Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 23 July 2020 9:11 pm

  US Regulator Allows Cryptocurrency Banking Services

  

  The Office of the Comptroller of the Currency (OCC), an independent bureau within the United States Department of the Treasury, approved that banks could provide custody services for cryptocurrencies, Reuters reported. Providing custody and safekeeping services for cryptocurrencies is now considered a modern version of banking services. Such services include …

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• 23 July 2020 8:57 pm

  EUR/USD Unfazed by Consumer Confidence Data

  

  The Euro’s (EUR) rally against the US Dollar (USD) was not affected by the worsening consumer confidence indicator for the Eurozone, considering that data by the European Commission suggested that the index remained stable despite a 0.3% decline. The EUR/USD is trading at ‪1.16193, up by 0.40% for the day. …

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• 23 July 2020 8:26 pm

  We Could Be Seeing More EUR Gains Soon

  

  The Euro is now supported by the European Union’s (EU) recent agreement for a recovery fund to help the bloc’s economy combat the downturn caused by the coronavirus disease (COVID-19) crisis. Approving the recovery fund spurred demand for European assets and extended the Euro’s rally, and now, market analysts are …

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• 23 July 2020 7:58 pm

  US Natural Gas Supplies Rise 37 BCF

  

  The United States domestic supplies of natural gas increased by 37 billion cubic feet (bcf) last week, according to data released by the Energy Information Administration (EIA). The increase exceeded analysts’ expectations of a 33 billion cubic feet (bcf) increase.

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• 23 July 2020 7:17 pm

  European Consumer Confidence Further Declines in June

  

  Data by the European Commission’s Directorate-General for Economic and Financial Affairs (DG ECFIN) showed that the consumer confidence indicator for the Eurozone declined in June by 0.3 points to -15. On the European Union’s (EU) level, the consumer confidence indicator remained unchanged at -15.6. Both indicators remain well below their …

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• 23 July 2020 6:04 pm

  Bitcoin Struggling And Ethereum outperforming

  

  Bitcoin is struggling to stay above $ 9,500 with bullish momentum fading and the technical picture indicates that the price may fall to 9400 before resuming the rally. Interest in bitcoin reached its lowest level since December 2019 amid fluctuations and low trading volumes. Bitcoin dominance index fell to 61.5% …

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• 23 July 2020 5:15 pm

  Dollar Hits Four-month Low

  

  The US dollar reached its lowest level in four months, and the Chinese yuan regained some losses from the previous decline, as investors adopted a wait-and-see attitude regarding the outcome of the tensions between the two countries. The United States granted China until Friday to close its Houston consluate, on …

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• 23 July 2020 5:07 pm

  Jobless Claims in US Increased by 109,000

  

  Weekly jobless claims in the United States increased by 109,000 as data released by the US Department of Labor on Thursday revealed 1,416,000 initial claims for unemployment benefits in the United States during the week ending July 17. That reading came after last week’s reading of 1,307,000 and worse than …

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• 23 July 2020 4:25 pm

  US Stocks Set to Open Higher

  

  US equity markets are set to open higher with sentiment gaining some confidence after Tesla and Microsoft’s results. Earnings reports from Microsoft exceeded analysts’ expectations for a 13% increase in sales and a net profit of $ 11.2 billion, despite disappointment that Azure’s sales growth slowed below 50%. Dow Jones …

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• 23 July 2020 3:25 pm

  British Factory Orders Fell at The Slowest Pace

  

  British factory orders fell at the slowest pace since March this month and firms are more optimistic about the coming months after the economic impact of COVID-19 caused the biggest collapse in demand since 1980. The Confederation of British Industry’s (CBI) monthly order book balance rose to -46 in July …

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• 23 July 2020 2:40 pm

  Europe Stocks Higher But Tensions Dominate

  

  European stock markets are rising on Thursday, supported by increased confidence and strong earnings from Unilever, but were quickly bogged down by more headlines about the tension between the United States and China. The German DAX rose 0.5%, French CAC rose 0.3% while FTSE scored 0.4%. Consumer sentiment in Germany …

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• 23 July 2020 1:57 pm

  USD is Falling on Tensions

  

  The US dollar on the dollar index, which measures the strength of the US currency against a basket of major currencies, fell to the lowest level in four months to continue to decline with investors in wait and see attitude by what the tension between the United States and China …

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• 23 July 2020 1:27 pm

  Sterling Steady Above $1.27

  

  The British pound settled above $ 1.27 in the last day of Brexit negotiations, with investors looking for any headlines that might shed some light on whether Britain will exit the European Union with a deal at the end of the year. Media reports suggested the United Kingdom has given …

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