Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 14 October 2020 5:34 pm

  Fed’s Clarida: Economic Data Since May Are Surprisingly Strong

  

  Fed Vice Chairman Richard Clarida said on Wednesday that the US economy needs another year or maybe more to return to the levels of activity it was at before the outbreak of the pandemic. Clarida noted that policy moves by the Federal Reserve and Congress have helped spur activity such …

  Read More »
• 14 October 2020 5:17 pm

  US: Annual Core PPI Rises to 1.2% in September

  

  The Producer Price Index (PPI) in the US for final demand ticked higher to 0.4% on a monthly basis in September from 0.3% in August, the data published by the US Bureau of Labor Statistics showed on Wednesday. On a yearly basis, the PPI rose to 0.4% from -0.2% and …

  Read More »
• 14 October 2020 4:39 pm

  Bank of America Profit Falls on Higher Provisions

  

  Bank of America announced on Wednesday a 15.8% drop in quarterly profits, as it was hit by higher provisions for credit losses and declining performance in three of the four major sectors. The second-largest bank in the United States by assets set aside $ 1.4 billion in reserves to cover …

  Read More »
• 14 October 2020 4:03 pm

  UK PM Johnson: Let’s Try to Avoid Misery of Another National Lockdown

  

  British Prime Minister Boris Johnson said on Wednesday that the advice he has today suggests that the regional approach to lockdowns can bring down the R-rate, as reported by Reuters. “The whole point is to seize this moment now to avoid the misery of another national lockdown,” Johnson added but …

  Read More »
• 14 October 2020 3:22 pm

  Russian Energy Minister: OPEC + is Committed to Plans to Reduce Production Cuts

  

  Oil prices fell on Wednesday after US President Donald Trump dampened hopes for a fourth stimulus package to support the economy affected by the Coronavirus pandemic, in addition to an more than expected increase in US crude stocks. US West Texas Intermediate crude futures were down 42 cents, or 1 …

  Read More »
• 14 October 2020 2:33 pm

  Dollar Gains Halted And Risks Drive Speculators Away

  

  The dollar held on to its gains against most currencies on Wednesday, with renewed doubts about the Corona virus vaccine and the absence of an agreement on an additional financial stimulus package in the United States, which pushed dealers towards safer assets. There was no significant change in the yuan’s …

  Read More »
• 14 October 2020 1:10 pm

  Oil Prices Falling on Demand Concerns

  

  Oil prices fell on Wednesday, due to fears that the continued decline in fuel demand in light of the high cases of Coronavirus in Europe and the United States, the largest consumer of crude in the world, may impede economic growth. The monthly report of the Organization of Petroleum Exporting …

  Read More »
• 14 October 2020 12:52 am

  Wall Street Closes in Red

  

  The New York Stock Exchange (NYSE) closed lower on Tuesday, amid worries for the second wave of the Coronavirus (COVID-19) pandemic and the effectiveness of its new remedies. The Dow Jones Industrial Average lost 157.7 points, or 0.55%, to close at 28,679.81 points. S&P 500 lost 22.3 points, or 0.63%, …

  Read More »
• 14 October 2020 12:45 am

  US Treasury Yields Decline On COVID-19 Worries

  

  Treasury yields in the United States declined on Tuesday, amid increased demand due to concerns about COVID-19 and the effectiveness of its new remedies. Return on the 10-year Treasury notes decreased by 4.9 basis points to 0.726%. This is the biggest decline in the benchmark treasury yield since June 11. …

  Read More »
• 14 October 2020 12:39 am

  Oil Closes Higher on Hopes for Improved Demand Outlook

  

  Oil prices finished higher on Tuesday supported by an increase in Chinese imports last month, which helped improve the outlook for global demand recovery. Brent crude futures for December delivery rose by 73 cents, or 1.8%, to settle at $42.45 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures …

  Read More »
• 13 October 2020 10:46 pm

  Gold Prices Fall for First Time in Four Days

  

  Gold prices declined on Tuesday, as the US Dollar rose across the board, making its first daily decline in four sessions. Gold futures for December delivery decreased by $34.30, or 1.8%, to close at $1,894.60 per ounce. The Dollar index (DXY) is up by 0.51% at 93.54.

  Read More »
• 13 October 2020 9:37 pm

  McAfee Plans $814 M IPO – Reports

  

  McAfee Corp, a company specialized in antivirus and cybersecurity solutions is planning to raise up to $814 million through an initial public offering (IPO) in the United States, Reuters reported. Around 31 million shares are expected to be sold, while the selling stockholders are set to offer about 6 million …

  Read More »
• 13 October 2020 9:23 pm

  GBP Declines on USD Strength and Brexit Uncertainty

  

  The British Pound (GBP) declined against the US Dollar (USD) on Tuesday, following four consecutive rises, as the USD rose supported by inflation data, while the GBP remains impacted by Brexit trade talks uncertainty. The GBP/USD is down by 0.82% for the day at 1.2957. The pair has been moving …

  Read More »