Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 30 July 2020 4:51 pm

  Euro Mixed Following German GDP Data

  

  The Euro is showing a mixed performance against major currencies on Wednesday, following data showed the German economy’s biggest contraction on record and an improvement in the Eurozone economic sentiment. Although the EUR is maintaining some gains against commodity currencies, it is declining across the board. EUR is down to …

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• 30 July 2020 3:08 pm

  USD Tries to Recover Some Ground

  

  The US Dollar (USD) is recovering on Thursday from some of its recent losses, which brought the greenback to its lowest level in nearly two years. The USD is trying to gain some support from the recent remarks by the US Federal Reserve that reiterated the commitment to support the …

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• 30 July 2020 2:26 pm

  German GDP Contracts by 10% in Q2

  

  Germany’s gross domestic product (GDP) recorded its worst decline on record during the second quarter (Q2) of 2020, contracting by 10.1%, as shown by preliminary official data. Moreover, the German economy contracted by 11.7% on annual basis during Q2 of 2020. The COVID-19 crisis has negatively impacted Germany and much …

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• 30 July 2020 2:13 pm

  Eurozone Economic Sentiment Improves in July

  

  Economic sentiment in the Eurozone rose more than expected in July to 82.3 points from a revised reading of 75.8 in June, according to data by the European Commission. The improvement comes amid the easing of lockdowns and preventive measures against the coronavirus disease (COVID-19). The industry sentiment recorded -16.2 …

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• 30 July 2020 2:00 pm

  German GDP Shrinks at Record Rate in Q2

  

  The German economy contracted in the second quarter of 2020 by 10.1% vs. -9.0% expected, it’s the biggest decline on record, as shown by preliminary data on Thursday. On a yearly basis, the German gross domestic product (GDP) contracted 11.7% vs. -10.9% decline expected by analysts, according to the German …

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• 30 July 2020 1:32 pm

  Germany’s Unemployment Rate Declined in July

  

  The seasonally adjusted unemployment rate in Germany came in at 6.4% in July vs. 6.5% expected. The figure is better than expected by analysts. Data released earlier beat expectations with the unemployment change falling by 18k in seasonally adjusted terms compared to estimates of an increase of 43k. The adjusted …

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• 30 July 2020 1:06 pm

  EUR/GBP Keeps The Red Near Session Lows

  

  The Euro weakened slightly during the early European session and pushed EUR/GBP to daily lows near the middle of 0.9000 after the German GDP figures. After a short consolidation during the first part of Thursday’s trading, the pair faced some new offers and fell near its lowest levels in a …

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• 30 July 2020 12:26 pm

  Democrats Don’t Agree on All Relief Bill Aspects

  

  U.S. president Donald Trump said on Wednesday that his administration and Democrats in Congress were far apart in their efforts to agree on a coronavirus relief bill, as reported by Reuters. And according to Reuters, Trump accused Democrats of not taking care of Americans with their proposals, and said when …

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• 30 July 2020 12:20 pm

  US 10-year Yield Posting Record Low

  

  The yield on 10-year (inflation-adjusted) US Treasury bonds fell to a new low of -0.95% on Wednesday after the Federal Reserve reiterated its interest-rate keep plan to its lowest levels in the foreseeable future. Jerome Powell, Chairman of the Federal Reserve, said that monetary policy will remain accommodative until the …

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• 30 July 2020 12:13 pm

  China to Support Export Businesses

  

  China plans to boost exports by providing trade-oriented companies with capital and market support, Citing the weekly State Council meeting held Wednesday, the People’s Daily reported this Thursday. Initiatives aim to attract foreign investment through a strengthened political environment and the expansion of the services trade sector. The government stressed …

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• 30 July 2020 12:04 pm

  FX Option Expiries For July 30 NY Cut

  

  FX option expiries for July 30 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – USD/JPY: USD amounts          105.00 712m105.55 524m 105.75 500m 106.00 1.9bn

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• 30 July 2020 12:02 pm

  Austrian Economy Shrank by 10.7% in Q2

  

  Wifo said on Thursday that the Austrian economy shrank by 10.7% in the second quarter, marking the largest contraction since World War II as the Corona pandemic hit domestic and foreign demand. Wifo, which is complies data for the government, said that the hardest hit sectors are retail, hotels, restaurants, …

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• 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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