Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2020

• 21 July 2020 3:47 am

  EU Leaders Nearing Agreement on Recovery Fund

  

  Leaders of the European Union (EU) are set to reach an agreement about the COVID-19 recovery fund, which will help member countries cope with the coronavirus pandemic economic impacts. President of the EU Council, Charles Michel, was cited by Reuters earlier today as saying that he is confident of the …

  Read More »
• 21 July 2020 1:35 am

  EUR/USD Maintains Upward Trend

  

  The Euro (EUR) rose against the US Dollar (USD) on Monday, supported by positive reports about COVID-19 vaccine trials and news that European leaders are nearing an agreement about a EUR 750 million recovery fund. The EUR/USD is currently trading at 1.14428, up by 0.15% for the day. Earlier today, …

  Read More »
• 21 July 2020 12:38 am

  Wall Street Settle Higher and Nasdaq Breaks New Record

  

  Wall Street saw another record-breaking day on Monday, as all the New York Stock Exchange (NYSE) indices settled higher with the Nasdaq reaching a new all-time high. The Dow Industrial Average Index closed marginally higher by 8.9 points or 0.03% at 26,680.87. S&P 500 increased by 0.84% to settle at …

  Read More »
• 20 July 2020 11:50 pm

  Oil Futures Settle Higher

  

  Oil prices settled higher on Monday with markets showing recovery signs despite the increasing number of COVID-19 cases. A recent report by the US Energy Information Administration (EIA) expected the global demand for crude oil to recover by August 2021 and restore its pre-crisis levels. The US benchmark crude oil, …

  Read More »
• 20 July 2020 11:23 pm

  Gold Prices Settle Higher and Silver Maintains Gains

  

  Gold prices settled higher on Monday, with the trading week beginning with an increased demand for safe havens as the number of COVID-19 cases continue to increase in the US and the world. Gold futures for August delivery increased by 0.4% and settled at $1,817.40 per ounce. Meanwhile, silver futures …

  Read More »
• 20 July 2020 10:42 pm

  European Stocks Settle Higher

  

  The European stocks rose on Monday, supported by positive reports about COVID-19 vaccine trials, with the market anticipating the European Union (EU) talks about an economic stimulus package with a total size of EUR 750 million. The pan-European STOXX Europe 600 index gained 0.74% to settle at 375.45. French index …

  Read More »
• 20 July 2020 9:34 pm

  Silver Surges to Highest Level in Four Years

  

  Silver prices rose to their level in roughly four years, after exceeding the $20 per ounce mark for the first time since September 2016. Rising demand on safe have, which has been driving recent increase in gold prices has also led to the appreciation of the white metal prices. Silver …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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, …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »