Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 16 July 2020 8:20 pm

  Lagarde: EU Recovery Fund to Favor Loans

  

  The European Central Bank (ECB) is expecting the European Union (EU) to prefer grants over loans as a funding mechanism for its anticipated economic stimulus fund against the impacts of COVID-19, said ECB President Christine Lagarde, Reuters reported. “Our assumption is that the recovery fund will come about and will …

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• 16 July 2020 6:35 pm

  US Jobless Claims Register 1.3 M in Week

  

  A total of 1.3 million people have filed for unemployment benefits in the United States last week, according to data by the US Department of Labor on Thursday. The number beats market expectations of 1.25 million applications. However, the number showed a slight decline compared to the previous week, which …

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• 16 July 2020 6:29 pm

  US Retail Sales Up 7.5% in June

  

  Retail sales in the United Stated increased by 7.5% in June, beating market expectations, according to data by the US Department of Commerce on Thursday. The growth in retail sales is attributed to many businesses reopening, as restrictions against the coronavirus (COVID-19) were eased across many states. In May, retail …

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• 16 July 2020 6:01 pm

  Cryptocurrency in a Sea of Red

  

  The cryptocurrency market shook profoundly and drowned in red during the European session on Thursday, and many cryptocurrencies broke through the support levels, while Bitcoin approached the psychological barrier of $ 9000. Bitcoin was at $ 9,080, down 1.3% on a daily basis since the beginning of the day. The …

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• 16 July 2020 5:26 pm

  US: 1.3M Jobless Claims, Exceeding Estimates

  

  Labor Department data released on Thursday showed that the number of people making initial claims for unemployment benefits in the United States. The reading is slightly worse than the market expectation of 1.25M, but almost unchanged from last week’s reading at 1.310 million, revised from 1.314M previously reported. 4 week …

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• 16 July 2020 4:38 pm

  ECB Leaves Key Rates Unchanged

  

  At its monetary policy meeting held on July 16th, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as …

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• 16 July 2020 4:19 pm

  Data Releases Today

  

  The ECB rate decision on Thursday just came out. As expected, the central bank leaves the interest rates unchanged. Later today, we will be looking at the June retail sales report from the United States. It’s expected to post a 5.0% rise after a 17.7% rise in May.  We will …

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• 16 July 2020 3:34 pm

  China’s GDP Rebounds in Q2

  

  Official data released early in the morning showed that the Chinese economy witnessed a boom in the processes of reopening the economy and expanding in the post-Covid-19 period in Q2 with the expansion of the country’s manufacturing sector. Q1 annual GDP came in at + 3.2%, exceeding analyst expectations at …

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• 16 July 2020 2:54 pm

  IMF Chief Warns Global Economy ‘Not Out of The Woods’

  

  Global economic activity is picking up after an unprecedented decline this year due to the coronavirus pandemic, but a second major wave of infections could trigger more disruptions, IMF Managing Director Kristalina Georgieva said. “We are not out of the woods yet,” Georgieva said The International Monetary Fund had cut …

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• 16 July 2020 2:09 pm

  Gold Close to Session Lows Around $1805

  

  The yellow metal saw modest declines on Thursday and snapped the rally in 3 days. Gold fell during the European session and reached new daily lows around $ 1805-04 in the last hour. The metal failed to take advantage of this week’s rebound from the support area of ​​1790 and optimism …

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• 16 July 2020 1:33 pm

  China: Hopes Trade Deal Reached with US Can Still be implemented

  

  China said on Thursday that it hope to implement the first stage of the trade agreement it reached with the United States and stressed its willingness to abide by the agreement despite the recent US sanctions on Chinese officials and companies. Chinese Foreign Ministry spokeswoman Hua Chunying told reporters at …

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• 16 July 2020 12:55 pm

  European Stocks Lower on Us-China Tension

  

  European stocks fell from their highest levels in a month as the tension between the United States and China weakened hopes of a rapid global economic recovery. Europe’s STOXX 600 was down 0.9% at 0800 GMT and London’s FTSE 100 also fell 0.9%, both partially giving-up yesterday’s gains. Weak earnings …

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• 16 July 2020 12:04 pm

  Oil Prices Ease After OPEC + Decision

  

  Oil prices retreated after OPEC + agreed to taper record supply curbs from August, although the drop had received some bailouts from the rapid recovery of US demand after crude inventories fell in. Brent fell 33 cents, or 0.8%, to $ 43.46 a barrel, with WTI down 42 cents, or …

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