Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 13 November 2020 11:06 pm

  Gold Limits Weekly Decline to 3%

  

  Gold prices rose on Friday, recovering some of its losses earlier in the week that saw the announcement of the success of a new Coronavirus vaccine being developed by Pfizer and BioNTech. Gold futures for December delivery rose by $12.90, or 0.7%, and settled at $1,886.20 per ounce. For the …

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• 13 November 2020 10:22 pm

  Brazil Real to Recover With Foreign Investments

  

  The Brazil Real (BRL) is set to recover some ground against the US Dollar (USD) as soon as foreign investors are confident in the country’s economy, according to the Brazilian Minister of Economy Paulo Guedes, Reuters reported. “When will the exchange rate go down? When there is success to attract …

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• 13 November 2020 10:18 pm

  Fed’s Williams: Coronavirus Cases Tests Recovery

  

  The President of the Federal Reserve Bank of New York, John Williams, said on Friday in an interview with the Financial Times that the United States economy is recovering but remains in a deep hole. “The very large rise in COVID cases recently clearly puts a question mark on the …

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• 13 November 2020 9:52 pm

  BoE: Not Responsible for Protecting Bank Business Models

  

  It is not the job of the Bank of England (BoE) to protect the business models of banks, said the Deputy Governor of the BoE, Jon Cunliffe, commenting on the future impact of digital currencies, Reuters reported. “Banks will have to adjust. Our job is to ensure that if bank …

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• 13 November 2020 9:31 pm

  European Stocks Settle on Weekly Gains

  

  European stocks ended Friday nearly unchanged, but was able to record a weekly rise, supported by positive news earlier in the week about the success of a Coronavirus vaccine. The pan-European STOXX 600 index added 0.20 points but gained about 3.5% for the week.

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• 13 November 2020 9:23 pm

  Fed’s Harker: Recovery Will Take Time

  

  President of the Federal Reserve Bank of Philadelphia, Patrick Harker, said on Friday that the United States economy would take some time to return to its pre-crisis levels. The Coronavirus pandemic has exacerbated inequality and accelerated automation, he added. “We’re not just going to snap right back to the previous …

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• 13 November 2020 7:35 pm

  DXY Showing Fluctuations and Moves to Decline

  

  The US Dollar (USD) is showing a mixed performance on Friday across the board, with rising concerns about the increasing number of COVID-19 cases in the United States. The Dollar Index (DXY), which measures the USD performance against a basket of six major international currencies, is down by 0.15% at …

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• 13 November 2020 6:08 pm

  OPEC+ Compliance With Oil Production Cuts in October at 101%

  

  Two OPEC + sources told Reuters on Friday that the producer group’s compliance with the October oil production cuts is expected to reach 101 percent.

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• 13 November 2020 5:32 pm

  Fed’s Williams: We Are Still in an Extraordinary Situation With COVID

  

  Regarding the fiscal policy and additional stimulus, New York Federal Reserve President John Williams noted that they are still in an extraordinary situation with the coronavirus outbreak, as reported by Reuters. “Fed’s inflation target will call for inflation going modestly above 2% for some period of time.”“Climate change is a …

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• 13 November 2020 5:14 pm

  The G20 ِAgrees on a Framework For Structuring Debt in The Future

  

  The Group of Twenty (G20) finance ministers agreed for the first time on Friday on a new joint framework for restructuring government debt in anticipation that the coronavirus crisis could lead some poor countries to need significant debt forgiveness. Large creditors, including China, are expected to follow common guidelines that …

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• 13 November 2020 4:09 pm

  Germany’s Economy Takes a Hit From Lockdown Measures in November

  

  The German economy ministry said on Friday that the country’s economic recovery has continued until October but has slowed since August, adding that lockdown measures put in place to slow the spread of the Coronavirus hurt the economy in November. But the ministry said it did not look like the …

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• 13 November 2020 3:50 pm

  US Dollar Falling as Vaccine Optimism Recedes and Yen Towards Worst Week Since March

  

  The dollar fell on Friday and risk appetite dwindled in currency markets, as concerns about the economic consequences of the spike in COVID-19 cases in Europe and the United States dampened initial enthusiasm about a possible vaccine. Global markets rose on Monday after Pfizer said its experimental vaccine was more …

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• 13 November 2020 2:54 pm

  Eurozone Preliminary GDP Arrives at 12.6% QoQ in Q3

  

  The Eurozone economy saw a rebound of 12.6% on quarter in the three months to September of 2020, missing +12.7% expected. Data released by the European Statistics Office (Eurostat) revealed on Friday. On an annualized basis, the bloc’s GDP dropped by 4.4% in Q3 vs. -4.3% seen in the previous reading while …

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