Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 6 July 2020 10:35 pm

  BoC: Businesses in Canada Expect Weak Demand

  

  The overall Business Outlook Survey indicator fell sharply, with most constituent indicators declining to levels well below their historical averages, according to the Bank of Canada (BoC) Business Outlook Survey for the summer of 2020. Businesses in Canada expect weakness in domestic and foreign demand due to the effects of …

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• 6 July 2020 9:55 pm

  Stability Foreseen for Copper Prices in Q3 and Q4

  

  Market experts are expecting copper prices to stabilize during the second half (H2) of 2020, despite the surge it saw in the second quarter (Q2) of the year, CNBC reports. The three-month copper futures are trading, on the London Metal Exchange (LME), above $6,000 per ton since the end of …

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• 6 July 2020 8:38 pm

  European Stocks Close Higher on Positive Data

  

  European stocks closed higher on Monday, supported by a positive sentiment among investors, thanks to economic data signaling a near recovery in the Eurozone. The pan-European STOXX Europe 600 gained 1.55% and closed at 371.09. In the London Stock Exchange, main index FTSE100 added 2.1%. Benchmark French index CAC40 increased …

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• 6 July 2020 7:50 pm

  Boston Fed: Main Street Program Ready to Go

  

  The Main Street Lending Program is now operational and ready to purchase eligible loans, said the Federal Reserve Bank of Boston on Monday. The Fed branch in Massachusetts encouraged lenders to start submitting qualifying loans, Reuters reported. Members of the US Federal Reserve Board have agreed to use all of …

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• 6 July 2020 7:31 pm

  US Non-Manufacturing PMI Displays Recovery in June

  

  The US non-manufacturing services sector activity showed a strong recovery during June, nearing a return to its levels before the COVID-19 pandemic. The ISM Non-Manufacturing Purchasing Managers’ Index (PMI) for June increased to 57.1, compared to its reading in May at 45.4, and an expected reading of 50.1. This is …

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• 6 July 2020 7:06 pm

  IHS Markit: US Services Sector Showing Softer Contraction

  

  Seasonally adjusted IHS Markit US Services Business Activity Index registered 47.9 at the end of the second quarter (Q2) of 2020. This comes after the index recorded a reading of 37.5 in May, thus, showing a softer rate of contraction in business activity across the US. The IHS Markit Composite …

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• 6 July 2020 6:26 pm

  Uber to Acquire Postmates in $2.65 B Deal

  

  Uber Technologies announced that it plans to buy Postmates for a price of $2.65 billion, Reuters reported. The ride-hailing app developer aims to expand its footprints in the food-delivery business. Uber recently considered acquiring Grubhub, a US-based online food delivery company that entered last month into an acquisition deal by …

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• 6 July 2020 5:59 pm

  Bitcoin Rises After Two Sessions of Decline

  

  Bitcoin rose during today’s trading session, after falling for two consecutive sessions, which pushed the cryptocurrency to decline near the level of $ 8955, but quickly rose in recent hours by 3.1% to $ 9250 levels. The currency was in a raising wave close to $ 4000. The cryptocurrency is …

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• 6 July 2020 5:23 pm

  EU Will Stand Firm Against Washington Over Trade Disputes

  

  The European Union will take decisive measures against the United States if it is unwilling to settle a long-standing dispute over aircraft with new business investigations, the European Trade Commissioner said on Monday. The history of this dispute dates back to 2004 over subsidies and support for European Airbus and …

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• 6 July 2020 4:47 pm

  Trump Considering Executive Orders on China, Manufacturing And Immigration

  

  Chief of Staff Mark Meadows told reporters at the White House on Monday that the US President is considering executive orders targeting China, manufacturing and immigration, according to Reuters. “It’s dealing with a number of executive orders that may go all the way from dealing with some of the immigration …

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• 6 July 2020 3:46 pm

  Eurozone Retail Sales Up in May

  

  Eurostat figures reported on Monday showed that sales in the Eurozone increased with the easing of lockdown in the countries of the region, which revived sales surprisingly after its collapse in March and April. Eurostat reported that retail sales in the Eurozone rose 17.8% in May compared to-9.9 in April, …

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• 6 July 2020 3:21 pm

  Oil Jumps Despite Demand Concerns

  

  Brent crude rose during the Asian session and at the beginning of the European session on reliable economic data despite the increasing of Corona cases and its impact on oil demand. Brent crude futures rose to $ 43.42, or 1.43%, as US oil inventories fell more than expected last week, …

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• 6 July 2020 2:27 pm

  Euro in Recovery Thanks to Germany

  

  Euro posted gains at the start of the European session on Monday; these gains come after reliable German data and coronavirus stimulus plan. The EUR/USD pair reached 1.1298 at 10:15 GMT, with an increase of 0.46%, while Euro rose against British pound to 0.904, by 0.35% German factory orders increased …

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