Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 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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• 17 August 2020 12:36 pm

  Russian Ministry of Health: First Batch of Coronavirus Vaccine Was Produced

  

  Russia said, Saturday, August 15, that it had produced the first batch of the Coronavirus vaccine after Russian President Vladimir Putin announced that his country was the first in the world to approve a vaccine. Putin’s announcement on the vaccine on Tuesday was met with warnings from scientists and the …

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• 17 August 2020 11:50 am

  The European Union Approves First Corona Vaccine Deal with AstraZeneca

  

  The European Union has agreed to purchase 300 million doses of the Coronavirus vaccine for the pharmaceutical company “AstraZeneca” as soon as it becomes available, according to the Commission. The European Commission, which is negotiating on behalf of all 27 EU member states, said the deal includes an option to …

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• 17 August 2020 11:10 am

  China is Stepping up US Oil Purchases Before Reviewing Trade Agreement

  

  American and Chinese importers and dealers told Reuters that crude oil shipments from the United States to China will rise dramatically in the coming weeks, as the two largest economies in the world prepare to review an agreement signed in January after a long trade war. They said that Chinese …

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• 17 August 2020 10:35 am

  FX Option Expiries For Aug 17 NY Cut

  

  FX option expiries for Aug 17 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1900 937m  – GBP/USD: GBP amounts         1.3090 623m – USD/JPY: USD amounts          105.50 534m105.65 624m   106.02 438m – NZD/USD: NZD amounts 0.6575 301m 

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• 17 August 2020 9:02 am

  Weekly Recap 10-14 AUG

  

  Optimism regarding the development of a vaccine of Covid-19 continued to dominate the markets. Also, Democratic and Republican parties failed to reach an agreement on the second stimulus and financing package of Coronavirus. The US currency suffered heavy losses during last week’s, to record a decline for the eighth consecutive …

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• 15 August 2020 3:21 am

  NYSE Ends Friday Mixed but Records Weekly Gains

  

  The New York Stock Exchange (NYSE) showed a mostly negative performance on Friday, as weak economic data in the United States weighed on the stock market, amid concerns over a second wave of the COVID-19 pandemic. The Dow Jones Industrial Average added 0.1%, while S&P 500 lost less than 0.1%, …

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• 15 August 2020 2:59 am

  Kaplan Ok With Inflation Above 2%

  

  President of the Federal Reserve Bank of Dallas, Robert Kaplan, has expressed tolerance with the idea of the inflation rate going above the 2% target. “I would be willing to see inflation run moderately above 2% in the aftermath of periods where we’ve been running persistently below.”“I’m not making a …

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• 15 August 2020 2:06 am

  Oil Prices Settle Lower but Record Weekly Gains

  

  Oil prices settled lower on Friday, narrowing its weekly gains, amid concerns over the recovery of the demand and a second wave of the coronavirus (COVID-19) pandemic. Brent crude futures for October delivery finished lower by 0.4% at $44.80 per barrel, but gained 0.9% for the week. Meanwhile, the West …

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