Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 28 September 2020 8:15 pm

  USD/JPY Stable Near 105.5

  

  The US Dollar (USD) is showing stability against the Japanese Yen (JPY) despite mostly weakness across the board. The USD/JPY is trading at 105.55, marginally lower for the day by 0.03%. The pair has been moving in a range between 105.270 and 105.690. After closing last week at 105.58, the …

  Read More »
• 28 September 2020 8:07 pm

  GBP/USD Shows Strong Performance Above 1.200

  

  The British Pound (GBP) is surging in front of the US Dollar (USD) on Monday, opening the week with a strong performance amid a relevant decline by the USD. The GBP/USD is trading higher for the day by 0.88% at 1.2858 after opening today at 1.2745, a little below its …

  Read More »
• 28 September 2020 7:18 pm

  Texas Production Activity Expands in September

  

  The Texas factory production index increased by nine points to 22.3 in September, its highest reading in two years, according to data by the Texas Manufacturing Outlook Survey. This is the fourth consecutive monthly increase for the index, signaling recovery from the impacts of the COVID-19 pandemic. Meanwhile, future production …

  Read More »
• 28 September 2020 5:54 pm

  ECB’s Lagarde: ECB Continues to Stand Ready to Adjust All of Its Instruments

  

  The economic recovery in the euro area remains incomplete, uncertain and uneven, Christine Lagarde, President of the European Central Bank (ECB), reiterated while delivering her prepared remarks at the EU Committee on Economic and Monetary Affairs. “In the current environment of elevated uncertainty, the Governing Council will carefully assess all …

  Read More »
• 28 September 2020 5:38 pm

  The Turkish Lira Drops to Fresh Lows Weighted by Caucasus Conflict

  

  The Turkish lira fell to record levels against the dollar, the euro and the pound on Monday, September 28, in light of fears of increasing Turkey’s intervention in the rapidly escalating conflict in the Caucasus, despite the sudden interest rate hike last week in order to support the currency. The …

  Read More »
• 28 September 2020 4:38 pm

  Germany Proposes Rule of Law Conditions For Accessing EU’s COVID Recovery Fund

  

  European Union chair Germany has proposed a rule of law scheme for accessing EU funds in negotiations between member states and the European parliament, Reuters reported on Monday, citing an internal document. Quotes according to Reuters “Rule of law is essential, important to protect the EU’s financial interests, impartial courts.”“Respect for …

  Read More »
• 28 September 2020 3:38 pm

  PBOC: We Will Maintain Ample Liquidity And Reduce Financing Costs

  

  The People’s Bank of China said it will maintain reasonably ample liquidity and direct funding costs down. The People’s Bank of China said in a statement after a meeting of its monetary policy committee that it would make this policy more flexible and targeted. He went on to say that …

  Read More »
• 28 September 2020 2:54 pm

  US Dollar Near a Two-Month High Amid Political And Economic Risks

  

  The dollar traded near a two-month high against a basket of currencies on Monday, September 28, while doubts about an economic recovery continued before a batch of economic data and political developments in the United States. The recovery of US stocks on Friday contributed to limiting the rise of the …

  Read More »
• 28 September 2020 2:10 pm

  Oil is Falling on Uncertainty Surrounding The Recovery of Demand

  

  Oil prices fell on Monday, September 28, as the high number of coronavirus cases dampened hopes for a smooth recovery in fuel demand, while the two major benchmarks are moving towards recording their first monthly decline in several months after falling last week. By 06:52 GMT, Brent crude was down …

  Read More »
• 28 September 2020 1:21 pm

  Gold Rises as US Dollar Weakens, Eyes on a debate between Trump and Biden

  

  Gold prices rose on Monday, September 28, as the dollar retreated from a two-month high last week as political uncertainty increased ahead of the first presidential debate between US President Donald Trump and his Democratic rival, Joe Biden. Gold rose in the spot market 0.1% to $ 1861.13 an ounce …

  Read More »
• 28 September 2020 12:48 pm

  Nikkei Ends Higher on Boost From Ex-Dividend Stocks

  

  Japanese stocks closed higher on Monday, September 28, in light of greater demand for stocks whose cash dividends are due to expire this week, but US-Chinese tensions limited the gains. The Nikkei rose 1.32% to 2,3511.62 points, while the broader TOPIX index gained 1.69% to 1,661.93 points. All sub-sector indices …

  Read More »
• 28 September 2020 12:05 pm

  OPEC: Oil Inventories in Advanced Economies Below an Average of 5 years in Q1 2020

  

  Mohamed Barkindo, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Sunday (September 27th) that oil stocks in the Organization for Economic Cooperation and Development countries in the first quarter of 2021 are expected to remain above their five-year average by a slight margin before falling below …

  Read More »
• 28 September 2020 11:34 am

  Russian Energy Minister Warns of Covid-19 Risks to Global Oil

  

  Russian Energy Minister Alexander Novak said that the global oil market has stabilized in the past few months and that the balance between supply and demand has been restored, while uncertainties continue, such as the rise in COVID-19 cases. He also said that talks about the possibility of transferring exports …

  Read More »