Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 23 September 2020 12:26 pm

  Crude Oil Futures: Outlook Remains Neutral/Bearish

  

  Traders increased their open interest positions by around 5.6K contracts on Tuesday, extending the erratic performance seen as of late in light of flash data from CME Group. On the other hand, volume resumed the downside and shrunk by around 182.1K contracts. Prices of the barrel of WTI charted an …

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• 23 September 2020 12:22 pm

  China Says it Will Boost Investment in Strategic Industries

  

  China has said it will invest in strategic industries, including key technology sectors such as 5G networks, artificial intelligence and chips. The National Development and Reform Commission said China will speed up the development of new materials to ensure stable supply chains for the aircraft industry, microelectronics and deepwater mining …

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• 23 September 2020 12:21 pm

  Nikkei is Dropping on Virus Fears And Stimulus After Long Weekend

  

  Japanese shares fell on Wednesday, September 23, as the stock market tracked losses in global markets after a long weekend and under pressure from fears of a rise in cases of Coronavirus and the delay of an American stimulus program. Car stocks and other value stocks recorded the largest losses, …

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• 23 September 2020 12:19 pm

  Gold is Touching its Lowest Level in 6 Weeks Under Strong Dollar Pressure

  

  Gold prices touched on Wednesday, their lowest level in 6 weeks with the rise of the dollar in light of the decline in sentiment in Europe due to the Coronavirus crisis, while investors grew concerned about more stimulus from the US Federal Reserve. Gold spot lost 1% to 1880.46 dollars …

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• 23 September 2020 1:09 am

  Fed’s Barkin Says COVID-19 Vaccine is Essential For Recovery

  

  President of the Federal Reserve Bank of Richmond Tom Barkin said on Tuesday that the US labor market and economic activity may not fully recover until a vaccine and treatments for the novel Coronavirus are developed. “If this rate of initial claims continues, you have to imagine the recent improvements …

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• 23 September 2020 1:04 am

  UK Factory Orders Down to Three-Month Low

  

  Manufacturers in the United Kingdom saw the highest decline in orders in three months during September, according to data by the Confederation of British Industry (CBI) on Tuesday. The CBI monthly industrial order book balance decreased to -48 in September from -44 in August. It is worth noting that UK …

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• 23 September 2020 1:01 am

  European Stocks Rise Despite Uncertainty

  

  European stocks closed higher on Tuesday, despite concerns about the rising number of COVID-19 cases across the continent and the prospects of renewed lockdown measurements. The STOXX Europe 600 index closed higher by 0.46%. The UK’s FTSE100 gained 0.43%, while the French index CAC40 levelled up by 0.40%. Meanwhile, the …

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• 22 September 2020 11:44 pm

  Gold Settles Lower for Second Day amid Uncertainty

  

  Gold prices declined on Tuesday for the second consecutive session, amid a rebound by the US Dollar (USD). This comes amid increasing uncertainty regarding the COVID-19 pandemic, with some European countries re-imposing restrictions and lockdowns to combat the spread of the virus. Gold futures for December delivery lost $3, or …

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• 22 September 2020 11:09 pm

  DXY Maintains Rising Rally

  

  The US Dollar (USD) is maintaining its upward trend against major currencies on Tuesday, amid uncertainty regarding the state of the COVID-19 pandemic. The Dollar index (DXY), which measures the performance of the USD against a basket of six major international currencies, is up for the day by 0.34% at …

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• 22 September 2020 9:50 pm

  Eurozone Consumer Confidence Rises in September

  

  Consumer confidence in the Eurozone increased by 0.8 points in September, compared with its level in August, according to data released by the European Commission on Tuesday. Eurozone consumer confidence increased to -13.9 from -14.7 last month, while for the entire European Union the indicator increased by 0.6 points to …

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• 22 September 2020 8:08 pm

  US Existing Home Sales Rise to New Record in August

  

  Existing home sales in the United States increased during the month of August to its highest level in about 14 years, according to data by the National Association of Realtors (NAR). Existing home sales went up by 2.4% to a seasonally adjusted annual rate of 6 million units in August, …

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• 22 September 2020 7:39 pm

  Fed’s Evans Calls for New Fiscal Stimulus

  

  President of the Federal Reserve Bank of Chicago Charles Evans said on Tuesday that failing to pass a new economic stimulus package could lead to a longer recession and a slower recovery, Reuters reported. “Fiscal support is just fundamental.” Evans expects the unemployment rate in the United States to decline …

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• 22 September 2020 6:11 pm

  Richmond Fed Manufacturing Index Edges Higher in September

  

  The activity in the Federal Reserve’s Fifth District’s manufacturing sector expanded at a stronger pace in September than it did in August with the Composite Index of the Richmond Fed’s Survey of Manufacturing Activity rising to 21 from 18. Further details of the report showed that the Manufacturing Shipment Index declined …

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