Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 4 September 2020 1:08 am

  NYSE Closes Thursday on Huge Losses

  

  The New York Stock Exchange (NYSE) closed lower on Thursday, with technology stocks leading the decline. The Dow Jones Industrial Average dropped by 807.77 points, or 2.8%, to finish at 28,292.73. The S&P 500 index also plunged by 3.5% and closed at 3,455.06. Bearing the highest losses, the Nasdaq Composite …

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• 4 September 2020 12:57 am

  Oil Prices Close at Lowest Level in a Month

  

  Oil prices declined on Thursday, due to negative outlook for demand recovery from the effects of the COVID-19 pandemic. Brent futures for November delivery closed lower by 36 cents, or 0.8%, at $44.07 per barrel. This is the lowest closing level for the global benchmark crude oil futures since July …

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• 4 September 2020 12:23 am

  Gold Futures Down $6.90 at Close

  

  Gold prices closed lower on Thursday, falling to their lowest level in about a week. The yellow metal futures for December delivery settled lower by $6.90, or 0.4%, at $1,937.80 per ounce. This is the lowest closing level for gold futures since Thursday August 27. Meanwhile, silver futures for December …

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• 3 September 2020 11:31 pm

  Fed’s Evans Supports Inflation Going to 2.5%

  

  The President of the Federal Reserve Bank of Chicago, Charles Evans, has supported maintaining the current policy until inflation reaches 2.5%. “I’d be comfortable with inflation going up to 2.5% as long as we were trying to average off very low inflation rates.”“I think the way that we did it …

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• 3 September 2020 10:37 pm

  Fed’s Evans Expects Lowe Rate For Years

  

  The President of the Federal Reserve Bank of Chicago, Charles Evans, has called upon Congress to agree on another stimulus package to support the US economy amid the COVID-19 crisis. “Given my outlook, I expect this means highly accommodative monetary policy will be appropriate for some time to come.”“It is …

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• 3 September 2020 9:58 pm

  USD Awaits More Support from Employment Data

  

  The US Dollar (USD) is anticipating positive economic data to support its upward trend against major currencies. Recent manufacturing data helped the greenback, after data showed an increase in new factory orders as well as a surge in the sector purchasing managers’ index (PMI). However, the effects of the rising …

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• 3 September 2020 8:52 pm

  European Stocks Close Lower on Economic Data

  

  The European stocks closed Thursday lower, on the back of mixed economic data, reversing most of its gains on Wednesday. The Stoxx Europe 600 index closed lower by 1.40%, while the UK’s FTSE100 plunged by 1.52%. In Germany, the benchmark DAX index finished lower by 1.40%, while the French CAC40 …

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• 3 September 2020 8:37 pm

  Brexit Without Trade Deal Remains Strong Possibility

  

  There is more than a 30% chance for a no-trade deal Brexit, according to a recent report by JPMorgan, Reuters reported. The UK government reportedly sees no prospect for extending the transitional period for BREXIT negotiations, according to recent media reports. The transition or the implementation period ends on 31 …

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• 3 September 2020 8:28 pm

  Daly: No Need for Further Rate Cuts

  

  President of the Federal Reserve Bank of San Francisco, Mary Daly, said that there is no urgency to ease monetary policy. “I don’t see a pressing need in terms of a misalignment of expectations relative to our policy.”

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• 3 September 2020 7:48 pm

  Germany Avoiding New Debt Exceeding EUR 100 B

  

  Germany aims at avoiding its public debt going above EUR 100 billion next year, despite increased spending to face the impacts of the COVID-19 crisis, Reuters reported The German Minister of Finance, Olaf Scholz, reportedly plans the 2021 public budget with EUR 80 billion in new debts, however, the German …

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• 3 September 2020 7:36 pm

  Bailey Calls for Regulating Stablecoins

  

  Stablecoins and cryptocurrencies must be well regulated by market authorities, according to remarks by the Bank of England (BoE) Governor, Andrew Bailey, on Thursday. The comments, picked up by Reuters, showed a call for regulators to keep up with market developments in the digital payment domain. “If stablecoins are to …

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• 3 September 2020 5:52 pm

  Canada: International Merchandise Trade Deficit Expands to $2.5B

  

  Canada’s International Merchandise Trade Deficit widened to $2.5 billion in July from $1.6 billion in June, the data published by Statistics Canada revealed on Thursday. This reading came in largely in line with the market expectation. “Imports increased 12.7% in July, while exports rose 11.1%. The largest contributor to this growth for …

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• 3 September 2020 5:32 pm

  US: Unit Labor Costs Rise by 9% in Q2

  

  Unit Labor Costs in the nonfarm business sector rose by 9% on a yearly basis in the second quarter, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed a 12.2% increase in the first quarter and fell short of the market expectation of …

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