Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 12 August 2020 4:31 pm

  Russian Economy Contracted at Worst Pace in Nearly 10 Years

  

  Preliminary data showed that the Russian economy contracted by 8.5% on an annual basis in the second quarter of the year, with the country affected by the repercussions of the Coronavirus pandemic and the associated general isolation measures as well as the decline in oil prices, which is Russia’s main …

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• 12 August 2020 3:34 pm

  A Disappointing Recovery in Eurozone Industrial Production in June

  

  Official data showed an increase in industrial production for the euro area in June, but the recovery that came after record declines in March and April caused by the Coronavirus pandemic was below expectations for the second month in a row and slower than May. The increase in industrial production …

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• 12 August 2020 2:32 pm

  Communications lifted European shares after Sunrise

  

  Telecom stocks boosted European stocks on Wednesday (August 12th) after Liberty Global’s bid to take over Sunrise Communications, while Britain’s FTSE100 index gained on bets on domestic stimulus. The European Stoxx600 index rose 0.2%, gaining for a fourth consecutive session. Sunrise Communications jumped 26.8% after Liberty Global inaugurated a bid …

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• 12 August 2020 1:44 pm

  Oil is Rising After a Bigger-Than-Expected decline Oil Inventories

  

  Oil prices rose on Wednesday, August 12, after a report from the sector showed that US crude stocks fell by more than analysts’ expectations, boosting hopes that demand for fuel in the world’s largest economy can survive the Coronavirus pandemic. Brent crude rose 52 cents, or 1.2%, to $ 45.02 …

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• 12 August 2020 1:30 pm

  Germany: Russian Vaccine Has Not Been Tested Adequately

  

  German Health Minister Jens Spahn said today, Wednesday, that the Russian vaccine for Covid-19 disease has not been adequately tested, adding that the goal is to create a safe product and not just for a country to be the first to provide a vaccine for people. President Vladimir Putin announced …

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• 12 August 2020 11:23 am

  UK Manufacturing Production Rebounds in June

  The Office for National Statistics (ONS) published the UK industrial and manufacturing production data on Wednesday, as the overall industrial sector returned to expansion in June. Manufacturing output arrived at 11.0% MoM in June versus 10.0% expectations and 8.4% booked in June, while total industrial output came in at 9.3% …

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• 12 August 2020 11:16 am

  UK’s Sunak: Economy is now in Hard Times.

  

  Following the release of the key UK macro data on Wednesday, the British Finance Minister/ Chancellor Rishi Sunak said that the UK economy is now in ‘hard times’, the figures today confirm that. “There will be many more job losses in the coming months.”“Hundreds of thousands of people have already …

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• 12 August 2020 11:12 am

  FX Option Expiries for AUG 12 NY Cut

  

  FX option expiries for Aug 12 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – USD/JPY: USD amounts          105.75 365m106.00 620m – NZD/USD: NZD amounts 0.6525 1.0bn0.6600 285m

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• 12 August 2020 2:45 am

  Daily Recap: Tuesday, August 11, 2020

  

  After a continuous upward trend that saw it achieve new unprecedented levels, gold prices were always going to see a correction wave, as stock markets flourished amid an improved risk appetite. Meanwhile, oil prices fell on rising concerns about the COVID-19 pandemic and its effect on the demand recovery, despite …

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• 12 August 2020 2:33 am

  NYSE Indices Mixed at Tuesday’s Close

  

  The New York Stock Exchange (NYSE) indices settled mostly lower on Tuesday, as Wall Street investors reacted negatively to the U.S. Congress failing to reach a deal on the new economic stimulus package with many differences between Democrats and Republicans. The Dow Jones Industrial Average closed down by 0..38%, while …

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• 12 August 2020 2:26 am

  U.S. to Purchase 100 M Doses of Moderna Vaccine

  

  President of the United States, Donald Trump, announced on Tuesday that the U.S. government has reached an agreement to purchase 100 million doses of Moderna’s COVID-19 vaccine. Moderna has been working on a vaccine for sometime now and has received huge funds from the U.S. government for its research. The …

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• 12 August 2020 2:23 am

  Biden Picks Kamala Harris for VP Slot on Democratic Ticket

  

  Former Vice President of the United States and the Democratic Party’s Candidate for the 2020 U.S. Presidential Elections, Joe Biden, announced that he has chosen Senator Kamala Harris as his running mate. Harris, the first Black woman to be nominated for the Vice President position by a major political party …

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• 12 August 2020 2:12 am

  API: U.S. Crude Oil Inventories Down 4.4 M Barrels in Week

  

  The United States crude oil inventories decreased by 4.4 million barrels last week, according to data by the American Petroleum Institute (API) released on Tuesday. The U.S. crude stockpiles now stand at around 516 million barrels. Meanwhile, gasoline inventories fell by 1.3 million barrels, while distillate stockpiles declined by 2.9 …

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