Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 6 October 2020 11:40 pm

  Gold Prices Decline as USD Rises

  

  Gold futures closed lower on Tuesday, after opening the week at its highest level in about two weeks, as the US Dollar (USD) is showing some recovery signs. Gold futures for December delivery declined by $11.30, or 0.6%, and settled at $1,908.80 per ounce. Meanwhile, silver futures for December delivery …

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• 6 October 2020 11:07 pm

  Lighthizer: Trade Policies Working Despite Deficit

  

  The United States Trade Representative Robert Lighthizer said on Tuesday that the higher trade deficit in 2020 is mainly due to non-monetary gold imports, Reuters reported. According to Lighthizer, Donald Trump’s trade policies were working despite last month’s $67.1 billion trade deficit, which was the highest in 14 years. “Basically, …

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• 6 October 2020 9:53 pm

  Powell: Recovery is Far From Complete

  

  The United States Federal Reserve Chair Jerome Powell said on Tuesday that the US economy needs more stimulus and support efforts, as recovery is not yet complete and could still slip or change its direction into the negative territory if the COVID-19 crisis is not controlled effectively. Powell remarks came …

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• 6 October 2020 9:11 pm

  European Stocks Finish Higher

  

  European stocks closed Tuesday higher, amid improved risk sentiment after news about the discharge of Donald Trump from hospital. The Stoxx Europe 600 index finished higher by around 0.1%, supported by the gains of bank stocks. The UK’s FTSE100 gained 0.12%, while the French CAC40 added 0.48%. Meanwhile, the German …

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• 6 October 2020 6:45 pm

  US Job Openings Post First Decline in Four Months

  

  New job openings in the United States declined during the month of August, for the first time in four months, according to data by the US Department of Labor. Job openings decreased by 204,000 to 6.49 million last month, as per the monthly Job Openings and Labor Turnover Survey (JOLTS). …

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• 6 October 2020 6:00 pm

  FOMC Chairman Jerome Powell’s speech at NABE 62nd Annual Meeting – Live Stream

  

  Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks at the National Association for Business Economics’ 62nd Annual Meeting on Tuesday.

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• 6 October 2020 5:21 pm

  Canada’s International Merchandise Trade Deficit Expands to $2.4B

  

  Canada’s merchandise trade deficit with the world narrowed modestly to $2.4 billion in August from $2.5 billion in July, the data published by Statistics Canada showed on Tuesday. “After two months of strong growth, Canadian merchandise exports and imports stabilized in August. Imports fell 1.2%, while exports were down 1.0%,” …

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• 6 October 2020 5:07 pm

  US Trade Deficit Widens to $67.1 Billion in August

  

  The United States’ goods and services deficit rose by $3.7 billion to $67.1 billion in August, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Tuesday. This reading missed the market expectation for a deficit of $66.1 billion. “August exports were $171.9 …

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• 6 October 2020 4:05 pm

  ECB: Profitability of Eurozone Banks Collapsed in Q2

  

  The European Central Bank said Tuesday that the profitability of the largest banks in the euro area collapsed in Q2 of the year, although banks managed to keep their bad loan balances low. The bank stated in its quarterly statistics that the return on capital in the first half of …

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• 6 October 2020 3:04 pm

  Sunak: We Can’t Keep Borrowing Huge Sums in Long Term

  

  British Finance Minister Rishi Sunak said Tuesday that his country cannot continue to borrow huge sums in the long term because it is not sustainable for the economy. “It is clear that this year we have had to borrow huge sums to support the economy in a time of crisis, …

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• 6 October 2020 2:58 pm

  Gold Dropping After Trump Leaves Hospital

  

  Gold prices fell on Tuesday, while stocks rose after US President Donald Trump left the hospital after being treated for the Corona virus, but the weakness of the dollar limited the gains. Gold spot fell 0.1% to 1910.68 dollars an ounce, and yesterday it had recorded 1918.36 dollars, its highest …

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• 6 October 2020 2:55 pm

  Oil Maintains Gains After Trump Returns to The White House

  

  Oil prices rose in early trading Tuesday after US President Donald Trump returned to the White House from the hospital after being admitted to receive treatment for the Corona virus last Friday, while another hurricane swept through the Gulf of Mexico in the United States. Prices fell sharply last Friday …

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• 6 October 2020 12:50 pm

  RBA Keeps Interest Rates Unchanged

  

  The Reserve Bank of Australia kept interest rates at 25 basis points, the level it has maintained since March. Reserve Bank of Australia Governor Philip Lowe said the unemployment rate is an important national priority for the board, and hinted at more monetary easing to support the economy and jobs. …

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