Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 18 August 2020 5:50 pm

  Canada Finance Minister Resigns Amid Friction With Trudeau

  

  Canadian Finance Minister Bill Morneau announced his resignation saying in a press conference that Canada is moving to the next stage of the struggle against the Coronavirus pandemic, and this currency may take many years in order to achieve economic recovery, and it is the right time now for a …

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• 18 August 2020 5:22 pm

  China Strongly Rejects US Measures Against Huawei

  

  China said it rejected the US crackdown on Huawei after the administration of US President Donald Trump announced it would tighten restrictions imposed on the company. During his daily press testimony, Chinese Foreign Ministry spokesman Zhao Lijian urged the United States to stop undermining confidence in Chinese companies. Zhao said …

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• 18 August 2020 5:19 pm

  Japanese Manufacturers’ Confidence Improved Slightly

  

  A Reuters Tankan survey of business confidence on Tuesday showed that Japanese manufacturers were less pessimistic in August than they had been in at least four months, but indicated only a slow recovery from the coronavirus pandemic. This highlights the mammoth task that policymakers face to pull the economy out …

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• 18 August 2020 3:24 pm

  Gold jumps 1% Surpassing $ 2,000

  

  Gold prices rose 1% to surpass the $ 2,000 mark on Tuesday, August 18, in light of the decline of the US currency to its lowest level in more than two years, and dealers ’focus on the minutes of the latest meeting of the US Federal Reserve scheduled for release …

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• 18 August 2020 3:09 pm

  US Dollar Near Its Lowest Level in Two Years

  

  The US dollar fell against a basket of major currencies for the fifth consecutive trading session Tuesday, August 18th, approaching its lowest level in two years under pressure from low bond yields and gloomy economic data in the US. The dollar has registered gains over the years, but the Coronavirus …

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• 18 August 2020 2:42 pm

  Oil Retreating After gains Due to Production Cuts

  

  Oil prices maintained most of last night’s gains, Tuesday, August 18, after the OPEC + group said that members had almost fully committed to the agreed production cuts to support prices amid a decline in fuel demand due to the Coronavirus pandemic. By 07:02 GMT, Brent crude was down 18 …

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• 18 August 2020 1:46 pm

  European Shares Drop Amid US-Chinese Tensions and Covid-19 Cases

  

  European stocks fell on Tuesday, August 18, as investors feared the escalation of US-Chinese tensions and the return of Coronavirus cases, which affected shares of companies sensitive to the economic cycle. The European Stoxx600 index fell 0.5% at 07:13 GMT, as banking, energy, insurance and auto stocks fell between 0.8 …

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• 18 August 2020 1:32 pm

  Nikkei Drops And Political Uncertainty Discourages Risk

  

  The Nikkei benchmark closed lower on Tuesday, August 18th, pulling away from the six-month peak it touched last week, as global political uncertainty led to risk aversion among investors. Nikkei lost 0.2% to 23,051.08 points, away from Friday’s 23,338 peak, the highest level since late February. The broader TOPIX index …

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• 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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