Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 20 October 2020 1:15 am

  Oil Prices Settle Lower on COVID-19 Concerns

  

  Oil prices declined on Monday, despite the OPEC+ reiterating commitment for output cuts, amid concerns about the impact of the second wave of the Coronavirus pandemic on the global demand. Brent crude futures for December delivery closed lower by 31 cents, or 0.7%, at $42.62 per barrel. Meanwhile, the West …

  Read More »
• 19 October 2020 11:49 pm

  Gold Finishes Higher as USD Declines

  

  Gold prices rose on Monday, opening the week with a positive performance amid uncertainties that supported demand for safe havens. In addition, a decline by the US Dollar (USD) supported the gains of the yellow metal. Gold futures for December delivery closed higher by $5.30, or 0.3%, at $1,911.70 per …

  Read More »
• 19 October 2020 10:24 pm

  Fed’s Clarida: Economic Recovery Will Need Time

  

  The Vice Chair of the United States Federal Reserve, Richard Clarida, said on Monday that the US economy is recovering from the COVID-19 crisis but would need more time to return to its levels prior to the pandemic. “While recovery since the spring collapse in economic activity has been robust, …

  Read More »
• 19 October 2020 9:54 pm

  Turkey Expected to Hike Rates by 1.75%

  

  The Central Bank of Turkey is expected to raise its main interest rate by 175 basis points to 12% this week, according to a Reuters poll. Despite a surprise 2% increase in interest rates last month, the Turkish Lira (TRY) declined by 4% against the US Dollar (USD), continuing its …

  Read More »
• 19 October 2020 9:20 pm

  Business Sentiment in Canada Improves in Q3

  

  Business sentiment in Canada improved during the third quarter (Q3) of 2020, as lockdown measures and preventive measurements against the Coronavirus (COVID-19) pandemic were eased, according to data by the Bank of Canada (BoC). The BoC business outlook indicator slightly rose compared with Q2, but remained below its average, remaining …

  Read More »
• 19 October 2020 8:55 pm

  GBP/USD Rises Despite Brexit Uncertainty

  

  The British Pound (GBP) rose on Monday, despite uncertainty surrounding trade talks between the United Kingdom (UK) and the European Union (EU), amid hopes for the two parties reaching an agreement before the end of the year. London does not plan to return to trade negotiations with the EU next …

  Read More »
• 19 October 2020 8:46 pm

  European Stocks Erase Earlier Gains to Close in Red

  

  European stocks gave up earlier gains and closed Monday lower, amid uncertainty surrounding Brexit talks between the United Kingdom (UK) and the European Union (EU). The STOXX Europe 600 index closed lower by 0.3%, after rising earlier today by 0.8%. Meanwhile, the UK’s FTSE100 fell by 0.59%. Similarly, the French …

  Read More »
• 19 October 2020 8:08 pm

  UK Not Planning Trade Talks with EU Next Year

  

  The United Kingdom (UK) does not plan to return to trade negotiations with the European Union (EU) next year, according to the Prime Minister Boris Johnson’s spokesman “We have been repeatedly clear that any agreement needs to be in place before the end of the transition period, and we will …

  Read More »
• 19 October 2020 6:37 pm

  Halliburton Posts Losses in Q3

  

  Halliburton reported quarterly losses for the fourth consecutive quarter, amid disruptions caused by the COVID-19 crisis affecting the global demand for oil. Revenues decreased to $1.57 billion down by 55% from $3.51 billion for the same quarter last year. The oil giant posted a net loss of $17 million during …

  Read More »
• 19 October 2020 6:31 pm

  Fed’s Powell Urges Caution with US Digital Currency

  

  The United States Federal Reserve Chair Jerome Powell said on Monday that it is more important for the US to get it a digital currency right than to just be first in the field. “We do think it’s more important to get it right than to be first and getting …

  Read More »
• 19 October 2020 6:25 pm

  Lagarde: ECB to Maintain Accommodative Policy

  

  The European Central Bank (ECB) is set to maintain an accommodative policy amid the COVID-19 crisis, said the bank’s President Christine Lagarde on Monday, Reuters reported. Lagarde further revealed that EUR 590 billion of the EUR 1.35 trillion asset purchase programme have already been allocated to help maintain interest rates …

  Read More »
• 19 October 2020 6:08 pm

  Wall Street Opens Higher on Renewed Hopes For a Stimulus Agreement

  

  Major US stock indices opened higher today, Monday, thanks to hopes that a vaccine for the Coronavirus will be available by the end of the year, while investors are also encouraged by indications that an agreement will soon be reached in Washington on a financial package. The Dow Jones Industrial …

  Read More »
• 19 October 2020 5:42 pm

  US Wholesale Sales Rose For Fourth Month in a Row

  

  Wholesale sales in the Canadian economy increased for the fourth consecutive month in August, more than analysts’ expectations. data released by Statistics Canada showed on Monday, that wholesale sales in Canada posted an increase of 3% last August compared to 4.3% in July. Analysts had expected that wholesale sales in …

  Read More »