Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 16 September 2020 6:34 pm

  US Homebuilder Confidence Surges to All-Time High

  

  Homebuilder confidence in the United States increased to a record high in September, data showed on Wednesday. The NAHB/Wells Fargo Housing Market Index (HMI) went up by five points to a record high of 83 in September. This comes amid historically low mortgage rates due to the COVID-19 pandemic.

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• 16 September 2020 6:31 pm

  US Business Inventories Rise for First Time in 2020

  

  Business inventories in the United States rose in July, for the first time in 2020, data showed on Wednesday. Business inventories increased by 0.1% in July, after decreasing by 1.1% in June, according to the US Department of Commerce. Retail inventories grew by 1.2%, while wholesale inventories fell by 0.3%.

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• 16 September 2020 6:08 pm

  Turkish Lira Hits New Record Low Against US Dollar

  

  The Turkish lira weakened to a record low against the dollar on Wednesday as concerns about the economic outlook continue, while investors await the decision of the Fed. The Turkish currency touched record low 7.5020 and beyond this week, as Moody’s downgrade of Turkey’s credit rating to “B2” from “B1”. …

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• 16 September 2020 5:37 pm

  Canada’s CPI Stays Unchanged at 0.1%

  

  Inflation in Canada, as measured by the Consumer Price Index (CPI), stayed unchanged at 0.1% on a yearly basis in August, the data published by Statistics Canada revealed on Wednesday. This reading came in lower than the market expectation of 0.4%. On a monthly basis, the CPI dropped to -0.1% …

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• 16 September 2020 5:17 pm

  US Retail Sales in August Increase by 0.6%, 1% Expected

  

  Retail Sales in the United States rose by 0.6% on a monthly basis in August to $537.5, the data published by the US Census Bureau revealed on Wednesday. This reading followed July’s increase of 0.9% (revised from 1.2%) and missed the market expectation of 1%.

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• 16 September 2020 4:38 pm

  USD/JPY fell to a 7-week low Near Psychological level 105.00

  

  USD/JPY fell to a 7-week low during the European session with the bears now waiting for some selling below the psychological level of 105.00. The pair had witnessed some heavy selling for the third consecutive session on Wednesday, amid the selling bias around the US dollar. Although the Federal Reserve …

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• 16 September 2020 3:42 pm

  OPEC+ compliance in August seen at 101%

  

  The OPEC and its allies (OPEC+) saw its compliance with oil output cuts policy reach 101% last month, Reuters reports, citing two sources with knowledge of the matter. The sources told Reuters that the compliance figure may be adjusted at the meeting of the committee. The OPEC+ is scheduled to …

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• 16 September 2020 2:23 pm

  Eurozone Trade Surplus Rises Year on Year in July

  

  Data showed that the Eurozone’s unadjusted trade surplus jumped year on year in July, as imports fell further with exports amid an economic slowdown caused by the COVID-19 pandemic. The European Union statistics office Eurostat said that the trade surplus of the 19-country Eurozone countries with the rest of the …

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• 16 September 2020 2:12 pm

  Gold Stable, Eyes on Fed Meeting

  

  Gold prices rose on Wednesday, September 16th, thanks to the dollar’s decline, as investors awaited the outcome of a meeting of the Federal Reserve (US Central Bank) in search of details of the bank’s plans to balance interest rates against its inflation target. Gold rose in the spot market 0.2% …

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• 16 September 2020 1:18 pm

  The Yen Reaches its Highest Level in Two Months

  

  The Japanese yen rose on Wednesday, September 16th, as dealers bet that the Fed’s ultra-easy policy would put pressure on the dollar and elect a new prime minister for the country, while the Chinese yuan extended its gains a day after data indicated better prospects for the world’s second largest …

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• 16 September 2020 12:37 pm

  Oil Rises Ahead of Hurricane Sally, Gloomy Demand Outlooks Hold Back Gains

  

  Brent crude was up 24 cents to 39.85 dollars a barrel, while US West Texas Intermediate crude futures increased 33 cents to $ 37.59. Both contracts were down on Monday. The rally in oil contracts comes just before Hurricane Sally is expected to hit the US coast on the Gulf …

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• 16 September 2020 11:09 am

  W.T.O. Says American Tariffs on China Broke Global Trade Rules

  

  The World Trade Organization has ruled that the additional tariffs imposed by the United States in 2018 on Chinese goods violate international trade rules, in a blow to the Trump administration’s trade war against the world’s second largest economy. A three-person panel of trade experts at the World Trade Organization …

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• 16 September 2020 11:03 am

  API: Sharp Decline in Crude And Gasoline Inventories

  

  American Petroleum Institute data on Tuesday showed a decline in US stocks of crude oil last week, while gasoline inventories rose. Crude inventories declined by 9.5 million barrels over the week ending September 11 to about 494.6 million barrels, while analysts expected an increase of 1.3 million barrels. Crude stocks …

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