Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 31 August 2020 3:40 pm

  Turkey’s Economy Contracted by 10% in Q2

  

  Data showed that Turkey’s economy shrank 9.9% in Q2 of the year, as the general lockdown due to the Coronavirus pandemic caused an almost complete halt of economic activities, representing the worst performance on an annual basis in ten years. According to the Turkish Statistical Institute, the decline in GDP, …

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• 31 August 2020 2:29 pm

  Dollar Drifts Toward Worst Aug in 5 Years

  

  The dollar is heading to record a loss for the fourth consecutive month after a shift in the US Federal Reserve’s policy on inflation, while the euro is poised to record a fourth month of gains, which puts the two currencies at levels not seen since 2018. Investors are adapting …

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• 31 August 2020 1:23 pm

  Gold Falling as US Dollar Decline Stops

  

  Gold reversed its trend to decline on Monday, August 31, as the dollar recovered some of its losses, despite the US Federal Reserve’s new policy framework, which indicates that interest rates will remain near zero for a longer time, has limited the losses of the yellow metal, which is considered …

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• 31 August 2020 12:50 pm

  European Shares Open Stronger on Oil Gains

  

  European stocks opened higher on Monday, August 31, as heavyweight oil and gas companies were supported by higher crude prices, while positive service sector data from China boosted optimism about an economic recovery. The Stoxx600 index of European shares rose 0.4% in early trading, consolidating the small gains made last …

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• 31 August 2020 12:12 pm

  Nikkei Rises on Hopes of Continuing Abe’s Policies

  

  Japanese stocks closed higher on Monday, August 31, recovering from heavy losses seen in the previous session, as concerns over the resignation of Prime Minister Shinzo Abe eased thanks to speculation that his potential successor will continue his current policies. The benchmark Nikkei Index rose 1.12% to 23,139.76 points, and …

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• 31 August 2020 10:51 am

  FX Option Expiries For Aug 31 NY Cut

  

  FX option expiries for Aug 31 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1750 536m1.1800 1.1bn1.1900 1.4bn  – GBP/USD: GBP amounts         1.3250 272m – USD/JPY: USD amounts          104.50 378m105.00 754m105.25 575m105.75 457m106.00 438m

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• 31 August 2020 10:47 am

  Weekly Recap 24-28 AUG

  

  Fed Chair Jerome Powell’s speech was what got most of the attention last week. Fed Chair’s comments included announcing a shift in monetary policy to support the labor market and the economy indicating that the Fed may keep low-interest rates for longer. The Dow Jones rose 0.6% to 28,653.8, posting …

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• 31 August 2020 10:19 am

  Chinese Manufacturing Activity Slowed in August

  

  Chinese manufacturing activity growth slowed this month, dropping to 51 points from 51.1 in July, as floods in southwest China disrupted production. With the recorded slowdown, however, Chinese manufacturing activity remained above 50 points, which is the separating point between expansion and contraction, which indicates that the Chinese economy continues …

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• 29 August 2020 2:03 am

  NYSE Settle Higher with Weekly Gains

  

  The New York Stock Exchange (NYSE) finished higher on Friday, extending their weekly and monthly gains. The Dow Jones Industrial Average closed higher by 161.60 points or 0.57% at 28,653.87, rising by 2.6% for the week. Meanwhile, the S&P 500 index finished at 3,508.01, after rising by 23.46 or 0.67%, …

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• 29 August 2020 1:57 am

  Oil Prices Close Lower and Limit Weekly Gains

  

  Oil prices settled lower on Friday, but recorded weekly gains mostly due to output disruptions in the Gulf of Mexico that resulted from Hurricane Laura. Brent crude futures for October delivery decreased by 4 cents, or 0.09%, and finished at $45.05 per barrel, rising by 1.6% for the week. The …

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• 28 August 2020 11:19 pm

  NZD/USD Leads Top Performing Pairs

  

  The New Zealand Dollar (NZD) expanded its gains on Friday, with most gains seen against the US Dollar (USD), following recent remarks by the US Federal Reserve that showed tolerance towards inflation going above the 2% target. This comes two week after the Reserve Bank of New Zealand (RBNZ) increased …

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• 28 August 2020 10:49 pm

  Gold Futures Finish Week in Gains

  

  Gold prices rose on Friday switching earlier weekly losses into gains. Gold futures for December delivery added $42.30, or 2.2%, and settled at $1,974.90 per ounce, rising by 1.4% for the week. Meanwhile, silver futures for December delivery increased by 59 cents, or 2.2%, to finish at $27.79 per ounce, …

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• 28 August 2020 9:53 pm

  US Merchandise Trade Deficit Hits Record High

  

  The United States merchandise trade deficit increased during July to its second-largest level on record, Bloomberg reported. As imports returned to their pre-COVID-19 levels, the deficit increased to $79.3 billion in July from a revised $71 billion in June, according to data by the Department of Commerce on Friday. Imports …

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