Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 5 October 2020 9:51 pm

  GBP/EUR Declines Awaiting Support from Brexit Talks

  

  The British Pound (GBP) declined against the Euro (EUR) on Monday, opening the week with limited losses amid anticipation for trade talks between the European Union (EU) and the United Kingdom (UK). The two sides recently agreed to speed up negotiations to reach a breakthrough. Disagreements persist and it remains …

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• 5 October 2020 7:55 pm

  Evans Sees Inflation Overshoot in Four Years

  

  President of the Federal Reserve Bank of Chicago, Charles Evans, expects an inflation overshoot after more than three years, Bloomberg reported. “I expect inflation to slowly improve, reaching 2% on a persistent basis in 2023 and then moderately overshooting 2% over the following few years.”“We likely have a lot of …

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• 5 October 2020 7:42 pm

  Fed’s Evans: Allow Inflation to Reach 2.5%

  

  President of the Federal Reserve Bank of Chicago, Charles Evans, expects inflation in the United States will reach 2% and unemployment at 4% by 2023, Reuters reported. According to Evans, inflation could be allowed to reach 2.5%. “The Fed needs to have an ‘in it to win it’ attitude toward …

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• 5 October 2020 6:28 pm

  Eurozone Economic Recovery Stalled in September as Services Sector Contracted

  

  A survey showed that the economic recovery in the Eurozone was faltering in September due to the decline of the service sector, which dominates the economy of the bloc, as a result of re-imposing some restrictions on activities to prevent a new spread of the Coronavirus. Rising infection rates in …

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• 5 October 2020 5:37 pm

  Eurozone Investor Sentiment Fell in October

  

  Monday’s survey showed investor sentiment in the Euro area declined in October, halting a five-month streak of improvement, in an indication of concerns about the increasing of coronavirus cases. The Sentex Euro area index fell to -8.3 from -8.0 in September, compared to Reuters’ forecast for a reading of -9.5. …

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• 5 October 2020 4:39 pm

  Dollar Holding Its Breath For Developments in Trump’s Health and a Financial Package

  

  The dollar index declined slightly on Monday, as it witnessed little change from Friday’s closing, as financial markets await news about the health of US President Donald Trump and the developments in talks regarding financial aid in Washington. On Friday, Trump announced that he had tested positive for COVID-19, prompting …

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• 5 October 2020 3:38 pm

  Eurozone Retail Sales Stronger Than expected in August

  

  Data on Monday showed that Eurozone retail sales were much stronger than expected in August thanks to a massive increase in online purchases and growth in clothing sales amid the Covid-19 pandemic, but July sales were revised down. Retail sales in 19 Eurozone countries jumped 4.4% month-on-month in August, registering …

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• 5 October 2020 2:50 pm

  Gold Retreats as Doctors Hint About Trump

  

  Gold fell on Monday, as the White House signal that US President Donald Trump was “responding well” to the Covid-19 treatment improved global sentiment, prompting the withdrawal of money from the metal that is usually considered a safe haven. Doctors said his health was improving and he may return to …

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• 5 October 2020 10:51 am

  FX Option Expiries For Oct 5 NY Cut

  

  FX option expiries for Oct 5 NY cut at 10:00 Eastern Time, via DTCC, can be found below. EUR/USD: EUR amounts 1.1700 1.1bn1.1730 760m1.1870 843m USD/JPY: USD amounts 104.05 360m104.50 450m105.00 1.3bn105.80 461m AUD/USD: AUD amounts 0.7160 535m0.7230 628m

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• 5 October 2020 10:50 am

  Japan’s Nikkei Index Rises 1.3% in Early Trading in Tokyo

  

  The Nikkei benchmark rose in early trading on the Tokyo Stock Exchange on Monday. Nikkei rose 1.3% to 23,309.8 points, while the broader TOPIX index increased 1.10% to 1626.85 points.

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• 5 October 2020 10:16 am

  Oil Prices Rise 2% After Upbeat Signals From Trump Doctors

  

  Oil prices increased by more than 2% on Monday, supported by statements from doctors to US President Donald Trump indicating that he could be discharged from the hospital today, a few days after he was diagnosed with the Coronavirus, which caused widespread panic. New information on Trump’s health reduced the …

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• 3 October 2020 1:32 am

  Wall Street Narrow Weekly Gains on Trump News

  

  The New York Stock Exchange (NYSE) closed lower on Friday, as Wall Street saw fluctuations after the President of the United States, Donald Trump, and his wife, tested positive for COVID-19. The Dow Jones Industrial Average lost 134.09 points, 0.5%, to close at 27,682.81 points, but rose by 1.9% for …

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• 3 October 2020 1:24 am

  Kashkari: Not Passing Stimulus Will Slow Recovery

  

  President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Friday that the road to economic recovery is long and challenging. “We are a long way from recovering the job market that we had back in January and February.” If Congress fails to pass more relief, more small …

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