Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 24 December 2020 11:09 am

  Currencies Overview: GBP Rising and USD Under Threat Amid Hopes of a Near Brexit Deal

  

  The British pound extended gains Thursday, December 24, amid expectations that an agreement related to Britain’s exit from the European Union is imminent after a long period of being considered difficult to achieve, which raises hopes that Britain will be able to avoid an economic disruption with the beginning of …

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• 24 December 2020 10:53 am

  BOJ’s Kuroda: Japan’s Economy Likely to Improve Moderately as a Trend

  

  “Japan’s economy is likely to improve moderately as a trend,” the Bank of Japan (BOJ) Governor Haruhiko Kuroda said in a scheduled speech at the Japan Business Federation’s Board of Councillors Meeting, in Tokyo. There is high uncertainty for economic outlook as it will likely take time for vaccines to …

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• 24 December 2020 10:36 am

  Turkish Lira Drops Slightly Ahead of Rate Decision

  

  The Turkish lira fell 0.45% against the US dollar ahead of a central bank meeting on interest rates, in which the bank is expected to raise its benchmark interest rate by 150 basis points. The currency reached 7.6590 against the dollar, a level just below its closing price on Wednesday …

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• 24 December 2020 12:00 am

  Oil Settles Higher After Two Declines

  

  Oil prices rose on Wednesday, showing positive recovery signs after two consecutive declines, supported by a decline in crude inventories in the United States. In addition, the decline of the US Dollar (USD) and renewed hopes for a Brexit trade deal are providing support for crude prices. Brent crude futures …

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• 23 December 2020 11:00 pm

  Gold Rises After Two Declines

  

  After two consecutive declines this week, gold prices rose on Wednesday, supported by a decline by the US Dollar (USD) on the back of mixed economic data. Gold futures for February delivery rose by $7.80, or 0.4%, to finish at $1,878.10 per ounce. Meanwhile, Silver futures for March delivery added …

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• 23 December 2020 10:30 pm

  US Natural Gas Storage Declines 4.1% in Week

  

  Natural gas storage in the United States declined last week by 152 billion standard cubic feet (bscf) to stand at a total of 3,574 bscf, declining by around 4.1%, according to data by the U.S. Energy Information Administration (EIA) on Wednesday. On an annual basis, natural gas inventories rose by …

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• 23 December 2020 9:33 pm

  US Crude Oil Inventories Down 0.6 M Barrels

  

  Crude oil inventories in the United States declined by 600,000 barrels last week, as shown by the data of the US Energy Information Administration (EIA) on Wednesday. Meanwhile, gasoline inventories declined by 1.1 million barrels, and distillate stockpiles fell by 2.3 million barrels.

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• 23 December 2020 9:24 pm

  US Consumer Sentiment Index Declines

  

  The United States consumer sentiment index, issued by the University of Michigan, declined to 80.7 in December from an initial reading of 81.4 earlier this month. It is worth noting that in November the index registered 76.9 points. The current conditions index increased to 90 from 87 last month. The …

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• 23 December 2020 9:06 pm

  Brexit Trade Deal Could Be Imminent

  

  A Brexit trade deal could be imminent, with just eight days left until the end of the transition period, Reuters reported citing a senior European diplomat on Wednesday. However, according to another European diplomat, a no-deal Brexit remains a possibility. The European Union (EU) is reportedly making a final push, …

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• 23 December 2020 8:03 pm

  US New Home Sales Drop in November

  

  New home sales in the United States declined during the month of November, data by the US Department of Commerce showed on Wednesday. New home sales decreased by 11% to a seasonally adjusted annual rate of 841,000 units last month. The October reading was revised to 945,000 units from a …

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• 23 December 2020 6:40 pm

  US: Weekly Initial Jobless Claims Fall to 803K

  

  There were 803,000 initial claims for unemployment benefits in the US during the week ending December 19, the data published by the US Department of Labor (DOL) revealed on Wednesday.

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• 23 December 2020 6:39 pm

  US: Durable Goods Orders Rise by 0.9% in November

  

  Durable Goods Orders in the United States expanded by 0.9%, or $2.2 billion, on a monthly basis to $244.2 billion in November, the US Census Bureau reported on Wednesday. This reading came in higher than analysts’ estimate for an increase of 0.6%.

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• 23 December 2020 6:19 pm

  Gold Rises as The Dollar Falls After Trump Threatens Not to Sign The Stimulus

  

  Gold prices rose slightly on Wednesday, December 23, after US President Donald Trump threatened not to sign the pandemic relief bill, sparking a drop in the dollar. The spot price of gold was up 0.1% to $ 1860.81 an ounce, while US gold futures fell 0.3% to $ 1864.60 an …

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