Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 6 October 2020 4:05 pm

  ECB: Profitability of Eurozone Banks Collapsed in Q2

  

  The European Central Bank said Tuesday that the profitability of the largest banks in the euro area collapsed in Q2 of the year, although banks managed to keep their bad loan balances low. The bank stated in its quarterly statistics that the return on capital in the first half of …

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• 6 October 2020 3:04 pm

  Sunak: We Can’t Keep Borrowing Huge Sums in Long Term

  

  British Finance Minister Rishi Sunak said Tuesday that his country cannot continue to borrow huge sums in the long term because it is not sustainable for the economy. “It is clear that this year we have had to borrow huge sums to support the economy in a time of crisis, …

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• 6 October 2020 2:58 pm

  Gold Dropping After Trump Leaves Hospital

  

  Gold prices fell on Tuesday, while stocks rose after US President Donald Trump left the hospital after being treated for the Corona virus, but the weakness of the dollar limited the gains. Gold spot fell 0.1% to 1910.68 dollars an ounce, and yesterday it had recorded 1918.36 dollars, its highest …

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• 6 October 2020 2:55 pm

  Oil Maintains Gains After Trump Returns to The White House

  

  Oil prices rose in early trading Tuesday after US President Donald Trump returned to the White House from the hospital after being admitted to receive treatment for the Corona virus last Friday, while another hurricane swept through the Gulf of Mexico in the United States. Prices fell sharply last Friday …

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• 6 October 2020 12:50 pm

  RBA Keeps Interest Rates Unchanged

  

  The Reserve Bank of Australia kept interest rates at 25 basis points, the level it has maintained since March. Reserve Bank of Australia Governor Philip Lowe said the unemployment rate is an important national priority for the board, and hinted at more monetary easing to support the economy and jobs. …

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• 6 October 2020 12:47 pm

  German Industrial Orders Rose More Than Expected in August

  

  Data on Tuesday showed that German industrial goods orders rose 4.5% month-on-month in August, a boost to hopes that Europe’s largest economy would rebound strongly in the third quarter from the coronavirus shock. The increase comes in comparison with Reuters’ forecast of a 2.6% rise, and indicates that the economy …

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• 6 October 2020 1:40 am

  Germany and Ireland Avoiding New Shutdowns

  

  The German and Irish governments are reportedly trying to avoid a new lockdown, as part of preventive measures against the Coronavirus (COVID-19) pandemic, according to Reuters. As businesses could be hit hard, the move seems to be falling out of favor in Berlin and Dublin. “There must not be a …

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• 6 October 2020 1:27 am

  NYSE Closes Higher on Investors’ Optimism

  

  The New York Stock Exchange (NYSE) closed Monday higher, opening the week with a positive performance supported by positive news about the health of US President Donald Trump, who is reportedly preparing to return to the White House. In addition, Wall Street remains in anticipation for a new stimulus package …

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• 6 October 2020 1:04 am

  CAD Rises to Highest Level in Two Weeks

  

  The Canadian Dollar (CAD) rose to its highest level in about two weeks against the US Dollar (USD), supported by a surge in oil prices of more than 5%. Gains by the CAD are amplified by the USD general weakness across the board, amid an improvement in risk appetite. The …

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• 6 October 2020 12:00 am

  Oil Rises by More than 5%

  

  Oil prices surged on Monday, recovering most of its losses last week, supported by an improved risk appetite after positive news about the health of US President Donald Trump. Brent crude futures for December delivery closed higher by $2.02, or 5.1%, at $41.29 per barrel, after four consecutive daily declines. …

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• 5 October 2020 11:52 pm

  Gold Closes Above $1,920 an Ounce

  

  Gold prices rose on Monday to their highest level in nearly two weeks, as the US Dollar (USD) declined across the board. Gains by the precious metal come despite an improved risk sentiment and reduced demand for safe havens; however, the general weakness of the USD supported the yellow metal. …

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• 5 October 2020 11:16 pm

  USD Declines Amid Improved Risk Appetite

  

  An improved risk appetite seems to have left its toll on the US Dollar (USD), which opening the week with decline across the board. Investors’ risk appetite improved after positive news about the health of the US president, as well as renewed hopes for a second stimulus package to be …

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• 5 October 2020 10:01 pm

  BoE’s Haskel: Negative Rates Could Have Positive Effects

  

  Member of the Bank of England’s (BoE) Monetary Policy Committee, Jonathan Haskel, said on Monday that the Eurozone could see positive effects from negative interest rates, according to recent researches. “The effectiveness is probably going to be contingent on the structure of the financial system and the position where we …

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