Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 30 July 2020 4:03 am

  Daily Recap: Wednesday, July 29, 2020

  

  Today’s biggest event was the conclusion of the US Federal Reserve two-day meeting, which as expected decided to maintain interest rates near 0% and vowed to maintain the historically low rates until the economy recover from the impact of the COVID-19 crisis. Meanwhile, gold continues to make history with new …

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• 30 July 2020 3:06 am

  US Treasury Yields Mixed Following Fed’s Statement

  

  The US Treasury yields showed mixed movements on Wednesday, following the Federal Reserve’s decision to maintain interest rates near zero, with the monetary policy statement vowing to maintain the current interest range until economic recovery is achieved. The benchmark 10-year Treasury bond yield declined 0.5 basis point (bps) to 0.576%. …

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• 30 July 2020 2:41 am

  Wall Street Settles Higher Following Fed’s Decision

  

  Wall Street closed higher on Wednesday, supported by recent remarks from the US Federal Reserve Chair, Jerome Powell. Powell reiterated the Fed’s commitment to continue supporting the economy until it fully recovers from the repercussions of the COVID-19 crisis. All the major indices at the New York Stock Exchange (NYSE) …

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• 30 July 2020 2:25 am

  Powell: COVID-19 Surge is Slowing Recovery

  

  The Chairman of the US Federal Reserve, Jerome Powell, said on Wednesday that the rise in COVID-19 cases across many states and preventive measures to contain the virus outbreak are affecting the economic recovery. “We have seen some signs in recent weeks that the increase in virus cases and the …

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• 30 July 2020 1:14 am

  Oil Settle Higher on Large US Inventories Draw

  

  Oil prices rose on Wednesday, after data showed a huge decline in US crude inventories last week. The weekly report by the US Energy Information Administration (EIA) showed earlier that crude oil inventories in the US fell by 10.6 million barrels during the week ended July 24. This marked the …

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• 30 July 2020 12:23 am

  Gold Prices Register New Record High

  

  Gold prices continued its rising rally for the ninth consecutive session and closed at yet another new all-time high. The Federal Reserve’s monetary policy statement did not provide any support for the US Dollar, which remains near its lowest level in two years. The Dollar index (DXY) is down by …

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• 29 July 2020 10:35 pm

  FOMC: Economy Path Depends on COVID-19

  

  The United States Federal Reserve announced on Wednesday that the Federal Open Market Committee (FOMC) has decided to maintain the target range for the federal funds rate at 0% to 0.25%. The Board of Governors of the Federal Reserve System voted unanimously to maintain the interest rate paid on required …

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• 29 July 2020 10:08 pm

  Federal Reserve Maintains Interest Rates

  

  The United States Federal Reserve announced on Wednesday that the Federal Open Market Committee (FOMC) has decided to maintain interest rates at a range between 0% and 0.25%.

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• 29 July 2020 9:09 pm

  European Stocks Mixed at Wednesday’s Close

  

  European stocks continued to show mixed performance on Wednesday, as markets anticipate the statement of the US Federal Reserve. The pan-continental STOXX Europe 600 Index rose marginally by 0.022% to 367.76. Similarly, FTSE100 added 0.036%, while CAC40 closed higher by 0.60%. Meanwhile, DAX plunged by 0.10% and IBEX35 fell by …

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• 29 July 2020 8:27 pm

  USD Near Two-Year Low Ahead of Fed Statement

  

  The US Dollar (USD) declined on Wednesday to its lowest level in about two years, as the Federal Reserve is expected to announce later today its monetary policy decision of maintaining interest rates near 0% for the foreseeable future. The Dollar index (DXY), which measures the USD’s performance against a …

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• 29 July 2020 7:25 pm

  US Wholesale Inventories Down 2%

  

  Wholesale inventories in the United States declined by 2% during June, against market expectations of a 0.5% decline. Meanwhile, retail inventories fell by 2.6%, below market estimates of a 2.7% decline.

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• 29 July 2020 7:18 pm

  US Pending Home Sales Up 16.6%

  

  The Pending Home Sales Index in the United States rose by 16.6% to 116.1 in June, according to data released by the National Association of Realtors on Wednesday. Pending home sales also increased by 6.3% on an annual basis.

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• 29 July 2020 5:43 pm

  Trade Deficit Narrows to $70.6B in US

  

  Data released by the US Bureau of Statistics and the Bureau of Economic Analysis on Wednesday showed that the United States’ international trade deficit decreased by $ 4.6 billion to $ 70.6 billion in June. “Exports of goods for June were $ 102.6 billion, $ 12.5 billion more than May …

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