Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 10 October 2020 1:56 am

  Crude Prices Fall by More Than 1%, But Achieve a Weekly Gain of 9%.

  

  Oil prices fell on Friday (October 9th) by more than 1% after a strike by oil workers ended in Norway, which will raise crude production even though Hurricane Delta forced US energy companies to cut production. Brent futures fell 49 cents, or 1.1%, to settle at $ 42.85 a barrel, …

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• 9 October 2020 11:50 pm

  Baker Hughes: U.S. Drillers Add Oil Rigs For Fourth Week in a Row

  

  The number of active US oil rigs decreased by 4 to 193this week, according to data by Baker Hughes.  The total active U.S. rig count, meanwhile, was up 3 to 269, according to Baker Hughes. This week’s rig count was 587 rigs, or 69%, below this time last year. U.S. …

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• 9 October 2020 11:44 pm

  EU MPs Halt Talks with Representatives of EU Governments Over The Economic Recovery Package

  

  EU lawmakers have suspended their talks with representatives of EU governments over the budget and the € 1.8 trillion coronavirus recovery package.

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• 9 October 2020 11:35 pm

  European Stocks Post Second Weekly Gain

  

  European stocks recorded a second consecutive weekly gain Friday, October 9th, as positive expectations from Pandora and Novo Nordisk gave the Danish side a more optimistic character to the earnings season, as investors’ eyes continued to turn to indications of a new US stimulus. The pan-European STOXX 600 index closed …

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• 9 October 2020 10:11 pm

  Oil Workers Strike Ends in Norway After an Agreement With Companies Over Wages

  

  Negotiators from the oil companies and trade unions in Norway Friday, October 9th, said that officials from the two parties have concluded an agreement on wages, thus ending a strike that had threatened to cut the country’s production of oil and gas by nearly 25% next week. Last Monday saw …

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• 9 October 2020 8:33 pm

  Gold Jumps 2% on Dollar’s Decline And Bets on Stimulus

  

  Gold rose about 2% on Friday, as the dollar fell to its lowest level in nearly three weeks and bets increased on new stimulus in the United States, prompting investors to buy the precious metal to hedge against potential inflation. Spot gold rose 1.8% to 1927.51 dollars an ounce by …

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• 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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