Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 9 September 2020 12:06 am

  Oil Finishes Below $40 per Barrel for First Time Since June

  

  Oil prices declined on Tuesday to its lowest level since June, amid concerns about the global demand outlook, despite reports of some major producers planning further output cuts. Brent crude futures for November delivery plunged by $2.23, or 5.3%, to settle at $39.78 per barrel. Meanwhile, the West Texas Intermediate …

  Read More »
• 8 September 2020 11:42 pm

  Dollar Extends Gains and Maintains Rally

  

  The US Dollar (USD) is maintaining its rising trend on Tuesday, extending its gains further amid the decline in the British Pound (GBP) on Brexit uncertainty and the Euro on the Eurozone’s economic contraction. The Dollar Index (DXY), which measures the performance of the USD against a basket of six …

  Read More »
• 8 September 2020 11:31 pm

  Gold Prices Reverse Earlier Losses to Settle Higher

  

  Gold prices rose on Tuesday, recovering from earlier losses to close at its highest level in about a week. The rise in the yellow metal prices came amid the decline in stock markets. Gold futures for December delivery increased by 0.31% or $8.90 and closed at $1,943.20 per ounce. Earlier …

  Read More »
• 8 September 2020 10:29 pm

  EUR/USD Maintains Downward Trend

  

  The Euro (EUR) is maintain its declining trend against the US Dollar (USD) on Tuesday, falling to its lowest level in front of the greenback in about two weeks. The EUR/USD pair is trading lower for the day by 0.29% at 1.1783 after falling as low as low 1.766 at …

  Read More »
• 8 September 2020 9:42 pm

  Juncker: No Deal Brexit is Most Likely

  

  Former President of the European Commission, Jean-Claude Juncker, believes that a no-deal Brexit is the most likely scenario in current talks between the United Kingdom and the European Union, CNBC reported. “The situation is not developing in the best direction possible.”“No deal is the most possible and probable and only …

  Read More »
• 8 September 2020 9:27 pm

  European Stocks Settled Lower

  

  European stocks closed lower on Tuesday, continuing with its fluctuating performance after opening the week with a rise during Monday’s session. The Stoxx Europe 600 fell by 1.14%, while the UK’s FTSE100 declined by 0.12%. Similarly, the German DAX index dropped by 1.01%, while the French CAC40 finished lower by …

  Read More »
• 8 September 2020 9:04 pm

  GBP Falls on Brexit Developments

  

  The British Pound (GBP) declined on Tuesday as negotiations between the UK government and the European Union are once again seeing complications. This is the fifth consecutive session in decline for the GBP, marking its longest downward trend since May. The UK Prime Minister, Boris Johnson, has reportedly threatened to …

  Read More »
• 8 September 2020 7:33 pm

  Russian Economy’s Contraction Seen Below 4%

  

  Russia’s Minister of Finance Anton Siluanov said on Tuesday that the Russian economy could contract by less than 4% in 2020, Reuters reported. This signals an improvement compared with previous forecasts, with signs of recovery from the COVID-19 pandemic and the drop in oil prices. Meanwhile, the debt-to-GDP ratio is …

  Read More »
• 8 September 2020 6:19 pm

  Nasdaq Index Drops 3% as Tech Stocks Turmoil Worsens

  

  The Nasdaq Index tumbled more than 3% at the open Tuesday, September 8th as investors sold shares of Tesla and other heavyweight technology companies, while sentiment was negatively affected by growing tension between the United States and China and concerns about a faltering economic recovery. The composite Nasdaq index fell …

  Read More »
• 8 September 2020 5:31 pm

  Japan: We Want to Reach a Comprehensive Trade Agreement With Britain This Week

  

  A Japanese government official said his country wants to reach a comprehensive deal with the United Kingdom on trade this week, indicating Tokyo’s desire to make progress on a bilateral trade pact before changing the government. Japan’s ruling party will choose a new leader next week to succeed Prime Minister …

  Read More »
• 8 September 2020 4:37 pm

  UK’s Lewis: Fully committed to Northern Ireland protocol and Withdrawal Agreement

  

  Brandon Lewis, UK’s Secretary of State for Northern Ireland, reiterated on Tuesday that they are fully committed to the Northern Ireland protocol and the Withdrawal Agreement. “We have always sought to honour international obligations.”“Overriding need to respect wishes of the Northern Irish public must be kept in mind.”“Our approach guarantees …

  Read More »
• 8 September 2020 3:40 pm

  Fitch Ratings Cuts Long-Term Oil Price Assumptions

  

  In its latest report, the US-based Fitch Ratings reduced its long-term price forecasts for both Brent and West Texas Intermediate (WTI) oil. Key points“The cut in the price forecast is to reflect large underutilized production capacities, the extended period of high oil inventory caused by the coronavirus pandemic, falling upstream …

  Read More »
• 8 September 2020 2:42 pm

  Eurozone GDP Recorded The Largest Decline in Q2

  

  The Eurozone economy contracted slightly below initial expectations in the Q2, but the decline remains the largest ever with the collapse in consumer demand due to COVID-19 restrictions. GDP fell 11.8% compared to the previous quarter, and by 14.7% year-on-year, according to data from the European Statistics Office Eurostat on …

  Read More »