Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 11 July 2020 2:44 am

  Goldman Sachs Sees Gold at $2,000 per ounce

  

  Goldman Sachs has raised its forecasts for gold prices during 2020, according to a recent note, CNBC reported. The bank sees gold prices at $1,800 per ounce during the next three months, at $1,900 for the coming six months, and at $2,000 a ton for the coming 12 months. Goldman …

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• 11 July 2020 1:07 am

  Nasdaq Breaks Another Record

  

  The New York Stock Exchange (NYSE) maintained its gains on Friday, despite the United States seeing a new record high of new coronavirus cases, with the Nasdaq reaching a new all-time high closing level. Energy stocks achieved noticeable gains, supported by the recent IEA report that suggested improved demand for …

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• 11 July 2020 1:00 am

  Oil Prices Close Friday Up by 2%

  

  Oil prices gained more than 2% on Friday, after the International Energy Agency (EIA) expected improved demand for crude during 2020, claiming that the worst effects of the COVID-19 pandemic on the oil market are over. Brent crude settled higher by 2% or 89 cents at $43.24 per barrel, while …

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• 10 July 2020 11:55 pm

  Gold Prices Declines but Log Weekly Gains

  

  Gold prices declined for the second consecutive day but were able to maintain the $1,800 level, near its highest in nearly nine years. The yellow metal futures for August delivery decreased marginally by $1.90 and settled at $1,801.90 per ounce. Gold prices increased by 0.7% for the week. This is …

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• 10 July 2020 11:45 pm

  Baker Hughes: US Oil Rigs Down in Week

  

  The number of active US oil rigs decreased by four to 181 this week, according to data by Baker Hughes. It worth mentioning that the number of rigs drilling for crude oil in the US did not a single increased since mid-March.

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• 10 July 2020 11:36 pm

  European Stocks Up 0.5% for the Week

  

  European stocks settled higher on Friday, supported by positive industrial data in France and Italy. The pan-European STOXX Europe 600 index closed up by 0.81% at 366.6 points, up by 0.50% for the week. In the London Stock Exchange (LSE), FTSE100 finished higher by 0.76%. Meanwhile, the French CAC40 index …

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• 10 July 2020 10:06 pm

  Kaplan: Face Masks Could Speed Economic Recovery

  

  President of the Federal Reserve Bank of Dallas, Robert Kaplan, has called for increased use of face masks across the United States to combat the spread of the coronavirus disease (COVID-19). “While monetary and fiscal policy have a key role to play, the primary economic policy from here is broad …

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• 10 July 2020 9:44 pm

  IEA: COVID-19 Worst Impact on Oil Market Has Passed

  

  The worst effects of the coronavirus pandemic on global oil demand may have passed, according to a report by the International Energy Agency (IEA) on Friday, the Wall Street Journal reported. However, the crisis will continue to leave its toll as markets slowly recover during the second half (H2) of …

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• 10 July 2020 9:17 pm

  Moody’s: British Economy to Contract by 10%

  

  Moody’s Investors Services expects the British economy to contract by 10.1% in 2020, despite the UK government’s recently announced GBP 30 billion stimulus package. In addition, the rating agency forecasts the public debt-to-GDP ratio to increase by 24% or more. Moody’s also foresees a gradual recovery with an expected growth …

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• 10 July 2020 7:56 pm

  Federal Reserve Buys Apple and Ford Bonds

  

  The US Federal Reserve has added $1.33 billion worth of bonds from individual companies on June 22-30, Reuters reported. The bond purchases included big company names, such as Apple, Walt Disney, and Ford Motor. The Fed has already bought $428 million worth of bonds bought as part of a large …

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• 10 July 2020 6:01 pm

  Remdesivir Has Shown Good Results

  

  Gilead Sciences Inc said that its antiviral drug has shown good results. Remdesivir greatly improves the clinical recovery of COVID-19 patients, which reduces the risk of death. The company stated that these results will need to be confirmed in upcoming clinical trials. Gilead Sciences Inc said that the data of 312 …

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• 10 July 2020 5:50 pm

  US is Considering imposing Tariffs on French goods

  

  According to some news reports on Friday, the United States is considering imposing tariffs of 500 to 700M dollars on French goods after escalation on the French side, imposing a taxes on major technology companies, including huge American companies. Reports indicated that this decision will be announced soon, and it …

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• 10 July 2020 5:30 pm

  Canadian Unemployment Rate Falls to 12.3% in June

  

  Net change in employment in Canada increased more than expected as Statistics Canada reported on Friday that net change in employment in Canada rose by 953,000 in June, bringing the unemployment rate down to 12.3% from 13.7% recorded in May. However, the unemployment rate came out worse than the market’s …

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