Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 9 December 2020 10:44 pm

  US Crude Oil Inventories Surge by 15.2 M Barrels

  

  Crude oil inventories in the United States surged last week, data by the Energy Information Administration (EIA) showed on Wednesday. Oil stockpiles went up by 15.2 million barrels in the week to December 4, reaching a total of 503.2 million barrels. This is the largest rise in crude oil inventories …

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• 9 December 2020 10:28 pm

  US Wholesale Inventories Rise in October

  

  Wholesale inventories in the United States rose in October, according to data by the Department of Commerce release on Wednesday. Wholesale inventories rose by 1.1% in October, instead of an initially estimated 0.9%. On an annual basis, inventories decline by 2.2% in October 2020, compared with the same month of …

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• 9 December 2020 8:30 pm

  US New Job Openings Rise in October

  

  New job openings in the United increased during the month of October, as the American economy is recovering from the Coronavirus crisis, data showed on Wednesday. Job openings grew to 6.65 million by the end of October from 6.49 million in September, according to the US Department of Labor’s monthly …

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• 9 December 2020 7:20 pm

  The S&P 500 Reaches a Record High Thanks to The Vaccine And The Stimulus Bets

  

  The S&P 500 Index hit a record high moments after the opening Wednesday, amid demand for stocks sensitive to economic developments such as banks and industrial companies sparked hopes for a vaccine-fueled recovery and more US fiscal stimulus. The S&P 500 opened up 3.73 points, equivalent to 0.10%, to reach …

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• 9 December 2020 7:00 pm

  BoC Maintains Interest Rates

  

  The Bank of Canada (BoC) maintained its target for the overnight rate at the effective lower bound of 0.25%, with the Bank Rate at 0.5% and the deposit rate at 0.25%.

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• 9 December 2020 6:42 pm

  China’s CPI Fell For The First Time Since 2009

  

  China’s CPI fell in November for the first time in nearly a decade as food prices fell. The Chinese National Statistics Office said the Consumer Price Index, a gauge of inflation that measures the prices of a basket of consumer goods and services, fell 0.5% in November compared to a …

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• 9 December 2020 6:15 pm

  UK PM Johnson: EU Wants to Take Away Our Control Over Our Fishing Waters

  

  “The European Union wants to take away our control over our fishing waters,” British Prime Minister Boris Johnson said on Wednesday and reiterated that he cannot accept that demand. “The EU is insisting that if they pass a new law in the future then they want the automatic right to …

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• 9 December 2020 5:23 pm

  Russia: OPEC+ Decision Supports The Budget Plan

  

  Russia’s Finance Minister Anton Siluanov said last week’s decision by the OPEC+ group to gradually increase oil production would help Russia implement its budget revenue plan and may also contribute to the growth of its sovereign wealth fund. The Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC Russia agreed …

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• 9 December 2020 4:15 pm

  Britain Suspends Tariffs on US Goods to Ease a Trade Dispute

  

  The British Ministry of Commerce said that starting from January 1, Britain will suspend customs duties imposed on US goods in a dispute over aircraft support, describing the move as an attempt to reduce the escalation of a devastating conflict in international trade. This decision is Britain’s first deviation from …

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• 9 December 2020 3:35 pm

  BoC Preview: There Are no Surprises But Could Address Future of QE

  

  Markets are looking forward to Wednesday’s decision interest rates by bank of Canada, and it is widely expected that the Bank of Canada will leave the interest rate unchanged (0.25%). The bank may make some statements regarding the Canadian economy after Canadian data came in above expectations in terms of …

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• 9 December 2020 2:47 pm

  Dollar Falls as Vaccine Optimism Undermines Demand For Safe Havens

  

  The dollar fell in Asia on Wednesday (December 9th), as signs of progress in the fight against the Covid-19 pandemic undermined demand for safe assets, while the pound was facing anxious anticipation ahead of a meeting of leaders seeking to salvage a trade deal of Brexit The US currency fell …

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• 9 December 2020 1:55 pm

  A Smaller-Than-Expected Increase in German Exports in October

  

  German exports increased less than expected in October, but foreign trade continued to provide a boost to Europe’s largest economy at the start of the fourth quarter of the year as it struggled to avoid a slide into deflation. The Federal Statistics Office said on Wednesday that exports, adjusted for …

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• 9 December 2020 1:18 pm

  Oil is Rising, And Hopes For The Vaccine Suggest an Increase in US Stocks

  

  Oil prices rose on Wednesday, December 9th, to reduce crude losses incurred earlier, amid positive news about Covid-19 vaccines that boosted investors’ hopes for a recovery in fuel demand, which overshadowed concern about an unexpected jump in US oil stocks last week. Brent crude rose 11 cents, equivalent to 0.2%, …

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