Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 20 July 2020 9:43 am

  Market Weekly Overview

  

  The return of tensions between Washington and Beijing was the centre of attention last week, with the increase in COVID-19 cases in the United States to unprecedented numbers, along with the tensions of the American presidential elections and doubts about Trump’s ability to win the upcoming polls amid the increasing …

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• 18 July 2020 2:43 am

  Fed Opens Main Street Program to NPOs

  

  The US Federal Reserve has opened its Main Street lending program to nonprofit entities, Reuters reported. The move allows healthcare, education, and social service organizations to receive funding from the Fed. “We have listened carefully and adapted our approach so that we can best support them in carrying out their …

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• 18 July 2020 2:36 am

  Former Fed Chairs Call for Extra Stimulus

  

  The two former chairs of the US Federal Reserve have warned that the pace of economic recovery could be slow and uneven, calling for a robust response from legislators to combat the COVID-19 pandemic and its impact, Reuters reported. Former Chair of the Federal Reserve, Janet Yellen, said that not …

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• 18 July 2020 1:13 am

  NYSE Ends Week in Gains

  

  The New York Stock Exchange (NYSE) saw a mixed performance on Friday, but recorded weekly gains despite the investors’ concerns as the number of COVID-19 cases across the US keep increasing. The Dow Jones Industrial Average settled lower for the second session in a row by 0.23%, narrowing its weekly …

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• 18 July 2020 12:50 am

  Oil Futures Settle Lower by 0.5%

  

  Oil prices declined on Friday, but settled nearly unchanged for the week, in the absence of major economic data and the continuing uncertainty regarding the recovery of both the demand for crude oil and the global economy at large. Earlier today, data by Baker Hughes showed that the number of …

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• 18 July 2020 12:21 am

  Gold Maintains Rising Streak for Sixth Week

  

  Gold prices settled higher on Friday by around $10, recording small weekly gains but stretching its upward trend for the sixth consecutive week. Today’s rise in the yellow metal’s prices were supported by the decline of the US Dollar. The price for Gold futures for August delivery increased by $9.70, …

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• 17 July 2020 10:24 pm

  European Stocks Record Weekly Gains

  

  European stocks closed Friday on small gains, with anticipation for the results of the European Union’s (EU) summit, which is set to discuss the economic stimulus package to help the bloc’s troubled economies due to the COVID-19 crisis. The pan-European Stoxx 600 index increased by 0.15% to settle at 372.70, …

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• 17 July 2020 9:22 pm

  USD/CAD Moving Within Small Range

  

  The USD/CAD pair has stabilized on Friday, with the Canadian Dollar (CAD) supported by the increase in wholesale sales, while the US Dollar (USD) is supported by the rise in housing starts, despite a retreat in the consumer sentiment. During today’s trade, the pair has reached a high of 1.35892 …

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• 17 July 2020 6:50 pm

  Michigan Consumer Sentiment Index Declines in June

  

  The University Of Michigan Survey Of Consumers showed that the consumer sentiment index declined in the first half of July due to the widespread resurgence of the coronavirus disease (COVID-19). After the index increased in June, its reading was reversed, leaving the sentiment index in early July insignificantly above the …

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• 17 July 2020 6:21 pm

  Canadian Wholesale Sales Grow 5.7% in May

  

  Wholesale sales in Canada increased over the month of May by 5.7% to $52.6 billion, data by Statistics Canada showed on Friday. This comes after wholesales sales fell during April, due to the outbreak of the coronavirus disease (COVID-19), by 21.4%. However, May’s reading missed market expectations which suggested an …

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• 17 July 2020 6:10 pm

  Wall Street Set to Open Higher

  

  Key Wall Street indices are set to open higher on Friday, as investors optimistic about more official stimulus to push the post-epidemic economic recovery even with record numbers increasing in COVID-19 cases. Dow e-minis were up 157 points, or 0.59%. S&P 500 e-minis were up 21.5 points or 0.67% and …

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• 17 July 2020 6:02 pm

  Eurozone Inflation Rises 0.3% in June

  

  The consumer price index (CPI) in the Eurozone increased during June by 0.3%, as shown by data from Eurostat. The rise in inflation rate to 0.3%, comes after it neared a four-year low of 0.1% in May. The European Central Bank (ECB) continues to target an inflation rate in the …

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• 17 July 2020 5:21 pm

  US Housing jump in June

  

  Homebuilding in the U.S. increased in June with reports of rising demand for housing in low-density areas as companies allowed employees to work from home due to the pandemic. On Friday, the Ministry of Commerce said housing starts rose 17.3% to a seasonal annual rate of 1.186M. May data was …

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