Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 10 September 2020 11:28 am

  US Energy Secretary: Hurricane Laura Caused Extensive Damage to a Site That Contains About 30% of Crude Oil Reserves

  

  US Energy Secretary Dan Brouillette said that Hurricane Laura caused massive damage to a site that houses about 30% of the country’s emergency crude oil reserves, but three other sites still have a lot of oil. The damaged Strategic Petroleum Reserve site in West Huckberry, Louisiana, contains nearly 8.2 billion …

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• 10 September 2020 10:45 am

  FX Option Expiries For Sept 10 NY Cut

  

  FX option expiries for Sept 10 NY cut at 10:00 Eastern Time, can be found below. – EUR/USD: EUR amounts 1.1700 587m1.1780 1.0bn1.1790 517m1.1800 740m1.1890 789m – GBP/USD: GBP amounts         1.2960 201m1.3090 262m – USD/JPY: USD amounts          105.00 923m105.80 780m105.85 1.1bn106.00 1.9bn106.50 660m106.75 557m107.00 650m107.05 560m107.11 1.2bn – NZD/USD: NZD amounts 0.6600 …

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• 10 September 2020 10:38 am

  Oil prices Rising From a 3-Month Low, Demand Concerns Remain

  

  Oil futures rose again on Wednesday to compensate for some of the losses of the previous session, but the renewed growth of Covid-19 infections in some countries undermined hopes for a steady recovery of global demand. Brent crude advanced $ 1.01, equivalent to 2.5%, to be settled at $40.79 a …

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• 10 September 2020 10:35 am

  API: Crude Stocks Rise and Gasoline Falls

  

  American Petroleum Institute data on Wednesday showed that US inventories of crude oil and distillates increased last week, while gasoline inventories declined. Crude inventories increased by 3 million barrels over the week ending in the fourth of September to about 504.1 million barrels, while analysts expected a decrease of 1.4 …

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• 10 September 2020 1:00 am

  NYSE Shows Strong Rebound Signs

  

  The New York Stock Exchange (NYSE) recovered on Wednesday a large portion of its losses over the last three sessions. Renewed strong buying activity for tech stocks, which recently witnessed sharp declines, helped the rebound. The Dow Jones Industrial Average closed higher by 439.58 points, or 1.6%, at 27,940.47 points. …

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• 10 September 2020 12:18 am

  Oil Prices Recover Some of Its Losses

  

  Oil prices closed higher on Wednesday, amid a decline by the US Dollar (USD), recovering some of its losses on Tuesday. Brent crude futures for November delivery increased by $1.01, or 2.5%, to settle at $40.79 per barrel, after falling below $40 for the first time since June yesterday. The …

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• 10 September 2020 12:00 am

  Gold Maintains Gains as USD Weakens

  

  Gold prices rose on Wednesday for the second consecutive day supported today by a decline in the US Dollar (USD) amid a rebound by the Euro ahead of the European Central Bank’s (ECB) upcoming meeting. Gold futures for December delivery increased by $11.70, or 0.6%, and settled at $1,954.90 per …

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• 9 September 2020 11:13 pm

  European Commission: Economic Sovereignty at Stake

  

  A recent report by the European Commission has warned that the European Union’s economic sovereignty is at stake due to the high dependence on imports, Bloomberg reported. “The EU is heavily dependent on non-EU countries for critical raw materials that are essential for staying at the forefront of global competition, …

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• 9 September 2020 10:58 pm

  IMF: COVID-19 Crisis Not Over Yet

  

  The coronavirus (COVID-19) crisis is far from over, a recent report by the International Monetary Fund (IMF) warned on Wednesday, according to Reuters. “The recovery remains very fragile and uneven across regions and sectors. To ensure that the recovery continues, it is essential that support not be prematurely withdrawn.” “Globally …

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• 9 September 2020 10:45 pm

  Poll: No-Deal Brexit Growing More Likely

  

  A Reuters poll showed on Wednesday that the possibility of the United Kingdom (UK) and the European Union (EU) failing to reach a new trade agreement by the end of 2020 is increasing with recent talks between the two sides reportedly stalling. There is a number of disagreements between the …

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• 9 September 2020 9:39 pm

  USD Retreats Despite Positive Data

  

  The rise in job openings in the United States did not provide the needed support for the US Dollar (USD) to maintain its rising trend on Wednesday. The Dollar Index (DXY), which measures the performance of the USD against a basket of six major international currencies, is down by 0.19% …

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• 9 September 2020 8:11 pm

  US Job Openings Rise in July

  

  Job openings in the United States increased by 617,000 to 6.6 million by the end of July, data by the US Department of Labor showed on Wednesday, Reuters reported. The Department of Labor monthly Job Openings and Labor Turnover Survey (JOLTS) showed that job opportunities remained below 7 million, its …

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• 9 September 2020 8:04 pm

  Bank of Canada: Economic Rebound Faster than Anticipated

  

  Today, the Bank of Canada maintained its main interest rates and decided to continue its quantitative easing (QE) program, with large-scale asset purchases of at least CAD 5 billion worth of government bonds every week. “Both the global and Canadian economies are evolving broadly in line with the scenario in …

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