Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 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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• 10 July 2020 5:17 pm

  US: Annual Core PPI Arrives at 0.1% in June

  

  Annual core PPI in the U.S. fell more than expected in June, as data published by the US Bureau of Labor Statistics on Friday showed that US PPI for final demand decreased to -0.2% in June from 0.4% in May, on an annual basis. The index remained unchanged at -0.8% …

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• 10 July 2020 3:59 pm

  France, Italy Factory Output Rebounds Sharply

  

  France and Italy posted large rebounds in industrial production for May, providing some safety over the prospects for an economic recovery in Europe. French industrial production increased by 19.6% on a monthly basis, while Italy recorded 42.1%. It is worth noting that one of the most important industrial provinces of …

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• 10 July 2020 3:03 pm

  EU’s Michel Discussing EU Budget, Recovery and Brexit With MEPs

  

  European Council President Charles Michel is meeting with members of the European Parliament on Friday. The discussion focused on finding an agreement on a long-term EU budget of 1.074 trillion euros and a recovery fund of 750 billion euros for the worst-hit countries by the coronavirus pandemic. Reuters reported that …

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• 10 July 2020 2:25 pm

  Hong Kong to Suspend Schools and Melbourne in lock-down.

  

  Hong Kong authorities announced today the closure schools again on Monday, with increased cases of Covid 19, an indication of the full lockdown soon. The decision came after the number of infected people rose to 1,404 in Hong Kong after 34 new cases were recorded, which raised fears as there …

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• 10 July 2020 12:47 pm

  IEA Raises 2020 Oil Demand Forecast

  

  The International Energy Agency (IEA) raised its forecast for global oil demand in 2020 but warned that the recovery may face some obstacles due to the high number of new COVID-19 cases worldwide. The agency said in a monthly report that the collapse of fuel consumption during Q2 was less …

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• 10 July 2020 12:04 pm

  European Stocks Fall For The Fourth Session

  

  European stocks continued to post losses for the fourth straight session on Friday, as fears increased over the economic recovery due to the rise in COVID 19 cases worldwide. The pan-European STOXX 600 index (STOXX) slipped 0.4% by 07:14 GMT, (SXEP) sliding 1.4%. Other growth-sensitive sectors such as miners, insurers …

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