Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 9 December 2020 2:47 pm

  Dollar Falls as Vaccine Optimism Undermines Demand For Safe Havens

  

  The dollar fell in Asia on Wednesday (December 9th), as signs of progress in the fight against the Covid-19 pandemic undermined demand for safe assets, while the pound was facing anxious anticipation ahead of a meeting of leaders seeking to salvage a trade deal of Brexit The US currency fell …

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• 9 December 2020 1:55 pm

  A Smaller-Than-Expected Increase in German Exports in October

  

  German exports increased less than expected in October, but foreign trade continued to provide a boost to Europe’s largest economy at the start of the fourth quarter of the year as it struggled to avoid a slide into deflation. The Federal Statistics Office said on Wednesday that exports, adjusted for …

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• 9 December 2020 1:18 pm

  Oil is Rising, And Hopes For The Vaccine Suggest an Increase in US Stocks

  

  Oil prices rose on Wednesday, December 9th, to reduce crude losses incurred earlier, amid positive news about Covid-19 vaccines that boosted investors’ hopes for a recovery in fuel demand, which overshadowed concern about an unexpected jump in US oil stocks last week. Brent crude rose 11 cents, equivalent to 0.2%, …

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• 9 December 2020 12:41 pm

  Gold Dropping From a Two-Week High as Stocks Rise on Vaccine

  

  Gold prices retreated from a two-week peak on Wednesday, December 9, as encouraging developments for the Coronavirus vaccine prompted investors to buy high-risk stocks as global stocks rose to record levels. Gold fell in the spot market 0.7% to $ 1858.80 an ounce, after hitting the highest level since November …

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• 9 December 2020 5:25 am

  EU May Need Another Summit to Discuss Budget

  

  The Prime Minister of Poland, Mateusz Morawiecki, said on Tuesday that another meeting for the leaders of the European Union (EU) could be necessary to agree on the next budget and coronavirus recovery fund, Reuters reported. “It may happen that another summit will be necessary… maybe there will be more …

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• 9 December 2020 2:22 am

  US Oil Inventories Up 1.1 M Barrels – API

  

  Data by the American Petroleum Institute (API) showed on Tuesday that crude oil inventories in the United States increased by 1.1 million barrels last week. Meanwhile, gasoline stockpiles grew by 6.4 million barrels, and distillate inventories rose by 2.3 million barrels.

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• 9 December 2020 2:04 am

  NYSE Closes Tuesday in Green

  

  The New York Stock Exchange (NYSE) finished Tuesday on a higher note, amid renewed hopes for a new government stimulus package. The Dow Industrial Average rose by 104.09 points, or 0.35%, to close at 30,173.88 points. The S&P 500 closed at 3,702.25 points, gaining 10.29 points, or 0.28%. Meanwhile, the …

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• 9 December 2020 2:00 am

  US Treasury Yields Mostly Decline

  

  Treasury yields in the United States declined on Tuesday, amid growing anticipation for a new stimulus package with talks still ongoing. This also comes amid the rise in the number of Coronavirus cases. Return on the 10-year Treasury bond decreased by 1.5 basis points to 0.913%, after falling earlier below …

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• 9 December 2020 1:42 am

  Oil Ends on Mixed Note Amid Recovery Concerns

  

  Oil prices showed a mixed performance on Tuesday, amid increasing concerns about the rising number of Coronavirus cases. Brent crude futures for February delivery rose by 0.10% and finished at $48.84 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for January delivery declined by 0.4% and settled at …

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• 9 December 2020 1:24 am

  Gold Settles at Highest Level in Three Weeks

  

  Gold prices rose on Tuesday for the second consecutive session, amid the decline in the US treasury yields and despite a rise by the US Dollar (USD) and renewed hopes for a new government stimulus package in the United States. Gold futures for February delivery added $8.90, or 0.5%, and …

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• 9 December 2020 12:24 am

  US Unit Labor Costs Decline in Q3

  

  Unit labor costs in the United States declined during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday. The price of labor for each unit of output decreased by 6.6%, compared with a previously estimated 8.9%. It is worth noting that during …

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• 8 December 2020 11:09 pm

  US Nonfarm Productivity Rises in Q3

  

  Nonfarm worker productivity in the United States grew during the third quarter (Q3) of the year, data by the US Department of Labor showed on Tuesday. This comes as the US economy, and especially the services sector, is recovering from the impacts of the Coronavirus crisis. Hourly output per worker …

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• 8 December 2020 10:18 pm

  Germany Suspends Debt Ceiling Again

  

  The German parliament on Tuesday suspended, once again, the debt limits in the constitution to allow for increased government borrowing of up to EUR 180 billion in 2021, Reuters reported. The increased government debt aims at funding stimulus spending to help Europe’s largest economy face the economic consequences of the …

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