Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 19 August 2020 10:51 am

  UK Annualized CPI Beats Estimates

  

  The UK Consumer Prices Index (CPI) 12-month rate came in at +1.0% in July compared to +0.6% in June while beating expectations of a +0.6%, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) came at +1.8% YoY …

  Read More »
• 19 August 2020 2:11 am

  Daily Recap: Tuesday, August 18, 2020

  

  It was another weak day for the U.S. Dollar due to selling pressures and a decline in the Treasury Yields, but Wall Street was soaring with tech stocks making big gains and leading the S&P 500 index to finally close at a new record level, recovering all of its losses …

  Read More »
• 19 August 2020 1:56 am

  S&P 500 Closes at New All-Time High

  

  The New York Stock Exchange (NYSE) closed Wednesday mixed as indices varied on their performance, with the Nasdaq and S&P closing at record highs and the Dow maintaining the downward trend. The S&P 500 index gained 0.2% and closed at 3,389.78, its highest evet closing level. Earlier in the session, …

  Read More »
• 19 August 2020 1:50 am

  Oil Prices Settle Higher and Await OPEC+ Summit

  

  Oil prices showed a mixed performance on Tuesday, with the market anticipating the results of the OPEC+ summit, as well as the United States crude inventories data. Brent crude futures for October delivery added 0.2% and settled at $45.56 per barrel, while the West Texas Intermediate (WTI) futures for September …

  Read More »
• 19 August 2020 1:16 am

  Trudeau Appoints His Deputy as Finance Minister

  

  The Canadian Prime Minister, Justin Trudeau, has appointed on Tuesday the Deputy PM, Chrystia Freeland, as Canada’s new Minister of Finance. This comes after the resignation of Bill Morneau from the post on Monday, reportedly due to disagreements with the Prime Minister. Freeland was Canada’s lead negotiator in talks for …

  Read More »
• 19 August 2020 12:30 am

  GBP Maintains Gains amid USD Weakness

  

  The British Pound (GBP) rose against the U.S. Dollar (USD) on Tuesday, supported by the decline of the latter, amid anticipation for the progress of trade talks between the United Kingdom (UK) and the European Union (EU). The GBP/USD is trading at 1.3242, up by 1.07% for the day, after …

  Read More »
• 18 August 2020 11:59 pm

  Gold Prices Restore $2,000 per Ounce Level

  

  Gold prices closed higher on Tuesday, maintaining its rising trend amid a decline by the U.S. Dollar. Gold futures for December delivery settled higher by $14.40 or 0.7% at $2,012.10 per ounce, restoring the $2,000 level. This comes after the yellow metal opened the week with its best daily gains …

  Read More »
• 18 August 2020 8:48 pm

  European Stocks Finish Lower

  

  European stocks closed lower on Tuesday, after rising earlier in the session, mainly due to losses by banks and energy shares. The Stoxx Europe 600 index settled lower by 0.66% or 2.45 points at 366.81. Meanwhile, FTSE100 lost 0.83%, while CAC40 finished lower by 0.68%. DAX closed lower by 0.30%, …

  Read More »
• 18 August 2020 8:13 pm

  NZD Rises Following GDT Price Declines

  

  The New Zealand Global Dairy Trade (GDT) price index declined by 1.7% on Tuesday. Meanwhile, the Whole Milk Powder price index decreased by 2.2%. The New Zealand Dollar (NZD) extended its gains against the U.S. Dollar (USD) following the data, with the Kiwi now up by 0.49% against the USD …

  Read More »
• 18 August 2020 7:43 pm

  USD Declines to More than Two-Year Low

  

  The U.S. Dollar (USD) is maintaining its downward trend on Monday, despite an increase in housing starts. Recent data suggests that the real estate sector in the United States is recovering amid a decline in interest rates. The Dollar index (DXY), which measures the USD performance against a basket of …

  Read More »
• 18 August 2020 7:31 pm

  AUD/USD Rises Following RBA Meeting Minutes

  

  The Australian Dollar (AUD) is showing a strong performance, following the release of the latest Reserve Bank of Australia (RBA) meeting minutes. During the meeting, RBA board members noted that the COVID-19 downturn had not been as severe as earlier expected and a recovery was under way in most of …

  Read More »
• 18 August 2020 7:21 pm

  U.S. Housing Starts Rise More than Expected

  

  Home construction starts in the United States grew in July, data showed on Tuesday. Residential unit starts increased by 22.6% to 1.5 million. Meanwhile, building applications rose by 18.8%.

  Read More »
• 18 August 2020 5:50 pm

  Canada Finance Minister Resigns Amid Friction With Trudeau

  

  Canadian Finance Minister Bill Morneau announced his resignation saying in a press conference that Canada is moving to the next stage of the struggle against the Coronavirus pandemic, and this currency may take many years in order to achieve economic recovery, and it is the right time now for a …

  Read More »