Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 2 September 2020 6:15 pm

  US Extends Some Tariff Exemptions to China

  

  The Trump administration’s threat of escalation against China came this time in disguise with seemingly positive news. The office of the US Trade Representative announced the extension of the deadlines for some exemptions from customs duties on a large group of Chinese goods. But this extension is until the end …

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• 2 September 2020 5:33 pm

  Germany Revises Upward 2020 GDP Forecast to -5.8%

  

  The worst is over for Germany … and the government response helped it recover faster than expected from the shock of the Coronavirus … statements made by Economy Minister Peter Altmaier while presenting the updated forecasts for his country’s economy in 2020. Altmire said that the recession in the first …

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• 2 September 2020 5:10 pm

  Russia’s Novak: Will Propose OPEC+ React to Recovery in Global Oil Demand

  

  Russian Energy Minister Alexander Novak said that global oil demand has recovered by a large rate, up to 90% from pre-pandemic levels, adding that Moscow will propose to the OPEC+ group to take a response to this trend within the framework of the global agreement to reduce oil production. Novak …

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• 2 September 2020 4:34 pm

  Private Payrolls Grow by 428,000

  

  Employment in the US’ private sector rose by 428,000 in August below the market expectation of 950,000, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday.  Big business dominated job creation, as firms with more than 500 employees added 298,000 workers. Medium-sized businesses were …

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• 2 September 2020 3:55 pm

  GDP to Drop Over 8% in 2020-Gualtieri

  

  Italian Economy Minister Roberto Gualtieri said that the country’s GDP will shrink by slightly more than 8%, stressing that production in Q3 will record a “strong recovery.” The Office for National Statistics said last week that the economy witnessed a record contraction of 12.8% in Q2 compared to the previous …

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• 2 September 2020 3:33 pm

  Dollar Extends Gains After Manufacturing Data

  

  The dollar extended gains made last night after positive US manufacturing data, while the Australian dollar took a hit when gross domestic product data on Wednesday confirmed that the country was experiencing a recession for the first time in three decades. Manufacturing activity in the US increased more than expected …

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• 2 September 2020 2:52 pm

  Oil Rises on Hopes of Recovery

  

  Crude oil futures continued their gains Wednesday, September 2, after an exceed-expectations withdrawal from crude inventories in the United States and strong activity by American and Chinese factories fueled optimism about the recovery from the Coronavirus pandemic and boosted investors’ appetite for risk. Brent crude futures rose 45 cents to …

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• 2 September 2020 2:25 pm

  Gold Falls With The Rise of US Dollar

  

  Gold prices fell on Wednesday, September 2nd as the dollar rebounded after strong data for the US industrial sector supported hopes for a rapid global economic recovery, which made the yellow metal lose some of its appeals as a safe haven. Gold spot fell 0.4% to 1962.63 dollars an ounce …

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• 2 September 2020 1:53 pm

  European Shares Open Higher After losses in 4 Sessions in a Row

  

  European shares opened higher on Wednesday, September 2, after suffering losses for four consecutive sessions, while the media and entertainment sector recovered from the large losses recorded in the previous session. The European Stoxx600 index rose 1.1% in early trade, after losing more than 2% over the past four sessions. …

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• 2 September 2020 1:01 pm

  German Retail Sales Fall Unexpectedly in July

  

  German retail sales declined in July, missing economists’ expectations of an increase Data released by the German Statistics Office on Wednesday showed that German retail sales fell by -0.9% during the month of July, compared to a decline of -1.9% in the previous June. On the year, retail sales rose …

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• 2 September 2020 12:49 pm

  Russia’s Production of Oil And Gas Condensate Increased by 5% in August

  

  Russia’s production of oil and gas condensate rose 5% in August to 41.7 million tons, or 9.86 million barrels per day, from 9.37 million barrels per day in July, Interfax news agency reported, citing data from the Russian Energy Ministry. The increase follows a decision by a group of oil-producing …

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• 2 September 2020 12:43 pm

  Crude Oil Futures Higher During Asian Session

  

  According to the New York Mercantile Exchange, crude oil futures for October were traded at $43.09 a barrel, up 0.77%. It was previously traded at a session high at $43.16 a barrel. Crude oil may find support at $42.36 and resistance at $43.57. The dollar index, which measures the performance …

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• 2 September 2020 12:39 pm

  Gold Futures Fell During Asian Session

  

  According to the COMEX, gold futures for December were traded $ 1971.20 per ounce, down 0.39%. It previously traded at a session low at $ 1965.80 an ounce. Gold may find points of support at $ 1914.70 and resistance at $ 2001.20. The dollar index, which measures the performance of …

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