Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 16 September 2020 8:39 pm

  US Oil Inventories Down 4.4 M Barrels

  

  Data of the United States Energy Information Administration’s (EIA) weekly report showed on Wednesday that crude oil inventories in the US declined by 4.4 million barrels last week. This comes against market analysts’ expectations of a 1.27 million barrel rise in US oil stockpiles.

  Read More »
• 16 September 2020 8:11 pm

  European Stocks Settle Higher Awaiting Fed Statement

  

  European stocks closed higher on Wednesday, amid anticipation for the results of the US Federal Reserve meeting. The Stoxx Europe 600 gained 0.43% and closed at 372.57 points. Meanwhile, the UK’s FTSE100 declined by 0.44%, amid Brexit uncertainty. In France, the benchmark index CAC40 edged up by 0.13%, while in …

  Read More »
• 16 September 2020 7:09 pm

  Japan’s PM Vows to Protect Employment

  

  The new Prime Minister of Japan, Yoshihide Suga, has vowed to protect employment against the effects of the COVID-19 pandemic. On Wednesday, in his first remarks as the successor of Shinzo Abe, the Prime Minister said that COVID-19 is the biggest challenge facing the Japanese economy, Reuters reported. Following the …

  Read More »
• 16 September 2020 6:47 pm

  US Consumer Spending Slows in August

  

  Consumer spending in the United States slowed last month, according to data released on Wednesday. The value of overall sales increased 0.6%. Retail sales, excluding automobiles, gasoline, building materials, and food services, decreased by 0.1% in August, after rising by 0.9% in July, as per the reading revised from a …

  Read More »
• 16 September 2020 6:34 pm

  US Homebuilder Confidence Surges to All-Time High

  

  Homebuilder confidence in the United States increased to a record high in September, data showed on Wednesday. The NAHB/Wells Fargo Housing Market Index (HMI) went up by five points to a record high of 83 in September. This comes amid historically low mortgage rates due to the COVID-19 pandemic.

  Read More »
• 16 September 2020 6:31 pm

  US Business Inventories Rise for First Time in 2020

  

  Business inventories in the United States rose in July, for the first time in 2020, data showed on Wednesday. Business inventories increased by 0.1% in July, after decreasing by 1.1% in June, according to the US Department of Commerce. Retail inventories grew by 1.2%, while wholesale inventories fell by 0.3%.

  Read More »
• 16 September 2020 6:08 pm

  Turkish Lira Hits New Record Low Against US Dollar

  

  The Turkish lira weakened to a record low against the dollar on Wednesday as concerns about the economic outlook continue, while investors await the decision of the Fed. The Turkish currency touched record low 7.5020 and beyond this week, as Moody’s downgrade of Turkey’s credit rating to “B2” from “B1”. …

  Read More »
• 16 September 2020 5:37 pm

  Canada’s CPI Stays Unchanged at 0.1%

  

  Inflation in Canada, as measured by the Consumer Price Index (CPI), stayed unchanged at 0.1% on a yearly basis in August, the data published by Statistics Canada revealed on Wednesday. This reading came in lower than the market expectation of 0.4%. On a monthly basis, the CPI dropped to -0.1% …

  Read More »
• 16 September 2020 5:17 pm

  US Retail Sales in August Increase by 0.6%, 1% Expected

  

  Retail Sales in the United States rose by 0.6% on a monthly basis in August to $537.5, the data published by the US Census Bureau revealed on Wednesday. This reading followed July’s increase of 0.9% (revised from 1.2%) and missed the market expectation of 1%.

  Read More »
• 16 September 2020 4:38 pm

  USD/JPY fell to a 7-week low Near Psychological level 105.00

  

  USD/JPY fell to a 7-week low during the European session with the bears now waiting for some selling below the psychological level of 105.00. The pair had witnessed some heavy selling for the third consecutive session on Wednesday, amid the selling bias around the US dollar. Although the Federal Reserve …

  Read More »
• 16 September 2020 3:42 pm

  OPEC+ compliance in August seen at 101%

  

  The OPEC and its allies (OPEC+) saw its compliance with oil output cuts policy reach 101% last month, Reuters reports, citing two sources with knowledge of the matter. The sources told Reuters that the compliance figure may be adjusted at the meeting of the committee. The OPEC+ is scheduled to …

  Read More »
• 16 September 2020 2:23 pm

  Eurozone Trade Surplus Rises Year on Year in July

  

  Data showed that the Eurozone’s unadjusted trade surplus jumped year on year in July, as imports fell further with exports amid an economic slowdown caused by the COVID-19 pandemic. The European Union statistics office Eurostat said that the trade surplus of the 19-country Eurozone countries with the rest of the …

  Read More »
• 16 September 2020 2:12 pm

  Gold Stable, Eyes on Fed Meeting

  

  Gold prices rose on Wednesday, September 16th, thanks to the dollar’s decline, as investors awaited the outcome of a meeting of the Federal Reserve (US Central Bank) in search of details of the bank’s plans to balance interest rates against its inflation target. Gold rose in the spot market 0.2% …

  Read More »