Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 6 July 2020 7:50 pm

  Boston Fed: Main Street Program Ready to Go

  

  The Main Street Lending Program is now operational and ready to purchase eligible loans, said the Federal Reserve Bank of Boston on Monday. The Fed branch in Massachusetts encouraged lenders to start submitting qualifying loans, Reuters reported. Members of the US Federal Reserve Board have agreed to use all of …

  Read More »
• 6 July 2020 7:31 pm

  US Non-Manufacturing PMI Displays Recovery in June

  

  The US non-manufacturing services sector activity showed a strong recovery during June, nearing a return to its levels before the COVID-19 pandemic. The ISM Non-Manufacturing Purchasing Managers’ Index (PMI) for June increased to 57.1, compared to its reading in May at 45.4, and an expected reading of 50.1. This is …

  Read More »
• 6 July 2020 7:06 pm

  IHS Markit: US Services Sector Showing Softer Contraction

  

  Seasonally adjusted IHS Markit US Services Business Activity Index registered 47.9 at the end of the second quarter (Q2) of 2020. This comes after the index recorded a reading of 37.5 in May, thus, showing a softer rate of contraction in business activity across the US. The IHS Markit Composite …

  Read More »
• 6 July 2020 6:26 pm

  Uber to Acquire Postmates in $2.65 B Deal

  

  Uber Technologies announced that it plans to buy Postmates for a price of $2.65 billion, Reuters reported. The ride-hailing app developer aims to expand its footprints in the food-delivery business. Uber recently considered acquiring Grubhub, a US-based online food delivery company that entered last month into an acquisition deal by …

  Read More »
• 6 July 2020 5:59 pm

  Bitcoin Rises After Two Sessions of Decline

  

  Bitcoin rose during today’s trading session, after falling for two consecutive sessions, which pushed the cryptocurrency to decline near the level of $ 8955, but quickly rose in recent hours by 3.1% to $ 9250 levels. The currency was in a raising wave close to $ 4000. The cryptocurrency is …

  Read More »
• 6 July 2020 5:23 pm

  EU Will Stand Firm Against Washington Over Trade Disputes

  

  The European Union will take decisive measures against the United States if it is unwilling to settle a long-standing dispute over aircraft with new business investigations, the European Trade Commissioner said on Monday. The history of this dispute dates back to 2004 over subsidies and support for European Airbus and …

  Read More »
• 6 July 2020 4:47 pm

  Trump Considering Executive Orders on China, Manufacturing And Immigration

  

  Chief of Staff Mark Meadows told reporters at the White House on Monday that the US President is considering executive orders targeting China, manufacturing and immigration, according to Reuters. “It’s dealing with a number of executive orders that may go all the way from dealing with some of the immigration …

  Read More »
• 6 July 2020 3:46 pm

  Eurozone Retail Sales Up in May

  

  Eurostat figures reported on Monday showed that sales in the Eurozone increased with the easing of lockdown in the countries of the region, which revived sales surprisingly after its collapse in March and April. Eurostat reported that retail sales in the Eurozone rose 17.8% in May compared to-9.9 in April, …

  Read More »
• 6 July 2020 3:21 pm

  Oil Jumps Despite Demand Concerns

  

  Brent crude rose during the Asian session and at the beginning of the European session on reliable economic data despite the increasing of Corona cases and its impact on oil demand. Brent crude futures rose to $ 43.42, or 1.43%, as US oil inventories fell more than expected last week, …

  Read More »
• 6 July 2020 2:27 pm

  Euro in Recovery Thanks to Germany

  

  Euro posted gains at the start of the European session on Monday; these gains come after reliable German data and coronavirus stimulus plan. The EUR/USD pair reached 1.1298 at 10:15 GMT, with an increase of 0.46%, while Euro rose against British pound to 0.904, by 0.35% German factory orders increased …

  Read More »
• 6 July 2020 2:07 pm

  Eurzone Sentix Investor Confidence at -18.2

  

  Data from Sentix Research Group showed on Monday that investor confidence in the Eurozone improved less than expected in July. The index rose to -18.2 in July from -24.8 in June compared to -10.9 expected. The gauge rises to -18.2 in July from -24.8 in June vs a reading of …

  Read More »
• 6 July 2020 1:01 pm

  Forex Today: Covid-19 Dominates The Market

  

  The markets were optimistic after headlines from China which gave optimism to share, the rise of Asian shares, in turn, raised the S&P 500, which affects USD and the safe haven. Coronavirus cases continue to increase at an alarming rate in US. US: GS is not optimistic about the US …

  Read More »
• 6 July 2020 12:24 pm

  UK govt: Considering The Impact of US Additional Sanctions Against Huawei on UK Networks

  

  According to Reuters, US sanctions designed to restrict the ability of China’s Huawei to source advanced microchips for 5G equipment is likely to have a significant impact on the reliability of the supplier, citing Britain’s culture minister on Monday. A review released by the UK’s National Cyber Security Centre (NCSC) …

  Read More »