Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 28 August 2020 1:57 am

  NYSE Closes Mixed Following Fed Remarks

  

  The New York Stock Exchange (NYSE) closed mixed on Thursday, after remarks by the US Federal Reserve suggested inflation could go above the 2% target. The Dow Jones Industrial Average rose by 0.57% to finish at 28,492.27 points. The S&P 500 index closed at another all-time high after rising by …

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• 28 August 2020 1:24 am

  Natural Gas Soars to Highest Level since November

  

  Natural-gas futures rose on Thursday to their highest level since November 2019, after the release of stockpiles data. Natural gas futures for September delivery rose by 12 cents, or 4.83%, and settled at $2.579 per million British thermal units (MBTU). This comes after data by the US Energy Information Administration …

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• 28 August 2020 1:17 am

  US Treasury Yields Rise Following Fed’s Policy Review

  

  The US Treasury yields rose on Thursday, following remarks by the Federal Reserve Chairman, Jerome Powell. Powell said that American monetary policy makers aim for an average annual inflation rate of 2% as the Fed revealed its policy review. Returns on the benchmark 10-year Treasury bonds rose by 5.8 basis …

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• 28 August 2020 1:08 am

  Oil Settles Lower After Three Rises

  

  Oil prices finished Thursday lower, after rising for three consecutive days on the back of a draw in US crude inventories and output disruptions in the Gulf of Mexico due to hurricane Laura. Brent crude futures for October delivery decreased by 55 cents, or 1.2%, and closed at $45.09 per …

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• 27 August 2020 11:18 pm

  USD/CAD Recovers From Lowest Level in Seven Months

  

  The Canadian Dollar (CAD) rose against the US Dollar (USD) on Thursday to its highest level in around seven month. The USD/CAD pair is trading lower by 0.15% at 1.31249, after trading earlier as low as 1.3101, its lowest level since mid-January. The CAD gave up some of its earlier …

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• 27 August 2020 11:10 pm

  Gold Closes Lower Following Fed Remarks

  

  Gold prices finished Thursday lower, after remarks by the Chairman of the United States Federal Reserve, Jerome Powell, came in line with market expectations. Gold futures for December delivery closed lower by $19.90, or 1%, at $1,932.60 per ounce. The yellow metal has diminished most of its earlier gains, after …

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• 27 August 2020 10:12 pm

  Kaplan: Inflation Could Reach 2.25% or 2.5%

  

  The President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Thursday that a moderate inflation overshoot means reaching a rate of 2.25-2.5%. Kaplan called for focusing on the future instead of the past, and noted that the Fed is expecting a hotter labor market. In addition, Kaplan …

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• 27 August 2020 10:01 pm

  European Stocks Close Lower Following Powell Speech

  

  European stocks closed lower on Thursday, after the recent speech of the United States Federal Reserve Chair Jerome Powell. The Stoxx Europe 600 index declined by 0.58% and closed at 370.96 points. The UK’s FTSE100 index settled lower by 0.75% at 5,999.99. Meanwhile, the French CAC40 and the German DAX …

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• 27 August 2020 9:09 pm

  Democrats Demand Increased Spending for Stimulus Package

  

  The White House need to agree on increased spending for the next COVID-19 stimulus package, said the United States House of Representatives Speaker, Nancy Pelosi, on Thursday. Recently, the President of the United States, Donald Trump, claimed that his administration has saved more than 50 million jobs, through the COVID-19 …

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• 27 August 2020 7:13 pm

  US Pending Home Sales Rise in July

  

  The United States Pending Home Sales Index increased by 5.9% to 122.1 in July, according to data by the National Association of Realtors on Thursday.

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• 27 August 2020 5:57 pm

  UK Car Production Ramps up in July

  

  Data from the auto sector revealed that car production in Britain increased strongly in July, but is still below the level of last year, after manufacturing almost completely stopped in April at the start of isolation measures to combat the Corona virus. The Association of Automobile Manufacturers and Dealers said …

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• 27 August 2020 5:27 pm

  Powell Speech: Fed Not Tying Itself to Any Particular Method to Define Average Inflation

  

  Jerome Powell, Chairman of the Federal Reserve System, is delivering his remarks at the virtual Jackson Hole Economic Policy Symposium titled “Navigating the Decade Ahead: Implications for Monetary Policy.” “Fed not tying itself to any particular method to define average inflation, policy will not be dictated by any formula.”“Fed will …

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• 27 August 2020 5:15 pm

  FOMC Chairman Powell Says Fed Will Target Average Inflation as New Strategy

  

  Jerome Powell, Chairman of the Federal Reserve System, said that the Fed in its new strategy will target average inflation in his prepared remarks at the virtual Jackson Hole Economic Policy Symposium.

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