Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 15 October 2020 11:12 pm

  Fed’s Mary: More Stimulus is Needed for Recovery

  

  President of the Federal Reserve Bank of San Francisco, Mary Daly, said on Thursday that in order for the monetary policy objective of achieving economic recovery, extra stimulus by the government is needed, Reuters reported. “These two things need to come together or else we will have an incomplete solution,”

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• 15 October 2020 9:08 pm

  Trump Hints at New Stimulus Package

  

  The President of the United States, Donald Trump, said on Thursday that he could support a new stimulus package worth more than the $1.8 trillion he offered last week, which was rejected by the Democrats. This comes after the US Treasury Secretary, Steven Mnuchin, said he does not expect a …

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• 15 October 2020 8:41 pm

  European Stocks Losses Exceed 2%

  

  European stocks saw huge losses on Thursday, amid increasing concerns about the second wave of COVID-19 across the old continent. The Stoxx Europe 600 index closed lower by 2.10% at 362.83 points, its worst daily performance in more than three weeks. The German DAX index finished lower by about 2.5%, …

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• 15 October 2020 8:31 pm

  Turkish Lira Hits New Record Low

  

  The Turkish Lira (TRY) hit another record low on Thursday as the USD/TRY pair reached 7.95, getting close to an unprecedented level of 8. Ankara’s monetary policy has been heavily criticized as it is failing to stop the local currency’s wounds. USD/TRY is currently trading at 7.9323, up by 0.28% …

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• 15 October 2020 8:24 pm

  ECB to Be Cautions with Expanding Bond Buying

  

  The European Central Bank (ECB) is expected not to expand emergency stimulus despite the increasing number of Coronavirus (COVID-19) cases, which is set to lead to renewed lockdowns. Nonetheless, the ECB is not expected to expand its bond purchases this month, according to a recent report by Bloomberg. It is …

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• 15 October 2020 7:32 pm

  Lagarde: Eurozone Financial Risks on the Rise

  

  President of the European Central Bank (ECB), Christine Lagarde, said on Thursday that financial stability risks are rising in the Eurozone due to an increase in debt levels, Reuters reported. “The euro area economy will continue to be supported by very accommodative monetary and fiscal policies along with an expected …

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• 15 October 2020 6:39 pm

  US: Weekly Initial Jobless Claims Rise to 898K

  

  There were 898,000 initial claims for unemployment benefits in the US during the week ending October 10th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 845,000 (revised from 840,000) and came in worse than the market expectation of …

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• 15 October 2020 6:22 pm

  US: NY Empire State Manufacturing Index Drops to 10.5 in October

  

  The headline General Business Conditions Index of the NY Fed’s Empire State Manufacturing Survey declined to 10.5 in October from 17 in September. This reading missed analysts’ estimate of 15. “36% of respondents reported that conditions had improved over the month, while 25% reported that conditions had worsened.” “The new …

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• 15 October 2020 6:18 pm

  Canada: ADP Employment Change Arrives at -240.8K for September

  

  Employment in Canada decreased by 240,800 from August to September, the monthly data published by the ADP Research Institue revealed on Thursday. This reading followed August’s print of -770, 600 (revised from -205,400).

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• 15 October 2020 6:16 pm

  US: Philly Fed Nonmanufacturing Index Rises to 8

  

  The headline Diffusion Index of the Federal Reserve Bank of Philadelphia’s Manufacturing Business Outlook Survey rose to 32.3 in October from 15. This reading beat analysts’ estimate of 14 by a wide margin.

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• 15 October 2020 4:05 pm

  Confirmation Of easing Inflation Decline France during September

  

  The consumer price index in France declined during September on a monthly basis, according to analysts’ expectations. Final data issued by the French National Institute of Statistics and Economic Studies showed today, Wednesday, that the inflation rate in France recorded -0.5% during the month of September on a monthly basis, …

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• 15 October 2020 3:29 pm

  Britain Imposing Tougher Restrictions on London in an Effort to Curb Rapid Spread of Coronavirus

  

  The UK government has imposed tougher restrictions on London to try to stop the spread of the Coronavirus. The UK capital will move to the so-called “high” alert level as of midnight Friday, up from the current “medium” alert level. This means that millions of people in the richest city …

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• 15 October 2020 2:54 pm

  Australian Dollar at lowest Level in a Week And Risk Aversion Supports USD

  

  The Australian dollar fell to its lowest level in a week after the head of the central bank hinted at a possible rate cut or bond purchase. In general, the atmosphere of risk aversion kept the US dollar supported and the rest of the major currencies on the defensive, unlike …

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