Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 30 July 2020 2:00 pm

  German GDP Shrinks at Record Rate in Q2

  

  The German economy contracted in the second quarter of 2020 by 10.1% vs. -9.0% expected, it’s the biggest decline on record, as shown by preliminary data on Thursday. On a yearly basis, the German gross domestic product (GDP) contracted 11.7% vs. -10.9% decline expected by analysts, according to the German …

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• 30 July 2020 1:32 pm

  Germany’s Unemployment Rate Declined in July

  

  The seasonally adjusted unemployment rate in Germany came in at 6.4% in July vs. 6.5% expected. The figure is better than expected by analysts. Data released earlier beat expectations with the unemployment change falling by 18k in seasonally adjusted terms compared to estimates of an increase of 43k. The adjusted …

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• 30 July 2020 1:06 pm

  EUR/GBP Keeps The Red Near Session Lows

  

  The Euro weakened slightly during the early European session and pushed EUR/GBP to daily lows near the middle of 0.9000 after the German GDP figures. After a short consolidation during the first part of Thursday’s trading, the pair faced some new offers and fell near its lowest levels in a …

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• 30 July 2020 12:26 pm

  Democrats Don’t Agree on All Relief Bill Aspects

  

  U.S. president Donald Trump said on Wednesday that his administration and Democrats in Congress were far apart in their efforts to agree on a coronavirus relief bill, as reported by Reuters. And according to Reuters, Trump accused Democrats of not taking care of Americans with their proposals, and said when …

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• 30 July 2020 12:20 pm

  US 10-year Yield Posting Record Low

  

  The yield on 10-year (inflation-adjusted) US Treasury bonds fell to a new low of -0.95% on Wednesday after the Federal Reserve reiterated its interest-rate keep plan to its lowest levels in the foreseeable future. Jerome Powell, Chairman of the Federal Reserve, said that monetary policy will remain accommodative until the …

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• 30 July 2020 12:13 pm

  China to Support Export Businesses

  

  China plans to boost exports by providing trade-oriented companies with capital and market support, Citing the weekly State Council meeting held Wednesday, the People’s Daily reported this Thursday. Initiatives aim to attract foreign investment through a strengthened political environment and the expansion of the services trade sector. The government stressed …

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• 30 July 2020 12:04 pm

  FX Option Expiries For July 30 NY Cut

  

  FX option expiries for July 30 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – USD/JPY: USD amounts          105.00 712m105.55 524m 105.75 500m 106.00 1.9bn

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• 30 July 2020 12:02 pm

  Austrian Economy Shrank by 10.7% in Q2

  

  Wifo said on Thursday that the Austrian economy shrank by 10.7% in the second quarter, marking the largest contraction since World War II as the Corona pandemic hit domestic and foreign demand. Wifo, which is complies data for the government, said that the hardest hit sectors are retail, hotels, restaurants, …

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• 30 July 2020 4:03 am

  Daily Recap: Wednesday, July 29, 2020

  

  Today’s biggest event was the conclusion of the US Federal Reserve two-day meeting, which as expected decided to maintain interest rates near 0% and vowed to maintain the historically low rates until the economy recover from the impact of the COVID-19 crisis. Meanwhile, gold continues to make history with new …

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• 30 July 2020 3:06 am

  US Treasury Yields Mixed Following Fed’s Statement

  

  The US Treasury yields showed mixed movements on Wednesday, following the Federal Reserve’s decision to maintain interest rates near zero, with the monetary policy statement vowing to maintain the current interest range until economic recovery is achieved. The benchmark 10-year Treasury bond yield declined 0.5 basis point (bps) to 0.576%. …

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• 30 July 2020 2:41 am

  Wall Street Settles Higher Following Fed’s Decision

  

  Wall Street closed higher on Wednesday, supported by recent remarks from the US Federal Reserve Chair, Jerome Powell. Powell reiterated the Fed’s commitment to continue supporting the economy until it fully recovers from the repercussions of the COVID-19 crisis. All the major indices at the New York Stock Exchange (NYSE) …

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• 30 July 2020 2:25 am

  Powell: COVID-19 Surge is Slowing Recovery

  

  The Chairman of the US Federal Reserve, Jerome Powell, said on Wednesday that the rise in COVID-19 cases across many states and preventive measures to contain the virus outbreak are affecting the economic recovery. “We have seen some signs in recent weeks that the increase in virus cases and the …

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• 30 July 2020 1:14 am

  Oil Settle Higher on Large US Inventories Draw

  

  Oil prices rose on Wednesday, after data showed a huge decline in US crude inventories last week. The weekly report by the US Energy Information Administration (EIA) showed earlier that crude oil inventories in the US fell by 10.6 million barrels during the week ended July 24. This marked the …

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