Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 7 August 2020 5:18 pm

  US Dollar Index Struggles to Keep 93.00 Post NFP

  

  The US dollar index, which measures the greenback’s against a group of major currencies, remains on the buying bias unchanged around 93.00 on Friday, and the index retreated from its daily gains to 93.30 and drops to test the 93.00 area as it lacked momentum after the US NFP report. …

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• 7 August 2020 5:12 pm

  Canada: Unemployment Rate Falls to 10.9% in July

  

  Net Change in Employment in Canada rose by 418,500, compared to analysts’ estimate of 400,000, in July and brought the Unemployment Rate down from 12.3% in June to 10.9% in July, Statistics Canada reported on Friday. Underlying details of the publication revealed that the Participation Rate improved from 63.8% to …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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