weaken After Wall Street Rally

  

  European stocks fell on Wednesday, August 18, and were unable to gain strength from a record rise in S&P 500 index, as investors feared an increase in coronavirus cases would impede the emerging economic recovery in Eurozone. The European Stoxx600 index fell 0.1% by 07:15 GMT, with the mining, oil …

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• 19 August 2020 3:20 pm

  British Health Minister: Most Cases of Corona Occurred in Homes

  

  British Health Minister Matt Hancock said Britain would likely not follow the example of France in requiring people to wear masks in the workplace because its screening and monitoring program shows that most people with Covid-19 disease have been infected at home. “We are not studying to do that at …

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• 19 August 2020 2:18 pm

  Eurozone Current Account Surplus Jumps in June

  

  Data from the European Central Bank showed that the revised surplus of the current account balance in the euro zone, which includes 19 countries, increased to 20.69 billion euros in June from 11.27 billion euros in May, as the trade surplus increased. In the twelve months to June, the bloc’s …

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• 19 August 2020 1:49 pm

  Oil Declining as Demand Concerns Outweigh decline in US Inventories

  

  Oil prices fell on Wednesday, August 19, due to fears that fuel demand in the United States may not recover as quickly as expected in light of the faltering talks on a stimulus package for the economy, overshadowing an exceeded expectations decline in US crude stocks. With investors keeping their …

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• 19 August 2020 1:06 pm

  Gold Down Below $ 2000

  

  Gold fell below $ 2000 dollars an ounce on Wednesday, August 19th, while the dollar rose as investors awaited the minutes of the latest Fed meeting. Spot of gold fell 0.4% to 1993.34 dollars an ounce by 05:05 GMT after hitting the highest level in a week at 2014.97 dollars …

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• 19 August 2020 12:40 pm

  Crude Oil Futures Higher During Asian Session

  

  According to the New York Mercantile Exchange, crude oil futures for September were traded at $42.70 a barrel, up 0.44%. It was previously traded higher at $42.76 a barrel. Crude oil may find support at $41.62 and resistance at $42.99. The dollar index, which measures the performance of the greenback …

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• 19 August 2020 11:48 am

  Japan’s Exports Fell in July For The Fifth Month in a Row

  

  Japan’s exports recorded a double-figure decline for the fifth consecutive month due to the repercussions of the Coronavirus, which led to a decline in car shipments to the United States. Japanese exports in July decreased by 19.2% year-on-year, and exports fell by less than expectations, which indicated a 21% decline. …

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