Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 8 October 2020 8:19 pm

  Oil Prices Resume Gains on Output Disruptions

  

  Oil prices returned to gains due to a number of support factors, led by the output disruptions in North America and Europe. Brent crude futures are up by 2.02%, trading at $42.84 a barrel, while the US West Texas Intermediate (WTI) futures are up by 2% at $40.75 a barrel. …

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• 8 October 2020 8:02 pm

  CAD Rises to Highest Level in Two Weeks

  

  The Canadian Dollar (CAD) rose to its highest level against the US Dollar (USD) in more than two weeks, supported by a surge in oil prices. Recent remarks by the Bank of Canada (BoC) Governor Tiff Macklem suggested that negative interest rates remain an option. The CAD is up by …

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• 8 October 2020 7:55 pm

  ECB Concerned About Economic Recovery

  

  The European Central Bank is more concerned about the impact of the COVID-19 crisis on the economy than previously expected, as shown by its September policy meeting minutes released on Thursday, Reuters reported. This indicates possibly more stimulus later this year. “The case was made for keeping a ‘free hand’ …

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• 8 October 2020 7:04 pm

  Fed’s George: Framework is Not Promise to Raise Inflation

  

  President of the Federal Reserve Bank of Kansas City, Esther George, said on Thursday that the Fed’s new framework, which aims for inflation above 2%, shows tolerance for higher inflation, but not a commitment to increase it. “I interpret the revised consensus statement as a tolerance, and less as a …

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• 8 October 2020 6:10 pm

  Square Buys $50 Million in Bitcoin

  

  Square said Thursday it bought 4,709 bitcoins, worth approximately $50 million which represents about 1% of Square’s total assets as of the end Q2 of 2020. “Square believes that cryptocurrency is an instrument of economic empowerment and provides a way for the world to participate in a global monetary system, which …

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• 8 October 2020 5:46 pm

  US Weekly Initial Jobless Claims Decline to 840K

  

  There were 840,000 initial claims for unemployment benefits in the US during the week ending October 3rd, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 849,000 (revised from 837,000) and came in slightly worse than the market expectation …

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• 8 October 2020 5:09 pm

  Highlights from BoC’s Governor Speech

  

  Highlights of the speech of the BoC Governor Tiff Macklem on Thursday as follows “We came into the pandemic with a number of vulnerabilities; it seems certain we will exit pandemic with higher levels of government debt.”“Our policy path will eventually have an impact on financial system vulnerabilities; lower-interest-rate environment …

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• 8 October 2020 4:44 pm

  OPEC Oil Outlook Report to 2045: The Pandemic Has Caused The Largest Decline in Oil Demand in History

  

  OPEC’s report on oil outlook up to 2045 revealed that the Corona pandemic caused the largest decline in oil demand in history, and that the global economy will shrink by about 4% this year, while the report confirmed that oil will remain the largest component of the energy mix in …

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• 8 October 2020 4:21 pm

  Strike in The Norwegian Oil Sector Will Affect 966,000 Barrels Per Day of Oil Equivalent

  

  The Norwegian Oil and Gas Union said Thursday (October 8th) that the current shutdown in production due to the ongoing strike in the oil and gas sector will increase to 966,000 barrels of oil equivalent per day by October 14 unless a solution to the crisis is found for the …

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• 8 October 2020 3:18 pm

  BOE Financial Policy Committee Statement Highlights

  

  Following the conclusion of the Bank of England (BOE) Financial Policy Committee (FPC) meeting on Thursday, the central bank released a statement, with the key points found below. The UK authorities and financial sector have measures in place to limit disruption to financial services at the end of the transition …

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• 8 October 2020 3:00 pm

  Germany’s Exports Increase in August Boosts Hopes For a Strong Recovery

  

  German exports increased for the fourth month in a row and more than expected in August, boosting hopes of a strong recovery for Europe’s largest economy in Q3 after the shock of the Corona pandemic earlier this year. The Federal Statistics Office said exports, adjusted for seasonal factors, rose 2.4% …

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• 8 October 2020 2:11 pm

  France’s Central Bank: The Economy Expanded 16% in Q3

  

  France’s central bank said Thursday that the country’s economy expanded 16% in Q3, after an unprecedented 13.8% decline in the previous three months, confirming earlier forecasts. The second-largest economy in the eurozone fell sharply into recession in Q2 after imposing a set of strict lockdown measures in Europe to limit …

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• 8 October 2020 1:34 pm

  European Shares Near Highest Level in Nearly 3 Weeks on Hopes of US Stimulus

  

  European stocks resumed their gains Thursday, approaching more than a three-week high, thanks to expectations of a targeted US stimulus package as well as positive corporate reports. The pan-European STOXX 600 index rose 0.7% by 0707 GMT, with travel, entertainment, industry and chemicals leading the gains. Wall Street indices rose …

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