Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 2 December 2020 1:17 pm

  Gold Declining Amid Doubts About US Stimulus Package

  

  Gold fell on Wednesday 2 December, as investors were cautiously dominated due to doubts about progress in the stimulus package in the United States, while reports of developments regarding the Covid-19 vaccine added pressure. Spot gold prices fell 0.3% to $ 1808.67 an ounce after an increase of more than …

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• 2 December 2020 12:44 pm

  Britain Allows The Use of The Pfizer-BioNTech Vaccine

  

  The United Kingdom has become the first country in the world to authorize the Pfizer and BioNTech coronavirus vaccine, making it available as of next week. “The government today accepted the MHRA recommendation to approve the use of the Pfizer-BioNTech Covid-19 vaccine,” the government said. And “the vaccine will be …

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• 2 December 2020 3:26 am

  Fed and Treasury Call for New Stimulus

  

  The Chairman of the United States Federal Reserve, Jerome Powell, warned on Tuesday that the negative impacts from the Coronavirus pandemic could lead to greater inequality. Powell also called for greater government support, the New York Times reported. “There is a great risk of the pandemic making them worse,” Powell …

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• 2 December 2020 2:22 am

  NYSE Closes on Multiple New Records

  

  The New York Stock Exchange (NYSE) saw a record-breaking performance on Tuesday, supported by an improved sentiment regarding a possible agreement on a new stimulus package. The Dow Jones Industrial Average broke the 30,000-point level once again and reached 30,046 earlier in the session, before closing higher by 185.28 points, …

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• 2 December 2020 2:06 am

  Oil Closes at Lowest Level in Week

  

  Oil prices fell on Tuesday to their lowest level in about a week, after the OPEC+ alliance delayed its decision regarding output cuts, in a move that was somehow expected. Brent crude futures for February delivery fell by 46 cents, or 1%, at $47.42 per barrel. West Texas Intermediate (WTI) …

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• 2 December 2020 1:54 am

  Copper Reaches Highest Levels in More than Seven Years

  

  Copper futures rose on Tuesday to their highest level in about seven years, continuing a strong rally supported by increased demand and strong investors’ appetite for the red metal. Strong manufacturing data in China, and relatively in the United States, are also providing support for copper. Copper futures for March …

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• 2 December 2020 12:57 am

  Gold Shows Strong Recovery as USD Declines

  

  Gold prices recovered on Tuesday from its lowest level in about five months, logging its biggest daily rise in about three weeks. This comes as the US Dollar (USD) declined across the board following the release of mixed economic data. Gold futures for February delivery gained $38, or 2.1%, to …

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• 2 December 2020 12:40 am

  Fed’s Daly: Easy Policy Must be Maintained

  

  The President of the Federal Reserve Bank of San Francisco, Mary Daly, said on Tuesday that the United States Federal Reserve needs to maintain its monetary easing policy during the economic recovery from the Coronavirus crisis to achieve its targets, Reuters reported. “Hitting or exceeding 2% inflation for a few …

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• 1 December 2020 10:48 pm

  European Stocks Open December in Green

  

  European stocks opened the month of December with a positive performance on Tuesday, as the STOXX Europe 600 index gained 0.65% and finished at 391.90. In the UK, the main index of the London Stock Exchange (LSE), FTSE100, surged by 1.89%. In France, the CAC40 index gained 1.14%. Meanwhile, the …

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• 1 December 2020 10:19 pm

  ISM Manufacturing PMI Declines in November

  

  Economic activity in the manufacturing sector in the United States expanded during November, with the overall economy notching a seventh consecutive month of growth, according to Tuesday’s data by ISM. The November Manufacturing Purchasing Managers’ Index (PMI) registered 57.5 percent, down 1.8% from the October reading of 59.3 percent. This …

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• 1 December 2020 10:14 pm

  Canada’s Manufacturing Activity Expands in November

  

  Manufacturing activity in Canada maintained a good expansion pace last month, data showed on Tuesday. The headline seasonally adjusted IHS Markit Canada Manufacturing Purchasing Managers’ Index (PMI) registered 55.8 in November, up from 55.5 in October. The headline index has now posted above the 50.0 no-change threshold in each month …

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• 1 December 2020 9:29 pm

  US Manufacturing PMI Surges in November

  

  The IHS Markit United States Manufacturing Purchasing Managers’ Index (PMI) showed during November the biggest improvement in operating conditions since September 2014. This comes as the seasonally adjusted IHS Markit final U.S. Manufacturing PMI posted 56.7 last month, up from 53.4 in October. It was also the seventh successive monthly …

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• 1 December 2020 7:15 pm

  British Consumer Confidence Improves on Vaccine Progress

  

  Consumer confidence in the United Kingdom (UK) slightly rose during, data by YouGov showed on Tuesday, Reuters reported. This comes on the back of positive vaccine news. The YouGov index for consumer confidence in Britain increased to 102.3, up from 101.4 in the prior month.

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