Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 27 July 2020 2:15 pm

  EUR/GBP Keep Modest Gains Above 0.9100

  

  The EUR/GBP gained some momentum on Monday and built on a good bounce last week with the common currency receiving support from the European Recovery Fund Agreement. The EUR/GBP shade some gains around 20 points during the European session, just above 0.9100. the pair built on a good bounce last …

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• 27 July 2020 1:39 pm

  Nikkei Falls to Its Lowest Level in a Week And Half

  

  Japanese stocks fell to their lowest levels in a week and a half on Monday, as concerns about the deterioration of relations between China and the United States caused a negative shift in investor sentiment. The 225-issue Nikkei Stock Average lost 35.76 points, or 0.16%, from Wednesday to close the …

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• 27 July 2020 12:58 pm

  USDCHF Off Multi-Years Lows

  

  Concern about the high of COVID-19, and the worsening relations between the United States and China affected the pair. The upbeat mood on the market undermined the CHF as a safe haven and helped reduce further losses. It appears that the USDCHF pair has now entered a bearish consolidation phase …

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• 27 July 2020 12:21 pm

  German IFO Business Climate Index Beats Estimates

  

  The headline German IFO Business Climate Index came in at 90.5 in July, better than last month’s 86.2 while beating the consensus estimates of 89.3. Meanwhile, the Current Economic Assessment arrived at 84.5 points in the same month as compared to last month’s 81.3 and 85.0 estimated. On the other …

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• 27 July 2020 11:49 am

  European Stocks Seen Higher

  

  European stock markets opened higher on Monday, supported by signs of recovery from China, along with the continued corporate earnings season. However, it gave up some of those gains with negative news about COVID-19 cases and tensions between the United States and China. At 06:05 GMT, DAX futures in Germany …

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• 27 July 2020 11:07 am

  Gold Hits Record High, Stocks Mixed

  

  The yellow metal rose to all-time high on Monday as relations between the United States and China deteriorated, sparking demand for the safe metal while market sentiment was mixed ahead of more earnings reports. Gold rose 1.6% to a record $ 1.943 an ounce, exceeding its peak in September 2011 …

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• 27 July 2020 10:28 am

  China Reports 61 New Covid-19 Cases

  

  The National Health Commission of China said on Monday that it had recorded 61 new infections with the COVID 19 up from 46 the previous day, adding that it had detected the most significant number of local infections with the virus since early March. The commission said the new number …

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• 27 July 2020 9:49 am

  Weekly Recap 20-24 July

  

  Tensions between the world’s two largest economies, the United States, and China continues to increase next to increase in the number of new cases of Covid-19, particularly in the United States, all this cast a shadow over the markets as President Trump took some decisions related to China with accusations …

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• 25 July 2020 1:30 am

  Daily Recap: Friday, July 24, 2020

  

  The world economy is showing strong signs of recovery, according to recent PMI data from Europe and the US, however, the rising number of COVID-19 cases in the US and escalating political tensions between Washington and Beijing left a toll on stock markets and increased the demand for safe havens. …

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• 25 July 2020 12:51 am

  Wall Street Record Weekly Losses

  

  The New York Stock Exchange (NYSE) settled lower on Friday, recording weekly losses, impacted by the rising tensions between the US and China and the increasing number of COVID-19 cases in many states across the US. The Dow Jones Industrial Average lost 182.44 points or 0.7% and closed at 26,469.9, …

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• 25 July 2020 12:44 am

  WTO: Global Trade Was Hit by COVID-19

  

  A recent report by the World Trade Organization (WTO) showed that global trade was negatively impacted by the restrictions imposed against the coronavirus disease (COVID-19). The WTO previously estimated an 18% drop in trade around the world during the second quarter (Q2) of 2020. “Although the full impact of the …

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• 25 July 2020 12:31 am

  USD Maintains Losses with Rising Safe Haven Demand

  

  The US Dollar (USD) is trading lower against major currencies on Friday, with the market seeing rising demand for safe havens, in light of the escalating tensions between the US and China and the rising number of COVID-19 cases across many countries. The demand for safe haven, evident by gold …

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• 25 July 2020 12:12 am

  Oil Resumes Gains Despite Uncertainties

  

  Oil prices closed higher on Friday, ending a week of fluctuations due to a collection of upward and downward factors. From one side, demand seems to be in the recovery phase, hence, the recent OPEC+ agreement to raise output by 2 million barrels per day, in addition to other positive …

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