Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 12 August 2020 1:24 am

  EIA: U.S. Oil Production Seen at 11.26 M b/d in 2020

  

  The U.S. Energy Information Administration (EIA) said on Tuesday that it expects crude oil production in the United States to decline by 990,000 barrels per day (b/d) in 2020 to 11.26 million b/d. This implies a higher decline than what was forecasted last month, at 600,000 b/d. The EIA now …

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• 12 August 2020 12:32 am

  French PM Warns of COVID-19 Second Wave

  

  The French Prime Minister Jean Castex has warned that a second COVID-19 wave could be harder to contain, calling for collective efforts to reduce the rate of infections and face the pandemic, The PM expressed concerns that the general public is becoming careless. France reported 1,397 new COVID-19 confirmed cases …

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• 12 August 2020 12:22 am

  Fed’s Daly Warns Against Inequality Amid COVID-19 Fight

  

  The President of the Federal Reserve Bank of San Francisco, Mary Daly, has warned that the COVID-19 pandemic could widen gender and racial inequalities, Reuters reported. “We need to make sure that we reach back and ensure that everyone makes it through the pandemic, not just those who are fortunate …

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• 12 August 2020 12:14 am

  Gold Sees Biggest Decline in Seven Years

  

  Gold prices declined on Tuesday amid a strong correction wave, seeing its largest fall in more than seven years, since mid-April 2013. The losses of the yellow metal as stock markets around the globe flourished, supported by positive news about a vaccine for the coronavirus disease (COVID-19). Gold futures for …

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• 11 August 2020 10:21 pm

  UK Sees Largest Quarterly Fall in Employment in 11 Years

  

  The number of people in employment in the United Kingdom (UK) registered 32.92 million during the second quarter (Q2) of 2020, according to estimates by the British Office for National Statistics. This marked an increase of 113,000 people on an annual basis, but a decline of 220,000 on a quarterly …

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• 11 August 2020 9:53 pm

  US PPI Registers Highest Rise in 21 Months

  

  The Producer Price Index (PPI) in the United States recorded its highest monthly increase since October 2018, rising by 0.6% in July, data showed on Tuesday. The reading comes as double the expectations of a recent Reuters poll, and after the index declined by 0.2% in June. On an annual …

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• 11 August 2020 9:36 pm

  European Stocks Close on Large Gains

  

  European stocks settled higher on Tuesday with most of the market sectors showing a strong positive performance. The pan-European Stoxx 600 index and FTSE100 both closed higher by 1.7% each. Meanwhile, CAC40 and DAX gained 2.4% and 2.04%, respectively. It is worth noting that markets are anticipating the approval for …

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• 11 August 2020 9:20 pm

  How the Swiss Economy is Coping with COVID-19?

  

  The Swiss government’s economic support program has helped Switzerland avoid a wave of companies going bankrupt or out of businesses due to the implications of the coronavirus COVID-19 pandemic, according to a recent report by the KOF Swiss Economic Institute. The number of companies that went out of business actually …

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• 11 August 2020 5:57 pm

  Russia Announces The Development of a New Cryptocurrency Monitoring System

  

  Russia announced on Tuesday it began developing a new analytical tool to monitor major cryptocurrencies such as bitcoin and other cryptocurrencies, as part of the Russian government’s attempt to combat money laundering and terrorism using artificial intelligence. The new system is designed to track the movements of digital financial assets …

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• 11 August 2020 4:53 pm

  US: PPI Edges Higher to 0.3% in July

  

  The Producer Price Index (PPI) in the US for final demand rose from -0.2% in June to 0.6% in July, the data published by the US Bureau of Labor Statistics showed on Tuesday. On a yearly basis, the PPI edged up to -0.4% and came in higher than the market …

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• 11 August 2020 4:49 pm

  Gold Declining Rapidly while USD Maintains Gains

  

  Gold fell on Tuesday, August 11th, as a relative rise in the dollar against the rest of the currencies prompted some investors to profit-taking, which rose to a record high of $ 2,000 an ounce. Spot of gold fell 0.5% to 2017.53 dollars an ounce, retreating from a record high …

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• 11 August 2020 3:44 pm

  German Investor Confidence Improved in August

  

  The ZEW Institute reported on Tuesday that investor confidence in Germany improved more than expected in August, but indicated that experts are seeing the current conditions improve slowly. A survey of investor confidence in the economy rose to 71.5 from 59.3 in the previous month, far exceeding expectations of 58 …

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• 11 August 2020 3:34 pm

  Trump Says Considering Cutting Capital Gains Tax

  

  US President Donald Trump said he is considering reducing the capital gains tax in the United States, as well as reducing income taxes for middle-income families to help the US economy recover from the economic repercussions of the Coronavirus. “We’re … also considering a capital gains tax cut, which would …

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