Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 9 October 2020 7:35 pm

  China Will Release 10 Million Digital Yuan in Its First Public Test

  

  The Chinese central bank is issuing digital coins worth 10 million yuan ($ 1.5 million) to 500 users, who will be chosen at random, in a move that some see as the country’s first public test of the yuan’s digital payment system. The People’s Bank of China (central bank) campaign …

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• 9 October 2020 6:39 pm

  Wall Street Rises at The Open on Stimulus Optimism

  

  Wall Street’s major indexes rose at the open, putting the S&P 500 and the Dow on track for its second consecutive weekly gain on hopes of more financial aid and growing expectations for a Democratic victory in next month’s presidential election. The Dow Jones Industrial Average rose 108.10 points, or …

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• 9 October 2020 4:54 pm

  European Shares Rise on Positive Outlook For Pandora and Novo Nordisk

  

  European stock markets posting gains thanks to positive earnings outlooks from Pandora and Zalando for retail as well as from pharmaceutical maker Novo Nordisk, as investors keep their sights on indications of a new stimulus release in the US. Danish jewelry maker Pandora’s shares jumped 10.6% and German online fashion …

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• 9 October 2020 4:44 pm

  Canada: Unemployment Rate Declines to 9% in September

  

  Net Change in Employment in Canada rose by 378,000 in September, compared to economists’ estimate of 156,600, and brought the Unemployment Rate down from 10.2% in August to 9%, Statistics Canada reported on Friday. This reading beat the market expectation of 9.7% by a wide margin. Further details of the …

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• 9 October 2020 2:53 pm

  Japan Stocks Post Biggest Weekly Gain in Two Months Thanks to US Stimulus Hopes

  

  Japanese stocks achieved the largest weekly gain in two months, thanks to hopes for more stimulus in the United States, although some investors doubt the prospects of reaching an agreement in this regard before the US presidential elections. The Nikkei index closed down 0.12% at 23,619.69 points today. For the …

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• 9 October 2020 2:18 pm

  Oil Heading For a Weekly Gain on Norway’s Supply Cuts

  

  Oil prices retreated, to fall at the end of a week in which it made big gains due to the risk of a possible decrease in supplies from Norway by up to 25% due to a strike by workers in the sector. Before the opening of European markets, Brent crude …

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• 9 October 2020 1:30 pm

  Gold Rises 1% on The Decline of Dollar And Hopes of a US Stimulus

  

  Gold prices rose 1% due to the weak dollar and heading towards achieving the second consecutive weekly gain, as the attractiveness of the yellow metal increased as a hedge against inflation due to renewed optimism about a new US aid package to mitigate the repercussions of the Corona virus. Spot …

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• 9 October 2020 12:37 pm

  US Congress Expects the Budget Deficit to Reach $ 3.1 Trillion in 2020

  

  The Congressional Budget Office said during the monthly forecast report that estimates of the budget deficit in the fiscal year 2020 and ended last September indicate $ 3.131 trillion, compared to the deficit of $ 984 billion in 2019. Despite this rise, this deficit is about $ 180 billion less …

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• 9 October 2020 12:04 pm

  The British Economy Grew by 2.1% in August, But Below Expectations

  

  The UK economy grew by 2.1% in August M-o-M, as the country’s gradual recovery from the coronavirus crisis continued, albeit at a slightly slower pace. Estimated growth in UK gross domestic product for the month of August was below expectations, with economists in a Reuters poll forecasting 4.6% monthly growth. …

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• 9 October 2020 1:00 am

  Inflation in Mexico Declines in September

  

  Inflation in Mexico recorded 4.01% on an annual basis in September, amid a decline in food and energy price rises, official data showed on Thursday. Core consumer price index (CPI) rose by 3.99% last month, and by 0.32% on a monthly basis. The Mexican Ministry of Finance predicts inflation will …

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• 9 October 2020 12:00 am

  Merkel Proposes Return to Balanced Budget in 2022

  

  Germany needs to return to a balanced budget starting from 2022, Chancellor Angela Merkel said on Thursday, Reuters reported. This comes after the German government registered a record level of borrowing due to the COVID-19 pandemic, at around EUR 218 billion. The government also plans more than EUR 96 billion …

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• 8 October 2020 11:12 pm

  Gold Recovers from One-Week Low

  

  Gold prices increased on Thursday recovering from its lowest level in a week, supported by hopes for piecemeal stimulus for the US economy. Gold futures for December delivery added $4.30, or 0.2%, and settled at $1,895.10 per ounce. Meanwhile, silver futures for December delivery declined by 2 cents, or 0.08%, …

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• 8 October 2020 11:04 pm

  USD Struggling for Direction

  

  The US Dollar (USD) is fluctuating during Thursday’s trading session, showing a mixed performance against major currencies. The Dollar Index (DXY), which measures the USD performance against a basket of six international currencies, is marginally down by 0.03% at 93.60. Yesterday, the index closed at 93.63, but today it has …

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