Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 31 December 2020 12:24 pm

  Gasoline Prices in The US Hit a 9-month High as Refiners Continue to Cut Production

  

  Gasoline prices in the United States hit a nine-month high, as drivers take to the roads in the holiday season, crude oil prices continue to rise and refiners continue to reduce fuel production due to weak profit margins. According to the American Automobile Federation, gasoline prices at gas stations exceeded …

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• 31 December 2020 12:21 pm

  Chinese Manufacturing PMI Fell to 51.9 in December

  

  The manufacturing PMI fell to 51.9 in December from 52.1 last November. The Chinese economy is expected to expand about 2% for the full year at the weakest pace in more than three decades. The official PMI showed that the new export orders sub-index stood at 51.3 in December, down …

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• 31 December 2020 12:15 pm

  Oil Prices Rise on Drop in US Crude Inventories

  

  Oil prices rose on Wednesday, supported by a larger-than-expected drop in crude stocks in the United States and Britain’s approval of a second anti-Corona virus vaccine, but it is under pressure from dwindling hopes for a strong recovery in demand. Brent crude futures, the global benchmark, ended the trading session …

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• 31 December 2020 12:12 pm

  Wall Street Closed Higher on Hopes of Economic Recovery

  

  US stocks rallied on Wednesday as investors looked for improved economic prospects in 2021 following the distribution of vaccines to prevent Covid-19 disease and hopes for more financial support. The Dow Jones Industrial Average ended the trading session on Wall Street, up 73.89 points, or 0.24%, to 30,409.56 points, while …

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• 31 December 2020 12:20 am

  Gold Finishes on Higher Note

  Gold prices finished Wednesday higher, supported by the decline of the US Dollar (USD) across the board. The yellow metal futures for February delivery closed higher by 0.6% at $1,893.40 per ounce. The DXY is down by 0.37% at 89.66.

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• 30 December 2020 9:36 pm

  British Parliament Approves Brexit Trade Deal

  

  The British parliament has approved on Wednesday the post-Brexit trade deal with the European Union (EU). This comes a couple of days before the end of the transition period after the government of Prime Minister Boris Johnson reached an agreement with the EU regarding future relations between the two parties …

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• 30 December 2020 9:32 pm

  European Stocks Finish Lower

  

  European stocks closed Wednesday on a lower note after the approval of the post-Brexit trade deal between the United Kingdom (UK) and the European Union (EU). The pan-European STOXX 600 index finished lower by 0.34%. The UK’s FTSE100 declined by 0.71%, while the French index CAC40 finished lower by 0.22%. …

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• 30 December 2020 9:21 pm

  What Will Move Oil Prices in 2021?

  

  The Coronavirus pandemic has severely impacted the global oil industry, with crude prices hitting lows not seen in decades amid a decline in demand for energy in 2020. After starting the year with oil prices at $70 per barrel, supported by the recovery that was helped by the OPEC+ alliance …

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• 30 December 2020 7:48 pm

  US Trade Deficit Widens in November

  

  Trade deficit in the United States rose by $4.4 billion to $84.8 billion in November, data showed on Wednesday. According to the US Census Bureau and the US Bureau of Economic Analysis exports of goods for November were $127.2 billion, $1.1 billion more than October exports, while imports of goods …

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• 30 December 2020 7:46 pm

  US Oil Stockpiles Down 6.1 M Barrels in Week

  

  Crude oil inventories in the United States declined by 6.1 million barrels last week, according to the weekly report by the U.S. Energy Information Administration (EIA).

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• 30 December 2020 7:42 pm

  USD Declines Across the Board

  

  The US Dollar (USD) is declining across the board on Wednesday, maintaining its downward trend. The Dollar Index (DXY), which measures the greenback’s performance against a basket of six major international currencies is down by 0.33% at 89.69. The index has been moving today in a range between 89.56 and …

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• 30 December 2020 7:18 pm

  Wall Street Opens Wednesday on Higher Note

  

  The main indices of the New York Stock Exchange (NYSE) opened Wednesday higher, supported by an improved investors’ sentiment in Wall Street. The Dow Jones Industrial Average is up by 116.5 points, or 0.38%, at 30,450.95 points. The S&P 500 gained 10.6 points, or 0.29%, at it is currently trading …

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• 30 December 2020 6:58 pm

  China and EU Reach New Investment Deal

  

  The European Union (EU) and China have reportedly reached an agreement to open the Chinese market to European investors, Bloomberg reported. The deal has been negotiated for a very long time, since 2013, and it could come effective as of 2022. The EU is focused on expanding economic opportunities in …

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