Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 28 September 2020 4:38 pm

  Germany Proposes Rule of Law Conditions For Accessing EU’s COVID Recovery Fund

  

  European Union chair Germany has proposed a rule of law scheme for accessing EU funds in negotiations between member states and the European parliament, Reuters reported on Monday, citing an internal document. Quotes according to Reuters “Rule of law is essential, important to protect the EU’s financial interests, impartial courts.”“Respect for …

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• 28 September 2020 3:38 pm

  PBOC: We Will Maintain Ample Liquidity And Reduce Financing Costs

  

  The People’s Bank of China said it will maintain reasonably ample liquidity and direct funding costs down. The People’s Bank of China said in a statement after a meeting of its monetary policy committee that it would make this policy more flexible and targeted. He went on to say that …

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• 28 September 2020 2:54 pm

  US Dollar Near a Two-Month High Amid Political And Economic Risks

  

  The dollar traded near a two-month high against a basket of currencies on Monday, September 28, while doubts about an economic recovery continued before a batch of economic data and political developments in the United States. The recovery of US stocks on Friday contributed to limiting the rise of the …

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• 28 September 2020 2:10 pm

  Oil is Falling on Uncertainty Surrounding The Recovery of Demand

  

  Oil prices fell on Monday, September 28, as the high number of coronavirus cases dampened hopes for a smooth recovery in fuel demand, while the two major benchmarks are moving towards recording their first monthly decline in several months after falling last week. By 06:52 GMT, Brent crude was down …

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• 28 September 2020 1:21 pm

  Gold Rises as US Dollar Weakens, Eyes on a debate between Trump and Biden

  

  Gold prices rose on Monday, September 28, as the dollar retreated from a two-month high last week as political uncertainty increased ahead of the first presidential debate between US President Donald Trump and his Democratic rival, Joe Biden. Gold rose in the spot market 0.1% to $ 1861.13 an ounce …

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• 28 September 2020 12:48 pm

  Nikkei Ends Higher on Boost From Ex-Dividend Stocks

  

  Japanese stocks closed higher on Monday, September 28, in light of greater demand for stocks whose cash dividends are due to expire this week, but US-Chinese tensions limited the gains. The Nikkei rose 1.32% to 2,3511.62 points, while the broader TOPIX index gained 1.69% to 1,661.93 points. All sub-sector indices …

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• 28 September 2020 12:05 pm

  OPEC: Oil Inventories in Advanced Economies Below an Average of 5 years in Q1 2020

  

  Mohamed Barkindo, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Sunday (September 27th) that oil stocks in the Organization for Economic Cooperation and Development countries in the first quarter of 2021 are expected to remain above their five-year average by a slight margin before falling below …

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• 28 September 2020 11:34 am

  Russian Energy Minister Warns of Covid-19 Risks to Global Oil

  

  Russian Energy Minister Alexander Novak said that the global oil market has stabilized in the past few months and that the balance between supply and demand has been restored, while uncertainties continue, such as the rise in COVID-19 cases. He also said that talks about the possibility of transferring exports …

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• 28 September 2020 10:41 am

  Nikkei is Up 0.81% in Early Trading in Tokyo

  

  The Nikkei index rose in early trading on the Tokyo Stock Exchange on Monday, September 28th. Nikkei rose 0.81% to 23391.96 points, while the broader Topix index rose 0.74% to 1646.28 points.

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• 28 September 2020 10:39 am

  Gold Futures: Further Rangebound Likely

  

  Open interest in Gold futures markets shrunk by nearly 1.6K contracts on Friday, clinching the second drop in a row in light of preliminary figures from CME Group. Volume, in the same line, went down for the second consecutive day, now by almost 127K contracts.

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• 28 September 2020 10:37 am

  PBOC Sets Yuan Reference Rate at 6.8252

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.8252 versus Friday’s fix at 6.8121.

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• 26 September 2020 1:36 am

  Wall Street Ends Week Mixed

  

  The New York Stock Exchange (NYSE) closed higher on Friday, despite uncertainties about the rising number of COVID-19 cases and concerns regarding a second wave of the pandemic. The Dow Jones Industrial Average rose by 358.5 points, or 1.34%, and closed at 27,173.96 points, but declined by 1.8% for the …

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• 26 September 2020 12:06 am

  Oil Prices Post Weekly Losses

  

  Oil prices declined on Friday, amid concerns about the rising number of COVID-19 cases spurring a negative outlook the global demand recovery. The decline also comes after data showed an increase in active oil rigs in the United States. Brent futures for November delivery closed lower by 2 cents, or …

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