Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 6 August 2020 12:16 pm

  Gold Futures Rose During Asian session

  

  According to the COMEX, gold futures for October were traded at $ 2051.60/ounce, up 0.71%. It was previously traded at a session high of $2052.20/ounce. Gold may find support at $1960.00 and resistance at $2057.50. The dollar index, which measures the performance of the greenback against a basket of six …

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• 6 August 2020 12:08 pm

  Japan Stocks Fell by Weak Season

  

  Japanese stocks fell on Thursday as investors continued to shy away from risky bets amid a weak earnings season, but Toyota shares surged after unexpectedly avoided a loss last quarter. The Nikkei fell 0.43% to 22,418.15 points, and technology and consumer goods stocks were the most declining. The broader TOPIX …

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• 6 August 2020 11:23 am

  German Industrial Orders Growth Accelerated in June

  

  Data from the Federal Statistics Office reported that orders for German industrial goods increased sharply in June as Europe’s largest economy began to set aside the effects of months of public isolation measures aimed at fighting the spread of the Covid-19, but volumes were still well below pre-pandemic levels. Orders …

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• 6 August 2020 10:46 am

  BOE Leaves Monetary Policy Unchanged

  

  The Bank of England’s (BOE) Monetary Policy Committee (MPC) decided to leave the policy rate unchanged at 0.1% at its June policy meeting as expected. Furthermore, the BOE held the Quantitative Easing (QE) program unchanged £745 billion.

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• 6 August 2020 10:45 am

  FX Option Expiries For Aug 6 NY Cut

  

  FX option expiries for Aug 6 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1700 1.2bn1.1725 1.1bn – GBP/USD: GBP amounts         1.3000 708m – USD/JPY: USD amounts          105.00 2.8bn USD105.25 660m105.60 385m105.65 630m105.75 467m105.85 380m106.00 444m106.25 945m106.50 715m 106.75 680m – AUD/USD: AUD amounts 0.7150 …

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• 6 August 2020 1:30 am

  Daily Recap: Wednesday, August 5, 2020

  

  Demand for safe havens continues to shape the market, while the stock market remains largely dependent on earnings reports. Gold prices continued to make new historic high levels, while oil prices rose to their highest level in five months. This has provided support for commodity currencies such as the Canadian …

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• 6 August 2020 12:14 am

  Wall Street Settles Higher on Positive Reports

  

  Positive earnings reports by some of the Wall Street listed companies led the indices of the New York Stock Exchange (NYSE) to close higher on Wednesday. The Dow Jones Industrial Average gained around 373 or 1.4% and closed at 27,201.5. Meanwhile, the S&P 500 and the Nasdaq Composite indices closed …

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• 5 August 2020 11:48 pm

  Oil Settles at Highest Level in Five Months

  

  Oil prices settled higher on Wednesday, at its highest closing level in about five months, after data showed a more than expected decline in US crude inventories. Brent crude futures for October delivery closed higher by 74 cents or 1.7% at $45.17, its best since March 6. Meanwhile, the West …

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• 5 August 2020 10:59 pm

  European Stocks Rise Collectively

  

  European stocks closed higher on Wednesday, supported by a number of positive financial results by listed companied, despite mixed economic indicators as shown by PMI data. The Stoxx Europe 600 index added 0.43% and closed at 364.95 points. FTSE100 surged by 1.14% while CAC40 increased by 0.90% and DAX gained …

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• 5 August 2020 10:37 pm

  Gold Rally Continues Near $2,050 per Ounce

  

  Gold prices rose on Wednesday reaching another record high level on the back of increased demand for the previous metal. Gold futures for December delivery added $28.30 or 1.4% and settled at $2,049.30 per ounce. The yellow metal has now gained about 34% since the beginning of 2020.

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• 5 August 2020 10:32 pm

  Kaplan: COVID-19 is Muting Economic Recovery

  

  President of the Federal Reserve Bank of Dallas, Robert Kaplan, told CNN on Wednesday that the US economy needs the extension of unemployment benefits, Reuters reported. Kaplan expects gross domestic product (GDP) to grow by 20% in the third quarter (Q3), and contract by 50% in 2020. “The issue with …

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• 5 August 2020 9:59 pm

  IHS Markit: US Services PMI Records 50 in July

  

  The seasonally adjusted final IHS Markit US Services PMI Business Activity Index registered a neutral 50 in July, up from 47.9 in June. This is the third monthly rise in a row for the index, and it market the end of five months of contraction, or registering readings below the …

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• 5 August 2020 9:48 pm

  CAD Continues to Show Strength against USD

  

  The Canadian Dollar (CAD) is showing a strong performance against the US Dollar (USD), supported by the recovery of oil prices, reaching its highest level in five months. Meanwhile, the USD continues to show general weakness across the board against major currencies. The USD/CAD has decreased by around 5.8% since …

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