Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 26 November 2020 12:20 am

  US Consumer Spending Rises While Incomes Decline

  

  Household spending in the United States increased more than what was expected during the month of October, data by the US Department of Commerce showed on Wednesday. Purchases increased by 0.5% on a monthly basis, after rising by 1.2% in September. Meanwhile, personal incomes declined by 0.7%.

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• 25 November 2020 10:54 pm

  European Stocks Close Nearly Unchanged

  

  European stocks closed Wednesday nearly unchanged, after achieving recent gains on restored political certainty in the US and positive news about Coronavirus vaccines, despite the surge in new cases and lockdown measures across the continent. The STOXX Europe 600 index finished marginally lower by 0.056%. In the UK, the FTSE100 …

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• 25 November 2020 9:17 pm

  US Crude Oil Inventories Decline Unexpectedly

  

  Crude oil inventories in the United States declined last week, against market expectations, data by the U.S. Energy Information Administration (EIA) showed on Wednesday. A decline of 800,000 barrels in the week that ended on November 20 means that crude stockpiles now stand at 488.7 million barrels. Meanwhile, gasoline inventories …

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• 25 November 2020 6:06 pm

  US: Trade Deficit Widens to $80.3 Billion in October

  

  The United States’ goods and services deficit rose by $0.9 billion to $80.3 billion in October from $79.4 billion in September, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Wednesday.

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• 25 November 2020 5:47 pm

  US Initial Jobless Claims Climb to 778K

  

  There were 778,000 initial claims for unemployment benefits in the US during the week ending November 21, the data published by the US Department of Labor (DOL) revealed on Wednesday. This reading followed last week’s print of 748,000 (revised from 742,000) and came in worse than the market expectation of …

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• 25 November 2020 5:47 pm

  US Real GDP Expands by 33.1% in Q3

  

  The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 33.1% in the third quarter, the US Bureau of Economic Analysis’ second estimate showed on Wednesday. This reading matched the initial estimate but came in lower than the market expectation of 33.2%.

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• 25 November 2020 5:46 pm

  US: Durable Goods Orders Rise by 1.3% in October

  

  Durable Goods Orders in the United States expanded by 1.3%, or $3 billion, on a monthly basis to $240.8 billion in October following September’s increase of 2.1% (revised from 1.9%), the US Census Bureau reported on Wednesday. This reading beat the market expectation of 0.9%.

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• 25 November 2020 5:44 pm

  UK PM Johnson: We’ll Only be Able to Make Progress if EU Accepts We Need to Control Waters

  

  British Prime Minister Boris Johnson reiterated on Wednesday that the UK’s position on fisheries hasn’t changed. “We’ll only be able to make progress in the European Union accepts we need to control waters,” Johnson added. “The government is taking tough decisions now to allow the economy to bounce back.” Johnson …

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• 25 November 2020 3:55 pm

  ECB Warning That Bank Profits Will “Remain Weak” Throughout The Next Year

  

  The European Central Bank warned in its latest review of financial stability that European banks will not see profits return to pre-pandemic levels before 2022. Euro-zone lenders have struggled to make big profits over the past decade in the wake of the 2008 global financial crisis, with stronger regulatory scrutiny …

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• 25 November 2020 3:19 pm

  China’s Imports of Crude Oil Decreased by 4% From Russia And by 30% From Saudi Arabia

  

  Russia and Saudi Arabia continued to lead suppliers of crude oil to China in October, but the quantities received from the two countries decreased compared to September levels as Chinese refineries curbed purchases of crude. According to data from the General Administration of Customs of China today, Wednesday, imports from …

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• 25 November 2020 2:20 pm

  Dollar Declining as Investors Seek High-Risk Assets

  

  The dollar suffered losses on Wednesday, November 25, due to progress in developing a vaccine for the Coronavirus and expectations of financial support from the new US government that led to the transfer of funds from the dollar to high-risk assets. The US currency recorded its lowest level in two …

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• 25 November 2020 1:38 pm

  Gold Declining as WH Begins Transition Process

  

  Gold fell on Wednesday, November 25, with the start of the official transition process for Joe Biden to the White House and optimism about vaccines for the Coronavirus, which reduces the appeal of gold as a safe haven. Gold spot fell 0.1% to 1805 dollars an ounce by 06:48 GMT. …

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• 25 November 2020 1:10 pm

  European Stocks Rise in Support of Easing And Vaccine Hopes

  

  European stocks held near their nine-month highs on Wednesday, November 25, as sentiment remained high, supported by an easing of restrictions linked to the Coronavirus in the region and growing hopes that a vaccine would soon be ready. The European Stoxx600 index rose 0.3%, as banking services stocks rose 1.6% …

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