Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 18 September 2020 12:16 am

  Oil Prices Finish Higher on OPEC+ Commitment

  

  Oil prices closed higher on Thursday, after OPEC+ expressed the importance of commitment to the output cuts. Brent crude futures for November delivery increased by $1.08, or 2.6%, and settled at $43.30 per barrel. The West Texas Intermediate (WTI) futures for October delivery finished higher by 81 cents, or 2%, …

  Read More »
• 17 September 2020 11:55 pm

  Gold Prices Declines Following Fed Statement

  

  Gold prices declined on Thursday after the Federal Reserve expressed intentions to maintain interest rates near 0% until 2023. Gold futures for December delivery declined by $20.60, or 1.1%, and finished at $1,949.90 per ounce. Meanwhile, silver futures for December delivery closed lower by 38 cents, or 1.4%, at $27.10 …

  Read More »
• 17 September 2020 9:13 pm

  European Stocks Close Lower Following Fed Decision

  

  European stocks closed lower on Thursday, one day after the US Federal Reserve vowed to maintain interest rates near 0% for around three years. The pan-European STOXX 600 index closed lower by 0.40%. Meanwhile, the UK’s FTSE100 declined by 0.47%, and the French CAC40 index fell by 0.69%. Likewise, the …

  Read More »
• 17 September 2020 8:27 pm

  DXY Down Hovering Above 93

  

  The US Dollar (USD) is declining on Thursday, one day after the release of the latest Federal Reserve policy statement. The Dollar index (DXY), which measures the performance of the USD against a basket of six major international currencies, is down by 0.13% for the day at 93.10. The index …

  Read More »
• 17 September 2020 5:46 pm

  Canada: ADP Employment Change Arrives at -205.4K in August

  

  Employment in Canada decreased by 205,400 July to August, the monthly data published by the ADP Research Institue revealed on Thursday. This reading missed the market expectation for an increase of 901,800 by a wide margin. Meanwhile, July’s print got revised from 1,149,800 to -523,000. Commenting on the data, “in …

  Read More »
• 17 September 2020 5:41 pm

  U.S. Unemployment Claims Held Steady at 860,000 Last Week

  

  The number of Americans filing for new unemployment benefits fell last week but remains stuck at extremely high levels as the labor market recovery slows and consumer spending slows down as the fiscal stimulus fades. The US Labor Department said that the total number of new applications for unemployment benefits, …

  Read More »
• 17 September 2020 5:04 pm

  Russian Energy Minister Urges OPEC + Members to Fully Adhere to the Production Agreement

  

  Russian Energy Minister Alexander Novak said in an opening speech to an OPEC + committee meeting via the Internet that he urged participants in the group’s oil production cut agreement to fully adhere to the pledged cuts. He also said that the monitoring committee should discuss the impact of the …

  Read More »
• 17 September 2020 4:34 pm

  UK: Will Ask Parliament to Use Powers in Internal Market Bill if EU Acts in Bad Faith

  

  In a statement published on Thursday, the UK government said that it will ask parliament to use powers in the Internal Market Bill if the European Union engages in a material breach of its duties of good faith or other obligations. “Examples of that would be an insistence that Great …

  Read More »
• 17 September 2020 3:29 pm

  World Bank Chief Economist Reinhart: The global Economic Recovery May Take 5 years

  

  The chief economist at the World Bank, Carmen Reinhart, said that the global economy’s recovery from the crisis caused by the Corona pandemic may take five years. “There will probably be a quick rebound as all the restriction measures linked to lockdowns are lifted, but full recovery will take as …

  Read More »
• 17 September 2020 3:24 pm

  Eurozone Consumer Prices Drop in August

  

  The European Union Statistics Office confirmed that consumer prices in Eurozone fell in August, driven by lower energy prices, but core inflation excluding those volatile elements also slowed sharply. The office said that inflation in the 19-nation Eurozone fell 0.4% month over month in August and fell to -0.2% year …

  Read More »
• 17 September 2020 3:17 pm

  BoE Keeps Interest Rates Unchanged at 0.1%

  

  The Bank of England decided to keep its monetary policy unchanged in interest rates, in line with expectations. The Bank of England’s monetary policy statement on Thursday showed that the bank decided to stabilize interest rates at 0.10%. Analysts had expected that the BOE would hold interest rates at 0.10%.

  Read More »
• 17 September 2020 2:09 pm

  An OPEC+ Committee Meets today in Light of Declining Oil Prices

  

  OPEC and its allies led by Russia will hold an online meeting today to discuss the extent of commitment to the agreed production cuts and demand trends in light of declining oil prices and the cooling prospects for economic recovery. The committee, which includes major producers including Saudi Arabia and …

  Read More »
• 17 September 2020 1:58 pm

  European Stocks Drop From Their Highest Level in a Month

  

  European shares fell from a one-month closing high on Thursday after a disappointing response to the US Federal Reserve’s pledge to keep interest rates low for a long time. By 07:10 GMT, the Stoxx600 index was down 1.1% and is on track to end a four-session winning streak. The Fed …

  Read More »