Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 18 August 2020 12:05 am

  DXY Keeps the Downward Trend

  

  The U.S. Dollar (USD) is maintaining its losses on Monday, as the Dollar index (DXY), which measures the performance of the USD against a basket of six major currencies, is close to finishing down by 0.30% at 92.81. The USD biggest losses are against the Australian Dollar (AUD) with 0.55%, …

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• 17 August 2020 10:17 pm

  Gold Re-Approaches $2,000 Level

  

  Gold prices increased on Monday, maintaining its renewed upward trend with the highest daily rise since April 22, supported by the rising demand on safe havens. Gold futures for December delivery closed higher by $48.90 or 2.5% at $1.998.70 per ounce. A mostly-negative performance by the U.S. Dollar helped the …

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• 17 August 2020 9:16 pm

  Bitcoin at Highest Level in 11 Months

  

  Bitcoin surged on Monday to its highest level in more than a year, expanding its 2020 gains since the beginning of the COVID-19 crisis. The cryptocurrency increased by more than 4% to $12,424, its highest level since July 2019. Year-to-date (YTD), the price of the digital currency has increased by …

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• 17 August 2020 8:50 pm

  European Stocks Finish Higher

  

  European stocks finished higher on Monday after fluctuating throughout the first session of the week, due to rising political tensions and concerns regarding the COVID-19 pandemic. The Stoxx Europe 600 index added 0.41% or 1.5 points to settle at 369.57. In the UK, the FTSE100 index closed higher by 0.61%, …

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• 17 August 2020 8:10 pm

  U.S. Homebuilder Confidence Matches All-Time High

  

  Homebuilder confidence in the United States increased in August, for the third consecutive month, matching its record high, data showed on Monday. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) increased by 6 points to 78, exceeding market expectations and matching its all-time high, which was recorded …

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• 17 August 2020 5:55 pm

  NY Empire State Manufacturing Index at 3.7 in August vs 15.0 expected

  

  The US NY Empire State Manufacturing Index fell more than expected in August. It came at 3.7, declined from 17.2 in July and fell short of 15.0 expected. New orders -1.7 vs +13.9 last month, little changed. Employment jumped higher to +2.4 vs +0.4 last month. Shipments +6.7 vs +18.5 …

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• 17 August 2020 5:23 pm

  China: Will Not Resort to Flood-Like Stimulus

  

  The Chinese state media reported on Monday, citing a statement from China’s cabinet saying that China will not resort to flood-like stimulus, adding that they will keep liquidity reasonably ample. This comes after the PBOC injected liquidity into the system, offering 700bn yuan in a medium term lending facility earlier …

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• 17 August 2020 4:37 pm

  US Ross: China Has Been Buying Large Amounts of Agricultural Products

  

  US Commerce Secretary Wilbur Ross told Fox Business Network on Monday that China has been buying large amounts of US agricultural products. Other comments: “China-US trade talks continue at various levels.” “The US is eager for China to continue buying American farm products.” “Trump is looking to close loopholes to …

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• 17 August 2020 3:56 pm

  OPEC+ JMMC Meeting to Review Easing Output Curbs

  

  OPEC+ is meeting on 19 August to assess its supply deal as the world struggles to control the coronavirus spread that has a damaging effect on economies and fuel demand globally. The Joint Ministerial Monitoring Committee (JMMC) will gather on Wednesday to assess the compliance issue of the organization and …

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• 17 August 2020 3:53 pm

  Japan’s Economy is Contracting at a Record Pace

  

  Japan recorded its largest economic contraction in Q2 as the coronavirus pandemic crushed business and consumer spending, putting policymakers under pressure to take bolder action to prevent a deepening recession. Although the economy began to emerge from recession after easing the lockdown in late May, many analysts expect any rebound …

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• 17 August 2020 2:50 pm

  German Central Bank: German Economy on Track For Rapid Growth During Summer

  

  Germany’s central bank said on Monday that the German economy is poised for a rapid and broad recovery after an unprecedented contraction in peacetime in the spring, but a coronavirus vaccine may be necessary before a full recovery is possible, according to Reuters. “The clear and widespread recovery in macroeconomic …

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• 17 August 2020 1:59 pm

  PBOC Sets Yuan Reference Rate at 6.9362

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.9362 versus Friday’s fix at 6.9405

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• 17 August 2020 1:31 pm

  PBOC Injects CNY700 B Through One-Year MLF at 2.95%

  

  The People’s Bank of China (PBOC) injected CNY700 billion via one-year medium-term lending (MLF) facility on Monday. The Chinese central bank issued the one-year MLF at 2.95%, unchanged from the previous operation. The PBOC kept the rates unchanged for the fourth straight month. USD/CNY is under pressure, looking to extend …

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