Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 19 September 2020 1:22 am

  Oil Prices Register Weekly Rise

  

  Oil prices showed a mixed performance on Friday amid concerns over demand outlook and output disruptions, especially in North America. Crude prices also received support from recent remarks reiterating the commitment of OPEC+ to restoring market balance. Brent crude futures for November delivery decreased by 15 cents, or 0.4%, to …

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• 19 September 2020 12:35 am

  Gold Maintains Gains for Second Week

  

  Gold prices maintained a rising streak for the second consecutive week after rising on Friday. Gold futures for December delivery gained $12.20, or 0.6%, and finished at $1,962.10 per ounce, adding 0.7% for the week. Meanwhile, silver futures increased by 3 cents, or 0.1%, and closed at $27.129 per ounce, …

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• 18 September 2020 11:08 pm

  European Stocks Record Small Weekly Gains

  

  European stocks closed lower on Friday, as the Stoxx Europe 600 index declined by 0.52% and finished at 369.31 points, rising by 0.24% for the week. The UK’s FTSE100 decreased by 0.71%, following the Bank of England’s (BoE) decision to maintain its main rate steady at 0.1%. Meanwhile, the German …

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• 18 September 2020 10:17 pm

  US Oil Rigs Decline in Week

  

  Oil and natural gas rigs in the United States increased this week, according to data by Baker Hughes. Active oil and gas rigs increased by one to 255, but remained 71% below the level of rigs for the same time last year at 613 rigs. Oil rigs fell by one …

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• 18 September 2020 10:10 pm

  US Current Account Deficit Increases by 53%

  

  Current account deficit in the United States increased during the second quarter (Q2) of 2020, data by the US Department of Commerce showed on Friday. The current account deficit surged by 52.9% to $170.5 billion in Q2 of 2020, its highest level in about 12 years, since Q3 of 2008. …

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• 18 September 2020 7:13 pm

  Kashkari Prefers Stronger Tone on Rates

  

  President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Friday the monetary policymakers need to take better measurements to ensure the economy restore its pre-crisis levels. “I would have preferred the Committee make a stronger commitment to not raising rates until we were certain to have achieved …

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• 18 September 2020 6:55 pm

  Bostic: Inflation Stability is Necessary Above 2%

  

  The President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Friday that he will accept inflation going above 2% to 2.3% but remaining stable. “By contrast, if we were at 2.2% and the next quarter at 2.4% and then at 2.6% that trajectory would give me concern.”

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• 18 September 2020 6:01 pm

  Ethereum Transactions Hit All-Time High

  

  The number of Ethereum transactions on blockchain recorded its all-time daily high on Thursday, Coin Telegraph reported. Daily transactions reached 1.406 million yesterday, as shown by data from Etherscan.

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• 18 September 2020 5:55 pm

  US Current Account Deficit Jumps 53% in Q2

  

  The US current account deficit rose to the highest level in nearly 12 months in Q2, as the Covid-19 pandemic put pressure on exports of goods and services. The US Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of …

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• 18 September 2020 5:18 pm

  Canadian Retail Sales Rise by 0.6% in July

  

  Retail Sales in Canada increased by 0.6% in July to $52.9 billion, the data published by Statistics Canada showed on Friday. This reading followed June’s increase of 0.7% and fell short of the market expectation of 1%. “Core retail sales, which exclude these two subsectors, declined 1.2% on lower sales …

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• 18 September 2020 4:34 pm

  Russia Central Bank Keeps Key Interest Rate at 4.25%

  

  The Russian Central Bank kept the key nterest rate at 4.25%, suspending its monetary easing cycle in light of the growing risks of imposing new sanctions on Moscow, but hinted that cutting interest rates is still possible later this year. The decision to keep interest rates at a record low …

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• 18 September 2020 3:38 pm

  Gold is Rising on Weak US Dollar

  

  Gold prices rose and on track to achieve gains for the second week in a row thanks to the weak dollar as weak jobs data in the United States negatively affected hopes for the economic recovery. Gold rose in spot trading 0.6% to 1953.70 dollars an ounce with the opening …

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• 18 September 2020 2:40 pm

  Turkish Lira Hits a Fresh Low Against US Dollar

  

  The Turkish lira fell to a fresh low against the dollar, as investors focused on the possible steps of the central bank to tighten monetary policy ahead of a policy meeting next Thursday. Lira touched a low of 7.5660, retreating from Thursday’s close of 7.5595. The Lira has fallen more …

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