Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 17 September 2020 5:04 pm

  Russian Energy Minister Urges OPEC + Members to Fully Adhere to the Production Agreement

  

  Russian Energy Minister Alexander Novak said in an opening speech to an OPEC + committee meeting via the Internet that he urged participants in the group’s oil production cut agreement to fully adhere to the pledged cuts. He also said that the monitoring committee should discuss the impact of the …

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• 17 September 2020 4:34 pm

  UK: Will Ask Parliament to Use Powers in Internal Market Bill if EU Acts in Bad Faith

  

  In a statement published on Thursday, the UK government said that it will ask parliament to use powers in the Internal Market Bill if the European Union engages in a material breach of its duties of good faith or other obligations. “Examples of that would be an insistence that Great …

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• 17 September 2020 3:29 pm

  World Bank Chief Economist Reinhart: The global Economic Recovery May Take 5 years

  

  The chief economist at the World Bank, Carmen Reinhart, said that the global economy’s recovery from the crisis caused by the Corona pandemic may take five years. “There will probably be a quick rebound as all the restriction measures linked to lockdowns are lifted, but full recovery will take as …

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• 17 September 2020 3:24 pm

  Eurozone Consumer Prices Drop in August

  

  The European Union Statistics Office confirmed that consumer prices in Eurozone fell in August, driven by lower energy prices, but core inflation excluding those volatile elements also slowed sharply. The office said that inflation in the 19-nation Eurozone fell 0.4% month over month in August and fell to -0.2% year …

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• 17 September 2020 3:17 pm

  BoE Keeps Interest Rates Unchanged at 0.1%

  

  The Bank of England decided to keep its monetary policy unchanged in interest rates, in line with expectations. The Bank of England’s monetary policy statement on Thursday showed that the bank decided to stabilize interest rates at 0.10%. Analysts had expected that the BOE would hold interest rates at 0.10%.

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• 17 September 2020 2:09 pm

  An OPEC+ Committee Meets today in Light of Declining Oil Prices

  

  OPEC and its allies led by Russia will hold an online meeting today to discuss the extent of commitment to the agreed production cuts and demand trends in light of declining oil prices and the cooling prospects for economic recovery. The committee, which includes major producers including Saudi Arabia and …

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• 17 September 2020 1:58 pm

  European Stocks Drop From Their Highest Level in a Month

  

  European shares fell from a one-month closing high on Thursday after a disappointing response to the US Federal Reserve’s pledge to keep interest rates low for a long time. By 07:10 GMT, the Stoxx600 index was down 1.1% and is on track to end a four-session winning streak. The Fed …

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• 17 September 2020 12:48 pm

  European New Car Sales Fall by 17.6% in August

  

  Data revealed that new car registrations in Europe decreased in July and August, but not at the same level as the previous months, indicating a slow recovery in the European auto sector, which was severely affected by the Corona pandemic. In July, new car registrations dropped by 3.7% year-on-year to …

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• 17 September 2020 12:40 pm

  Gold Falls on Strong US Dollar After Fed Forecast

  

  Gold prices fell Thursday, September 17th, as the dollar rose after the US Federal Reserve painted a positive picture of the economic recovery, but declined to provide concrete indications of further stimulus. By 05:24 GMT, spot gold fell 0.8% to $ 1943.70 an ounce, while US gold futures fell 1% …

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• 17 September 2020 12:35 pm

  Oil is Falling as Demand Concerns Re-Emerge

  

  Oil prices fell Thursday, September 17th, after rising strongly in the previous two sessions as concerns about weak demand re-emerged as producers in the Gulf of Mexico prepare to resume production after Hurricane Sally. Brent crude futures fell 67 cents, or 1.6%, to $ 41.55 a barrel by 06:28 GMT, …

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• 17 September 2020 11:40 am

  Japan Stocks Dropping as Yen Rises on US Headlines

  

  Japanese stocks fell Thursday, September 17th, driven by the decline of export companies after the US Federal Reserve pledged to keep interest rates near zero until at least 2023, pushing the yen to its highest level in seven weeks against the dollar. The Nikkei index fell 0.67% to 23,319.37 points, …

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• 17 September 2020 10:31 am

  New Zealand GDP Beats Estimate

  

  New Zealand’s gross domestic product fell a seasonally adjusted 12.2% in Q2, data showed on Thursday GDP prod based (QoQ) sa (q2): -12.2% (est -12.8%, prev -1.6%). GDP prod based (YoY) sa (q2): -12.4% (est -13.3%, prev -0.2%). Annual average prod-based GDP -2.0% in Q2 vs year ago (Reuters poll …

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• 17 September 2020 10:26 am

  PBOC Sets Yuan Reference Rate at 6.7825

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.7675 on Thursday, having raised the mid-point rate by 397 basis points to 6.7825 on Wednesday.

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