Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 14 July 2020 1:41 pm

  German ZEW Misses Estimates

  

  Data released on Tuesday showed that the German ZEW Economic Sentiment Index came in at 59.3 versus 60.0 expected and 43.4 last. While the sub-index Current Conditions figure arrived at -80.9 in July compared to -65.0 expected and -83.1% previously recorded. Meanwhile, the Eurozone ZEW economic sentiment for July came …

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• 14 July 2020 12:48 pm

  UK Manufacturing Production Rebounds

  

  Data published by the Office for National Statistics (ONS) showed that the general situation in the industrial sector improved for May in UK. Manufacturing production grew to + 8.4% on a monthly basis in May, against expectations of -20.9% and -24.4% in April, while total industrial output grew by + …

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• 14 July 2020 12:27 pm

  China’s Imports Rise For First Time Since The Pandemic

  

  China’s imports rose in June for the first time since the pandemic. Demand for goods rose on the government stimulus while exports also increased in a sign the recovery is gaining strength. Customs data showed on Tuesday that China’s imports increased by 2.7% in June compared to last year, market …

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• 14 July 2020 11:50 am

  US Dollar Index Near 96.60 Ahead of CPI

  

  DXY is struggling to find direction in the 96.60 region, affected by the increase in the number of Corona cases and risk appetite. The US dollar index, which measures the strength of the greenback versus a basket of currencies, was moving around 96.60 in the European morning. The index attempts …

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• 14 July 2020 11:32 am

  China is Expected to Recover in Q2

  

  The Chinese economy is likely to return to recovery and record modest growth in Q2 after the contraction with the end of lockdown and the announcement of more stimulus, according to a Reuters poll. China is expected to post 2.5% growth in April-June compared to last year, posting a 6.8% …

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• 14 July 2020 11:21 am

  Nikkei Slightly Lower

  

  Japanese stocks closed the Asian session with a slight decline as the Nikkei 225 recorded a decline of 0.87% to 22,587.01.The highest level reached during the trading session was 22,677.02, while the lowest were 22,538.78. Meanwhile, the broader TOPIX index registered a decline of 0.50% or 7.87 towards 1,565.15.

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• 14 July 2020 10:42 am

  FX Option Expiries for July 14 NY cut

  

  FX option expiries for July 14 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1300 2.1bn1.1320 949m1.1325 1.1bn1.1350 1.1bn1.1400 615m – GBP/USD: GBP amounts         1.2500 257m1.2640 249m – USD/JPY: USD amounts          106.50 412m106.75 605m – NZD/USD: NZD amounts 0.6480 248m

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• 14 July 2020 10:41 am

  British GDP Less Than Expected

  

  UK GDP in May posted less than analysts’ expectations as data released by the Office for National Statistics on Tuesday showed that British gross domestic product rose1.8% in May, compared to a contraction of 20.3% in April. Analysts had expected the UK economy to grow by 5.5% in May. The …

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• 14 July 2020 2:19 am

  US Shale Oil Production Expected to Decline

  

  The US Energy Information Administration (EIA) is expecting a steep decline in the production of shale oil in the United States by 56,000 barrels per day (bpd) to around 7.49 million bpd next month. This would be the lowest of US shale oil production since August 2017. The next OPEC+ …

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• 14 July 2020 1:16 am

  Wall Street Mixed at Close

  

  The New York Stock Exchange (NYSE) indices showed a varied performance on Monday, as the Nasdaq and S&P 500 closed lower with some of Wall Street biggest tech names registering losses. The Dow Jones Industrial Average was able to close on marginal gains, rising by by 10.50    or 0.04%, at …

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• 14 July 2020 12:38 am

  Oil Settles Lower by 1%

  

  Oil prices declined on Monday as the rising number of COVID-19 cases are leading to concerns regarding demand recovery. Brent crude futures settled higher by 1.2% at $42.72 per barrel, while the US benchmark crude oil, West Texas Intermediate (WTI), futures closed down by 1.1% to $40.10 per barrel. An …

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• 13 July 2020 11:40 pm

  Gold Resumes Gains at Monday’s Close

  

  Gold prices rose on Monday after posting two consecutive declines, during which it was able to maintain the $1,800 level. Although the yellow metal did not yet restore its highest level in nine years, where it closed last Wednesday, gold futures for August delivery increased by $12.20, or 0.7%, and …

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• 13 July 2020 11:29 pm

  Euro Surges Across the Board

  

  The Euro (EUR) has surged against major currencies during Monday’s trading, supported by the decline of the US Dollar (USD). A highly anticipated meeting for the European Central Bank (ECB) is set to take place on Thursday, while on Friday the European Union Leaders will discuss the COVID-19 crisis stimulus …

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