Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 26 August 2020 8:03 pm

  EIA: US Crude Oil Inventories Down by 4.7 M Barrels

  

  Crude oil inventories in the United States declined for the fifth consecutive week, according to data by the US Energy Information Administration (EIA) on Wednesday. Oil stockpiles decreased by 4.7 million barrels last week to a total of 507.8 million barrels. On Tuesday, Estimates by the American Petroleum Institute (API) …

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• 26 August 2020 6:00 pm

  Pound Up, Ignoring Weaker Than Expected UK Retail Sales

  

  The British pound rallied on Tuesday as the US dollar weakened and investors ignored an unexpected drop in monthly retail sales data in Britain. The dollar fell after investors returned to riskier currencies while a successful phone call between the United States’ top trade officials and China sparked a positive …

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• 26 August 2020 5:55 pm

  Cautious Trading of USD, Euro, and a rebound for Yuan

  

  The dollar and euro were cautious in trading on Wednesday, August 26th, with dealers reluctance to make risky bets ahead of an important speech by US Federal Reserve Chairman Jerome Powell. In light of growing expectations that Powell will unveil a more tolerant policy towards inflation at the annual Jackson …

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• 26 August 2020 5:51 pm

  Oil Near Peak of 5 Months Thanks to the US Production Cut

  

  Oil rose today, Wednesday, to about $ 46 a barrel, near the highest level since March, with the support of American producers stopping most of the offshore production from the Gulf of Mexico before Hurricane Laura and a report showing a decline in US crude stocks. But the gains were …

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• 26 August 2020 5:45 pm

  France: Number of Unemployed Fell by More Than 174,000 in July

  

  French Labor Ministry data showed that the number of unemployed in the country fell by 174.3 thousand in July after a record low in June. The ministry added that the number registered with government employment offices as unemployed reached 4.046 million in July. Last month, France recorded the largest monthly …

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• 26 August 2020 5:23 pm

  US Capital Goods Orders Slowed Down in July

  

  New orders for US-made capital goods slowed in July, indicating that the recovery in investment activities could gradually become more gradual over the course of the COVID-19 pandemic even as the industry’s recovery appears to be gaining momentum. The US Commerce Department said non-defense capital goods orders except aircraft, which …

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• 26 August 2020 3:53 pm

  Gold Settles, Focus on Powell’s speech

  

  Gold prices settled on Wednesday, as concerns about the global economic outlook eased pressure from the progress in us-china trade agreement negotiations between, while investors awaited a speech from US Federal Reserve Chairman Jerome Powell. The spot of gold at 1919.71 dollars an ounce, down by 0.44%, while metal futures …

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• 26 August 2020 3:07 pm

  Moody’s: India’s GDP to Contract 3.1% in 2020

  

  In its latest Global Macro Outlook published on Tuesday, Moody’s Investors Service said India’s economic recovery will face a tough path amid adverse real economy and bank weakness. In its latest Global Macro Outlook published on Tuesday, Moody’s Investors Service said India’s economic recovery will face a tough path amid …

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• 26 August 2020 2:07 pm

  Gold Fell as Dollar Rose, Fed in Spotlight

  

  Gold fell on Wednesday, August 25, as the dollar rose, while investors awaiting a speech by Jerome Powell, President of the US Federal Reserve, to obtain indications about the monetary strategy, but concerns about the global economy, which is hit by the Coronavirus pandemic, kept prices above the level of …

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• 26 August 2020 1:53 pm

  Brent Rises on US Production Cuts and Hopes of a Trade Deal With China

  

  Brent crude prices rose on Wednesday, August 26th, supported by US producers halting most of the offshore production from the Gulf of Mexico before Hurricane Laura and optimism about Sino-US trade talks. Gains were limited by renewed fears about the Coronavirus pandemic, which reduced demand for fuel after reports of …

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• 26 August 2020 12:55 pm

  API: Larger Than Expected Drop in US Oil and Gasoline Inventories

  

  Data from the American Petroleum Institute showed that inventories of both crude oil and gasoline in the United States recorded a larger-than-expected decline last week, while distillate stocks rose. Crude inventories fell by 4.5 million barrels in the week to August 21 to about 507.5 million barrels, while analysts had …

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• 26 August 2020 11:50 am

  Oil Producers Stop Pumping 84% of US oil Production in Gulf of Mexico

  

  The US Department of the Interior said that oil producers stopped pumping 1.56 million barrels per day, or 84% of daily production, from US offshore platforms in the Gulf of Mexico ahead of a hurricane expected to hit the region this week. Hurricane Laura is heading north in the central …

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• 26 August 2020 11:37 am

  PBOC Sets Yuan Reference Rate at 6.9079

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9079 versus Tuesday’s fix at 6.9183.

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