Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 22 October 2020 11:53 pm

  Oil Recovers Most of Recent Losses

  

  Oil prices rose on Thursday on renewed hopes for another stimulus package in the United States, where a decline in jobless claims also helped improve the outlook for demand. Additionally, remarks that indicated that the OPEC+ alliance may prolong output cuts provided support for crude prices, as Brent crude futures …

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• 22 October 2020 11:44 pm

  Gold Finishes Lower as USD Rises

  

  Gold prices declined on Thursday as the US Dollar (USD) showed signs of recovery from its decline yesterday. In addition, remarks suggesting a near agreement for a new stimulus package in the United States supported risk appetite among investors and reduced demand for safe havens. Gold futures for December delivery …

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• 22 October 2020 11:41 pm

  GBP Declines Against USD and EUR

  

  The British Pound (GBP) retreated on Thursday, after showing a very strong performance yesterday that was supported by renewed hopes for a trade agreement between the United Kingdom (UK) and the European Union (EU) in the post-Brexit stage. The GBP is down against the US Dollar (USD) by 0.52%, with …

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• 22 October 2020 11:35 pm

  EUR/USD Gives Up Month-High

  

  The Euro (EUR) is declining against the US Dollar (USD) on Thursday, after finishing Wednesday at its highest level in about a month at 1.1861. The EUR/USD is down by 0.36% at 1.1818, after levelling down earlier as low as 1.1812. The pair’s decline comes amid a recovery by the …

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• 22 October 2020 11:17 pm

  Pelosi: New Stimulus Package is Pretty Close

  

  The United States Speaker of the House, Nancy Pelosi, said that talks for a new stimulus deal are showing progress. A deal could be reached pretty soon, Pelosi said in an interview with MSNBC on Thursday. “We’re on a good path.”“We’re coming closer.” Pelosi said on Wednesday that there remains …

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• 22 October 2020 10:15 pm

  DXY Recovers From Seven-Week Low

  

  The US Dollar (USD) is showing recovery signs on Thursday, after reaching its lowest level in seven weeks yesterday. The Dollar Index (DXY), which measures the performance of the USD performance against a basket of six international currencies, is up by 0.33% for the day at 92.92. The index has …

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• 22 October 2020 8:54 pm

  European Stocks Close Lower Amid Uncertainty

  

  European stocks finished Thursday lower, amid increased uncertainty among investors regarding the second wave of the COVID-19 pandemic and an anticipated stimulus package in the United States. The pan-continental STOXX Europe 600 index closed lower by 0.14%. In France, the CAC40 index slipped 0.05%, while the German DAX settled lower …

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• 22 October 2020 8:38 pm

  US Existing Home Sales at Record High

  

  Home sales in the United States rose to their highest level in 14 years during the month of September, data by the National Association of Realtors showed on Thursday. Existing home sales surged by 9.4% to a seasonally adjusted annual rate of 6.54 million units last month, its highest level …

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• 22 October 2020 7:43 pm

  US Natural Gas Inventories Rise in Week

  

  Natural gas inventories in the United States increased by 49 billion cubic feet last week, according to data by the US Energy Information Administration (EIA) The rise in gas stockpiles came below market expectations of a 51 billion cubic feet increase for the week ended October 16. Natural gas inventories …

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• 22 October 2020 5:52 pm

  S&P 500, Nasdaq Edge Higher as Investors Cling to Stimulus Hopes

  

  The S&P 500 and Nasdaq Composite Indexes rose slightly at the open Thursday as investors pinned to hope for new financial stimulus, while shares of the Dow Jones Industrial Average fell after new data indicated a slowing economic recovery. S&P 500 rose 2.94 points, equivalent to 0.09%, to reach 3,438.50 …

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• 22 October 2020 4:52 pm

  CBRT Keeps Interest Rates Unchanged

  

  On Thursday, the Turkish central bank kept interest rates unchanged at 10.25%, which was contrary to speculation of a large increase. A poll of 17 economists conducted by Reuters had expected the bank to raise its repurchase rate (repo) for a week 175 basis points, as forecasts ranged from increases …

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• 22 October 2020 4:39 pm

  US: Weekly Initial Jobless Claims Fall to 787K

  

  There were 787,000 initial claims for unemployment benefits in the US during the week ending October 16th, the data published by the US Department of Labor (DOL) revealed this Thursday. This reading followed last week’s print of 842,000 (revised from 898,000) and came in better than the market expectation of …

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• 22 October 2020 4:09 pm

  US Dollar Recovering From Its Lowest Level in Seven Weeks

  

  The dollar recovered from its lowest level in seven weeks, receiving some support after hopes for a fiscal stimulus package in the United States before the November elections collapsed. Progress towards a stimulus agreement in the United States was supporting sentiment in global markets and raising demand for riskier assets …

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