Open Demo Account

Market Analysis

August, 2020

  • 7 August 2020 4:41 pm

    US Nonfarm Payrolls Up 1.8 Million in July

    Nonfarm Payrolls (NFP) in the US rose by 1.8 million in July, the data published by the US Bureau of Labor Statistics showed on Friday. This reading beat the market expectation of 1.6 million by a small margin and followed June’s print of 4,791,000. Further details of the publication revealed …

    Read More »
  • 7 August 2020 3:12 pm

    Germany’s IFO: Industrial Production to Rise in The Next Three Months

    laus Wohlrabe, Economist at Germany’s influential IFO institute, said on Friday, the industrial production is expected to increase in the coming three months. The German industrial sector is likely to continue to recover after the effects of the Covid-19 lockdowns. Wohlrabe noted: “The industrial sector is continuing to work its …

    Read More »
  • 7 August 2020 3:04 pm

    Russia Continues to Increase Fuel Oil Exports to US

    Data from Refinitiv Eikon and Traders showed that Russia continued to increase its fuel oil exports to the United States, rising 16% in July compared to June, to 1.078 million tons, and replacing crude oil supplies from Venezuela. Demand for Russian fuel oil is also supported by its attractive price …

    Read More »
  • 7 August 2020 2:04 pm

    America’s Service Sector Activity at 16 Month-high

    US service sector activity gained momentum in July as new purchase orders rose to a record high but hiring fell, supporting views that the labor market recovery is faltering amid an increase in new COVID-19 cases nationwide. The Institute of Supply Management said on Wednesday that its index of activity …

    Read More »
  • 7 August 2020 1:17 pm

    Gilead Sciences: We’ll Be Able to Make Enough Remdesivir in October

    Biotech company Gilead Sciences said it will be able to produce enough anti-coronavirus drug Remdesivir to meet global demand in October. In addition, Gilead said it plans to produce more than 2 million “treatment courses” for the drug by the end of the year, and expects to be able to …

    Read More »
  • 7 August 2020 11:55 am

    China’s Export Growth in July at Fastest Rate in 7 Months, Imports Falling

    China’s exports increased at the fastest pace in seven months in July, while imports declined, painting a mixed picture of the economy as it recovers from a slowdown sparked by the pandemic. Exports rose 7.2% from a year ago in July, the fastest pace since December, customs data showed, missing …

    Read More »
  • 7 August 2020 11:51 am

    Chinese Oil Imports Jumped 25% in July

    China’s imports of crude jumped 25% in July compared to a year ago, driven by the arrival of massive purchases that took place when prices collapsed in April and the customs clearance of some shipments delayed at ports in June. Data issued by the General Administration of Customs showed that …

    Read More »
  • 7 August 2020 11:44 am

    Saudi Arabia and Iraq Confirm Full Commitment to OPEC+ agreement

    Iraqi News Agency said on Friday that Saudi Arabia and Iraq have confirmed their full commitment to the OPEC + agreement. Iraq had said on Thursday that it would implement additional cuts to its oil production by about 400,000 barrels per day in August to compensate for excess production in …

    Read More »
  • 7 August 2020 11:39 am

    Crude Oil Futures Lower During Asian Session

    According to the New York Mercantile Exchange, crude oil futures for September were traded at $41.98 a barrel, up 0.07%. It was previously traded higher at $42.22 a barrel. Crude oil may find support at $39.58 and resistance at $43.52. The dollar index, which measures the performance of the greenback …

    Read More »
  • 7 August 2020 11:32 am

    FX Option Expiries for Aug 7 NY Cut

    FX option expiries for Aug 7 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1750 517m1.1850 1.1bn1.1900 1.5bn1.1925 594m1.2000 568m – GBP/USD: GBP amounts         1.3000 425m  – USD/JPY: USD amounts          104.25 388m104.50 400m105.00 481m105.50 792m105.80 750m106.00 485m107.00 668m – USD/CAD: USD amounts         1.3180 …

    Read More »
  • 7 August 2020 2:46 am

    Daily Recap: Thursday, August 6, 2020

    On Thursday, the USD continued its downward trend after briefly rising supported by positive employment data. Meanwhile, gold continues to make new historic levels, however, the stock market did not plummet on the rising demand for safe havens, as the Nasdaq broke its all time high closing level for the …

    Read More »
  • 7 August 2020 2:32 am

    Nasdaq Registers New Record High

    Wall Street closed higher on Thursday with the Nasdaq closing at a new all-time high, supported by a decline in the US jobless claims last week and anticipating a new stimulus package to be approved by Congress. The Dow Jones Industrial Average gained 185.5 points, or 0.68%, and settled at …

    Read More »
  • 7 August 2020 1:58 am

    Oil Prices Settle Lower Over Recovery Concerns

    Oil prices declined on Thursday, amid rising concerns about the prospects of economic recovery from the impacts of the COVID-19 pandemic. In addition, an increase in US natural gas inventories further pushed the worries for the recovery of the demand for energy. Brent crude futures for October delivery declined by …

    Read More »
This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends