Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 13 August 2020 5:38 pm

  Spain Says US Should Waive Tariffs on EU Goods

  

  Spanish Trade Minister Reyes Maroto said the United States should waive its tariffs imposed on European Union because the bloc has complied with all WTO rules regarding aircraft manufacturer Airbus. She added that the Spanish government rejects a US decision to keep the duties in effect on European Union goods. …

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• 13 August 2020 4:51 pm

  US Weekly Jobless Claims Fall Below One Million

  

  There were 963,000 Initial Claims for unemployment benefits in the US during the week ending August 8st, Labor Department revealed on Thursday, better than the market expectation of 1.1 million and it’s the first reading below 1 million since mid-March.

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• 13 August 2020 4:32 pm

  USD Continues to Decline on Rising Stocks

  

  The dollar fell to its lowest level in a week against a basket of currencies on Thursday, August 13th, while analysts pointed out that the reasons for the weakness lie in the solid performance of the stock market and the failure of additional stimulus to the US economy. After losing …

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• 13 August 2020 4:27 pm

  French Unemployment Rate Hits 37-Year Low

  

  Data from the National Institute of Statistics and Economic Studies in France showed that unemployment in the country fell to its lowest level in 37 years during Q2, as a downward trend that continued for several years was exacerbated by the general isolation measures imposed to confront the Coronavirus, which …

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• 13 August 2020 3:09 pm

  Facebook and Twitter Escalate War Against US Election Misinformation

  Online social media platforms have escalated their war against misinformation about the US election. Facebook has created a center to help users with polling resources, and Twitter has expanded the rules against misinformation about the mail and early voting. The move comes at a time when social media networks on …

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• 13 August 2020 1:24 pm

  Gold Rises on Increased Demand And Lower USD

  

  Gold rose Thursday, August 13th, thanks to the dollar’s decline, to record further gains above the critical $ 1900 level, after a sharp retreat earlier in the week from its highest levels ever. By 07:08 GMT, spot gold increased 0.6% to $ 1929.13 an ounce, after falling below $ 1900 …

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• 13 August 2020 1:16 pm

  IEA Sees Lower Oil Demand in 2020

  

  The International Energy Agency has revised its oil demand forecast for 2020 by 8.1 million barrels per day, warning that reducing air travel due to the Coronavirus will reduce global oil demand. The Paris-based International Energy Agency lowered its forecast for 2020 by 140,000 bpd to 91.9 million bpd, the …

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• 13 August 2020 12:11 pm

  European Stocks Falling Due to US Tariffs And Airbus dips

  

  European stocks halted a four-day winning streak on Thursday, with the US government imposing tariffs on Airbus and a host of other European commodities unchanged, while trading in a group of blue-chip stocks after the right to distribute cash left the British FTSE100 index down. The European Stoxx600 index fell …

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• 13 August 2020 11:27 am

  Oil Dropping After OPEC Report and US Inventories

  

  Crude oil prices fell Thursday, August 13, after OPEC said it expects demand for its oil to decline more than expected, although US government data showed a decline in inventories, indicating that demand is returning despite the Coronavirus pandemic. Brent crude fell eight cents to $ 45.35 a barrel by …

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• 13 August 2020 10:44 am

  Germany’s IFO: Companies See Business Return to Normalcy in 11 Months

  

  According to the latest survey of businesses conducted by Germany’s influential IFO institute, the firms in Eurozone’s economic powerhouse expect business to return to normalcy in an average of 11 months from the coronavirus crisis. “For companies in the services sector, that number is even higher, at 11.7 months.” “The …

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• 13 August 2020 9:50 am

  Gold Futures Rose During Asian Session

  

  According to the COMEX, gold futures were traded in December at $ 1943.55 per ounce, up 0.28%. It previously traded at a session high $ 1952.65 an ounce. Gold may find points of support at $ 1874.20 and resistance at $ 2089.20. The dollar index, which measures the performance of …

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• 13 August 2020 9:17 am

  FX Option Expiries For Aug 13 NY Cut

  

  FX option expiries for Aug 13 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1650 518m1.1700 1.6bn1.1725 602m1.1760 589m1.1775 521m1.1825 634m – USD/JPY: USD amounts          105.50 1.0bn106.00 1.1bn106.70 888m107.00 850m107.20 651m107.30 378m – GBP/USD: GBP amounts         1.3000 750m  – AUD/USD: AUD amounts 0.7100 1.2bn  – …

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• 13 August 2020 2:09 am

  Daily Recap: Wednesday, August 12, 2020

  

  Wednesday saw the Dollar resuming losses, while gold and oil returned to gains after a brief correction. Meanwhile, stock markets were not impacted by a rise in demand for safe havens, showing strong performance, supported by positive news about a COVID-19 vaccine. Here is a look at today’s top stories. …

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