Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 2 September 2020 1:02 am

  Gold Settles Marginally Higher

  

  Gold prices closed higher on Tuesday despite giving up some of its earlier higher gains, with the US Dollar (USD) recovering from from its lowest level in nearly two years on the back of strong manufacturing activity data. Gold futures for December delivery finished marginally higher by 30 cents, or …

  Read More »
• 1 September 2020 10:32 pm

  EUR/USD Reverses Earlier Gains

  

  The Euro (EUR) turned to decline against the US Dollar (USD) after rising earlier today to its highest level since 2018. The EUR/USD pair is trading lower by 0.15% for the day at 1.1918. Earlier today, the pair reached the 1.2011, exceeding the 1.2 mark for the first time in …

  Read More »
• 1 September 2020 9:36 pm

  Brainard: Fed Must Move from Stabilization to Accommodation

  

  The United States Federal Reserve must shift its policy in the coming months to provide the needed support to the economy amid the COVID-19 pandemic, the Fed Administrative Governor, Lael Brainard, said on Tuesday, as reported by Reuters. “It will be important to provide the requisite accommodation to achieve maximum …

  Read More »
• 1 September 2020 9:21 pm

  BREXIT Transition to End on Time

  

  The United Kingdom (UK) government sees no prospect for extending the transitional period for BREXIT negotiations. The transition or the implementation period ends on 31 December 2020, however, talks for a new trade agreement between London and the European Union (EU) have recently stalled with a number of disagreements. The …

  Read More »
• 1 September 2020 8:16 pm

  European Stocks Show Mixed Performance

  

  European stocks closed lower on Tuesday, after giving up its earlier gains amid a mixed performance, continuing to move within a mostly tight range. The Stoxx Europe 600 index closed lower by 0.38%, after rising earlier today by as much as 0.8%. The UK’s FTSE100 plunged by 1.7%, and the …

  Read More »
• 1 September 2020 7:54 pm

  CAD Maintains Gains Against USD

  

  The Canadian Dollar (CAD) is maintaining some of its gains against the US Dollar (USD) on Tuesday. The CAD is up by 0.04% against the USD, after rising earlier by more than 0.1% to its highest level against the greenback in eight months. The Canadian Dollar is supported by improved …

  Read More »
• 1 September 2020 7:44 pm

  Safe Haven Currencies Decline

  

  Safe haven currencies, namely the Japanese Yen (JPY) and the Swiss Franc (CHF) are showing a weak performance on Tuesday, amid decreased demand with improved risk appetite supported by news of new COVID-19 vaccine and treatments. The CHF is leading the decline with its highest losses coming against the New …

  Read More »
• 1 September 2020 7:07 pm

  US Construction Spending Rises in July

  

  Construction spending in the United States marginally increased during July, as shown by the data of the US Department of Commerce on Tuesday. Construction spending rose by 0.1% in July. Meanwhile, the June reading was revised to a 0.5% decline. Private construction spending grew by 0.6%, while spending on residential …

  Read More »
• 1 September 2020 6:13 pm

  US: Markit Manufacturing PMI Improves to 53.1 in August

  

  The IHS Markit’s Manufacturing Purchasing Managers’ Index (PMI) for the US improved from 50.9 in July to 53.1 in August to show that the economic activity in the manufacturing sector continued to expand at a robust pace. This reading came in slightly weaker than the previous estimate and the market …

  Read More »
• 1 September 2020 6:04 pm

  Canada: PMI Climbs to 55.1 in August

  

  The economic activity in Canada’s manufacturing sector expanded at a stronger pace in August than it did in July with the IHS Markit’s Manufacturing PMI rising to 55.1 from 50.4. This reading beat the market expectation of 50.4. “Latest data highlighted a strong upturn in the Canadian manufacturing industry, continuing …

  Read More »
• 1 September 2020 6:00 pm

  Nasdaq Opens at a Record High

  

  The Nasdaq index, which is full in technology stocks, reached a record high at the open today, Tuesday, after Apple shares rose and following positive data for the manufacturing sector in China and Europe, which raised an atmosphere of optimism ahead of the US factory activity figures. The Nasdaq rose …

  Read More »
• 1 September 2020 5:00 pm

  Eurozone Unemployment Continues to Tick Up

  

  The unemployment rate has risen again in the Eurozone as the impact of the Coronavirus pandemic is still. Official figures put the unemployment rate in the region at 7.9% for July. This comes after the Eurozone recorded an unemployment rate of 7.7% in June. The numbers draw a worsening picture …

  Read More »
• 1 September 2020 4:53 pm

  UK Manufacturing Production Grows at Fastest Rate For Six Years

  

  A survey showed that factory production in Britain compensated for some of the losses caused by the Covid-19 pandemic, as it rose in August at the fastest pace in more than six years. The IHS Market/CIBS Manufacturing Purchasing Managers’ Index rose to 55.2 in August from 53.3 in July, broadly …

  Read More »