Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 23 July 2020 12:37 am

  Daily Recap: Wednesday, July 22, 2020

  

  Demand on safe havens increased on Wednesday, with rising tensions between the United States and China escalating to the closure of the Chinese consulate in Houston, which left a toll on the USD. Meanwhile, gold and silver maintained their record-breaking rallies, while oil prices were affected by a rise in …

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• 23 July 2020 12:27 am

  NYSE Indices Close in Green

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, despite worries about the tensions between the United States and China. The Dow Jones Industrial Average DJIA gained 165 points, or 0.6%, to settle at 27,006, its best level in nearly six weeks. The S&P 500 index settled by 0.6% …

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• 23 July 2020 12:16 am

  Oil Settles Marginally Lower

  

  Oil prices settled slightly lower on Wednesday after data showed a surprise buildup in US crude inventories, coupled with concerns regarding the increased number of COVID-19 cases. US benchmark crude, the West Texas Intermediate (WTI), futures for September settled lower by 0.05% at $41.90 per barrel, recovering most of its …

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• 23 July 2020 12:08 am

  Brazil Expects Increased Budget Deficit

  

  The Brazilian government has revised its primary budget deficit forecast for 2020 to BRL 787.4 billion ($154 billion) from a previous BRL 540.5 billion, Reuters reported. Public revenues are expected to steady at BRL 1.2 trillion. Meanwhile, primary spending is forecast to increase by BRL 229.3 billion to BRL 1.98 …

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• 22 July 2020 11:56 pm

  CAD Gains After Inflation Data

  

  The Canadian Dollar (CAD) showed a strong performance on Wednesday, making the best use of its US rival weakness. Earlier today, data by Statistics Canada showed that the Canadian annual consumer price index (CPI) rose more than expected in June. The CPI rose by 0.7% year-on-year in June, compared with …

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• 22 July 2020 11:25 pm

  EUR/USD Maintains Some Momentum

  

  The Euro rose on Wednesday to its highest level since October 2018 against the US Dollar, maintaining the momentum it gathered from the European Union’s agreement on a COVID-19 recovery fund, especially as demand for safe havens increased. After rising by 0.5% earlier, the EUR/USD is currently trading at 1.15696, …

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• 22 July 2020 10:54 pm

  Gold Settles at Highest Level Since 2011

  

  Gold prices surged on Wednesday, for the fourth session in a row, supported by increased demand for safe havens amidst rising tensions between the United States and China. The yellow metal August futures settled higher by $21.2, or 1.2%, at $1,865.10 per ounce. Similarly, silver prices rallied by 7.4% to …

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• 22 July 2020 8:29 pm

  European Stocks Close Lower on COVID-19 Worries

  

  European stocks declined on Wednesday, with the positive impact from the European Union’s recovery deal appearing to fade out in the face of the rising number of COVID-19 cases, despite the US signing a huge deal for obtaining a newly-developed vaccine. The pan-European Stoxx 600 index settled lower by 0.89%, …

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• 22 July 2020 8:15 pm

  Reshetnikov: Russia’s GDP Declines by 4.2% in H1

  

  The Russian gross domestic product (GDP) declined by 4.2% in the first half (H1) of 2020, according to Russia’s Minister of Economy, Maxim Reshetnikov. The ministry reportedly expects the economy to retreat by 4.8% in 2020 and expects the recovery to the pre-COVID-19 levels to take place by the fourth …

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• 22 July 2020 8:05 pm

  US Oil Stocks Rise and Prices React with 1.3% Decline

  

  Crude oil inventories in the United States increased by 4.9 million barrels during the week ending July 17, according to data by the US Energy Information Administration (EIA) on Wednesday. A decline between 575,000 and 1.9 million barrels was expected by market experts and surveys. On Tuesday, data by the …

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• 22 July 2020 7:18 pm

  US Home Sales Post New Record Increase

  

  Home sales in the United States registered its highest rise on record last month, due to historically low mortgage rates, according to data by the National Association of Realtors, Reuters reported. Existing home sales in the US increased by 20.7% on a monthly basis to a seasonally adjusted annual rate …

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• 22 July 2020 6:06 pm

  ECB Lagard: EU’s Fiscal Package Could’ve Been Better, But Reasonable

  

  On Tuesday, the EU member states approved a 750 billion euro recovery fund which included 360 billion euros in loans and 390 billion euros in grants. The money will be raised collectively by selling bonds. European Central Bank (ECB) President Christine Lagarde talks on Wednesday, she said that the fact …

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• 22 July 2020 5:39 pm

  Canada: Annual CPI in June Climbs to 0.7%

  

  Canada’s annual consumer price index rose more than expected in June as data released by Statistics Canada on Wednesday showed that Canada’s inflation, measured by the CPI, rose 0.7% year-on-year in June, above market expectations of 0.2% monthly basis. The consumer price index reached 0.8%. The USD/CAD pair remains in …

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