Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 28 August 2020 8:57 pm

  Germany to Revise Growth Forecast

  

  The German government is revising its economic growth forecast for 2020, expecting Germany’s gross domestic product (GDP) to contract by less than 6%, compared with previous estimates of a 6.3% contract, Reuters Reported. Europe’s largest economy contracted by 9.7% in the second quarter of 2020, due to the coronavirus (COVID-19) …

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• 28 August 2020 6:49 pm

  Consumer Sentiment Improves in August

  

  The University of Michigan’s Index of Consumer Sentiment improved in August to a reading of 74.1, up from 72.5 in July. The 2.2% monthly increase is accompanied by a 17.5% yearly decline, as the index remains way below its level in August 2019 at 89.8. The Current Economic Conditions index …

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• 28 August 2020 6:31 pm

  Chicago Business Barometer Declines in August

  

  The Chicago Business Barometer declined to 51.2 in August, registering its second consecutive reading above the 50-mark, according to data by the Institute for Supply Management (ISM) – Chicago. Among the five main indicators, order backlogs was the only category to show a monthly decline, with supplier deliveries recorded the …

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• 28 August 2020 5:54 pm

  Canadian Economy Contracts by 38.7% in Q2

  

  Data published by Statistics Canada revealed on Friday that Real Gross Domestic Product (GDP) in Canada declined by 38.7% on a yearly basis in Q2. This reading followed the 8.2% contraction recorded in Q1 but came in slightly better than the market expectation of -39.6%.

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• 28 August 2020 5:50 pm

  Oil Falling as US Refiners Avoid Worst Phase of Laura

  

  Oil prices plummeted, as Storm Laura bypassed the heart of the US oil industry in Louisiana and Texas without causing wide losses to refineries. Brent crude futures for October delivery, which are due on Friday, fell seven cents to $ 44.99 a barrel before the opening of Wall Street. US …

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• 28 August 2020 5:21 pm

  The German Economy Minister Does Not Expect Isolation Measures Again

  

  German Economy Minister Peter Altmaier told SWR television that he does not expect the country’s economy to suffer from further lockdown measures even if coronavirus infections continue to rise. The minister also told television that many industries in Germany are improving again.

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• 28 August 2020 5:03 pm

  US Consumer Spending Exceeds Expectations in July

  

  US consumer spending increased more than expected in July, bolstering expectations of strong economic growth recovery in Q3, although the momentum will likely subside as the Covid-19 pandemic continues and the impact of the fiscal stimulus dissipates. The US Commerce Department said consumer spending, which accounts for more than two-thirds …

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• 28 August 2020 4:20 pm

  British Business Confidence Improving

  

  A survey showed that British business confidence has increased but remains well below its usual levels as the economy struggles to cope with social distancing and employers prepare to cut jobs. The Lloyds Bank’s corporate measure rose eight points to -14, the largest monthly rise in three years and optimism …

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• 28 August 2020 4:10 pm

  Eurozone Economic Sentiment Rose in August

  

  A survey published by the European Commission revealed that economic sentiment in the Eurozone rose in August for the fourth consecutive month after a record decline stemming from lockdown measures aimed at slowing the spread of Covid-19 in March and April. And while the monthly index measuring confidence in the …

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• 28 August 2020 3:08 pm

  Economic Confidence in Turkey Increased by 4.4% in August

  

  Data from the Turkish Statistical Institute showed that the country’s economic confidence index rose 4.4% on a monthly basis in August to 85.9 points, recording a recovery for the fourth month in a row from low levels resulting from measures to combat the Coronavirus. Economic activity fell sharply in March …

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• 28 August 2020 2:43 pm

  European Shares Drop on Lower Technology And Healthcare Stocks

  

  European shares fell as investors sold off technology and healthcare and bought bank shares, after the Federal Reserve (US Central Bank) unveiled a new framework for its policy. The pan-European STOXX 600 index fell 0.6%. Technology stocks, which have risen nearly 11% since the start of the year, fell 1.1% …

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• 28 August 2020 1:54 pm

  Gold is up 1% on Dollar’s Decline

  

  Gold rose about 1%, as the dollar fell while investors held signs of a policy of monetary easing issued by Jerome Powell, Chairman of the Federal Reserve Board (the US Central Bank). Spot gold rose 0.9% to 1946.55 dollars an ounce with the close of the Tokyo Stock Exchange, after …

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• 28 August 2020 12:54 pm

  Weak Consumer Sentiment in Germany Casts Some Doubt on a Strong Recovery

  

  A survey showed that consumer sentiment in Germany deteriorated towards September, casting some doubt on whether household spending in Europe’s largest economy is strong enough to lead a robust recovery from the Covid-19 crisis. The GFK said its consumer sentiment index, which is based on a survey of nearly 2,000 …

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