Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 1 September 2020 3:53 pm

  German Economy Minister: GDP Will Reach its Pre-Corona Level in 2022

  

  German Economy Minister Peter Altmaier said that the country’s gross domestic product will reach its level before the crisis of the Coronavirus outbreak in 2022, adding that he does not expect strict general isolation measures to be imposed in sectors such as retail or industry due to the pandemic.

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• 1 September 2020 3:39 pm

  Eurozone Inflation Turns Negative in August

  

  The inflation rate in the euro area turned negatively last month for the first time since May 2016, increasing the chances of the European Central Bank pumping more stimulus for higher prices that had not reached the target set for more than seven years. The annual inflation rate in 19 …

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• 1 September 2020 2:03 pm

  German Unemployment Falls in August

  

  The number of unemployed people in Germany decreased for the second month in a row in August, indicating that the job market in Europe’s largest economy is recovering after it was hit by the Coronavirus crisis. Data revealed. The Labor Office said the number of unemployed people adjusted for seasonal …

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• 1 September 2020 1:57 pm

  RBA Holds Rates Ahead of Data

  

  The Reserve Bank of Australia (RBA) kept the cash rate at a record low of 0.25%, a widely expected decision. The RBA first cut interest rates to their record low in March, with governor Philip Lowe saying the bank is unlikely to take rates any lower The Australian central bank …

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• 1 September 2020 1:51 pm

  Gold Rises to a Two-week High as US Dollar Falters

  

  Gold prices rose on Tuesday, September 1st, to their highest level in nearly two weeks, with the dollar retreating to its lowest level in several years amid betting that US interest rates will remain low for a longer period under the new US Federal Reserve policy framework. The gold spot …

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• 1 September 2020 12:46 pm

  European Stocks Open Higher Before Data

  

  European stocks opened higher on Tuesday, September 1 after recording slight gains in August, but sentiment was unstable ahead of important economic data likely to indicate an erratic recovery from the Coronavirus. The European Stoxx600 index rose 0.4% in early trade, supported by better-than-expected data for the industrial sector in …

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