Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 2 September 2020 12:49 pm

  Russia’s Production of Oil And Gas Condensate Increased by 5% in August

  

  Russia’s production of oil and gas condensate rose 5% in August to 41.7 million tons, or 9.86 million barrels per day, from 9.37 million barrels per day in July, Interfax news agency reported, citing data from the Russian Energy Ministry. The increase follows a decision by a group of oil-producing …

  Read More »
• 2 September 2020 12:43 pm

  Crude Oil Futures Higher During Asian Session

  

  According to the New York Mercantile Exchange, crude oil futures for October were traded at $43.09 a barrel, up 0.77%. It was previously traded at a session high at $43.16 a barrel. Crude oil may find support at $42.36 and resistance at $43.57. The dollar index, which measures the performance …

  Read More »
• 2 September 2020 12:39 pm

  Gold Futures Fell During Asian Session

  

  According to the COMEX, gold futures for December were traded $ 1971.20 per ounce, down 0.39%. It previously traded at a session low at $ 1965.80 an ounce. Gold may find points of support at $ 1914.70 and resistance at $ 2001.20. The dollar index, which measures the performance of …

  Read More »
• 2 September 2020 11:38 am

  API: Crude Stocks Fell by More Than 6 M Barrels

  

  American Petroleum Institute data released showed a decline in US inventories of crude oil and fuel in the latest week. Crude inventories fell 6.4 million barrels for the week ending August 28 to about 501.2 million barrels, while analysts expected a decline of 1.9 million barrels. Crude stocks at the …

  Read More »
• 2 September 2020 11:34 am

  Japan Stocks Rise on Hopes For US Economy

  

  Japanese stocks rose on Wednesday, September 2, after positive data for the manufacturing sector in the United States revived hopes that the global economic recovery from the Covid-19 pandemic remained on track. Nikkei closed up 0.47% to 23,247.15 points, while TOPIX index rose 0.47% to 1623.40 points. Stocks also received …

  Read More »
• 2 September 2020 11:29 am

  FX Option Expiries For Sept 2 NY Cut

  

  FX option expiries for Sept 2 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1875 929m  – USD/JPY: USD amounts          105.55 829m105.75 465m106.00 581m106.50 1.1bn – USD/CAD: USD amounts         1.3225 1.1bn – NZD/USD: NZD amounts 0.6750 211m

  Read More »
• 2 September 2020 10:38 am

  Mnuchin: Economy Urgently Needs Additional Financial Incentives to Fully Recover

  

  US Treasury Secretary Stephen Mnuchin said the economy desperately needs additional financial incentives to fully recover from the Covid-19 crisis, and Mnuchin added that parts of the economy still need additional support. Minuchin held Democrats in the House and Senate in Congress responsible for the failure of negotiations on a …

  Read More »
• 2 September 2020 2:18 am

  Russian Central Bank May Cut Rates Again

  

  The Central Bank of Russia could soon cut interest rates once more to cope with the hardships of the COVID-19 crisis and the inflation risks, according to a market poll reported by Reuters. The move would strengthen the Russian Rouble (RUB) as Moscow aims at restoring economic recovery next year …

  Read More »
• 2 September 2020 1:27 am

  NYSE Closes Higher and Breaks Two New Records

  

  The New York Stock Exchange (NYSE) closed higher on Tuesday, supported by positive economic data that showed a rebound in the manufacturing sector. The Dow Jones Industrial Average increased by 215.61 points or 0.8% and closed at 28,645.66 points. S&P 500 gained 26.34 points or 0.8% and finished at a …

  Read More »
• 2 September 2020 1:11 am

  Oil Settles Higher on Strong Economic Data

  

  Oil prices closed Tuesday higher as positive data for the manufacturing sector in the United States and Canada improved the energy demand outlook. The global benchmark Brent crude futures for November delivery finished higher by 30 cents, or 0.7%, at $45.58 per barrel. Meanwhile, the US West Texas Intermediate (WTI) …

  Read More »
• 2 September 2020 1:02 am

  Gold Settles Marginally Higher

  

  Gold prices closed higher on Tuesday despite giving up some of its earlier higher gains, with the US Dollar (USD) recovering from from its lowest level in nearly two years on the back of strong manufacturing activity data. Gold futures for December delivery finished marginally higher by 30 cents, or …

  Read More »
• 1 September 2020 10:32 pm

  EUR/USD Reverses Earlier Gains

  

  The Euro (EUR) turned to decline against the US Dollar (USD) after rising earlier today to its highest level since 2018. The EUR/USD pair is trading lower by 0.15% for the day at 1.1918. Earlier today, the pair reached the 1.2011, exceeding the 1.2 mark for the first time in …

  Read More »
• 1 September 2020 9:36 pm

  Brainard: Fed Must Move from Stabilization to Accommodation

  

  The United States Federal Reserve must shift its policy in the coming months to provide the needed support to the economy amid the COVID-19 pandemic, the Fed Administrative Governor, Lael Brainard, said on Tuesday, as reported by Reuters. “It will be important to provide the requisite accommodation to achieve maximum …

  Read More »