Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 20 July 2020 2:38 pm

  Gold Rises on Increased Covid-19 Cases

  

  Prices of the precious yellow metal rose during trading on Monday with weak USD, due to concerns about the increase in Covid-19 cases and its impact on the global economy, which kept the metal above the psychological level of $ 1,800/oz. Gold is currently trading at $ 1811.70/oz, recording an …

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• 20 July 2020 1:14 pm

  Eurozone Current Account Surplus Drops Further

  

  The current account surplus of the 19 European Union countries shrank to 7.95B Euros in May from 14.27 in April on a large outflow of secondary income, includes transfers between residents and non-residents. In the 12 months to May, the Eurozone current account surplus fell to 2.2% of GDP from 2.7% in the …

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• 20 July 2020 12:56 pm

  Europe Stocks Lower Amid Confusion Over EU Summit

  

  European stock markets fell on Monday, with disappointment stemming from evidence that Eurozone leaders are preparing to diminish agreement negotiations on the eurozone recovery fund to counter the pandemic, making it less effective than expected. The German DAX fell 0.4%, French CAC fell 0.6% and FTSE fell 0.8%. Five European …

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• 20 July 2020 11:33 am

  Germany’s Merkel Warns of Summit Failure on EU Recovery Fund

  

  German Chancellor Angela Merkel warned that EU leaders may not be able to reach an agreement on a stimulus plan to combat Covid-19 on Sunday as negotiations between leaders continue for a third day and tensions over the demands of rich countries escalate. “There is a lot of goodwill, but …

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• 20 July 2020 10:53 am

  Oil Falling, Covid-19 Escalating

  

  Oil prices retreated on Monday on tensions over a recovery in fuel demand, after Covid-19 cases rose worldwide. Brent crude fell 25 cents, or 0.6%, to $ 42.89 a barrel, while US crude oil (WTI) fell 0.5%, or 22 cents, to $ 40.37 a barrel. More than 14.5M people were …

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• 20 July 2020 10:32 am

  Asian Shares Are Down Before The European Summit

  

  Asian Shares were underperforming on Monday morning, with oil and copper weakening and the increase of Covid-19 cases driving the markets as they awaited Eurozone and US efforts to reach fiscal stimulus plans to combat the epidemic. MSCI’s broadest index of Asia-Pacific shares outside Japan fell 0.2%, erasing early gains …

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• 20 July 2020 10:09 am

  FX Option Expiries For July 20 NY Cut

  

  FX option expiries for July 20 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1300 550m1.1350 2.5bn1.1375 1.0bn1.1400 2.6bn1.1425 845m1.1450 617m1.1500 1.1bn – USD/JPY: USD amounts          107.00 476m

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• 20 July 2020 9:43 am

  Market Weekly Overview

  

  The return of tensions between Washington and Beijing was the centre of attention last week, with the increase in COVID-19 cases in the United States to unprecedented numbers, along with the tensions of the American presidential elections and doubts about Trump’s ability to win the upcoming polls amid the increasing …

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• 18 July 2020 2:43 am

  Fed Opens Main Street Program to NPOs

  

  The US Federal Reserve has opened its Main Street lending program to nonprofit entities, Reuters reported. The move allows healthcare, education, and social service organizations to receive funding from the Fed. “We have listened carefully and adapted our approach so that we can best support them in carrying out their …

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• 18 July 2020 2:36 am

  Former Fed Chairs Call for Extra Stimulus

  

  The two former chairs of the US Federal Reserve have warned that the pace of economic recovery could be slow and uneven, calling for a robust response from legislators to combat the COVID-19 pandemic and its impact, Reuters reported. Former Chair of the Federal Reserve, Janet Yellen, said that not …

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• 18 July 2020 1:13 am

  NYSE Ends Week in Gains

  

  The New York Stock Exchange (NYSE) saw a mixed performance on Friday, but recorded weekly gains despite the investors’ concerns as the number of COVID-19 cases across the US keep increasing. The Dow Jones Industrial Average settled lower for the second session in a row by 0.23%, narrowing its weekly …

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• 18 July 2020 12:50 am

  Oil Futures Settle Lower by 0.5%

  

  Oil prices declined on Friday, but settled nearly unchanged for the week, in the absence of major economic data and the continuing uncertainty regarding the recovery of both the demand for crude oil and the global economy at large. Earlier today, data by Baker Hughes showed that the number of …

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• 18 July 2020 12:21 am

  Gold Maintains Rising Streak for Sixth Week

  

  Gold prices settled higher on Friday by around $10, recording small weekly gains but stretching its upward trend for the sixth consecutive week. Today’s rise in the yellow metal’s prices were supported by the decline of the US Dollar. The price for Gold futures for August delivery increased by $9.70, …

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