Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 12 August 2020 6:10 pm

  OPEC Monthly Report: Global Growth Forecast to 4% in 2020

  

  OPEC said that global oil demand will decline further in 2020 due to the Coronavirus pandemic, and added that the recovery next year will face great uncertainty, indicating growing adverse factors for the organization and its allies in supporting the market. The Organization of the Petroleum Exporting Countries (OPEC) said …

  Read More »
• 12 August 2020 5:55 pm

  US: Real Average Hourly Earnings Decline by 0.4% in July

  

  Real average hourly earnings in the US decreased by 0.4% on a monthly basis in July. US Dollar Index dropped below 93.50 after this report.Real average hourly earnings for all employees in the US declined by 0.4% from June to July (seasonally adjusted), the US Bureau of Labor Statistics reported …

  Read More »
• 12 August 2020 5:31 pm

  US Consumer Prices Rose 0.6% in July

  

  Consumer prices in the US rose more than expected in July, but rising unemployment will likely keep inflation under control, allowing the Federal Reserve to continue pumping liquidity into the economy to help it recover from the recession caused by the Covid-19 pandemic. The US Labor Department said its consumer …

  Read More »
• 12 August 2020 5:05 pm

  Bankruptcies of US Companies Are Heading to Highest Level Since 2010

  

  Bankruptcy cases in the United States are heading to their highest in 10 years this year, with companies suffering from the repercussions of the Coronavirus. According to a report issued by Standard & Poor’s Global, 424 US companies have filed for bankruptcy protection since the beginning of this year until …

  Read More »
• 12 August 2020 4:31 pm

  Russian Economy Contracted at Worst Pace in Nearly 10 Years

  

  Preliminary data showed that the Russian economy contracted by 8.5% on an annual basis in the second quarter of the year, with the country affected by the repercussions of the Coronavirus pandemic and the associated general isolation measures as well as the decline in oil prices, which is Russia’s main …

  Read More »
• 12 August 2020 3:34 pm

  A Disappointing Recovery in Eurozone Industrial Production in June

  

  Official data showed an increase in industrial production for the euro area in June, but the recovery that came after record declines in March and April caused by the Coronavirus pandemic was below expectations for the second month in a row and slower than May. The increase in industrial production …

  Read More »
• 12 August 2020 2:32 pm

  Communications lifted European shares after Sunrise

  

  Telecom stocks boosted European stocks on Wednesday (August 12th) after Liberty Global’s bid to take over Sunrise Communications, while Britain’s FTSE100 index gained on bets on domestic stimulus. The European Stoxx600 index rose 0.2%, gaining for a fourth consecutive session. Sunrise Communications jumped 26.8% after Liberty Global inaugurated a bid …

  Read More »
• 12 August 2020 1:44 pm

  Oil is Rising After a Bigger-Than-Expected decline Oil Inventories

  

  Oil prices rose on Wednesday, August 12, after a report from the sector showed that US crude stocks fell by more than analysts’ expectations, boosting hopes that demand for fuel in the world’s largest economy can survive the Coronavirus pandemic. Brent crude rose 52 cents, or 1.2%, to $ 45.02 …

  Read More »
• 12 August 2020 1:30 pm

  Germany: Russian Vaccine Has Not Been Tested Adequately

  

  German Health Minister Jens Spahn said today, Wednesday, that the Russian vaccine for Covid-19 disease has not been adequately tested, adding that the goal is to create a safe product and not just for a country to be the first to provide a vaccine for people. President Vladimir Putin announced …

  Read More »
• 12 August 2020 11:23 am

  UK Manufacturing Production Rebounds in June

  The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, as the overall industrial sector returned to expansion in June. Manufacturing output arrived at 11.0% MoM in June versus 10.0% expectations and 8.4% booked in June, while total industrial output came in at 9.3% …

  Read More »
• 12 August 2020 11:16 am

  UK’s Sunak: Economy is now in Hard Times.

  

  Following the release of the key UK macro data on Wednesday, the British Finance Minister/ Chancellor Rishi Sunak said that the UK economy is now in ‘hard times’, the figures today confirm that. “There will be many more job losses in the coming months.”“Hundreds of thousands of people have already …

  Read More »
• 12 August 2020 11:12 am

  FX Option Expiries for AUG 12 NY Cut

  

  FX option expiries for Aug 12 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – USD/JPY: USD amounts          105.75 365m106.00 620m – NZD/USD: NZD amounts 0.6525 1.0bn0.6600 285m

  Read More »
• 12 August 2020 2:45 am

  Daily Recap: Tuesday, August 11, 2020

  

  After a continuous upward trend that saw it achieve new unprecedented levels, gold prices were always going to see a correction wave, as stock markets flourished amid an improved risk appetite. Meanwhile, oil prices fell on rising concerns about the COVID-19 pandemic and its effect on the demand recovery, despite …

  Read More »