Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 14 August 2020 12:35 am

  Oil Down 1% on Negative Demand Forecasts

  

  Oil prices settled lower on Thursday after a mixed performance, on the back of expectations of a slump in the global demand for crude oil this year. This comes one day after crude prices surged due to a more than expected decline in U.S. oil stockpiles. Brent crude futures for …

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• 14 August 2020 12:10 am

  Gold Settles Higher For Second Day

  

  Gold prices rose on Thursday, after a brief correction movement on Tuesday, surging by as much as 2.5% after data showed that jobless claims in the United States fell below one million for the first time since March. However, the yellow metal is yet to restore the $2,000 an ounce …

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• 13 August 2020 9:51 pm

  Ethereum Average Transaction Fees at Record High

  

  The average fee for Ethereum transaction increased to a new record high of $7.50, Coin Telegraph reported. The rise in fees is attributed to increased interaction with stablecoins on the Ethereum network. Ethereum rose by around 2.47% during the past 24 hours, as it is now trading at $394.68.

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• 13 August 2020 9:27 pm

  Kudlow Expects Single Digit Unemployment Rate

  

  White House economic adviser and the Director of the National Economic Council, Larry Kudlow, expects unemployment rate in the United States to fall below 10% in August. Besides the single-digit unemployment rate, Kudlow says the U.S. economy growing in the third quarter (Q3) by 20%, Reuters reported. “The key point …

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• 13 August 2020 8:39 pm

  European Stocks Settle Lower

  

  European stocks closed lower on Thursday, due to negative earnings reports by a number of major listed companies. The Stoxx Europe 600 index declined by 0.46%, while FTSE100 dropped 1.50%. In France, the CAC40 index settled lower by 0.61%, while the German DAX fell by 0.50%.

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• 13 August 2020 7:16 pm

  Wall Street Opens Mixed

  

  Wall Street indices opened Thursday mixed, with the Dow showing losses while Nasdaq and S&P holding on to gains, supported by a record decline in jobless claims to their lowest level in around five months. The Dow Jones Industrial Average is down by 53.19 points or 0.19%, and S&P 500 …

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• 13 August 2020 6:06 pm

  Turkish Lira Approaching a Record Low

  

  The Turkish lira is heading towards a record low on Thursday after Finance Minister Barat Albayrak played down the importance of currency fluctuations and emphasized its competitiveness. Turks have flocked to buy foreign currency in recent weeks and analysts have called for tougher measures, such as an official tightening of …

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• 13 August 2020 5:38 pm

  Spain Says US Should Waive Tariffs on EU Goods

  

  Spanish Trade Minister Reyes Maroto said the United States should waive its tariffs imposed on European Union because the bloc has complied with all WTO rules regarding aircraft manufacturer Airbus. She added that the Spanish government rejects a US decision to keep the duties in effect on European Union goods. …

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• 13 August 2020 4:51 pm

  US Weekly Jobless Claims Fall Below One Million

  

  There were 963,000 Initial Claims for unemployment benefits in the US during the week ending August 8st, Labor Department revealed on Thursday, better than the market expectation of 1.1 million and it’s the first reading below 1 million since mid-March.

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• 13 August 2020 4:32 pm

  USD Continues to Decline on Rising Stocks

  

  The dollar fell to its lowest level in a week against a basket of currencies on Thursday, August 13th, while analysts pointed out that the reasons for the weakness lie in the solid performance of the stock market and the failure of additional stimulus to the US economy. After losing …

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• 13 August 2020 4:27 pm

  French Unemployment Rate Hits 37-Year Low

  

  Data from the National Institute of Statistics and Economic Studies in France showed that unemployment in the country fell to its lowest level in 37 years during Q2, as a downward trend that continued for several years was exacerbated by the general isolation measures imposed to confront the Coronavirus, which …

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• 13 August 2020 3:09 pm

  Facebook and Twitter Escalate War Against US Election Misinformation

  Online social media platforms have escalated their war against misinformation about the US election. Facebook has created a center to help users with polling resources, and Twitter has expanded the rules against misinformation about the mail and early voting. The move comes at a time when social media networks on …

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• 13 August 2020 1:24 pm

  Gold Rises on Increased Demand And Lower USD

  

  Gold rose Thursday, August 13th, thanks to the dollar’s decline, to record further gains above the critical $ 1900 level, after a sharp retreat earlier in the week from its highest levels ever. By 07:08 GMT, spot gold increased 0.6% to $ 1929.13 an ounce, after falling below $ 1900 …

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