Noor Trends News, Technical Analysis, Educational Tools and Recommendations

August, 2020

• 3 August 2020 11:58 pm

  Oil Adds Nearly 2% on Industrial Data

  

  Oil prices surged on Monday, supported by positive manufacturing and industrial data across the United States, Europe, and Asia. Brent crude futures rose by 63 cents or 1.5% to settle at $44.15 per barrel. Meanwhile, the U.S. benchmark West Texas Intermediate (WTI) crude futures rose by 74 cents or 1.8% …

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• 3 August 2020 11:29 pm

  USD Sees Strong Gains on Economic Data

  

  The U.S. Dollar Index (DXY), which measures the performance of the USD against a basket of six major currencies, registered strong gains on Monday. The gains of the USD came on the back of positive economic data that reflects an improvement in the American manufacturing sector and the US economy …

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• 3 August 2020 11:12 pm

  Gold Narrows Gains Due to Higher USD

  

  Gold prices rose on Monday, with increased demand for safe havens helping the yellow metal make its way to a new record high. Gold futures for December delivery rose by 0.3% to $1,992.10 per ounce, after trading as high as $2,009.50 per ounce. A strong performance by the US Dollar, …

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• 3 August 2020 10:46 pm

  US Manufacturing PMI Signals First Growth since February

  

  July saw an improvement in operating conditions of the manufacturing sector in the United States, the first since February due to the COVID-19 outbreak. Although growth was marginal, it stemmed from the first upturns in output and new orders for five months, as client demand picked up. The seasonally adjusted …

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• 3 August 2020 10:30 pm

  How the BoE Finance Sector is Coping with COVID-19?

  

  The Bank of England (BoE) recently said that both the central bank and the government must provide more incentives for insurance companies, as well as investment and pension funds to invest in companies that are recovering from negative effects of the COVID-19 crisis. The aim is to encourage finance for …

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• 3 August 2020 8:30 pm

  US Manufacturing Activity Maintains Expansion in July

  

  Manufacturing activity in the United States expanded during July, as shown by the Institute for Supply Management’s (ISM) data on Monday. The ISM industrial activity index registered 54.2 in July, compared with 52.6 in June. This is the best reading for the index since March 2019.

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• 3 August 2020 7:17 pm

  Construction Spending in US at Year-Low

  

  Construction spending in the United States declined in June to its lowest level in a year, as shown by the data of the U.S. Department of Commerce. Construction spending decreased by 0.7% to $1.355 trillion, May’s reading was revised from a 2.1% decline to 1.7%.

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• 3 August 2020 5:43 pm

  Silver Fell After Historic Monthly Gain

  

  Silver prices fell on the European market on Monday under pressure from the recovery of American currency levels against a basket of global currencies, at the beginning of August trading, after achieving the largest monthly gain in percentage in the history of trading the white metal in july. Silver prices …

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• 3 August 2020 5:31 pm

  Russia Increases Oil Production While Reducing OPEC+ cuts

  

  The source familiar with the data on Monday said that Russia’s production of oil and gas condensates increased to 9.8 million barrels per day in the first and second of August, compared to 9.37 million barrels per day in July amid reducing production cuts agreed within the framework of OPEC …

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• 3 August 2020 3:49 pm

  Gold Jumps to All-Time High

  

  Gold prices rose to an all-time high on Monday with the demand for the metal as a safe haven boosted by concerns over the economic implications of growing Covid-19 cases, but a rise in the dollar limited the gains. The spot of gold was stable at $ 1973.75 an ounce, …

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• 3 August 2020 3:01 pm

  British Factory Production is Growing at the Fastest Pace Since 2017

  

  British industrial production grew at its fastest rate in nearly three years in July, as factories reopened and demand improved after easing closings. The IHS Market / CBS Manufacturing Purchasing Managers Index rose to 53.3 in July from June’s reading of 50.1, in line with a previous preliminary estimate of …

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• 3 August 2020 1:35 pm

  Eurozone Factory Activity Bounced Back in July

  

  A survey on Monday showed Eurozone factory activity growth for the first time since early 2019 last month on the recovery in demand after a further easing of the restrictions of Covid-19 Over 18 million people have been infected by the Covid-19. But governments across Europe eased some of the …

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• 3 August 2020 1:17 pm

  The First Growth of the German Factory Activity Since December 2018

  

  A survey on Monday showed that German manufacturers witnessed an expansion in July for the first time since December 2018, which indicates a continued recovery in the sector. The IHS Market index of manufacturing purchasing managers, which contributes about a fifth of the economy, rose to 51.0 in July, exceeding …

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