Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 20 October 2020 5:38 pm

  Reuters: Russia May Support an Extension of Global Oil Cuts After 2020

  

  Two industry sources told Reuters that Russia may support keeping global oil production cuts unchanged after 2020 when it is time to ease them if global market conditions deteriorate due to slowing demand and increasing cases of coronavirus. Russian Energy Minister Alexander Novak said last week that OPEC + would …

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• 20 October 2020 4:15 pm

  European Commission: Willing to Intensify Brexit Talks With UK

  

  The European Commission announced in an official statement on Brexit, showing the willingness to intensify talks with the UK. In order for a deal to happen, both sides need to meet, the statement added further. The statement also confirmed that the EU’s chief Brexit negotiator Michel Barnier will speak to …

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• 20 October 2020 3:46 pm

  German Finance Ministry: Debt is Expected to Rise to 71% of GDP

  

  A German Finance Ministry document showed, Tuesday, that Germany’s debt level is likely to reach 71% of GDP, as the country spends more to mitigate the repercussions of the Coronavirus pandemic. The document showed that the expected level next year is at 70.25% of GDP, due to the expected recovery …

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• 20 October 2020 2:59 pm

  Oil Prices Stable But Concerns About Corona Cases And Supplies Persist

  

  There was little change in oil prices on Tuesday, to stabilize after suffering losses over three days due to fears that the increase in cases of Coronavirus globally would impede the recovery of demand for fuel while the increase in Libyan production leads to an abundance of supplies. Brent crude …

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• 20 October 2020 2:55 pm

  The Eurozone Current Account Surplus widened in August

  

  Data from the European Central Bank showed on Tuesday that the current account surplus of the 19-nation eurozone widened to 19.9 billion dollars in August from 17 billion euros in July thanks to a higher trade surplus and a lower primary income deficit. In the 12 months to August, the …

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• 20 October 2020 1:38 pm

  Japan Shares Closed Lower on Caution About US Stimulus

  

  Japanese stocks closed lower on Tuesday, tracking down on Wall Street’s losses overnight, while investors are cautiously watching whether US projectors will be able to strike a deal on a stimulus package as the deadline approaches. The Nikkei index fell 0.44% to 2,3567.04 points at the close, while the broader …

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• 20 October 2020 12:32 pm

  Gold in a Narrow Range Due to Caution About US Stimulus

  

  Gold traded on Tuesday in a narrow range above $ 1900 an ounce, as caution prevailed ahead of a deadline for an agreement on a new US stimulus package to mitigate the repercussions of the Coronavirus and the presidential elections scheduled for next month. Gold fell 0.2% to 1,901.10 dollars …

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• 20 October 2020 1:23 am

  Wall Street Finish Lower Ahead of Stimulus Deadline

  

  The New York Stock Exchange (NYSE) showed a fluctuating performance on Monday, before closing the first session of the week in losses, amid worries in Wall Street about the passing of a new stimulus package to support the economy against the Coronavirus (COVID-19) pandemic. The Speaker of the House of …

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• 20 October 2020 1:18 am

  Russian Central Bank to Hold Rates Steady

  

  The Central Bank of Russia is expected to maintain interest rates unchanged on Friday, according to a Reuters poll on Monday. The majority of participating analysts, 25 out of 29 believe the main rate will be kept unchanged at 4.25%. In September, the Russian Central Bank kept the key interest …

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• 20 October 2020 1:15 am

  Oil Prices Settle Lower on COVID-19 Concerns

  

  Oil prices declined on Monday, despite the OPEC+ reiterating commitment for output cuts, amid concerns about the impact of the second wave of the Coronavirus pandemic on the global demand. Brent crude futures for December delivery closed lower by 31 cents, or 0.7%, at $42.62 per barrel. Meanwhile, the West …

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• 19 October 2020 11:49 pm

  Gold Finishes Higher as USD Declines

  

  Gold prices rose on Monday, opening the week with a positive performance amid uncertainties that supported demand for safe havens. In addition, a decline by the US Dollar (USD) supported the gains of the yellow metal. Gold futures for December delivery closed higher by $5.30, or 0.3%, at $1,911.70 per …

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• 19 October 2020 10:24 pm

  Fed’s Clarida: Economic Recovery Will Need Time

  

  The Vice Chair of the United States Federal Reserve, Richard Clarida, said on Monday that the US economy is recovering from the COVID-19 crisis but would need more time to return to its levels prior to the pandemic. “While recovery since the spring collapse in economic activity has been robust, …

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• 19 October 2020 9:54 pm

  Turkey Expected to Hike Rates by 1.75%

  

  The Central Bank of Turkey is expected to raise its main interest rate by 175 basis points to 12% this week, according to a Reuters poll. Despite a surprise 2% increase in interest rates last month, the Turkish Lira (TRY) declined by 4% against the US Dollar (USD), continuing its …

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