Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices closed lower on Friday, limiting their weekly rise, which was mostly supported by the decline of the US Dollar (USD). The yellow metal futures for February delivery lost $1.50, or 0.1%, to finish at $1,888.90 per ounce. For the week, gold futures gained about 2.5%. Today’s decline of …
Read More »Market Analysis
December, 2020
-
18 December 2020 10:00 pm
US Oil Rigs Rise for Fourth Week in Row
The number of active oil rigs in the United States increased by five to a total of 263 this week, according to the weekly report by Baker Hughes. This is the fourth consecutive weekly rise in US oil rigs. The total active rig count in the United, including rigs drilling …
Read More » -
18 December 2020 9:23 pm
Dollar Showing Some Recovery Signs
The US Dollar (USD) is rising against international peers on Friday after it was reported that a new stimulus package could not be in the making as previously expected. The Dollar Index (DXY) is up by 0.27% at 90.06. The index has been moving in the positive territory in a …
Read More » -
18 December 2020 9:18 pm
European Stocks End Friday in Red
European stocks closed Friday lower on the negative tone recently expressed by the United Kingdom (UK) and the European Union (EU) regarding trade talks for the post-Brexit stage. The STOXX Europe 600 index finished lower by 0.3%, with the retail sector leading the losses. The UK’s FTSE100 also settled lower …
Read More » -
18 December 2020 8:00 pm
UK: No-Deal Brexit Now Very Likely
It is now very likely that a no deal Brexit will be completed by the end of the year, a spokesman for the British Prime Minister Boris Johnson said on Thursday. Talks are in a serious situation and there is no room for an agreement unless the European Union (EU) …
Read More » -
18 December 2020 7:04 pm
Wall Street Opens Lower As Stimulus Hopes Decrease
Wall Street opened Friday lower, after a record-breaking session yesterday, amid decreased hopes for a new stimulus package. The Dow Jones Industrial Average is currently down by 74 points, or 0.24%, at 30,229.29 points. The S&P 500 declined by 11.22, or 0.30%, to reach 3,711.26 points. Meanwhile, the Nasdaq Composite …
Read More » -
18 December 2020 6:50 pm
Canada’s Retail Sales Rise in October
Retail sales in Canada continued to grow during October and rose by 0.4%, data by Statistics Canada showed on Friday. The total value of retail sales increased to $54.6 billion. This is the sixth consecutive monthly rise for Canadian retail sales, after recording an unprecedented decline in April due to …
Read More » -
18 December 2020 5:35 pm
British Factories See Smaller Drop in Orders in December
A survey on Friday showed that the decline in British factory orders eased in December as more parts of the economy reopened following a second nationwide lockdown to combat the spread of the Coronavirus. The Confederation of British Industry’s measure of monthly orders books in the manufacturing sector rose to …
Read More » -
18 December 2020 5:29 pm
Central Bank of Russia Keeps Key Policy Rate Unchanged at 4.25%
Russia’s central bank announced on Friday left its policy rate unchanged at 4.25% but reiterated that it will consider the necessity of further rate cuts at its upcoming meetings, as reported by Reuters.
Read More » -
18 December 2020 4:39 pm
US Dollar Increases Its Losses After a Week of Decline
The dollar exacerbated its losses, after a week of declining pushing it to its lowest level in two and a half years, as its decline attracted more short sellers seeking to make an easy profit. The dollar index recovered during the session and rose in recent trading 0.2% at just …
Read More » -
18 December 2020 3:35 pm
UK Retail Sales Drop in November With Stores Closed
British retail sales fell last month when a four-week lockdown in England caused stores selling non-essential goods to close, dropping clothing sales by about a fifth and adding to the hardships in some of the main stores hit hardest. The Office for National Statistics said retail sales volumes overall fell …
Read More » -
18 December 2020 2:34 pm
Eurozone Current Account Surplus Widened in October
Data from the European Central Bank showed that the revised current account surplus of the 19 Eurozone countries widened to 26.6 billion euros in October from 25.2 billion in September thanks to a rise in the contribution of trade in goods and services. In the twelve months to September, the …
Read More » -
18 December 2020 1:56 pm
Oil Retreating From a 9-Month Peak on Demand Concerns as COVID-19 Cases Soar
Oil prices fell on Friday, but remained close to the nine-month peak they reached in the previous session, as rising Covid-19 cases put pressure on demand for fuel and US lawmakers are fighting over a $900 billion economic stimulus package. US West Texas Intermediate crude futures fell 17 cents, or …
Read More »