Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 18 August 2020 1:19 pm

  Gold Futures: Room For Extra Upside

  

  Traders increased their open interest positions in Gold futures markets by almost 3.5K contracts at the beginning of the week, according to flash data from CME Group. Volume, in the same line, reversed three consecutive pullbacks and went up by around 57.4K contracts. Gold now targets the 2020 topsPrices of …

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• 18 August 2020 12:30 pm

  Russia’s Novak Tests Coronavirus Positive

  

  Ahead of the OPEC and its allies (OPEC+) JMMC meeting scheduled on Wednesday, Russian Energy Minister Alexander Novak was tested positive for coronavirus. However, the Russian media suggested that the minister will participate in the OPEC+ meeting online, via a video link.

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• 18 August 2020 12:27 pm

  Natural Gas Futures: Extra Pullbacks Appear Shallow

  

  CME Group’s advanced prints for Natural Gas futures markets saw open interest shrinking by around 6.3K contracts at the beginning of the week after two builds in a row. In addition, volume extended the erratic performance and went down by around 288.3K contracts. Natural Gas met resistance around $2.40/MMBtuPrices of …

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• 18 August 2020 11:19 am

  The Dollar is Falling Amid Anticipation of US Political And Economic Developments

  

  The dollar fell while commodity currencies rose Monday (August 17th) as investors welcomed the delay in reviewing the US-China trade agreement without compromising it. Early transactions in London witnessed limited movements in light of a state of caution following weak data and uncertainty at the beginning of a week that …

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• 18 August 2020 2:08 am

  Daily Recap: Monday, August 17, 2020

  

  In the first day of the week, the dollar maintained its losses, while gold continued its rally and made its biggest daily gains since April. Meanwhile, oil finished the session higher after fluctuating amid uncertainty regarding demand outlook, while the bitcoin rose to its highest level since July 2019. Forex: …

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• 18 August 2020 1:37 am

  Oil Recovers from Earlier Losses and Finishes Higher

  

  Oil prices closed higher on Monday, after showing a mixed performance due to geopolitical risks and rising concerns about demand recovery. The Brent crude futures for October delivery increased by 1.3% or 57 cents and settled at $45.37 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for September …

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• 18 August 2020 1:32 am

  Trump Vows to Create 10 M New Jobs

  

  The President of the United States, Donald Trump, has pledged on Monday to create 10 million jobs in 10 months, Reuters reported. “We will create tax credits for companies that bring jobs form China back to America,” Trump said during a campaign event.

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• 18 August 2020 1:06 am

  NYSE Mixed at Monday’s Close

  

  The New York Stock Exchange (NYSE) closed Monday mixed as the Dow Jones finished in losses, while the S&P closed in green, nearing its highest level ever, which was already achieved by the Nasdaq that broke yet another record by the end of today’s session. The Dow Jones Industrial Average …

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• 18 August 2020 12:05 am

  DXY Keeps the Downward Trend

  

  The U.S. Dollar (USD) is maintaining its losses on Monday, as the Dollar index (DXY), which measures the performance of the USD against a basket of six major currencies, is close to finishing down by 0.30% at 92.81. The USD biggest losses are against the Australian Dollar (AUD) with 0.55%, …

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• 17 August 2020 10:17 pm

  Gold Re-Approaches $2,000 Level

  

  Gold prices increased on Monday, maintaining its renewed upward trend with the highest daily rise since April 22, supported by the rising demand on safe havens. Gold futures for December delivery closed higher by $48.90 or 2.5% at $1.998.70 per ounce. A mostly-negative performance by the U.S. Dollar helped the …

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• 17 August 2020 9:16 pm

  Bitcoin at Highest Level in 11 Months

  

  Bitcoin surged on Monday to its highest level in more than a year, expanding its 2020 gains since the beginning of the COVID-19 crisis. The cryptocurrency increased by more than 4% to $12,424, its highest level since July 2019. Year-to-date (YTD), the price of the digital currency has increased by …

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• 17 August 2020 8:50 pm

  European Stocks Finish Higher

  

  European stocks finished higher on Monday after fluctuating throughout the first session of the week, due to rising political tensions and concerns regarding the COVID-19 pandemic. The Stoxx Europe 600 index added 0.41% or 1.5 points to settle at 369.57. In the UK, the FTSE100 index closed higher by 0.61%, …

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• 17 August 2020 8:10 pm

  U.S. Homebuilder Confidence Matches All-Time High

  

  Homebuilder confidence in the United States increased in August, for the third consecutive month, matching its record high, data showed on Monday. The National Association of Home Builders/Wells Fargo Housing Market Index (HMI) increased by 6 points to 78, exceeding market expectations and matching its all-time high, which was recorded …

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