Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 15 August 2020 12:07 am

  Gold Registers First Weekly Loss in Two Months

  

  Gold prices declined on Friday, marking the end of the worst-performing week for the precious metal since March. An increase in the U.S. Treasury Yields has dominated some of the market’s demand for safe havens, leaving its toll on the yellow metal. After trading as high as 2,072 last week, …

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• 15 August 2020 12:00 am

  European Stocks Ends Week in Losses

  

  Concerns over a second wave of the coronavirus disease (COVID-19) led European stocks to close lower on Friday. The STOXX Europe 600 index fell by 1.17% to end the week at the level of 368.16 points. Meanwhile, FTSE100 dropped by 1.55%, and CAC40 settled lower by 1.58%. DAX fell by …

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• 14 August 2020 11:55 pm

  U.S. Inventories Down in June

  

  Business inventories in the United States declined during the month of June by 1.1% after decreasing by 2.3% in May, according to data by the U.S. Census Bureau of the Department of Commerce Retail inventories decreased by 2.6% in June, while wholesale inventories fell by 1.4%. Due to recent events …

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• 14 August 2020 10:16 pm

  Canada’s Manufacturing Sales Rise 20.7% in June

  

  Manufacturing sales in Canada grew by a record 20.7% to CAD 48.7 billion in June, after rising by 11.6% increase in May, according to data by Statistics Canada. Many factories operated at a much higher capacity in June, with the capacity utilization rate for the total manufacturing sector increasing by …

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• 14 August 2020 10:03 pm

  U.S. Consumer Sentiment Stabilizes in August

  

  The consumer sentiment in the United States remained largely unchanged in early August, according to preliminary data from the University of Michigan. The consumer sentiment index increased by 0.3% compared to its level in July, adding 1% compared to its record low level in April. On an annual basis, the …

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• 14 August 2020 8:57 pm

  U.S. Industrial Production Expands by 3% in July

  

  Industrial production in the United State rose by 3% during the month July, registering its third consecutive monthly increase, data by the U.S. Federal Reserve showed on Friday. However, production remains below its levels prior to the COVID-19 pandemic by around 8.4%

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• 14 August 2020 8:42 pm

  U.S. Nonfarm Productivity Rises 7.2% in Q2

  

  The United States nonfarm business sector labor productivity increased by 7.3% during the second quarter (Q2) of 2020, as shown by the data released by the Bureau of Labor Statistics (BLS) of the U.S. Department of Labor on Friday. However, output decreased by 38.9% and hours worked declined by 43%. …

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• 14 August 2020 5:53 pm

  US Retail Sales Increased Less Than Expected in July

  

  US retail sales increased less than expected in July and may slow further in the coming months due to a spike in new COVID-19 cases and a drop in unemployment benefits. The US Commerce Department said retail sales rose 1.2% last month, down from a 8.4% advance in June. Economists …

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• 14 August 2020 5:17 pm

  Eurozone Trade surplus Rises, GDP And Employment Record a Historic Low

  

  The eurozone’s trade surplus with the rest of the world jumped in June to 21.2 billion euros (about $ 25 billion) as the bloc’s decline in commodity imports outpaced the decline in exports amid a global downturn in trade due to the Covid-19 pandemic. The European statistics office Eurostat said …

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• 14 August 2020 4:21 pm

  European Shares Fell Due to The Decline in Tourism Shares

  

  European stocks fell as tourism stocks took a hit after Britain added more European countries to its list of quarantine areas for arrivals, while disappointing retail sales data from China raised doubts about the pace of the economy’s recovery. The pan-European STOXX 600 index fell 0.8%, but is on track …

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• 14 August 2020 4:06 pm

  Dollar Gaining Support on Coronavirus And Chinese Data

  

  The dollar stabilized as a jump in US Treasury yields and a drop in sentiment due to weak economic data from China put an end to the global reserve currency sell-off. Retail sales in China continued to decline for the seventh month in July unexpectedly, and industrial production missed expectations, …

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• 14 August 2020 4:01 pm

  Germany: Economy Will Grow Strongly in Q3

  

  The Economy Ministry said that Germany’s economy, which has been hit hard by the Coronavirus pandemic, will grow strongly in Q3 but that a full recovery will take a long time. The ministry added in its monthly report that Europe’s largest economy has been recovering since May thanks to easing …

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• 14 August 2020 1:53 pm

  French Government: Paris is a High-Risk Area Again

  

  According to a decree published on Friday, the French government has declared the capital, Paris, and the Bouches-du-Rhone region around Marseille on the Mediterranean coast, “red” areas where the chances of infection with the Coronavirus are high. The decree gives local authorities the power to control the movement of people …

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