Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 25 August 2020 3:16 pm

  Germany’s Economy Contracted 9.7% During Q2

  

  Germany’s statistics office said the country’s economy contracted at a record pace of 9.7% in Q2 as consumer spending, corporate investment and exports collapsed due to Coronavirus. The office added that the economic downturn far exceeds what happened during the financial crisis more than a decade ago, and represented the …

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• 25 August 2020 1:36 pm

  Gold Stabilizes as Investors Await Speech of Fed

  

  Gold stabilized on Tuesday, August 25th, as the dollar’s decline led to offsetting the pressure caused by the rise of stocks, while investors were reluctant to form large positions before US Federal Reserve Chairman Jerome Powell’s speech this week. Gold settled at 1932.15 dollars an ounce by 05:12 GMT. Was …

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• 25 August 2020 12:48 pm

  US and Chinese Negotiators Agree to Work for Trade Agreement

  

  US and Chinese trade negotiators made a phone call about implementing the first-phase agreement between the two countries, and the two countries announced at the end of the talks that they had agreed to work for the success of the trade agreement. It is noteworthy that the two countries reached …

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• 25 August 2020 12:20 pm

  Crude Oil Futures Higher During Asian Session

  

  According to the New York Mercantile Exchange, crude oil futures for October were traded at $42.56 a barrel, up 0.14%. It was previously traded higher at $42.60 a barrel. Crude oil may find support at $41.46 and resistance at $42.96. The dollar index, which measures the performance of the greenback …

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• 25 August 2020 11:44 am

  Gold Futures Declined During Asian Session

  

  According to the COMEX, gold futures were traded in December at $ 1943.30 per ounce, up 0.21%. It previously traded at a session high $ 1943.95 an ounce. Gold may find points of support at $ 1916.60 and resistance at $ 1970.30. The dollar index, which measures the performance of …

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• 25 August 2020 11:11 am

  82% of US Oil Production Stopped Due to Storms

  

  Data released by the US Environmental Safety and Protection Bureau on Monday showed that oil and gas producers stopped 1.5 million barrels of oil production in the US coast in the Gulf of Mexico, or about 82% of total production, ahead of two consecutive storms this week. Producers have also …

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• 25 August 2020 10:41 am

  Coronavirus Update

  

  The number of confirmed coronavirus cases rose to 234,852 with a total of 9,277 deaths, as reported by the German disease and epidemic control center, Robert Koch Institute (RKI), on Tuesday. Cases increased by 1,278 in Germany on Tuesday versus Monday’s +711. The death count rose by 5, the tally …

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• 25 August 2020 10:40 am

  FX Option Expiries For Aug 25 NY Cut

  

  FX option expiries for Aug 25 NY cut at 10:00 Eastern Time, via DTCC, can be found below. – EUR/USD: EUR amounts 1.1650 722m1.1800 608m1.1850 1.1bn1.1900 529m – GBP/USD: GBP amounts         1.3000 315m – USD/JPY: USD amounts          105.00 740m105.25 1.4bn

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• 25 August 2020 1:05 am

  Wall Street Stocks Break New Records

  

  The New York Stock Exchange (NYSE) finished Monday in green, with market indices closing Monday on big gains, supported by positive news about COVID-19 treatments and vaccines. The Dow Jones Industrial Average closed higher by 1.4% at 28,308. S&P 500 gained 1% and reached its 16th record closing level in …

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• 25 August 2020 1:01 am

  Oil Prices Close Higher on Output Halts

  

  Crude oil prices settled higher on Monday, after weather conditions in the Gulf of Mexico limited output volumes of oil and natural gas. Brent crude futures for October delivery rose by 78 cents and finished at $45.13 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures closed higher by 28 …

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• 25 August 2020 12:07 am

  DXY to Finish on Marginal Gains

  

  The Dollar Index (DXY) that measures that performance of the US Dollar (USD) against a basket of six major currencies. The DXY is up by 0.08% for the day at 93.33, after closing last week at 93.25. The index’s daily range has been between 92.84 and 93.34. In the absence …

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• 24 August 2020 11:53 pm

  Gold Drops to Lowest Level in Month

  

  Gold prices dropped on Monday to their lowest level in about a month, with a decreased demand for safe havens and a rise in risk appetite amid positive news on COVID-19 vaccine and treatment. The yellow metal futures for December delivery fell by $7.80, or 0.4%, and finished at $1,939.20 …

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• 24 August 2020 9:58 pm

  EUR/GBP Rising Above 0.90

  

  The Euro (EUR) is trading higher against the British Pound (GBP) on Monday. The EUR/GBP is up by 0.23% for the day, trading at 0.90311. Recent market forecasts expect the pair to maintain the 0.90 range until a trade deal between the United Kingdom (UK) and the European Union (EU) …

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