Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 9 September 2020 6:00 pm

  Morgan Stanley: Brent Crude to Rise to $50/bbl in 2021 on Inflation And Weaker Dollar

  

  Morgan Stanley said in a note on Wednesday that he expects Brent crude prices to rise to $ 50 a barrel by the second half of 2021, supported by a weakening dollar and increasing inflation. “Unprecedented expansion of monetary aggregates has weakened the US dollar and put upward pressure on …

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• 9 September 2020 5:25 pm

  China to Support Consumption to Contribute to Recovery of Economy

  

  The Chinese government said it would support consumption to contribute to the recovery of the economy, adding, “Consumption has been relatively hit by the need this year and has become the weak link in the economic recovery.” Official data showed that retail sales in China fell 1.1% in July, compared …

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• 9 September 2020 4:29 pm

  India’s fuel demand declined 15.6% year-on-year in August

  

  Fuel demand in India fell 15.6% in August compared to the same month last year, as data released by the Petroleum Planning and Analysis at the Ministry of Oil showed that total fuel consumption, an indicator of oil demand, reached 14.39 million tons. Gasoline sales were 7.5% lower than a …

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• 9 September 2020 3:36 pm

  The Yen Rises on Concerns About Corona Vaccine and Technology Stocks

  

  The Japanese yen rose due to growing concerns in financial markets on Wednesday, September 9, and after US technology stocks saw a sell-off the previous day and as a coronavirus vaccine faces delays. The US dollar was supported by a decline in the stock market prompted investors to sell riskier …

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• 9 September 2020 3:25 pm

  Bank of Canada Rate Decision Preview

  

  The Bank of Canada is widely expected to keep the interest rate unchanged at 0.25% at its meeting on Wednesday, with Bank of Canada Governor Tiff Macklem recently indicating that the bank will not raise rates Until 2023. The Canadian dollar hit 1.2994, its highest against the US dollar on …

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• 9 September 2020 2:54 pm

  Turkish Lira at a Record Low Below 7.49 Against US Dollar

  

  The Turkish lira fell to a record level below 7.49 against the dollar, under the influence of growing risk aversion, which increased selling pressure in the world. The lira recorded a low level at 7.4920, bringing its losses against the US currency since the beginning of this year to about …

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• 9 September 2020 1:50 pm

  European Shares Rise, AstraZeneca Plummet Due to Halting Coronavirus Vaccine Trials

  

  European shares stabilized on Wednesday after falling sharply in the previous session, but sentiment was shaken by the suspension of AstraZeneca global trials of its Covid-19 vaccine. AstraZeneca shares fell 1.3% as it announced the suspension of large trials in its final stages on an experimental vaccine due to the …

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• 9 September 2020 1:29 pm

  Japan Shares at Their Lowest Level in a Week And Half

  

  Japanese stocks hit their lowest levels in more than a week on Wednesday, September 9th, in light of global risk aversion as heavy technology companies continued losses in the United States. The Nikkei index closed 1.04% lower at 2,3032.54 points, while the broader TOPIX index lost 0.96% to 1,605.40 points. …

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• 9 September 2020 12:18 pm

  Gold Falling, Dollar Rise And Eyes on Banks

  

  Gold prices fell on Wednesday, September 9th, as the dollar’s rally overshadowed the support caused by the decline in global stocks, while investors awaited monetary policy strategies from central banks this week. Spot gold fell 0.3% to 1925.97 dollars an ounce by 06:16 GMT. And gold in US futures fell …

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• 9 September 2020 11:32 am

  Chinese CPI Fell 2.4% in August, in Line With Expectations

  

  China’s CPI fell 2.4% in August on an annualized basis, in line with expectations. In addition, the producer price index registered a 2% decline, in line with expectations for the same period. It is reported that this decline came at the slowest annual pace since last March, indicating that the …

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• 9 September 2020 10:39 am

  ECB Warns Banks Against Dividends

  

  According to a Bloomberg survey of economists, the European Central Bank (ECB) will continue with its verbal intervention while keeping rates on hold this week. “The currency’s 10% jump since coronavirus lockdowns started in March makes ECB President Christine Lagarde’s job harder by putting downward pressure on inflation. Combined with …

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• 9 September 2020 10:28 am

  FX Option Expiries For Sept 9 NY Cut

  

  FX option expiries for Sept 9 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1800 717m1.1840 508m1.1925 773m – USD/JPY: USD amounts          105.40 450m105.45 520m105.50 426m106.25 533m106.50 841m – NZD/USD: NZD amounts 0.6550 203m0.6680 231m

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• 9 September 2020 1:02 am

  NYSE Closes on Large Losses

  

  The New York Stock Exchange (NYSE) closed lower on Tuesday with the correction wave continuing and tech stocks leading the decline. The Dow Jones Industrial Average dropped by 632.42 points, or 2.25%, to close at 27,500.89 points. Meanwhile, the S&P 500 finished lower at 3,331.84 points, losing 95.12 points or …

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