Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 24 August 2020 8:31 pm

  WTO Supports Canadian Complaint Against US Tariffs

  

  The World Trade Organization (WTO) is supporting Canada in its complaint against the United States’ recent decision to impose tariffs on Canadian softwood lumber exports, Reuters reported. A WTO panel decided that the US breached international trade rules. On the other hand, the move aimed at countering unfair subsidies by …

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• 24 August 2020 7:57 pm

  USD/CAD Recovers Earlier Losses

  

  The Canadian Dollar (CAD) has been appreciating against the US Dollar (USD) for the past six weeks, however, the USD/CAD is recovering some of its earlier losses. After dropping earlier today to its lowest level since January, the pair is currently trading at 1.3224, up by 0.36% for the day. …

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• 24 August 2020 7:06 pm

  Chicago Fed National Activity Index Declines in July

  

  The Chicago Fed National Activity Index (CFNAI) declined to 1.18 in July from 5.33 in June, suggesting slower but still well-above-average growth last month. The fall of the index was due to some moderation in the growth of production- and employment-related indicators, according to data by the Federal Reserve Bank …

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• 24 August 2020 5:55 pm

  S&P and Nasdaq to Fresh Highs

  

  The benchmarks S&P 500 and the Nasdaq opened at record highs on Monday after the US drug regulator approved the use of blood plasma to treat Covid-19 patients and thanks to a report that the Trump administration may speed up the process of adopting a potential vaccine. S&P rose 20.93 …

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• 24 August 2020 5:36 pm

  Euro Rises on Renewed Purchases of Riskier Currencies

  

  The single European currency has witnessed positive movements during Monday’s trading, settling above the lowest level in a week against the US dollar recorded earlier, after the US dollar’s ​​rise slowed, in conjunction with renewed purchases of high-risk currencies. The euro is currently higher against the dollar by more than …

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• 24 August 2020 5:03 pm

  Sterling Bouncing Above 1.3100

  

  The British pound bounced back to trade above 1.3100 after failing to maintain stability above this level, with pressure on the US dollar and a return to activity in riskier currencies. The pound sterling is currently trading at 1.3128 levels, up about 0.3%, after it was trading below the 1.3100 …

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• 24 August 2020 3:24 pm

  China Supports Companies Using Legal Means to Protect Rights and Interests

  

  China said it supports companies resorting to legal means to protect their rights and interests after ByteDance said it would file a lawsuit against the administration of US President Donald Trump. Chinese Foreign Ministry spokesman Zhao Lijian told reporters in a daily briefing that the actions of US politicians involved …

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• 24 August 2020 2:56 pm

  Dollar falling, New Zealand Lag Behind high-Risk Gains

  

  The dollar fell in early trade in London, while riskier currencies and European stocks rose at the open, and some analysts attributed the improvement in sentiment to the United States ’approval of a treatment for Covid-19 patients. The Coronavirus has killed more than 800,000 people around the world, and the …

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• 24 August 2020 2:49 pm

  European Stocks Higher on hopes for Coronavirus Treatment

  

  European stocks rose from their lowest level in two weeks, as signs of progress in developing a treatment for Covid-19 disease overshadowed concerns about an increase in cases on the continent, threatening to curb an economic recovery. The European STOXX 600 index rose 1.3%, following the gains in Asian markets …

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• 24 August 2020 12:46 pm

  Gold Dropping as Risk Appetite Increases

  

  Gold prices fell as the appetite for risk improved after the US Drug Administration approved the use of blood plasma for people recovering from Covid-19 disease as a treatment option, while the dollar rose. With the closure of the Tokyo Stock Exchange, the spot price of gold was down 0.4% …

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• 24 August 2020 11:53 am

  Nikkei rises, Focus on Prime Minister Abe’s Health

  

  Japanese stocks closed higher, deriving direction from the gains of their Asian counterparts, but growing speculation over Prime Minister Shinzo Abe’s health dented the mood. The benchmark Nikkei index rose 0.28 percent to close at 22,985.51 points, while the broader Topix index rose 0.19 percent to 1,607.13 points. Trading volumes …

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• 24 August 2020 11:33 am

  Oil Rises as Two Storms Approach Gulf of Mexico

  

  Crude oil prices rose on Monday as two storms approached the Gulf of Mexico, cutting more than half of oil production there, and amid optimism about the Coronavirus, after the US Food and Drug Administration allowed the use of blood plasma from recovered patients as a treatment option. Brent futures …

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• 24 August 2020 11:22 am

  Trump Adviser Kellyanne Conway to Resign

  

  Kellyanne Conway, a senior adviser to President Trump, will leave the White house at the end of the month.  Conway, whose title is counselor to the president, has resigned citing the need to focus on her family, according to The Washinton Post.

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