Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 31 August 2020 10:55 pm

  SF Fed: Wages Growth Not Reflecting Job Market Strength

  

  A rise in wages across the United States does not necessarily reflect the job market strength, according to new research by the Federal Reserve Bank of San Francisco. An economic letter titled “The Illusion of Wage Growth” noted that despite a sharp spike in unemployment since March 2020, aggregate wage …

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• 31 August 2020 10:27 pm

  European Stocks Close Lower and Log Monthly Gains

  

  European stocks closed lower on Monday but was able to able record monthly gains during August, supported by an improved investors’ sentiment on positive news about COVID-19 vaccine and treatments. STOXX Europe 600 closed down by 0.62% at 366.51, up by 2.8% for the August. The UK’s FTSE100 lost 0.61%, …

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• 31 August 2020 8:33 pm

  Clarida: Fed Could Apply Treasury Yield Caps

  

  The United States Federal Reserve Vice Chairman, Richard Clarida, said on Monday that there is a possibility of employing Treasury yield caps in the future, Bloomberg reported. “Yield caps and targets were not warranted in the current environment but should remain an option that the committee could reassess in the …

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• 31 August 2020 7:44 pm

  USD Maintains Losses for Fourth Month in Row

  

  The US Dollar (USD) is close to ending August as its fourth consecutive month of losses, marking its worst performance in August in five years. Consecutive losses are taking the USD to levels not seen in 2018, according to a recent report by Reuters. The Dollar Index (DXY), which measures …

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• 31 August 2020 6:14 pm

  S&P 500 Reaches a Record High For The Sixth Session

  

  The S&P 500 index hit a record high on Monday for the sixth straight session and on the path of achieving its best performance in August in decades, as bets were placed on the economic recovery with the Fed’s continued support the index. The S&P 500 index opened up 0.05%, …

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• 31 August 2020 5:47 pm

  Wall Street Set to Open Higher

  

  US stocks should open slightly higher on Monday, as markets are on track to achieve their best August in more than 30 years. At 11:15 AM GMT, S&P 500 was up 8 points, or 0.2%, while the Dow Jones futures rose 47 points or 0.1%, And Nasdaq 100 futures gained …

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• 31 August 2020 5:34 pm

  VAT Cut Pushes German Inflation Into Negative Territory

  

  Annual consumer prices in Germany fell for the first time in more than four years in August due to a VAT cut as part of a government stimulus package to help Europe’s largest economy recover from the shock of the coronavirus pandemic, data revealed. The Federal Statistics Office said that …

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• 31 August 2020 5:28 pm

  Turkey’s Trade Deficit Declined 18.2% YoY in July

  

  Data from the Turkish Statistics Institute showed that the country’s foreign trade deficit decreased by 18.2% year on year in July to $ 2.697 billion, according to the general trade system. The institute said that Turkey’s exports decreased by 5.8% and imports decreased by 7.9% compared to July 2019, reflecting …

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• 31 August 2020 4:39 pm

  Australia: Retail Sales Better Than Expected

  

  Data released by the Australian Bureau of Statistics this morning showed that the retail sales index posted better-than-market expectations, rising by 4.1% in July compared to 3.3 in June. This indicator is a measure of consumer spending, which represents the majority of economic activity in general and affects the stock …

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• 31 August 2020 3:40 pm

  Turkey’s Economy Contracted by 10% in Q2

  

  Data showed that Turkey’s economy shrank 9.9% in Q2 of the year, as the general lockdown due to the Coronavirus pandemic caused an almost complete halt of economic activities, representing the worst performance on an annual basis in ten years. According to the Turkish Statistical Institute, the decline in GDP, …

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• 31 August 2020 2:29 pm

  Dollar Drifts Toward Worst Aug in 5 Years

  

  The dollar is heading to record a loss for the fourth consecutive month after a shift in the US Federal Reserve’s policy on inflation, while the euro is poised to record a fourth month of gains, which puts the two currencies at levels not seen since 2018. Investors are adapting …

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• 31 August 2020 1:23 pm

  Gold Falling as US Dollar Decline Stops

  

  Gold reversed its trend to decline on Monday, August 31, as the dollar recovered some of its losses, despite the US Federal Reserve’s new policy framework, which indicates that interest rates will remain near zero for a longer time, has limited the losses of the yellow metal, which is considered …

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• 31 August 2020 12:50 pm

  European Shares Open Stronger on Oil Gains

  

  European stocks opened higher on Monday, August 31, as heavyweight oil and gas companies were supported by higher crude prices, while positive service sector data from China boosted optimism about an economic recovery. The Stoxx600 index of European shares rose 0.4% in early trading, consolidating the small gains made last …

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