Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 2 July 2020 2:49 pm

  Russian Energy Minister: Oil Market Could Face a Shortage in July

  

  Russia’s Energy Minister Alexander Novak said on Thursday that the global oil market may strike a balance between supply and demand and may face a shortage of crude. Citing Reuters. He added that investments in the global energy sector will decrease by one third this year, noting that recovery in …

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• 2 July 2020 1:59 pm

  Eurozone Unemployment Rate Rises Less Than Expected in May

  

  The Eurozone unemployment rate fell short of economists’ expectations in May, indicating that measures to protect jobs in the Eurozone have paid off. Although the unemployment rate in the Eurozone peaked for four-months high at 7.4%, data from Eurostat reported, economists’ expectations at 7.7%. The unemployment rate in April was …

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• 2 July 2020 1:37 pm

  Fed Warns of a Financial Recession Due to Another Possible Wave of Covid-19 Outbreak

  

  According to Reuters, citing FT, St. Louis Federal Reserve Bank president James Bullard has warned that a growing number of bankruptcies due to the coronavirus outbreak could lead to a financial crisis. Fed officials have warned that there might be other waves of coronavirus infections that could lead to horrible …

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• 2 July 2020 1:08 pm

  EUR/USD Pushing Higher and Approaching 1.1300

  

  The EUR/USD pair continues to trade with better sentiment for the second consecutive session, touching weekly highs near 1.13 levels The combination of hopes for a Covid 19 vaccine and headlines about Europe’s economic reopening has pushed traders toward riskier assets. In terms of data in the euro area, Spanish …

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• 2 July 2020 12:31 pm

  Covid-19 updates: Vaccine trials showing promising results

  

  Today’s updates on Covid-19 Victoria, the Australian state reported 77 new cases this Thursday.Where in the US, cases reached 575. On Wednesday, Pfizer announced that the experimental coronavirus vaccine that they co-developed with BioNTech triggered more robust immune responses in the early-stage of human trials. According to Reuters, BioNTech’s shares …

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• 2 July 2020 12:10 pm

  Asian Stocks Are Near 4-Month Highs With Hopes of COVID 19 Vaccine

  

  Asian stocks were sailing near 4-month highs on Thursday, as hopes doubled over a vaccine for COVID 19, while copper prices rose to a 6-month high. The entire market focus today is on US employment data, due for release later today, which will give clear cues of how the world’s …

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• 2 July 2020 11:49 am

  European Shares Rise as COVID-19 Vaccine Approaches

  

  European stocks rose on Thursday, with hopes increasing for a COVID-19 vaccine and other encouraging data, all of which led to a spike in sentiment ahead of NFP data from the US. Financial markets had started the second half of the year with positive news as the global slump in …

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• 2 July 2020 11:26 am

  The US Dollar Index is Testing 97.00 Before US Data

  

  The US dollar index continues to trade in defensive mode on Thursday. The index fell on data and Risk Trends on Wednesday, as sentiment improved with good news of approaching a vaccine for Covid-19 The better-than-expected US data as ISM Manufacturing rose to 52.6 for the month of June, in …

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• 2 July 2020 11:06 am

  Russian Oil Output Falls to 9.32 mln bpd in June, Approaching OPEC+ Target

  

  Russian oil and gas condensate production fell to 9.32 million barrels per day (bpd) in June from 9.39 million bpd in May, near its target under a deal with the OPEC+ group, Interfax news agency reported on Thursday, citing energy ministry data. The production of oil and gas condensate per …

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• 2 July 2020 1:59 am

  Oil Prices Settle Higher on Decline in US Inventories

  

  Oil prices closed higher on Wednesday, after data showed a decline in the United States crude inventories last week. Brent Crude increased by $0.76 or 1.84% to close at $42.03 per barrel, while the WTI crude futures settled higher by $0.55 or 1.4% at $39.82 a barrel. The US crude …

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• 2 July 2020 1:50 am

  Gold Settles Lower by 0.6%

  

  Gold prices declined on Wednesday, giving up its highest level in about eight years, after positive economic data in the United States and news about a vaccine for the coronavirus disease (COVID-19) lowered demand for safe havens. The price of spot gold fell by around 0.6% to $1,770 per ounce, …

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• 2 July 2020 1:27 am

  S&P 500 and Nasdaq Maintain Gains, Dow Closes Lower

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, with investors growing optimistic about news of a potential vaccine for the coronavirus (COVID-19). The S&P 500 index gained 0.50%, and the NASDAQ Composite Index increased by 0.95%, while the Dow Jones Industrial Average closed lower by 0.3%. A COVID-19 …

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• 2 July 2020 12:45 am

  USD Down as Safe Haven Demand Falters

  

  The US Dollar (USD) declined on Wednesday against major currencies, with improved economic data in the United States and the UK has decreased the demand on the green currency as a safe haven. An increased risk appetite helped the AUD and NZD rise against the USD. The USD/JPY is now …

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