Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 20 July 2020 9:11 pm

  Tenreyro: Lower Rates Won’t Raise Spending

  

  Silvana Tenreyro, member of the Bank of England’s (BoE) Monetary Policy Committee (MPC) has ruled out lowering interest rates soon, saying that lower rates will not necessarily lead to increased consumer spending. Tenreyro said that there remains significant uncertainty about the economy’s outlook. In her remarks earlier today, the MPC …

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• 20 July 2020 8:05 pm

  Haldane: BoE Considers Quantitative Easing

  

  The Bank of England (BoE) could consider lowering the cost of borrowing, the bank’s Chief Economist, Andy Haldane, said on Monday. The move could come as a way of adapting to a possible economic shock due to the COVID-19 crisis. “Roughly half of the roughly 25% fall in activity during …

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• 20 July 2020 7:17 pm

  NYSE Mixed at Early Trade

  

  The New York Stock Exchange (NYSE) opened Monday’s trading with a mixed performance, with fears regarding the rising number of COVID-19 cases in the United States continuing to impact the market. The Dow Jones Industrial Average is currently down by 0.25%, while the S&P 500 is up by 0.27%. Meanwhile, …

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• 20 July 2020 6:04 pm

  Bitcoin: Fails to Live up

  

  Bitcoin resumed its decline during European hours to test $ 9,133 while the crucial support at $ 9000 remains intact. At the time of writing, Bitcoin was trading at $ 9155, however, if it continues to gain bearish momentum it may retest the mentioned support area during American hours. Loose …

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• 20 July 2020 5:35 pm

  Spain’s Sanchez: EU Recovery Plan Might be Reached in The Next Hours

  

  Spanish Prime Minister Pedro Sanchez said on Monday that he hopes that EU leaders will agree on a recovery plan in the coming hours.  “Reaching EU agreement will require empathy, dialogue and determination,” Sanchez said. European leaders will resume talks again later at 1400 GMT today, extending the summit in …

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• 20 July 2020 5:06 pm

  French President Macron: Achieving COVID-19 recovery deal is likely

  

  After extending talks in Brussels to the fourth day, EU leaders are inching closer to a 1.8T Euro stimulus package in light of the economic damage caused by the coronavirus pandemic. French Finance Minister Bruno Le Maire said on Monday an agreement on a recovery plan at the European Council …

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• 20 July 2020 4:29 pm

  Wall Street Set to Open Mixed

  

  US stocks set to open mixed on negative headlines over the weekend about the spread of Covid-19. Cases continued to increase in Florida, reaching more than 10,000 new cases on Sunday, while Los Angeles Mayor said the city was “on the brink” of imposing new strict measures to prevent the …

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• 20 July 2020 3:33 pm

  UK’s Johnson on COVID-19 Vaccine: We’re not there yet

  

  The United Kingdom Prime Minister Boris Johnson said on Monday that he doesn’t see a COVID-19 successful vaccine developed by the end of this year, saying “we’re not there yet”. According to Reuters, Britain announced supply deals for two more vaccines under development. “To say that I’m 100% confident that …

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• 20 July 2020 2:38 pm

  Gold Rises on Increased Covid-19 Cases

  

  Prices of the precious yellow metal rose during trading on Monday with weak USD, due to concerns about the increase in Covid-19 cases and its impact on the global economy, which kept the metal above the psychological level of $ 1,800/oz. Gold is currently trading at $ 1811.70/oz, recording an …

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• 20 July 2020 1:14 pm

  Eurozone Current Account Surplus Drops Further

  

  The current account surplus of the 19 European Union countries shrank to 7.95B Euros in May from 14.27 in April on a large outflow of secondary income, includes transfers between residents and non-residents. In the 12 months to May, the Eurozone current account surplus fell to 2.2% of GDP from 2.7% in the …

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• 20 July 2020 12:56 pm

  Europe Stocks Lower Amid Confusion Over EU Summit

  

  European stock markets fell on Monday, with disappointment stemming from evidence that Eurozone leaders are preparing to diminish agreement negotiations on the eurozone recovery fund to counter the pandemic, making it less effective than expected. The German DAX fell 0.4%, French CAC fell 0.6% and FTSE fell 0.8%. Five European …

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• 20 July 2020 11:33 am

  Germany’s Merkel Warns of Summit Failure on EU Recovery Fund

  

  German Chancellor Angela Merkel warned that EU leaders may not be able to reach an agreement on a stimulus plan to combat Covid-19 on Sunday as negotiations between leaders continue for a third day and tensions over the demands of rich countries escalate. “There is a lot of goodwill, but …

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• 20 July 2020 10:53 am

  Oil Falling, Covid-19 Escalating

  

  Oil prices retreated on Monday on tensions over a recovery in fuel demand, after Covid-19 cases rose worldwide. Brent crude fell 25 cents, or 0.6%, to $ 42.89 a barrel, while US crude oil (WTI) fell 0.5%, or 22 cents, to $ 40.37 a barrel. More than 14.5M people were …

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