Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 7 July 2020 6:47 pm

  Canadian Ivey PMI Surges in June

  

  Seasonally adjusted Canadian Ivey Purchasing Managers’ Index (PMI) rose to 58.2 in June from 39.1 in May, versus a consensus expectation of 25.1. The index give a signal of economic recovery, after passing the 50-point mark for the first time since February, with economic activity slowing down during the past …

  Read More »
• 7 July 2020 6:27 pm

  Canadian Economy to Contract by 7% in 2020

  

  Moody’s Investors Service expects the Canadian economy to contract by 7% in 2020 due to the COVID-19 pandemic, Reuters reported. Canadian provinces are expected to stabilize their rising debt burdens once economic growth resumes, according to Moody’s, however, the rating agency sees all 10 provinces posting deficits in the fiscal …

  Read More »
• 7 July 2020 5:59 pm

  US Dollar Index Returns Below 97.00

  

  The US dollar index, DXY, which measures the strength of the greenback versus a basket of currencies, lost the upward trend and slid back to 97.00 levels after Wall Street’s opening bell. The US dollar index maintained gains in the 96.80 region, which is the positive zone, advanced for the …

  Read More »
• 7 July 2020 5:26 pm

  Germany Expects The Economy to Recover in October

  

  German Minister of Economy Peter Altmaier said during press statements that he expects that his country’s economy is recovering from the repercussions of Covid-19 in October. Altmaier added that the economy will shrink by 6% in 2020 and then return to growth by more than 5% in the following year. …

  Read More »
• 7 July 2020 4:30 pm

  Forex Overview Today

  

  Markets stabilized and the US dollar attempted a recovery after risk-on sentiment on Monday, buoyed by rising Chinese stocks and easing Coronavirus concerns in the United States. Gold managed to rise despite the risk appetite, solid above 1780, and may be ready for a leg higher throughout the day. Sunday’s …

  Read More »
• 7 July 2020 3:37 pm

  WTI Battles $40

  

  West Texas Intermediate crude oil (WTI) futures bounced but facing a difficult time extending this bounce above 40 as risk aversion trades continue in the European session. Traders are waiting for any clues for sentiment with Coronavirus update in US as well as crude oil inventory data from the American …

  Read More »
• 7 July 2020 2:42 pm

  Gold Slipped as Dollar Strengthened

  

  Gold prices fell during trading on Tuesday, with the rise of the US dollar and amid anticipation of economic data. The prices of the yellow metal are currently trading at levels of $ 1776.98 an ounce, down by 0.43%, while the metal futures, August delivery, fell to $ 1787 an …

  Read More »
• 7 July 2020 2:04 pm

  Eurozone Agrees 750 M Euros of Debt Relief Measures For Greece

  

  The Eurozone agreed on Tuesday new debt relief measures for Greece worth about 750 million euros ($840 million) as part of the country’s post-bailout program. According to Reuters. The money comes from profits made by eurozone central banks on Greek government bonds and the reduction to zero of the step-up …

  Read More »
• 7 July 2020 1:26 pm

  UK Consumers Remain Cautious

  

  The British Retail Association reported Tuesday that the number of shoppers in retail stores decreased by nearly 50% this week compared to last year, and the amount of money spent in restaurants and bars decreased after the reopened. These data come a day before Finance Minister Rishi Sunak is due …

  Read More »
• 7 July 2020 1:02 pm

  UK House Prices Fall

  

  British house prices fell for the fourth consecutive month in June as Covid-19 pressures continued on the market, marking the longest monthly decline since 2010. mortgage lender Halifax said on Tuesday Average house prices fell 0.1% in June after a 0.2% decrease in May and 0.9% lower than Q1 2020. …

  Read More »
• 7 July 2020 12:22 pm

  EU Commission: Severe Risks to The Economic Outlook

  

  “Sees EU area 2020 GDP at -8.7% vs. the previous forecast of -7.7%.Cuts Spain growth estimate for 2020 To -10.9% from -9.4%.Downgrades Italy growth estimate for 2020 To -11.2% from -9.5%.2021 forecast now at 6.1% from 6.5%.Downgrades French growth estimate for 2020 To -10.6% from -8.2%.Upgrades German growth estimate for …

  Read More »
• 7 July 2020 11:38 am

  Japanese Stocks Close Down After Three-Day Winning Streak

  

  Japanese shares ended the Asian session on Tuesday, Down. Japan’s Nikkei fell 0.44% at 22,614.69. The highest level of Nikkei during the trading session was 22,742.28, while the lowest at 22,540.44. MSCI’s broadest index of Asia-Pacific shares outside Japan was down 0.2% after it briefly traded in positive territory. Hong …

  Read More »
• 7 July 2020 11:03 am

  Oil Prices Remain Above $ 40

  

  Crude oil prices continued to trade above $ 40 a barrel, but the resulting fears of a growing number of Covid-19 cases around the world, especially the United States, are limiting the rise in oil prices. Brent crude contracts reached levels of $ 43.32 a barrel, up by 1.12% on …

  Read More »