Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 3 November 2020 4:15 pm

  GBP/USD Gains Some Strong Positive Traction on Tuesday

  

  The Sterling rose against the US Dollar to a 3-day high during the European session and trader are now looking for some subsequent buying that breaks through the psychological level of 1.3000. With the momentum beyond the resistance level specified at the upper bound of the descending about two weeks …

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• 3 November 2020 3:59 pm

  EU Commission: No Solution With Britain on Fisheries Yet

  

  A spokesperson for the European Commission said on Tuesday that they have not yet found a solution on fisheries with Britain, as reported by Reuters.  “Britain has not replied in time to the EU letter concerning the breach of the Withdrawal Agreement,” the spokesperson added. “The Commission will consider the …

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• 3 November 2020 2:39 pm

  IMF: The Crisis is Not Over, Keep Spending Wisely

  

  The International Monetary Fund (IMF) warned Monday, the coronavirus crisis is not yet over, urging economies to keep offering fiscal support to enabling a healthy recovery, per Reuters. “Support must be maintained throughout the crisis. A premature withdrawal of support would represent further damage to livelihoods and increase the likelihood …

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• 3 November 2020 2:08 pm

  Caution Limits Bullish Dollar’s Path Ahead of The Elections

  

  There was a state of caution Tuesday, hours before the polls open in the United States, as investors prepare for a possible wave of the volatility after the elections. The US dollar fell by 0.2% against a basket of currencies to trade at 93.831, and the dollar hit its highest …

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• 3 November 2020 1:13 pm

  Saudi Aramco Q3 Profit Slumps 44.6%

  

  Saudi Aramco, the world’s largest oil producer, said its third-quarter profit fell by 45% from last year’s level, largely due to lower crude oil prices and lower sales volumes. Aramco said in a statement today, Tuesday, that Aramco’s net profit amounted to 44.2 billion riyals (11.8 billion dollars), while sales …

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• 3 November 2020 12:19 pm

  Gold Declining And Investors Await The Results of The US Elections

  

  Gold prices fell on Tuesday, November 3, as cautious investors awaited the outcome of the US election, as Democratic candidate Joe Biden is a narrow lead in opinion polls over incumbent Donald Trump. And gold fell in the spot market 0.1% to 1892.73 dollars an ounce by 05:33 GMT. There …

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• 3 November 2020 11:31 am

  US: Construction Spending Rose Less Than Expected in September

  

  US construction spending rose less than expected in September, as a drop in spending on public projects overshadowed some of the private sector investment gains. The US Commerce Department said on Monday that spending on construction increased 0.3% in September. The ministry revised down data for August to show spending …

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• 3 November 2020 10:56 am

  FX Option Expiries For Nov 3 NY Cut

  

  FX option expiries for Nov 3 NY cut at 10:00 Eastern Time, via DTCC, can be found below. EUR/USD: EUR amounts 1.1650 622m1.1725 585m GBP/USD: GBP amounts 1.2850 684m1.3000 456m USD/JPY: USD amounts 105.00 425m105.49 1.1bn AUD/USD: AUD amounts 0.7000 686m EUR/GBP: EUR amounts 0.9000 720m

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• 3 November 2020 10:55 am

  US: ISM Manufacturing PMI Jumps to 59.3 in October

  

  The business activity in the US’ manufacturing sector expanded at an impressive pace in October with the ISM Manufacturing PMI jumping to 59.4 from 55.4 in September. This reading beat analysts’ estimate of 55.8 by a wide margin. Further details of the publication revealed that the Prices Paid Index rose …

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• 3 November 2020 10:24 am

  RBA Cuts Interest Rate to 0.10% From 0.25%

  

  The Reserve Bank of Australia cut the interest rate to 0.10%, in line with expectations from 0.25%. The bank cut its target for a three-year bond yield to 0.1% following the monthly board meeting and indicated its intention to purchase $ 100 billion in long-term government debt.

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• 3 November 2020 1:06 am

  Oil Posts First Gain in Four Days

  

  Oil prices rose for the first time in four sessions, supported by expectations that the OPEC+ alliance will continue the current output cuts for longer than previously estimated. Brent crude futures for January delivery rose by $1.03, or 2.7%, to close at $38.97 per barrel. Meanwhile, the West Texas Intermediate …

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• 2 November 2020 11:37 pm

  Gold Finishes Higher for Second Day

  

  Gold prices rose on Monday for the second consecutive session, amid increasing uncertainty about the second wave of the COVID-19 pandemic and the US elections. The yellow metal futures for December delivery closed higher by $12.60, or 0.7%, at $1,892.50 per ounce. This comes after gold futures recorded an 0.8% …

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• 2 November 2020 10:10 pm

  Eurozone’s Economy Expected to Contract by 2.3% in Q4

  

  The Eurozone gross domestic product (GDP) is expected to shrink by 2.3% during the fourth quarter (Q4) of 2020, according to recent forecasts by Goldman Sachs. The bank has lowered its expectations for the European bloc, after it previously estimated a contraction of 2.2%. Meanwhile, Q1 of 2021 is expected …

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