Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 2 September 2020 3:55 pm

  GDP to Drop Over 8% in 2020-Gualtieri

  

  Italian Economy Minister Roberto Gualtieri said that the country’s GDP will shrink by slightly more than 8%, stressing that production in Q3 will record a “strong recovery.” The Office for National Statistics said last week that the economy witnessed a record contraction of 12.8% in Q2 compared to the previous …

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• 2 September 2020 3:33 pm

  Dollar Extends Gains After Manufacturing Data

  

  The dollar extended gains made last night after positive US manufacturing data, while the Australian dollar took a hit when gross domestic product data on Wednesday confirmed that the country was experiencing a recession for the first time in three decades. Manufacturing activity in the US increased more than expected …

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• 2 September 2020 2:52 pm

  Oil Rises on Hopes of Recovery

  

  Crude oil futures continued their gains Wednesday, September 2, after an exceed-expectations withdrawal from crude inventories in the United States and strong activity by American and Chinese factories fueled optimism about the recovery from the Coronavirus pandemic and boosted investors’ appetite for risk. Brent crude futures rose 45 cents to …

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• 2 September 2020 2:25 pm

  Gold Falls With The Rise of US Dollar

  

  Gold prices fell on Wednesday, September 2nd as the dollar rebounded after strong data for the US industrial sector supported hopes for a rapid global economic recovery, which made the yellow metal lose some of its appeals as a safe haven. Gold spot fell 0.4% to 1962.63 dollars an ounce …

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• 2 September 2020 1:53 pm

  European Shares Open Higher After losses in 4 Sessions in a Row

  

  European shares opened higher on Wednesday, September 2, after suffering losses for four consecutive sessions, while the media and entertainment sector recovered from the large losses recorded in the previous session. The European Stoxx600 index rose 1.1% in early trade, after losing more than 2% over the past four sessions. …

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• 2 September 2020 1:01 pm

  German Retail Sales Fall Unexpectedly in July

  

  German retail sales declined in July, missing economists’ expectations of an increase Data released by the German Statistics Office on Wednesday showed that German retail sales fell by -0.9% during the month of July, compared to a decline of -1.9% in the previous June. On the year, retail sales rose …

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• 2 September 2020 12:49 pm

  Russia’s Production of Oil And Gas Condensate Increased by 5% in August

  

  Russia’s production of oil and gas condensate rose 5% in August to 41.7 million tons, or 9.86 million barrels per day, from 9.37 million barrels per day in July, Interfax news agency reported, citing data from the Russian Energy Ministry. The increase follows a decision by a group of oil-producing …

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• 2 September 2020 12:43 pm

  Crude Oil Futures Higher During Asian Session

  

  According to the New York Mercantile Exchange, crude oil futures for October were traded at $43.09 a barrel, up 0.77%. It was previously traded at a session high at $43.16 a barrel. Crude oil may find support at $42.36 and resistance at $43.57. The dollar index, which measures the performance …

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• 2 September 2020 12:39 pm

  Gold Futures Fell During Asian Session

  

  According to the COMEX, gold futures for December were traded $ 1971.20 per ounce, down 0.39%. It previously traded at a session low at $ 1965.80 an ounce. Gold may find points of support at $ 1914.70 and resistance at $ 2001.20. The dollar index, which measures the performance of …

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• 2 September 2020 11:38 am

  API: Crude Stocks Fell by More Than 6 M Barrels

  

  American Petroleum Institute data released showed a decline in US inventories of crude oil and fuel in the latest week. Crude inventories fell 6.4 million barrels for the week ending August 28 to about 501.2 million barrels, while analysts expected a decline of 1.9 million barrels. Crude stocks at the …

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• 2 September 2020 11:34 am

  Japan Stocks Rise on Hopes For US Economy

  

  Japanese stocks rose on Wednesday, September 2, after positive data for the manufacturing sector in the United States revived hopes that the global economic recovery from the Covid-19 pandemic remained on track. Nikkei closed up 0.47% to 23,247.15 points, while TOPIX index rose 0.47% to 1623.40 points. Stocks also received …

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• 2 September 2020 11:29 am

  FX Option Expiries For Sept 2 NY Cut

  

  FX option expiries for Sept 2 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1875 929m  – USD/JPY: USD amounts          105.55 829m105.75 465m106.00 581m106.50 1.1bn – USD/CAD: USD amounts         1.3225 1.1bn – NZD/USD: NZD amounts 0.6750 211m

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• 2 September 2020 10:38 am

  Mnuchin: Economy Urgently Needs Additional Financial Incentives to Fully Recover

  

  US Treasury Secretary Stephen Mnuchin said the economy desperately needs additional financial incentives to fully recover from the Covid-19 crisis, and Mnuchin added that parts of the economy still need additional support. Minuchin held Democrats in the House and Senate in Congress responsible for the failure of negotiations on a …

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