Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 20 August 2020 1:51 am

  Wall Street Closes in Red Following Fed Minutes

  

  The New York Stock Exchange (NYSE) indices closed in red, after rising earlier in the session to new intraday record highs. The Dow Jones Industrial Average lost 85.19, or 0.31%, while S&P 500 closed lower by around 15 points or 0.44%, and the Nasdaq Composite finished lower by 0.57%. The …

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• 20 August 2020 1:37 am

  Bullard: Wall Street is Right with Record-Breaking Rises

  

  President of the Federal Reserve Bank of St. Louis, James Bullard, is expecting the US economy to shrink by 4% in 2020, however, he does not see recent hikes by Wall Street as contradictory to the economic outlook. “I think Wall Street has called this about right so far,” Bullard …

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• 20 August 2020 1:27 am

  Barkin: Uncertainty Negatively Affecting US Economy

  

  The US need to get the coronavirus under control to ensure business confidence and economic certainty, according to the President of the Federal Reserve Bank of Richmond, Thomas Barkin. The high levels of uncertainty are weighing on the economy, which still needs continued fiscal support, according to Barkin.

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• 20 August 2020 12:30 am

  Oil Continues to Struggle for Direction

  

  Oil prices closed lower on Wednesday after data showed a decline in the US crude inventories, which came below market expectations. Brent crude futures for October delivery declined by 9 cents, or 0.2%, and settled at $45.37 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for September delivery rose …

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• 20 August 2020 12:23 am

  Gold Settles Lower as USD Strengthens

  

  Gold prices declined on Wednesday and settled lower after two consecutive rises due to the US Dollar recovering from some of its recent losses against major currencies, supported by the release of the Federal Reserve latest meeting minutes. Gold futures for December delivery closed lower by $42.80, or 2.1%, at …

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• 20 August 2020 12:00 am

  London to Remain Europe’s Financial Center Despite Brexit

  

  Despite the Brexit, London is expected to maintain a big role in the European financial market, Reuters reported. It was expected that many company will leave the UK capital, thus, affecting the place of London as a global financial hub. However, it now seems that Frankfurt will not be making …

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• 19 August 2020 11:35 pm

  US Crude Inventories Falls by 1.6 M Barrels in Week

  

  Crude oil inventories in the United States decreased last week, according to data by the U.S. Energy Information Administration (EIA) on Wednesday. A decline of 1.6 million barrels was seen in oil stockpiles last week to a total of 512.5 million barrels. Although the decline was less than expected, it …

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• 19 August 2020 11:29 pm

  Banks Lead Gains in European Stock Markets

  

  European Stocks closed higher on Wednesday, as banking shares achieved high gains, boosted by some positive earnings reports and the record-breaking rises in Wall Street. Stoxx Europe 600 added 0.60%, while FTSE100 rose by 0.58%. CAC40 settled higher by 0.79%, and DAX finished on a 0.74% increase.

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• 19 August 2020 10:38 pm

  Fed: COVID Will Weigh Heavily on Economic Activity

  

  The Board of Governors of the US Federal Reserve has unanimously voted to maintain interest rates during the Federal Open Market Committee (FOMC) meeting on July 29. The meeting also authorized the Fed to undertake open market operations as necessary to maintain the federal funds rate in a target range …

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• 19 August 2020 8:51 pm

  Dollar Rises Ahead of FOMC Meeting Minutes

  

  The US Dollar (USD) is reversing its recent losses and showing a positive performance on Wednesday, ahead of the release of the Federal Reserve meeting minutes later today. The Dollar index (DXY), which measures the USD performance against a basket of six major currencies, is up by around 0.50% at …

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• 19 August 2020 7:16 pm

  Canada’s Wholesale Sales Expand in June

  

  Wholesale sales in Canada increased on a monthly basis during June, beating market expectations and restoring its level prior to the COVID-19 crisis. Seasonally adjusted data showed on Wednesday that Canadian wholesale sales grew by 18.5% in June, according to Statistics Canada. On an annual basis, wholesale transactions decreased by …

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• 19 August 2020 6:46 pm

  Canada’s CPI Rises 0.1% in July

  

  The Consumer Price Index (CPI) in Canada slowed during July, rising by 0.1% on an annual basis, data showed on Wednesday. The lower gasoline and air travel prices helped reduce the inflation rate last month. The inflation rate remains well below the central bank’s target.

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• 19 August 2020 6:41 pm

  OPEC+ JMMC Meeting is Scheduled Today, WTI Waiting for Data

  

  Today, Joint Ministerial Monitoring Committee (JMMC) meeting will likely be all about reviewing the bloc’s commitment to oil production curbs and assessing the compliance over the past two months. According to Reuters, July’s compliance of OPEC+ with oil output cuts was expected to reach 97%, down from 107% in June. …

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