Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 2 September 2020 10:38 am

  Mnuchin: Economy Urgently Needs Additional Financial Incentives to Fully Recover

  

  US Treasury Secretary Stephen Mnuchin said the economy desperately needs additional financial incentives to fully recover from the Covid-19 crisis, and Mnuchin added that parts of the economy still need additional support. Minuchin held Democrats in the House and Senate in Congress responsible for the failure of negotiations on a …

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• 2 September 2020 2:18 am

  Russian Central Bank May Cut Rates Again

  

  The Central Bank of Russia could soon cut interest rates once more to cope with the hardships of the COVID-19 crisis and the inflation risks, according to a market poll reported by Reuters. The move would strengthen the Russian Rouble (RUB) as Moscow aims at restoring economic recovery next year …

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• 2 September 2020 1:27 am

  NYSE Closes Higher and Breaks Two New Records

  

  The New York Stock Exchange (NYSE) closed higher on Tuesday, supported by positive economic data that showed a rebound in the manufacturing sector. The Dow Jones Industrial Average increased by 215.61 points or 0.8% and closed at 28,645.66 points. S&P 500 gained 26.34 points or 0.8% and finished at a …

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• 2 September 2020 1:11 am

  Oil Settles Higher on Strong Economic Data

  

  Oil prices closed Tuesday higher as positive data for the manufacturing sector in the United States and Canada improved the energy demand outlook. The global benchmark Brent crude futures for November delivery finished higher by 30 cents, or 0.7%, at $45.58 per barrel. Meanwhile, the US West Texas Intermediate (WTI) …

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• 2 September 2020 1:02 am

  Gold Settles Marginally Higher

  

  Gold prices closed higher on Tuesday despite giving up some of its earlier higher gains, with the US Dollar (USD) recovering from from its lowest level in nearly two years on the back of strong manufacturing activity data. Gold futures for December delivery finished marginally higher by 30 cents, or …

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• 1 September 2020 10:32 pm

  EUR/USD Reverses Earlier Gains

  

  The Euro (EUR) turned to decline against the US Dollar (USD) after rising earlier today to its highest level since 2018. The EUR/USD pair is trading lower by 0.15% for the day at 1.1918. Earlier today, the pair reached the 1.2011, exceeding the 1.2 mark for the first time in …

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• 1 September 2020 9:36 pm

  Brainard: Fed Must Move from Stabilization to Accommodation

  

  The United States Federal Reserve must shift its policy in the coming months to provide the needed support to the economy amid the COVID-19 pandemic, the Fed Administrative Governor, Lael Brainard, said on Tuesday, as reported by Reuters. “It will be important to provide the requisite accommodation to achieve maximum …

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• 1 September 2020 9:21 pm

  BREXIT Transition to End on Time

  

  The United Kingdom (UK) government sees no prospect for extending the transitional period for BREXIT negotiations. The transition or the implementation period ends on 31 December 2020, however, talks for a new trade agreement between London and the European Union (EU) have recently stalled with a number of disagreements. The …

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• 1 September 2020 8:16 pm

  European Stocks Show Mixed Performance

  

  European stocks closed lower on Tuesday, after giving up its earlier gains amid a mixed performance, continuing to move within a mostly tight range. The Stoxx Europe 600 index closed lower by 0.38%, after rising earlier today by as much as 0.8%. The UK’s FTSE100 plunged by 1.7%, and the …

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• 1 September 2020 7:54 pm

  CAD Maintains Gains Against USD

  

  The Canadian Dollar (CAD) is maintaining some of its gains against the US Dollar (USD) on Tuesday. The CAD is up by 0.04% against the USD, after rising earlier by more than 0.1% to its highest level against the greenback in eight months. The Canadian Dollar is supported by improved …

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• 1 September 2020 7:44 pm

  Safe Haven Currencies Decline

  

  Safe haven currencies, namely the Japanese Yen (JPY) and the Swiss Franc (CHF) are showing a weak performance on Tuesday, amid decreased demand with improved risk appetite supported by news of new COVID-19 vaccine and treatments. The CHF is leading the decline with its highest losses coming against the New …

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• 1 September 2020 7:07 pm

  US Construction Spending Rises in July

  

  Construction spending in the United States marginally increased during July, as shown by the data of the US Department of Commerce on Tuesday. Construction spending rose by 0.1% in July. Meanwhile, the June reading was revised to a 0.5% decline. Private construction spending grew by 0.6%, while spending on residential …

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• 1 September 2020 6:13 pm

  US: Markit Manufacturing PMI Improves to 53.1 in August

  

  The IHS Markit’s Manufacturing Purchasing Managers’ Index (PMI) for the US improved from 50.9 in July to 53.1 in August to show that the economic activity in the manufacturing sector continued to expand at a robust pace. This reading came in slightly weaker than the previous estimate and the market …

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