Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 13 November 2020 1:41 am

  Oil Prices Mixed on Unexpected Inventories Buildup

  

  Oil prices showed a mixed performance on Thursday, after data showed a surprise increase in crude inventories in the United States. In addition, concerns about the rising number of Coronavirus cases pressured crude prices despite commitment from the OPEC+ alliance to maintain output curbs. Brent crude futures for January delivery …

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• 12 November 2020 11:34 pm

  USD/CAD Reaching New Week Highs

  

  The US Dollar (USD) is rising on Thursday against its Canadian counterpart (CAD) to new week highs, despite a recovery by crude oil prices, which did not provide the needed support to the Canadian Dollar. The USD/CAD pair is trading higher for the day by 0.60% at 1.3142. Earlier today, …

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• 12 November 2020 11:30 pm

  US Budget Deficit Records $284 B in October

  

  The budget deficit in the United States amounted to $284 billion in October, data showed on Thursday. October marks the beginning of a new fiscal year in the US, while last year a record $3.1 trillion deficit was recorded. This comes as the US government tries to face the impact …

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• 12 November 2020 11:21 pm

  Gold Settles Higher as COVID-19 Cases Surge

  

  Gold prices rose on Thursday, amid increased concerns about the rising number of Coronavirus cases in the United States. The US recorded a record 200,000 cases of COVID-19 in a single day, the highest on record. The rise of the yellow metal comes as the US Dollar (USD) is also …

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• 12 November 2020 11:13 pm

  IMF Calls for Better Cooperation Between G20

  

  The International Monetary Fund (IMF) has called upon the G20 countries to coordinate their efforts to face the impacts of the Coronavirus (COVID-19) crisis, Reuters reported. “If the G20 countries, move together, invest together at the same time, they would spend a third less to achieve the same output goal,” …

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• 12 November 2020 10:58 pm

  Germany Facing Weaker Q4 Growth Due to Lockdown

  

  A partial lockdown in Germany this month could lead to weaker economic growth during the fourth quarter (Q4) of 2020, according to the German Finance Minister Olaf Scholz. The minister also said on Thursday that a government stimulus package could help offset the effect of the lockdown, Reuters reported. The …

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• 12 November 2020 10:54 pm

  US Oil Inventories Rise Unexpectedly

  

  Data by the United States Energy Information Administration (EIA) showed on Thursday that crude oil inventories in the US rose by 4.3 million barrels last week. The data comes against expectations a 3 million-barrel decline, according to a poll by S&P Global Platts. Gasoline inventories declined by 2.3 million barrels, …

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• 12 November 2020 9:28 pm

  European Stocks Finish Lower Following Data

  

  European stocks ended Thursday lower, after hopes for the new vaccine against the Coronavirus disease (COVID-19) provided a much needed support for the market. In addition, data showed earlier today a decline in industrial production across the Eurozone during the month of September. The pan-European STOXX Europe 600 closed lower …

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• 12 November 2020 7:40 pm

  EUR/GBP Surges Despite Positive GDP Data in UK

  

  The Euro (EUR) is surging against a weakening British Pound (GBP), despite industrial production in the Eurozone declining during September and the UK’s GDP rebounding during the third quarter (Q3) of the year. The EUR/GBP pair is up by 0.88%, trading at 0.8986. The pair has been moving today in …

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• 12 November 2020 6:40 pm

  CureVac Planning to Produce 300-400 Million Vaccine Doses in 2021

  

  German biotech CureVac’s CEO, Franz-Werner Haas, said on Thursday that they are planning to produce 300-400 million doses of their coronavirus vaccine in 2021, as reported by Reuters.

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• 12 November 2020 6:06 pm

  US: CPI Declines to 1.6% in October

  

  Inflation in the US, as measured by the Consumer Price Index (CPI), was 0% in October, the report published by the US Bureau of Labor Statistics showed on Thursday. On a yearly basis, the CPI declined to 1.2% from 1.4% in September. Further details of the publication revealed that the …

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• 12 November 2020 5:52 pm

  US: Weekly Initial Jobless Claims Fall to 709K

  

  There were 709,000 initial claims for unemployment benefits in the US during the week ending November 7th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 757,000 (revised from 751,000) and came in better than the market expectation of …

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• 12 November 2020 5:15 pm

  IEA: Permanent Shutdowns of Refineries Accelerated Due to The Pandemic

  

  The International Energy Agency said that the permanent shutdowns of refining capacity expected in 2020-2021 rose to about 1.7 million barrels per day in light of the Covid-19 pandemic striking demand for oil products. The agency added that the past few months have witnessed the announcement of the closure of …

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