Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 5 November 2020 6:11 pm

  US: Unit Labor Costs Decline by 8.9% in Q3

  

  Unit Labor Costs in the US’ nonfarm business sector declined by 8.9% on a yearly basis in the third quarter, the data published by the US Bureau of Labor Statistics showed on Thursday. This reading followed an 8.5% (revised from 9%) increase in the previous quarter and came in better …

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• 5 November 2020 6:09 pm

  US: Weekly Initial Jobless Claims Decline to 751K

  

  There were 751,000 initial claims for unemployment benefits in the US during the week ending October 31st, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 758,000 (revised from 751,000) and came in worse than the market expectation of …

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• 5 November 2020 4:50 pm

  US: Challenger Job Cuts Decline to 7-Month Low in October

  

  Planned job cuts in the US-based employers declined to 80,666 in October from 118,804 in September, Challenger Gray & Christmas announced in its latest Job Cut Report on Thursday. “October’s total is 32% lower than the 118,804 cuts announced in September,” the publication read. “It is 60% higher than the 50,275 …

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• 5 November 2020 4:17 pm

  Oil Down by More Than 1% on US Election

  

  Oil prices fell Thursday, November 5, as Democratic candidate Joe Biden approaches victory in the exciting US presidential election, but Republicans are likely to retain control of the Senate, reducing the chances of implementing any major easing package from the repercussions of the Covid-19 pandemic. By 07:56 GMT, WTI futures …

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• 5 November 2020 3:34 pm

  US election: Trump Leads in Georgia With 96% of Votes Tallied, 49.6% vs. 49.2%

  

  US President Donald Trump has 49.6% and former Vice President Joe Biden has 49.2% in the battleground state of Georgia with 96% of votes tallied so far, Reuters reported, citing the latest data from Edison Research.

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• 5 November 2020 3:32 pm

  European stocks reach a two-Peak on Tech And Business Results

  

  European stocks reached a two-week high Thursday, November 5th, buoyed by a combination of strong business results and further stimulus for the British economy and the rise of Wall Street after the outcome of the US presidential election race became unpredictable. In its fifth day of gains, the European Stoxx600 …

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• 5 November 2020 2:53 pm

  Dollar Retreats on US Election And EUR/USD Surges

  

  The US dollar weakened against major currencies on Thursday as uncertainty over the US presidential election persists. This morning the euro was trading at 1.1799 against the dollar. The EUR/USD recently jumped to a weekly high above 1.18 as investors are optimistic about Biden’s victory in the elections. In the …

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• 5 November 2020 2:42 pm

  Gold Rises With Growing Caution About The Outcome of The US Election

  

  Gold prices rose in a limited range Thursday (November 5th), as investors expressed cautious optimism about Democratic candidate Joe Biden’s victory over his rival, President Donald Trump, in the close-range US presidential elections. Analysts expect Biden to likely take greater stimulus measures than his rival, the Republican president, although the …

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• 5 November 2020 1:54 pm

  EIA: Crude Inventories Fell Significantly in Past Week

  

  The US Energy Information Administration said on Wednesday that crude oil inventories in the United States fell significantly in the past week, while gasoline inventories rose and distillate stocks decreased. Crude stocks fell by 8 million barrels in the week to October 30, compared to analysts’ expectations in a Reuters …

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• 5 November 2020 1:28 pm

  BOE Minutes: The Level of Activity in The First Quarter is Expected to Remain Materially Lower Than in 2019 Q4.

  

  Following the BOE’s policy announcement, the central bank released the minutes of the meeting, with the key highlights found below (via Reuters). “Market participants attach some weight to the possibility of a negative bank rate.The market path for interest rates averages zero over the forecast period.Market-implied path for bank rate …

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• 5 November 2020 12:40 pm

  EIA: Weekly Crude Exports Fell to The Lowest Level Since January

  

  According to data from the US Energy Information Administration, weekly US crude oil exports fell by 1.2 million barrels per day to about 2.3 million barrels per day last week, the largest drop since January, as Hurricane Zita disrupted flows. Meanwhile, distillate stocks in the Gulf of Mexico in the …

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• 5 November 2020 11:43 am

  US Dollar Falling to Lowest Level in More Than Two Years Against Chinese Yuan

  

  The dollar fell to its lowest level in more than two years against the yuan and fell against other Asian currencies, with the Joe Biden approaching the White House in an exciting US presidential election. The pound weakened against the dollar and the euro after media reports that the Bank …

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• 5 November 2020 10:57 am

  US Election: Trump Leads in Pennsylvania and Georgia With 89% and 95% Votes Tallied

  

  US President Donald Trump maintains his lead over rival former Vice President Joe Biden in Pennsylvania as well as Georgia, with 89% and 95% of the respective votes counted so far, according to Edison Research. Trump has 50.7% while Biden has 48.1% of votes in Pennsylvania while in Georgia, the …

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