Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 23 September 2020 8:44 pm

  Powell: Fed and Congress Need to Work Against COVID

  

  The United States Congress and the Federal Reserve need to work in order to help the American economy recover from the impacts of the COVID-19 crisis, said the Federal Reserve Chair Jerome Powell on Wednesday. Powell noted in his testimony in front of the House Select Subcommittee on the Coronavirus …

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• 23 September 2020 6:53 pm

  US Oil Stockpiles Fall Less Than Expected

  

  Crude oil inventories in the United States declined by 1.6 million barrels last week, according to data by the US Energy Information Administration’s (EIA) weekly report. The decline came below experts’ expectations of a 2.3 million barrel decrease in crude stockpiles.

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• 23 September 2020 6:07 pm

  US Markit Manufacturing PMI Edges Higher to 53.5

  

  The business activity in the US manufacturing sector is seen expanding at a robust pace in September with the IHS Markit’s advanced Manufacturing PMI rising from 53.1 in August to 53.5. This reading came in better than the market expectation of 53.2. Further details of the publication revealed that the …

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• 23 September 2020 5:24 pm

  US Housing Price Index Up 0.1% in July

  

  The Housing Price Index (HPI) in the US rose 1% in July, the Federal Housing Finance Agency’s (FHFA) monthly report showed on Wednesday. This reading matched June’s reading (revised from 0.9%) and came in higher than the market expectation of 0.5%. Earlier in the day, the Mortgage Bankers Association (MBA) …

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• 23 September 2020 4:35 pm

  Oil is Rising Near $ 42, All Eyes on Libya and US Stocks

  

  Oil prices rose to about $ 42 a barrel on Wednesday, September 23, after a report said that US fuel stocks declined, but the increase in crude oil supply and the high number of cases of Coronavirus, which increases concern about demand faltering limited the gains. The American Petroleum Institute …

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• 23 September 2020 3:48 pm

  German Cabinet Approves Draft Budget for 2021, EUR96.2 B in New debt

  

  A German government official said on Wednesday, the Cabinet approved a draft budget for next year, as proposed by the Finance Minister Olaf Scholz. The budget sets aside a net new debt of EUR96.2 billion euros or $112.43 billion to offer further financial support to cushion the impact of the …

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• 23 September 2020 3:16 pm

  Euro Falls to Its Lowest Level in Two Months

  

  The euro fell to its lowest level in two months, Wednesday, September 23, after positive economic data from the United States and concerns about the second wave of Coronavirus infections combined with weak European indicators to support the rise of the dollar. The US currency rose to $ 1.1671 against …

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• 23 September 2020 2:10 pm

  European Stocks Continue to Recover, Adidas is Jumping

  

  European stocks continued their recovery on Wednesday, September 23, from the heavy selling witnessed earlier this week, as investors awaited the latest data on business activity to see whether the economic recovery faltered as several countries re-impose restrictions related to the Coronavirus. The European Stoxx600 index rose 0.7% by 0712 …

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• 23 September 2020 1:43 pm

  Oil Falls After a Sudden Increase in US Stocks

  

  Oil prices fell by more than 1% on Wednesday, September 23, after data reported that US crude inventories rose unexpectedly, renewing concerns about fuel demand, which caused heavy selling earlier in the week. By 0641 GMT, Brent crude futures fell 33 cents, or 0.8%, to $ 41.39 a barrel. US …

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• 23 September 2020 12:56 pm

  UK Preliminary Manufacturing PMI ME Estimates With 54.3

  

  The UK manufacturing and services sector activities showed mixed performance in September, the preliminary report from IHS Markit showed this Wednesday.  The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) dropped to a two-month low of 54.3 in September versus 54.3 expected and 55.2 – August’s final reading. …

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• 23 September 2020 12:28 pm

  Eurozone Preliminary Manufacturing PMI rises to 53.7

  

  The Eurozone manufacturing sector activity continued to improve this month, the latest manufacturing activity survey from IHS/Markit research showed on Wednesday. The Eurozone Manufacturing purchasing managers index (PMI) improved from 51.7 in August to 53.7 in September above 51.9 expectations while the Services PMI dropped to 47.6 in September vs. …

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• 23 September 2020 12:26 pm

  Crude Oil Futures: Outlook Remains Neutral/Bearish

  

  Traders increased their open interest positions by around 5.6K contracts on Tuesday, extending the erratic performance seen as of late in light of flash data from CME Group. On the other hand, volume resumed the downside and shrunk by around 182.1K contracts. Prices of the barrel of WTI charted an …

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• 23 September 2020 12:22 pm

  China Says it Will Boost Investment in Strategic Industries

  

  China has said it will invest in strategic industries, including key technology sectors such as 5G networks, artificial intelligence and chips. The National Development and Reform Commission said China will speed up the development of new materials to ensure stable supply chains for the aircraft industry, microelectronics and deepwater mining …

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