Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 3 September 2020 10:21 am

  Japan’s Services PMI Fell to 45 in August

  

  Japanese service activity contracted at a rapid pace last month, dropping the service purchasing managers’ index to 45.0 in August from 45.4 in July. The Japanese service activity was affected by the uncertainty and weak demand surrounding the business sector due to the Corona pandemic.

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• 3 September 2020 1:45 am

  Daily Recap: Wednesday, September 2, 2020

  

  The US Dollar (USD) showed strong recovery signs on Wednesday from near its lowest level in two years on the back of strong economic data in the US, coupled with the decline of the Euro with a surprise decline in German retail sales, and the Sterling Pound, with the British …

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• 3 September 2020 1:30 am

  Fed’s Beige Book Highlights Uncertainty and Volatility

  

  Although economic activity increased among most areas across the United States, gains remained subdued, with the economy yet to restore its levels prior to the coronavirus (COVID-19) pandemic, according to the US Federal Reserve Beige Book. The Beige Book report, which was released on Wednesday, showed that with the real …

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• 3 September 2020 12:57 am

  NYSE Logs Highest Gains in a Week

  

  The New York Stock Exchange (NYSE) registered its biggest gains in a week on Wednesday, supported by positive economic data that signaled a strong recovery from the COVID-19 crisis. Additionally, news about vaccine and treatments for the virus helped boost investors’ sentiment and the risk appetite. The Dow Jones Industrial …

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• 3 September 2020 12:34 am

  US Treasury Yields Show Mixed Signs on USD Recovery

  

  US Treasury yields mostly declined on Wednesday, amid a rise of the US Dollar (USD) on the back of positive economic data. Return on the 10-year Treasury notes decreased by 2.2 basis points to 0.650%. Yields on the 30-year bond fell by 5 basis points to 1.375%. Meanwhile, return on …

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• 3 September 2020 12:05 am

  Oil Prices Close Lower Despite Stockpiles Draw

  

  Oil prices declined on Wednesday, despite a decrease in crude inventories in the United States, as production in the Gulf of Mexico recovers from the impacts of Hurricane Laura. Brent crude futures for November delivery closed lower by $1.15, or 2.5%, at $44.43 per barrel. Meanwhile, the US West Texas …

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• 2 September 2020 11:46 pm

  Gold Settles Lower as USD Recovers

  

  Gold prices closed Wednesday lower, amid a recovery of the US Dollar on the back of positive economic data coupled with the Euro and the British Pound simultaneous declines. Gold futures for December delivery declined by $34.20, or 1.7%, and settled at $1,944.70 per ounce. Meanwhile, silver futures finished lower …

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• 2 September 2020 11:22 pm

  GBP/USD Declines on BoE Dovish Tone

  

  The British Pound (GBP) is trading lower against the US Dollar (USD) on Wednesday, with the USD rising on the back of strong manufacturing data with surging PMI and factory orders. Meanwhile, the GBP is impacted by recent remarks by policy makers in front of the House of Commons Treasury …

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• 2 September 2020 11:14 pm

  UK Economy Facing Several Risks Due to COVID-19

  

  The British economy is facing a risk of taking several years before recovering from the impacts of the coronavirus (COVID-19) crisis, according to member of the Bank of England’s (BoE) Monetary Policy Committee, Gertjan Vlieghe. Vlieghe remarks came on Wednesday in a report presented to the British parliament, Reuters reported. …

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• 2 September 2020 10:45 pm

  European Stocks Close Higher Despite Negative Data

  

  European stocks closed higher on Wednesday, despite a surprise fall in retail sales in Germany, amid an improved risk appetite and investors sentiment with recent surges in Wall Street. The Stoxx Europe 600 finished higher by 1.66%, while the UK’s FTSE100 gained 1.35%. In France, the CAC40 index increased by …

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• 2 September 2020 8:38 pm

  Dollar Extends Gains as Euro Declines

  

  The US Dollar (USD) is showing a strong performance against major currencies on Wednesday, supported by strong economic data. The US Dollar Index (DXY), which measures the performance of the USD against a basket of six international currencies, is up by 0.50% at 92.80, after closing Tuesday at 92.34. This …

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• 2 September 2020 7:54 pm

  Sholz: European Economy Will Recover from COVID-19

  

  Germany’s Minister of Finance, Olaf Scholz, said on Wednesday that the European economy will recover from the impacts of the COVID-19 crisis, but might face some hardships in the near term, Reuters reported. “Europe has dealt with a historic challenge and has provided a very good response, has shown solidarity …

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• 2 September 2020 7:31 pm

  US Factory Orders Rise More than Expected

  

  New factory orders in the United States rose by more than expected in July, according to data by the US Department of Commerce. Factory orders increased by 6.4% in July, while a recent poll by Reuters forecast a growth of 6%. The indicator signals a strong recovery from the coronavirus …

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