Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 25 August 2020 6:45 pm

  Richmond Manufacturing Activity Improves in August

  

  Manufacturing activity continued to strengthen in August, according to the most recent survey from the Federal Reserve Bank of Richmond. The composite index rose from 10 in July to 18 in August, with survey results suggesting that many Fifth District manufacturers saw increases in employment, wages, and the average workweek …

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• 25 August 2020 6:30 pm

  US Consumer Confidence Decreases in August

  

  The Consumer Confidence Index in the United States decreased for the second consecutive month in August to 84.8 down from its July reading of 91.7, according to data by the Conference Board. Moreover, the Present Situation Index decreased sharply from 95.9 last month to 84.2. Meanwhile, the Expectations Index declined from …

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• 25 August 2020 5:51 pm

  US: Housing Price Index Up 0.9% in June

  

  The Housing Price Index (HPI) in the US rose 0.9% in June, the Federal Housing Finance Agency’s (FHFA) monthly report showed on Wednesday. This reading followed May’s print of -0.2% (revised from -0.3% and came in higher than the market expectation of 0.1%. Meanwhile, the S&P/Case-Shiller’s 20-metro area Home Price …

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• 25 August 2020 5:04 pm

  US: Philly Fed Non-manufacturing Index Declines

  

  The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Nonmanufacturing Business Outlook Survey dropped to 17.9 in August from 23.7 in July, the monthly data showed on Tuesday.

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• 25 August 2020 4:21 pm

  German Business Confidence Improved More Than Expected

  

  A survey showed that German business confidence improved better than expected in August, boosting hopes that companies in the largest European economy are recovering from the coronavirus shock. The IFO said its business climate index rose to 92.6 from a revised level of 90.4 in July. This is the fourth …

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• 25 August 2020 4:18 pm

  European Shares Rising on Optimism About US-China Agreement

  

  Renewed optimism about a US-Chinese trade agreement and a less-than-expected decline in economic production in Germany led to the rise of European stocks on Tuesday, and stocks in Frankfurt recorded their highest level in a month. The European Stoxx600 index rose 0.8% by 07:11 GMT, extending gains on the back …

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• 25 August 2020 3:17 pm

  Germany Issues Travel Warning For Paris, Cote d’Azur Regions

  

  The German Foreign Ministry said that Berlin issued a travel advisory against the Paris regions and the French Riviera due to the high cases of Coronavirus there. The ministry added that it had warned against unnecessary tourist trips to the Ile-de-France region, which includes the French capital, and the southern …

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• 25 August 2020 3:16 pm

  Germany’s Economy Contracted 9.7% During Q2

  

  Germany’s statistics office said the country’s economy contracted at a record pace of 9.7% in Q2 as consumer spending, corporate investment and exports collapsed due to Coronavirus. The office added that the economic downturn far exceeds what happened during the financial crisis more than a decade ago, and represented the …

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• 25 August 2020 1:36 pm

  Gold Stabilizes as Investors Await Speech of Fed

  

  Gold stabilized on Tuesday, August 25th, as the dollar’s decline led to offsetting the pressure caused by the rise of stocks, while investors were reluctant to form large positions before US Federal Reserve Chairman Jerome Powell’s speech this week. Gold settled at 1932.15 dollars an ounce by 05:12 GMT. Was …

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• 25 August 2020 12:48 pm

  US and Chinese Negotiators Agree to Work for Trade Agreement

  

  US and Chinese trade negotiators made a phone call about implementing the first-phase agreement between the two countries, and the two countries announced at the end of the talks that they had agreed to work for the success of the trade agreement. It is noteworthy that the two countries reached …

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• 25 August 2020 12:20 pm

  Crude Oil Futures Higher During Asian Session

  

  According to the New York Mercantile Exchange, crude oil futures for October were traded at $42.56 a barrel, up 0.14%. It was previously traded higher at $42.60 a barrel. Crude oil may find support at $41.46 and resistance at $42.96. The dollar index, which measures the performance of the greenback …

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• 25 August 2020 11:44 am

  Gold Futures Declined During Asian Session

  

  According to the COMEX, gold futures were traded in December at $ 1943.30 per ounce, up 0.21%. It previously traded at a session high $ 1943.95 an ounce. Gold may find points of support at $ 1916.60 and resistance at $ 1970.30. The dollar index, which measures the performance of …

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• 25 August 2020 11:11 am

  82% of US Oil Production Stopped Due to Storms

  

  Data released by the US Environmental Safety and Protection Bureau on Monday showed that oil and gas producers stopped 1.5 million barrels of oil production in the US coast in the Gulf of Mexico, or about 82% of total production, ahead of two consecutive storms this week. Producers have also …

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