Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 29 July 2020 7:25 pm

  US Wholesale Inventories Down 2%

  

  Wholesale inventories in the United States declined by 2% during June, against market expectations of a 0.5% decline. Meanwhile, retail inventories fell by 2.6%, below market estimates of a 2.7% decline.

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• 29 July 2020 7:18 pm

  US Pending Home Sales Up 16.6%

  

  The Pending Home Sales Index in the United States rose by 16.6% to 116.1 in June, according to data released by the National Association of Realtors on Wednesday. Pending home sales also increased by 6.3% on an annual basis.

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• 29 July 2020 5:43 pm

  Trade Deficit Narrows to $70.6B in US

  

  Data released by the US Bureau of Statistics and the Bureau of Economic Analysis on Wednesday showed that the United States’ international trade deficit decreased by $ 4.6 billion to $ 70.6 billion in June. “Exports of goods for June were $ 102.6 billion, $ 12.5 billion more than May …

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• 29 July 2020 5:18 pm

  A Sharp Decline in US Oil Inventories

  

  Data from the American Petroleum Institute showed that American oil inventories witnessed a sharp decline last week, contrary to market expectations, as US oil inventories recorded a decrease of 6.8 million barrels over the week ending July 24 to 531 million barrels, while analysts’ expectations indicated that an increase of …

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• 29 July 2020 4:16 pm

  US Refining Seen Posting Worst Quarterly Results in Ten Years

  

  It is expected that the American oil refineries will announce the worst results for the second quarter in ten years, with production exceeding the demand, while the lockdown measures aimed at containing the pandemic of the Covid-19 Virus caused a severe decline in travel in the summer. According to Reuters. …

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• 29 July 2020 3:10 pm

  US Futures Higher on Hopes

  

  US equity index futures rose on Wednesday as investors were hoping for support signals from the Federal Reserve while the country faces an increase in the number of new Covid-19 cases. Recent data indicated a possible slowdown in employment with Covid-19 cases higher in California, Florida and Texas, the most …

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• 29 July 2020 2:18 pm

  ECB Warns Banks Against Dividends

  

  The European Central Bank asked the eurozone’s banks not to pay dividends to the rest of the year and asked them to accumulate their funds to strengthen defenses against the expected wave of closures. Meanwhile, at the same time, the European Central Bank has given more time to banks to …

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• 29 July 2020 1:19 pm

  Japan GDP to Shrink This Year, Coronavirus Cases Rise Across The Country

  

  Japan’s government expects the economy will contract this year as activity slowly recovers after it was hit by the coronavirus crisis, shile forecasting a return to growth next year, according to Reuters, citing government resources. One of the sources told Reuters that “the government sees GDP shrinking in the current …

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• 29 July 2020 12:48 pm

  AUD/USD Jumps to Test 15-Month Highs

  

  AUD/USD is trying to test 15-month highs at 0.7183 for the third consecutive session on Wednesday with support from selling-off in the US dollar. The Australian dollar bounced from its daily low of 0.7149 for a short period after the CPI data came in against expectations in the Q2 in …

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• 29 July 2020 12:11 pm

  Oil Rises After Surprise drop in U.S. Inventories

  

  Oil prices rose on Wednesday after a report showed that crude oil inventories in the United States fell against expectations, giving the market some support amid large increases in Covid-19 cases in the United States. Brent crude futures rose 14 cents, or 0.3%, to $ 43.36 a barrel at 03:26 …

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• 29 July 2020 11:21 am

  European Stocks Set to Open Lower

  

  European stock markets set to open lower on Wednesday with doubts over the timing of stimulus in the United States while eyes in Europe over reports from Deutsche Bank, Barclays and Santander in the banking sector. At 06:05 GMT, the German DAX futures were trading lower 0.1%, the French CAC …

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• 29 July 2020 10:47 am

  US Dollar Near 2020 Lows

  

  The US dollar, measured by the US Dollar Index (DXY), resumed the downtrend on Wednesday and is approaching its lowest near 93.50. The index quickly retracted its lead on Tuesday as sellers dominated the market and sentiment surrounding the dollar. The dollar remains under intense pressure as traders maintain the …

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• 29 July 2020 10:29 am

  Asian Stocks Mixed

  

  Asian stocks are struggling to get a steady direction with trading quietly ahead of Wednesday’s Fed meeting. The Nikkei came out with the news that the Japanese government’s plan to reduce the economic outlook for GDP for the year 20/21. Fitch downgraded Asian Majors’ Outlook to negative but the rating …

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