Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 7 September 2020 12:45 pm

  Nikkei Index Drops After Nasdaq Turmoil

  

  The Japanese Nikkei Index fell on Monday, September 7th, after Wall Street fell, while SoftBank Group shares tumbled on reports that it had made big bets on US technology stocks as the sector’s rally dissipated. The Nikkei index fell by 0.5% to close at 2,3089.95 points, while the broader TOPIX …

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• 7 September 2020 11:10 am

  China Says August Exports Beat Expectations, Jumping 9.5%

  

  Data from the General Administration of Customs in China showed that Chinese exports denominated in dollars exceeded expectations, rising by 9.5% for August compared to last year. Meanwhile, China’s dollar-denominated imports in August were down 2.1% from a year ago. Economists polled by Reuters had expected exports to rise by …

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• 7 September 2020 10:23 am

  German Industrial Production Rises 1.2% MoM

  

  Industrial Production in Germany rose less-than-expected in July, the official data showed on Monday, suggesting that the recovery in the manufacturing sector probably lost steam. The industrial output came in at +1.2% MoM, the federal statistics authority Destatis said in figures adjusted for seasonal and calendar effects, vs. a 4.8% …

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• 5 September 2020 12:27 am

  Wall Street Ends Week in Losses

  

  The New York Stock Exchange (NYSE) finished the week with large losses on Friday’s session, with tech stocks leading the decline and the market seeing strong selling pressures. The Dow Jones Industrial Average declined by 159.42 points or 0.56%, closing at 28,133.31 points, down by 1.8% for the week. The …

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• 5 September 2020 12:21 am

  Oil Prices Down 7% in Week on Stronger USD

  

  Oil prices closed lower on Friday, amid mixed expectations for demand recovery, and a rise for the USD, which decline was seen a support factor for crude prices. Brent crude futures for November delivery settled lower by $1.41, or 3.2%, at $42.66 per barrel, raising its weekly decline to 6.9%. …

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• 5 September 2020 12:11 am

  US Fed Corrects its Stress Test Results

  

  The United States Federal Reserve issued on Friday a corrected version of its recent stress test results, which were initially published in June 2020. According to the new recalculated results, Goldman Sachs and Morgan Stanley will see lower capital requirements, Reuters reported, as the errors led to miscalculated assumed losses …

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• 5 September 2020 12:07 am

  Gold Settles Lower with 2.1% Weekly Loss

  

  Gold prices declined on Friday for the third consecutive day, turning to weekly losses. Gold futures for December delivery closed lower by $3.50, or 0.2%, at $1,934.30 per ounce. This is the lowest closing level for the yellow metal futures since August 27, logging a 2.1% weekly decrease. Meanwhile, silver …

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• 4 September 2020 9:45 pm

  UK Economy May Need Extra Stimulus

  

  The British economy may need extra stimulus in order to face the effects of the COVID-19 crisis, said member of the Bank of England’s (BoE) Monetary Policy Committee, Michael Saunders, Reuters reported. “I consider it quite likely that additional monetary easing will be appropriate in order to achieve a sustained …

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• 4 September 2020 9:28 pm

  European Stocks Post 1.9% Weekly Decline

  

  European stocks closed lower on Friday, erasing earlier gains and turning to losses for the week, due to huge losses by tech stocks in Wall Street. The pan-European Stoxx 600 index finished lower by 1.1%, registering weekly losses of 1.9%. The UK’s FTSE100 lost 0.88% for the day and recorded …

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• 4 September 2020 9:19 pm

  Congress to Approve Federal Government Funding

  

  The Trump administration has reached an agreement with the US Congress to provide funding for the federal government after the end of the month, avoiding a government shutdown, Vice President Mike Pence reportedly told CNBC on Friday. “The agreement reached this week by the Treasury secretary and our negotiation team …

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• 4 September 2020 6:57 pm

  French Economy Could Do Better than Expected

  

  The French Minister of Finance, Bruno Le Maire, said on Friday that he expects France’s economy to perform better than initially expected. “I think we will do better in 2020 than the 11% recession forecast at the moment,” said the French minister in a TV interview as cited by Reuters. …

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• 4 September 2020 6:40 pm

  USD Rises on Positive Employment Data

  

  A better than expected decline in the unemployment rate in the United States and a higher than expected labor force participation rate are providing a much needed support for the US Dollar (USD) to maintain its recent rising trend on Friday. The Dollar index (DXY), which measures the performance of …

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• 4 September 2020 6:10 pm

  S& P 500 Open Higher as Unemployment Fell More Than Expected

  

  The S&P 500 Index rose shortly after the open, following sharp sales in the last session as data showed that the unemployment rate in the United States fell more-than-expected in August. The S&P 500 Index opened down 1.46 points, or 0.04%, to 3,453.60 points, while the Dow Jones Industrial Average …

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