Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 16 July 2020 11:25 am

  New Car Sales Drop in Europe

  

  Industry data showed on Thursday that European car sales fell in June compared to last year, although they showed an improvement since May we ease of Covid-19 and lockdown measures  Statistics of the European Automobile Manufacturers Association (ACEA) showed the registration of new cars in June decreased by 24.1% YoY …

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• 16 July 2020 10:56 am

  Shares Fall in Asia, Ignoring Data

  

  Asian shares and US stock futures fell on Thursday, due to concerns about the trade tension between the United States and China and the economic cost of the Covid-19 waves. MSCI’s broadest index of Asia-Pacific shares outside Japan fell by 1.18%, while Tokyo’s Nikkei fell 0.74%. Shares in China fell …

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• 16 July 2020 10:32 am

  UK Unemployment Rate Beats Estimates

  

  Data published by the Office of National Statistics (ONS) showed that the UK official unemployment rate remained unchanged at 3.9% posted in May while the number of claimants count change fell unexpectedly last month. The number of people claiming jobless decreased by 28.1K in June, compared to expectations for +250K …

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• 16 July 2020 10:15 am

  FX Option Expiries For July 16 NY Cut

  

  FX option expiries for July 16 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1320 519m1.1350 2.0bn1.1400 853m1.1435 570m1.1450 712m1.1550 880m – GBP/USD: GBP amounts         1.2510 369m  – USD/JPY: USD amounts          107.25 576m107.30 556m107.35 410m – AUD/USD: AUD amounts 0.6980 563m – NZD/USD: NZD …

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• 16 July 2020 1:00 am

  Wall Street Closes Higher on COVID-19 Near Vaccine

  

  The New York Stock Exchange (NYSE) closed higher on Wednesday, supported by positive news about the development of a vaccine for the coronavirus disease (COVID-19). In addition, the US Federal Reserve’s Beige Book showed that economic activity increased in almost all districts across the United States. The Dow Jones Industrial …

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• 16 July 2020 12:38 am

  Oil Gains 2% Despite OPEC+ Decision

  

  Oil prices settled higher on Wednesday after showing a mixed performance during the session, finding support from a decline in the United States crude oil inventories, according to data by the US Energy Information Administration (EIA). A major factor that impacted oil prices today was the expected OPEC+ agreement between …

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• 16 July 2020 12:18 am

  Fed: US Economy Remains Below Pre-COVID-19 Levels

  

  Economic activity in the United States increased in almost all districts, but remained well below where it was prior to the COVID-19 pandemic, according to the US Federal Reserve’s Beige Book, issued on Wednesday. “Consumer spending picked up as many nonessential businesses were allowed to reopen.” “Retail sales rose in …

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• 15 July 2020 11:45 pm

  Gold Settles Marginally Higher

  

  Gold prices increased on Wednesday, supported by a decline by the US Dollar (USD), and investors seeking safe havens. However, the yellow metal gains were capped by the stock markets rise due to positive sentiments surrounding news about positive results for a COVID-19 vaccine. Gold futures for August delivery rose …

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• 15 July 2020 11:37 pm

  Moderna Edges Closer to Developing COVID-19 Vaccine

  

  The stock of Moderna surged by as much as 18% on Wednesday as the company announced positive results for a coronavirus disease (COVID-19) vaccine that it is developing and is currently under clinical trials. In phase one of the clinical trials, there were positive immune responses in all 45 cases …

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• 15 July 2020 10:58 pm

  Apple No Longer Has to Pay EUR 15 B to EU

  

  The European Union’s (EU) General Court has ruled in favor of Apple Inc. in an appeal against the European Commission’s decision in 2016 to impose a fine of EUR 13 billion ($14.9 billion) due to tax evasion, CNBC reported. The decision was based on the premise that the government of …

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• 15 July 2020 10:47 pm

  European Stocks Close Wednesday Higher

  

  European stocks closed Wednesday on big gains, supported by positive sentiments after it was reported that new progress has been made on the way to develop a vaccine for the coronavirus disease (COVID-19). The pan-European Stoxx 600 index rose by 1.76% and settled at 373.87. FTSE100 surged by 1.83% and …

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• 15 July 2020 10:41 pm

  Logan: Fed Doesn’t Evaluate Market Based on Yields

  

  The US Federal Reserve does not measure market functioning based on the level of the Treasury bond yields, said Lorie Logan, executive vice president in the Markets Group of the Federal Reserve Bank of New York. Logan, who also serves as the manager of the System Open Market Account (SOMA) …

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• 15 July 2020 9:46 pm

  Harker: Forward Guidance is Vital to Market

  

  President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said in a TV interview with Bloomberg that the Fed should maintain interest rates until the inflation target is achieved. “We’ve been saying for a long time that the 2% inflation goal is symmetric, which means we should overshoot it. …

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