Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 2 July 2020 8:22 pm

  Germany Calls EU Members for COVID-19 Recovery Fund

  

  German Chancellor Angela Merkel said that members of the European Union (EU) must agree on a deal to help fund the recovery of the bloc’s economies from the effects of the coronavirus disease (COVID-19) pandemic. A deal must be reached before the end of summer, Merkel stressed in her remarks …

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• 2 July 2020 7:54 pm

  Brazil’s Industrial Production Posts Record Rise

  

  Industrial production in Brazil increased by 7% during May, recording its biggest rise on record. This comes as economic activity in Brazil resumed after two months of lockdown due to the spread of the coronavirus disease (COVID-19). On an annual basis, industrial production decreased in Brazil by 21.9%.

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• 2 July 2020 7:15 pm

  New US Factory Orders Up 8% in May

  

  New factory orders in the United States increased during May on a monthly basis by 8%, according to data by the US Commerce Department. This shows a sign of recovery, after orders for US-manufactured goods decreased by 13.5% in April, despite coming below the market expectations consensus of an 8.9% …

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• 2 July 2020 6:36 pm

  Trump: US Economy is Roaring Back

  

  The President of the United States, Donald Trump, said that the most recent job data proves that the US economy is roaring back. The US Non-Farm Payrolls (NFP) report, released by the United States Bureau of Labor Statistics, showed an increase of 4.8 million jobs in June, beating market forecasts. …

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• 2 July 2020 6:01 pm

  Canadian Manufacturing PMI Jumps to 47.8 in June

  

  Markit Manufacturing PMI for Canada recovered in june. The Canadian Manufacturing PMI reported a contraction of economic activity recording 47.8 in May, compared to 40.6 in June. “The latest Canada Manufacturing PMI highlights a vastly improved situation in comparison to that seen over the previous three months,” said Tim Moore, Economics …

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• 2 July 2020 5:52 pm

  Unemployment Claims in US at 1.24 M

  

  Data released by the US Department of Labor (DOL) on Thursday reported 1,427,000 initial claims for unemployment benefits in the United States in the week ending June 27, and that reading was slightly worse than the market forecast of 1,355,000. The reaction was mild in the market with the dollar …

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• 2 July 2020 5:10 pm

  US NFP Surges by 4.8 M in June

  

  The US Non-Farm Payrolls report (NFP) released by the United States Bureau of Labor Statistics on Thursday increased by 4,800,800 in June, compared to an increase of 2,699,00 for May. This number is better than the market forecast; the market expected 3,000,000. Other details of the release indicated that the …

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• 2 July 2020 5:00 pm

  US Trade Deficit Widens to $54.6 B in May

  

  Data released by the US Census Bureau and the Office of Economic Analysis said on Thursday that the United States’ international trade deficit widened to $ 54.6 billion in May from $ 49.8 billion in April. That recording was worse than the market expected; the market expected a deficit of …

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• 2 July 2020 4:50 pm

  NFP Thursday: Second Increase is in Sight

  

  Nonfarm Payrolls are expected to record a jump in June due to reopening operations and rehiring during the month. After an increase by 2.5m in May and a significant decrease in April, economists estimate a 4m gain in June. But as coronavirus hits back, the US job growth is likely …

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• 2 July 2020 4:17 pm

  Eurozone Producer Prices Fell by 0.6% in May

  

  The Eurozone producer prices fell by 0.6% in May compared to April, not in line with analysts’ expectations. Analysts had expected Eurozone producer prices to be 0.4% in May. According to estimates from Eurostat, the statistical office of the European Union. In April 2020, prices decreased by 2.0% in the …

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• 2 July 2020 3:38 pm

  USD/CAD Bounces Back After Falling, Remains below 1.3600

  

  The USD/CAD pair fell to 1.3573 during the European session, but then succeeded in making a slight bounce and gained 0.04% at the time of writing, reaching 1.3590 Good market sentiment that was seen in risk appetite and the rise of the leading European indicators, all made it difficult for …

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• 2 July 2020 2:49 pm

  Russian Energy Minister: Oil Market Could Face a Shortage in July

  

  Russia’s Energy Minister Alexander Novak said on Thursday that the global oil market may strike a balance between supply and demand and may face a shortage of crude. Citing Reuters. He added that investments in the global energy sector will decrease by one third this year, noting that recovery in …

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• 2 July 2020 1:59 pm

  Eurozone Unemployment Rate Rises Less Than Expected in May

  

  The Eurozone unemployment rate fell short of economists’ expectations in May, indicating that measures to protect jobs in the Eurozone have paid off. Although the unemployment rate in the Eurozone peaked for four-months high at 7.4%, data from Eurostat reported, economists’ expectations at 7.7%. The unemployment rate in April was …

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