Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 4 August 2020 10:25 pm

  AUD Rises Following RBA Statement

  

  The Australian Dollar (AUD) is rising across the board against major currencies, supported by the recent decision and policy statement by the Reserve Bank of Australian (RBA). As expected, the RBA maintained its main rate at 0.25%, a historically low rate, which aims to curb the effects of the COVID-19 …

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• 4 August 2020 9:08 pm

  European Stocks Close Lower

  

  European stocks settled lower on Tuesday, as the STOXX Europe 600 index declined by 0.17% to 363.03. DAX declined by 0.36% and IBEX35 dropped by 0.67%, as the shares of Bayer fell by 2.4%. Meanwhile, FTSE100 closed higher by 0.05%, as BP gained 6.5% after disclosing its financial results for …

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• 4 August 2020 8:39 pm

  BoE Expected to Cut Main Rate to 0% with Negative Rates Possible

  

  The Bank of England (BoE) is expected to reduce its key interest rate to 0% in November, as per a recent research report by the Bank of America, Bloomberg reported. The BoE plans a GBP 100 billion ($131 billion) extension to its asset purchase program until mid-2021. In addition, the …

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• 4 August 2020 7:38 pm

  Canada’s Manufacturing PMI Surges in July

  

  The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) registered 52.9 in July, up from 47.8 in June. This is the first time for the index to pass the 50-point mark in five months, due to the impacts of the COVID-19 pandemic. An improving customer demand as …

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• 4 August 2020 7:31 pm

  US Factory Orders Rise by 6.2% in June

  

  Factory orders in the United States increased by 6.2% during June, data by the US Department of Commerce showed on Tuesday. The rise in factory orders last month came in higher that initially expected, largely thanks to an 86.2% rise in motor vehicle and parts orders. In addition, transportation equipment …

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• 4 August 2020 7:19 pm

  Venture Fund to Invest $110 M in Cryptocurrencies

  

  Electric Capital venture fund raised $110 million from university endowments and other nonprofits to invest in cryptocurrencies, Bloomberg reported. The company has started with investing $35 million in cryptocurrencies like Bitcoin and Ethereum and blockchain projects. However, it seems the focus this time will be directed towards other crypto assets. …

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• 4 August 2020 6:01 pm

  GBP/USD Extends Daily Slide

  

  GBP / USD was marginally moving throughout the Asian session near 1.3080 and rose during European trading, but lost its strength after touching 1.3100 and came under intense downward pressure to reach 1.3023, recording losses of 0.37% during the day. Concerns about the second wave of Covid 19 and the …

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• 4 August 2020 5:31 pm

  Trump Says Coronavirus Under Control, ‘It is what it is’

  

  U.S. President Trump said Covid 19’s outbreak is under control. At least 155,000 people have died in the United States amid an incomplete response to the public health crisis. The American President continues to press for the reopening of American schools. “They are dying, that’s true,” he said. “It is …

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• 4 August 2020 5:10 pm

  US Stocks Set to Open Lower

  

  US equity markets should open lower on Tuesday after strong gains on Monday led by Nasdaq, which hit another record close. Dow Jones futures fell 44 points, or 0.2%, while the S&P 500 Index fell 0.3% and the Nasdaq 0.3%. Apple shares hit an all-time high on Monday, just a …

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• 4 August 2020 4:20 pm

  EUR/JPY Daily Gains Capped Around 125.00

  

  After briefly testing daily highs in the 125.00 area, EUR / JPY triggered a downward correction to the current 124.80 area to maintain modest gains so far. EUR / JPY reversed the weekly negative start and gained almost a full cent from Monday’s lows in the 124.00 area. Sentiment around …

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• 4 August 2020 3:14 pm

  Euro Resumes its Gains

  

  The Euro rose in Europe on Tuesday against a basket of global currencies, to resume its gains after two days of losses against the US dollar, again approaching the highest level in 26 months, taking advantage of the decline in USD. The Euro rose against the dollar by 0.4% to …

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• 4 August 2020 2:26 pm

  Gold Steady, Tensions Dominate

  

  Gold prices are witnessing stability on Tuesday near the levels of $ 1975 an ounce, after setting a new record yesterday at $ 1984.88 an ounce, while tensions between the United States and China continue alongside the statements issued by US President Trump. The US President accused the Tik Tok …

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• 4 August 2020 1:12 pm

  ECB’s Lane: Committed to Providing Stimulus Needed

  

  The European Central Bank (ECB) is committed to providing the support needed to boost the economic recovery, said Chief Economist Philip Lane on Tuesday. “There is some rebound in economic activity.” “But level of economic slack remains extraordinarily high.” “The outlook remains highly uncertain.” “Inflation outlook plays a central role …

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