Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 26 October 2020 8:35 pm

  US New Home Sales Fall in September

  

  New homes sales in the United States decreased last month, against market expectations, data by the US Department of Commerce showed on Monday. New single-family home sales declined by 3.5% to a seasonally adjusted annual rate of 959,000 units in September. Meanwhile, the August reading was revised down to 994,000 …

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• 26 October 2020 6:10 pm

  OPEC’s Barkindo: Economic And Oil Demand Recovery Remain Anemic

  

  The Secretary-General of OPEC said today, Monday, that OPEC+ producers do not expect oil prices to collapse again, as happened in Q2, adding that members of the alliance “will not change course” in terms of rebalancing the market. “The economic and oil demand recovery remain anemic,” the Organization of Petroleum …

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• 26 October 2020 5:25 pm

  Oil Drops More Than 2% on Increased Coronavirus Cases

  

  Oil fell more than 2% on Monday, extending last week’s losses in light of the growing cases of Covid-19 disease in the United States and Europe, which raises concerns about the demand for crude, especially in light of the chances of increases in supply. Brent crude was down $ 1.25, …

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• 26 October 2020 5:02 pm

  Japanese Stocks Closed Lower on Caution Over Corporate Results

  

  Japanese stocks fell on Monday, as investors exercised caution ahead of a series of reports of company results, while sentiment was negatively affected by the growing cases of Coronavirus around the world. The benchmark Nikkei index fell 0.09% to 23,494.34 points, while the broader TOPIX index fell 0.39% to 1618.98 …

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• 26 October 2020 4:04 pm

  Dollar Rising Against Riskier Currencies as Hopes For US Stimulus Fade

  

  The dollar rose on Monday, as Traders proceeded to be cautious due to the increasing cases of Coronavirus in Europe and the United States, as well as the lack of progress in the US economic stimulus package. US House of Representatives Speaker Nancy Pelosi said on Sunday that she expected …

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• 26 October 2020 3:03 pm

  Turkish Lira in All-Time Low

  

  The Turkish lira fell against the US dollar below the 8 for the first time, with doubts surrounding the efforts of the Turkish Central Bank to support the Turkish currency with the escalation of geopolitical tensions. The Turkish lira fell 1.2% to $ 8.0088 on Monday, the largest decline compared …

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• 26 October 2020 2:12 pm

  German IFO Business Climate Index Misses Estimates

  

  The headline German IFO Business Climate Index came in at 92.7 in October, weaker than last month’s 93.2 while missing the consensus estimates pointing to a reading of 93.0. On the other hand, the IFO Expectations Index – indicating firms’ projections for the next six months, came in at 95.0 for …

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• 26 October 2020 1:40 pm

  Italy Records More Than 21,000 New Cases of Coronavirus, Largest Daily Jump

  

  Data released by the Ministry of Health in Italy on Sunday, October 25, showed a new record in the number of new cases of Coronavirus in one day, as it detected 21,273 cases and 128 deaths, while the government tightened restrictions further in an attempt to contain the expanding outbreak. …

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• 26 October 2020 12:23 pm

  Gold Dropping on USD Strength And Doubts About US Stimulus

  

  Gold fell below the psychologically critical $ 1900 level on Monday to record the lowest price in more than a week, on US Dollar strenth and the lack of progress in talks on a new US stimulus package. Gold spot fell 0.2%to $ 1897.35 an ounce by 0711 GMT, after …

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• 26 October 2020 11:34 am

  China: Will Impose Sanctions on US Entities Participating in Arms Sales to Taiwan

  

  China’s Foreign Ministry announced on Monday, it will impose sanctions on the US entities involved in the arms sales to Taiwan. Lockheed Martin, Boeing and Raytheon will be sanctioned, the Ministry said. Developing Story…

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• 26 October 2020 11:31 am

  AUD/USD Flirts With Session Lows

  

  The Australian dollar fell against the US dollar during the Asian session and was hovering near the lower end of the daily trading range, just above the 0.7100 mark. The pair saw some fresh sell-offs during the first day of the week and gave up the positive movement of the …

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• 26 October 2020 11:18 am

  PBOC Sets Yuan Reference Rate at 6.6725

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.6725 versus Friday’s fix at 6.6703.

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• 26 October 2020 11:17 am

  Japan Considers Compiling $95.5 Billion Extra Budget to Counter Coronavirus

  

  The Japanese government is said to compile an extra budget worth around $95.5 billion to counter the economic damage induced by the coronavirus pandemic, a local newspaper, Mainichi, reported over the weekend. The government is likely to debate using the 10 trillion yen ($95.52 billion) budget to extend a labour …

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