Noor Trends

Market Analysis

July, 2020

1 July 2020 3:09 pm
COVID-19 Updates: Gloomy Warnings in the US

The world’s efforts for discovering a cure are going at full capacity, with Gilead’s remdeisivr being a potential cure. In the US, the number of cases reached 40,000 again, and epidemiologist Anthony Fauci warned that the US could see 100,000 cases per day. While testifying on Capitol Hill, he told …
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1 July 2020 2:39 pm
IFO Sees Europe’s Largest Economy Contracting by 6.7% in 2020

“Germany’s economy will gradually recover after a historic slump due to the coronavirus pandemic and will likely return to last year’s level at the end of 2021,” economic institute IFO said on Wednesday, according to Reuters. IFO sees GDP contracting by 11.9% in Q2 on a quarterly basis and to …
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1 July 2020 2:13 pm
Eurozone PMI Manufacturing Finalized at 47.4

Eurozone PMI Manufacturing was finalized at 47.4 in June, up from 39.4 in May a report by IHS Markit said. The index was in contraction below 50 for 17 consecutive months. and had fallen to 33.4 in April. The report stated: “Eurozone manufacturing sector continues to contract sharply,” “There was …
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1 July 2020 1:54 pm
UK Manufacturing Activity Picked Up in June

After the Great collapse due to COVID 19 pandemic, the UK manufacturing sector returned to recovery after it began to stabilize last June. IHS Markit’s Purchasing Managers Index (PMI) posted 50.1 compared to 40.7 in May, in line with economists’ expectations. PMIs are given on a scale of 0 to …
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1 July 2020 1:13 pm
Dubai’s Economy Shrank by 3.5% in Q1 Amid Coronavirus Pandemic

The government media office in UAE said in a statement issued on Tuesday that Dubai’s real GDP decreased by 3.5% in Q1 year-on-year as the country was hit by the Covid-19 pandemic, according to Reuters. The government said some sectors such as real estate and finance have maintained their strength …
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Key Takeaways Dollar weakens: The DXY ticked 0.1% lower in London trade, stabilizing after sliding t…

Key Takeaways Futures reverse: S&P 500 futures fell 0.1% to 7,390.25; Nasdaq 100 futures dropped…

Key Takeaways Strong broad gains: The Stoxx 600 jumped 1% to a two-week high; Germany’s DAX va…

Key Takeaways Oil plunges: Brent fell 4.3% to $86.47 per barrel, while WTI dropped 4.5% to $83.78 — …

Key Takeaways Gold falls: Spot gold dropped 0.7% to $4,182.44 per ounce — on track for a weekly loss…

Key Takeaways Historic IPO: SpaceX raised $75 billion — the largest initial public offering in U.S. …

Key Takeaways Trump’s bombshell announcement: The president declared the U.S. had reached a se…

Key Takeaways KOSPI surges 8%: South Korea’s index led Asia on massive chipmaking stock recove…

Gold prices staged a rebound on Thursday after falling to their lowest level in six months, as renew…

European stock markets closed mostly higher on Thursday after European Central Bank President Christ…

Market Analysis

July, 2020