Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 2 November 2020 9:37 pm

  Russian Ruble Hits Record Lows

  

  The Russian Ruble (RUB) declined on Monday against the US Dollar (USD) and the Euro (EUR), on the back of falling oil prices, and rising uncertainty about the new wave of the COVID-19 pandemic and the US elections. Year to date, the RUB has lost 23% against the USD and …

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• 2 November 2020 9:28 pm

  GBP Declines Ahead of New Lockdown

  

  The British Pound (GBP) declined on Monday as the United Kingdom (UK) prepares to enter into a new lockdown to curb the spread of the Coronavirus (COVID-19) pandemic. The GBP is down by 0.34% against the Euro (EUR), with the GBP/EUR pair trading at 1.1085. Meanwhile, the Sterling losses came …

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• 2 November 2020 8:41 pm

  USD Rises Ahead of US Elections

  

  The US Dollar (USD) is rising across the board, supported by positive economic data ahead of tomorrow’s elections. The Dollar index (DXY), which measures the performance of the USD against a basket of six major international currencies, is up by 0.12% at 94.15. The index has been moving today in …

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• 2 November 2020 8:37 pm

  USD/CHF at Two-Month High

  

  The US Dollar (USD) is keeping its upward trend against the Swiss Franc (CHF) on Monday for the sixth consecutive session, rising to its highest level in about two months. The USD/CHF pair is trading higher for the day by 0.36% at 0.9203. The last time the pair was seen …

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• 2 November 2020 6:43 pm

  Finland Calls for Reviewing ECB Strategy

  

  The Governor of the Bank of Finland, Olli Rehn, said on Monday that the European Central Bank (ECB) needs to continuously review its strategy. “I would consider it a good idea that going forward we would review the ECB’s monetary policy strategy regularly, for instance every five years.”“We have detached …

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• 2 November 2020 6:29 pm

  Russian Oil Companies Looking at Possible Extent of Production Cuts Q1 2021

  

  Interfax news agency reported, citing sources, that senior managers of Russian oil companies discussed with Energy Minister Alexander Novak a possible extension of the current oil production cuts to include the first quarter of 2021. Interfax, citing a source, said that oil companies favor an extension of the existing cuts …

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• 2 November 2020 6:01 pm

  Goldman Sachs Cuts Its European Growth Forecast For Q4 2020

  

  US investment bank Goldman Sachs sharply cut its economic forecast for Europe in Q4 of the year after a jump in COVID-19 cases prompted major countries to announce partial closures in November. The bank said it expected real GDP in the euro area to shrink 2.3% in Q4, a major …

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• 2 November 2020 5:01 pm

  Gold is Rising Amid a State of Caution Ahead of The US Elections

  

  Gold prices rose on Monday, November 2, as investors continued to worry about the US presidential elections and an increase in COVID-19 cases, as well as economic concerns exacerbated by renewed isolation measures in some countries. Spot gold rose 0.5% to $ 1886.66 an ounce by 10:18 GMT, while US …

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• 2 November 2020 4:17 pm

  Volatility For Euro And Yen Increased to Highest Level Since April Ahead of US Elections

  

  Weekly fluctuations in the euro and the yen increased to their highest levels since the beginning of April, Monday, November 2, indicating concern among dealers ahead of the US presidential elections scheduled for Tuesday. The dollar rose as investors prepared for the presidential elections, while a rise in global coronavirus …

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• 2 November 2020 3:37 pm

  Japanese Factory Activity Declined For The 18th Consecutive Month

  

  Japanese factory activities declined for the eighteenth consecutive month in October, an unprecedented period due to weak production, new projects, and employment, but export orders grew for the first time in two years, in an encouraging indicator of the economy ravaged by the coronavirus pandemic. The world’s third-largest economy is …

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• 2 November 2020 3:06 pm

  Strong Chinese Data Raises German stocks And London Drops on Lockdown Fears

  

  Most of the European markets started trading in November on a positive note, as the acceleration of Chinese factory activities helped ease concerns about a second wave of the outbreak of Covid-19 that caused the re-imposition of closures in major economies. The German DAX index, which is based on trade, …

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• 2 November 2020 2:21 pm

  The Chinese Manufacturing Sector Shows Expansion For The Sixth Consecutive Month

  

  A survey showed that factory activity in China expanded for the sixth consecutive month in October, as business confidence grew to its strongest levels in years. The Caixin / Markit PMI for Chinese manufacturing came in at 53.6 for the month of October, better than analysts’ expectations of 53.0 in …

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• 2 November 2020 1:08 pm

  Turkish Lira at Fresh Lows Against USD

  

  The Turkish lira weakened against the US dollar to a new record low on Monday, November 2nd, as investors looked at the impact of geopolitical tensions and political interference on monetary policy. The lira was at 8.3840 against the dollar by 04:28 GMT, approaching the record low of 8.3850 it …

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