Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Japanese stocks closed higher on Monday, August 31, recovering from heavy losses seen in the previous session, as concerns over the resignation of Prime Minister Shinzo Abe eased thanks to speculation that his potential successor will continue his current policies. The benchmark Nikkei Index rose 1.12% to 23,139.76 points, and …
Read More »Market Analysis
August, 2020
-
31 August 2020 10:51 am
FX Option Expiries For Aug 31 NY Cut
FX option expiries for Aug 31 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1750 536m1.1800 1.1bn1.1900 1.4bn – GBP/USD: GBP amounts 1.3250 272m – USD/JPY: USD amounts 104.50 378m105.00 754m105.25 575m105.75 457m106.00 438m
Read More » -
31 August 2020 10:47 am
Weekly Recap 24-28 AUG
Fed Chair Jerome Powell’s speech was what got most of the attention last week. Fed Chair’s comments included announcing a shift in monetary policy to support the labor market and the economy indicating that the Fed may keep low-interest rates for longer. The Dow Jones rose 0.6% to 28,653.8, posting …
Read More » -
31 August 2020 10:19 am
Chinese Manufacturing Activity Slowed in August
Chinese manufacturing activity growth slowed this month, dropping to 51 points from 51.1 in July, as floods in southwest China disrupted production. With the recorded slowdown, however, Chinese manufacturing activity remained above 50 points, which is the separating point between expansion and contraction, which indicates that the Chinese economy continues …
Read More » -
29 August 2020 2:03 am
NYSE Settle Higher with Weekly Gains
The New York Stock Exchange (NYSE) finished higher on Friday, extending their weekly and monthly gains. The Dow Jones Industrial Average closed higher by 161.60 points or 0.57% at 28,653.87, rising by 2.6% for the week. Meanwhile, the S&P 500 index finished at 3,508.01, after rising by 23.46 or 0.67%, …
Read More » -
29 August 2020 1:57 am
Oil Prices Close Lower and Limit Weekly Gains
Oil prices settled lower on Friday, but recorded weekly gains mostly due to output disruptions in the Gulf of Mexico that resulted from Hurricane Laura. Brent crude futures for October delivery decreased by 4 cents, or 0.09%, and finished at $45.05 per barrel, rising by 1.6% for the week. The …
Read More » -
28 August 2020 11:19 pm
NZD/USD Leads Top Performing Pairs
The New Zealand Dollar (NZD) expanded its gains on Friday, with most gains seen against the US Dollar (USD), following recent remarks by the US Federal Reserve that showed tolerance towards inflation going above the 2% target. This comes two week after the Reserve Bank of New Zealand (RBNZ) increased …
Read More » -
28 August 2020 10:49 pm
Gold Futures Finish Week in Gains
Gold prices rose on Friday switching earlier weekly losses into gains. Gold futures for December delivery added $42.30, or 2.2%, and settled at $1,974.90 per ounce, rising by 1.4% for the week. Meanwhile, silver futures for December delivery increased by 59 cents, or 2.2%, to finish at $27.79 per ounce, …
Read More » -
28 August 2020 9:53 pm
US Merchandise Trade Deficit Hits Record High
The United States merchandise trade deficit increased during July to its second-largest level on record, Bloomberg reported. As imports returned to their pre-COVID-19 levels, the deficit increased to $79.3 billion in July from a revised $71 billion in June, according to data by the Department of Commerce on Friday. Imports …
Read More » -
28 August 2020 9:34 pm
European Stocks Close Lower and Limit Weekly Gains
European stocks closed lower on Friday, finishing a week in which it showed a mixed performance. The Stoxx Europe 600 index closed down by 0.52% and closed at 368.80, limiting its weekly gains to around 1%. The UK’s FTSE100 fell by 0.61%, while the French index CAC40 finished lower by …
Read More » -
28 August 2020 8:57 pm
Germany to Revise Growth Forecast
The German government is revising its economic growth forecast for 2020, expecting Germany’s gross domestic product (GDP) to contract by less than 6%, compared with previous estimates of a 6.3% contract, Reuters Reported. Europe’s largest economy contracted by 9.7% in the second quarter of 2020, due to the coronavirus (COVID-19) …
Read More » -
28 August 2020 6:49 pm
Consumer Sentiment Improves in August
The University of Michigan’s Index of Consumer Sentiment improved in August to a reading of 74.1, up from 72.5 in July. The 2.2% monthly increase is accompanied by a 17.5% yearly decline, as the index remains way below its level in August 2019 at 89.8. The Current Economic Conditions index …
Read More » -
28 August 2020 6:31 pm
Chicago Business Barometer Declines in August
The Chicago Business Barometer declined to 51.2 in August, registering its second consecutive reading above the 50-mark, according to data by the Institute for Supply Management (ISM) – Chicago. Among the five main indicators, order backlogs was the only category to show a monthly decline, with supplier deliveries recorded the …
Read More »