Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 3 September 2020 7:36 pm

  Bailey Calls for Regulating Stablecoins

  

  Stablecoins and cryptocurrencies must be well regulated by market authorities, according to remarks by the Bank of England (BoE) Governor, Andrew Bailey, on Thursday. The comments, picked up by Reuters, showed a call for regulators to keep up with market developments in the digital payment domain. “If stablecoins are to …

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• 3 September 2020 5:52 pm

  Canada: International Merchandise Trade Deficit Expands to $2.5B

  

  Canada’s International Merchandise Trade Deficit widened to $2.5 billion in July from $1.6 billion in June, the data published by Statistics Canada revealed on Thursday. This reading came in largely in line with the market expectation. “Imports increased 12.7% in July, while exports rose 11.1%. The largest contributor to this growth for …

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• 3 September 2020 5:32 pm

  US: Unit Labor Costs Rise by 9% in Q2

  

  Unit Labor Costs in the nonfarm business sector rose by 9% on a yearly basis in the second quarter, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed a 12.2% increase in the first quarter and fell short of the market expectation of …

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• 3 September 2020 4:56 pm

  US Weekly Jobless Claims decline by 130,000

  

  There were 881,000 Initial Claims for unemployment benefits in the US during the week ending August 29th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 1,011,000 (revised from 1,006,000) and came in slightly better than the market expectation …

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• 3 September 2020 4:15 pm

  UK minister: Next Round of UK-US Trade Talks to Begin on September 8

  

  Britain will hold a new round of talks with the United States on a trade deal next week, Greg Hands, junior trade minister Greg Hands said on Thursday, adding that the government is in talks with the two major American parties ahead of the upcoming presidential elections. Britain gives priority …

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• 3 September 2020 3:44 pm

  Eurozone Services PMI Barely Expand in August

  

  Service activity in the Eurozone posted some decline in August, but remains within the expansion zone. Eurozone service activity barely expanded in August. The IHS Markit eurozone services PMI registered 50.5 in August versus 54.7 in July, slightly above the flash reading of 50.1 and over the 50 mark indicating …

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• 3 September 2020 3:15 pm

  France Launches a Stimulus of 100 Billion to Revive Economy

  

  France intends to spend 100 billion euros, equivalent to 118 billion dollars, to extricate its economy from a severe downturn caused by the Corona pandemic, indicating the renewed efforts made by President Emmanuel Macron to push a supportive reform schedule for companies. An official said ahead of the official launch, …

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• 3 September 2020 2:35 pm

  French Service Activity Less Than Expected

  

  The service activity index in the French economy extended growth in August less than expected, as data released by Markit on Thursday showed that the French services PMI came at 51.5 in August, compared to 57.3 in July. Analysts had expected 51.9 The Euro is trading at 1.1823, down about …

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• 3 September 2020 1:50 pm

  Eurozone Economic Recovery Lost Momentum in August

  

  A survey showed that the recovery of the Eurozone economy from its biggest downturn on record faltered in August as growth in the services sector dominating the bloc almost completely halted, suggesting that the long road to recovery is bumpy. Last quarter, the bloc’s economy shrank 12.1%, as the imposition …

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• 3 September 2020 1:25 pm

  China: We Will Respond to US Restrictions on Diplomats

  

  Chinese Foreign Ministry spokeswoman Hua Chunying said in a daily press briefing that Beijing will respond “by lawful means” to the new restrictions imposed by the United States on Chinese diplomats. Washington said it would require senior Chinese diplomats to obtain approval from the Foreign Ministry before visiting any university …

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• 3 September 2020 12:44 pm

  European Shares Open Higher Ahead of Services Sector Data

  

  European stocks rose on Thursday, September 3rd amid signs of global economic recovery and hopes for further stimulus measures, with all eyes focused on domestic services sector data likely to show continued growth. The European Stoxx600 index rose 0.8% in early trade, tracking a strong session in Asia after a …

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• 3 September 2020 12:05 pm

  Japan’s Nikkei Index Reaches Highest Level in 30 Years

  

  The Nikkei benchmark hit a six-month high Thursday, September 3 and its strongest in three decades in dollar terms, as hopes for more domestic and global economic stimulus boosted sentiment. The Nikkei Index rose 0.94% to 23,465.53 points, its highest closing level since February 21. In dollar terms, this index …

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• 3 September 2020 10:41 am

  US May Witness Largest Fiscal Deficit Since World War II

  

  A report issued by the Congressional Budget Office predicts that the US federal government budget deficit will reach 16% of GDP during 2020, the largest in the United States since the end of World War II in 1945. The bureau said the US public debt rate will exceed 100% of …

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