Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 8 September 2020 9:04 pm

  GBP Falls on Brexit Developments

  

  The British Pound (GBP) declined on Tuesday as negotiations between the UK government and the European Union are once again seeing complications. This is the fifth consecutive session in decline for the GBP, marking its longest downward trend since May. The UK Prime Minister, Boris Johnson, has reportedly threatened to …

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• 8 September 2020 7:33 pm

  Russian Economy’s Contraction Seen Below 4%

  

  Russia’s Minister of Finance Anton Siluanov said on Tuesday that the Russian economy could contract by less than 4% in 2020, Reuters reported. This signals an improvement compared with previous forecasts, with signs of recovery from the COVID-19 pandemic and the drop in oil prices. Meanwhile, the debt-to-GDP ratio is …

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• 8 September 2020 6:19 pm

  Nasdaq Index Drops 3% as Tech Stocks Turmoil Worsens

  

  The Nasdaq Index tumbled more than 3% at the open Tuesday, September 8th as investors sold shares of Tesla and other heavyweight technology companies, while sentiment was negatively affected by growing tension between the United States and China and concerns about a faltering economic recovery. The composite Nasdaq index fell …

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• 8 September 2020 5:31 pm

  Japan: We Want to Reach a Comprehensive Trade Agreement With Britain This Week

  

  A Japanese government official said his country wants to reach a comprehensive deal with the United Kingdom on trade this week, indicating Tokyo’s desire to make progress on a bilateral trade pact before changing the government. Japan’s ruling party will choose a new leader next week to succeed Prime Minister …

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• 8 September 2020 4:37 pm

  UK’s Lewis: Fully committed to Northern Ireland protocol and Withdrawal Agreement

  

  Brandon Lewis, UK’s Secretary of State for Northern Ireland, reiterated on Tuesday that they are fully committed to the Northern Ireland protocol and the Withdrawal Agreement. “We have always sought to honour international obligations.”“Overriding need to respect wishes of the Northern Irish public must be kept in mind.”“Our approach guarantees …

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• 8 September 2020 3:40 pm

  Fitch Ratings Cuts Long-Term Oil Price Assumptions

  

  In its latest report, the US-based Fitch Ratings reduced its long-term price forecasts for both Brent and West Texas Intermediate (WTI) oil. Key points“The cut in the price forecast is to reflect large underutilized production capacities, the extended period of high oil inventory caused by the coronavirus pandemic, falling upstream …

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• 8 September 2020 2:42 pm

  Eurozone GDP Recorded The Largest Decline in Q2

  

  The Eurozone economy contracted slightly below initial expectations in the Q2, but the decline remains the largest ever with the collapse in consumer demand due to COVID-19 restrictions. GDP fell 11.8% compared to the previous quarter, and by 14.7% year-on-year, according to data from the European Statistics Office Eurostat on …

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• 8 September 2020 2:02 pm

  Euro Down Before ECB Meeting And Pound Falls

  

  The euro fell against the dollar on Tuesday, September 8th, as dealers awaited the European Central Bank’s meeting this week, and London’s renewed warning prompted a failure to reach an agreement on Britain’s withdrawal from the European Union. The pound would continue to decline. The euro is hovering around $ …

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• 8 September 2020 1:30 pm

  Novak: Russia Must Restore its Share in Oil Market as soon as Demand Recovers

  

  Russian Energy Minister Alexander Novak said that it is “very important” that Russia and the rest of the oil producers quickly regain their market share or even raise it as soon as the demand for crude recovers. In order to ensure that it does not lose its share in the …

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• 8 September 2020 12:33 pm

  Oil Falls on Demand Concerns And The End of Holiday Season in US

  

  Oil prices fell on Tuesday, September 8, amid concerns about fuel demand as the summer holiday season in the United States comes to an end, and a long Labor Day weekend has increased fears of an increase in coronavirus cases in more US states. US West Texas Intermediate crude futures …

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• 8 September 2020 12:29 pm

  German Shares Rise And Brexit Tension is Pressing Europe

  

  Stocks listed in Frankfurt rose on Tuesday, September 8th, while the rest of the European markets fell, as data showed that German exports increased in July, dispelling fears that the United Kingdom faces the risk of leaving the European Union without a trade deal. The European Stoxx600 index fell 0.1% …

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• 8 September 2020 11:33 am

  Gold Retreating Due to Strength of Dollar, Eyes on Central Banks

  

  Gold fell on Tuesday, September 8th, due to the rise of the dollar, but the losses were limited by doubts about economic recovery, while investors awaited the strategies of central banks’ policies in North America and Europe. Gold spot fell 0.2% to 1925.38 dollars an ounce by 05:10 GMT. And …

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• 8 September 2020 11:06 am

  Japan’s Economy Contracted For The Third Consecutive Quarter

  

  Japan’s economy contracted during Q2 of this year at a record annual rate of 28.1%, after adjusting from a preliminary figure of 27.8% that was estimated last month. The reading came in line with analysts’ expectations for a 28.4% contraction. This represents the third consecutive quarterly contraction, the largest decline …

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