Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 30 October 2020 12:16 am

  Oil Closes at Lowest Level in Five Months

  

  Oil prices finished Thursday lower, at its lowest closing level in about five months, amid concerns about the rising number of Coronavirus cases and the recovery of the global economy and demand for energy. Brent crude futures for December delivery declined by $1.47, or 3.8%, to settle at $37.65 per …

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• 30 October 2020 12:00 am

  Gold Settles at Fresh Month-Low

  

  Gold prices declined on Thursday for the second consecutive session, as the US Dollar (USD) rally continued supported by strong economic growth during the third quarter of the year. Gold futures for December delivery fell by $11.20, or 0.6%, and finished at $1,868 per ounce, its lowest closing level since …

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• 29 October 2020 10:41 pm

  European Stocks Close Lower

  

  European stocks closed lower on Thursday, as concerns about the rising number of newly confirmed Coronavirus cases continued to dominate the market. The STOXX Europe 600 index finished lower by 0.15%, while the UK’s FTSE100 slipped by 0.02%. Similarly, the German index DAX decreased slightly by 0.03%, while the French …

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• 29 October 2020 8:32 pm

  USD Keeps Upward Trend on COVID-19 Fears

  

  The US Dollar (USD) is maintaining its rising trend amid increased demand on concerns about the rising number of COVID-19 cases. The Dollar Index (DXY), which measures the USD performance against a basket of six major international currencies, is up by 0.65% for the day at 94.02. The index has …

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• 29 October 2020 8:25 pm

  CAD Declines to Month-Low

  

  The Canadian Dollar (CAD) declined on Thursday against its US counterpart (USD) to its lowest level in about a month. This comes as the USD is recovering across the board, while the CAD remains hit by the falling oil prices. The USD/CAD is trading higher for the day by 0.24% …

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• 29 October 2020 7:40 pm

  OPEC+ Output Cuts Facing Uncertainty Next Year

  

  Major crude oil producers in the Arabian Gulf are considering whether to extend output curbs into 2021, Reuters reported. The current OPEC+ agreement indicates that by the end of the year, production cuts will be eased by 2 million barrels per day (b/d). However, it is widely expected that the …

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• 29 October 2020 7:26 pm

  US Pending Home Sales Down 2.2%

  

  The United States Pending Home Sales Index declined by 2.2% to 130, according to data by the National Association of Realtors released on Thursday. On an annual basis, pending home sales increased by 20.5%.

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• 29 October 2020 7:19 pm

  US Natural Gas Supplies Up 29 BCF in Week

  

  Natural gas inventories in the United States increased by 29 billion cubic feet last week, below market expectations, according to data by the US Energy Information Administration (EIA) on Thursday. Gas stockpiles now stand at 3.955 trillion cubic feet. This means an increase of 285 billion cubic feet compared with …

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• 29 October 2020 5:56 pm

  US Economic Activity Rebounds Sharply in Q3

  

  The United States’ Real Gross Domestic Product (GDP) expanded at an annual rate of 33.1% in the third quarter, the US Bureau of Economic Analysis’ advance estimate showed on Thursday. This reading came in better than the market expectation of +31% and followed the 31.4% contraction recorded in the second …

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• 29 October 2020 5:48 pm

  US: Weekly Initial Jobless Claims Decline to 751K

  

  There were 751,000 initial claims for unemployment benefits in the US during the week ending October 24th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s print of 791,000 (revised from 787,000) and came in slightly better than the market expectation …

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• 29 October 2020 5:23 pm

  ECB Leaves Key Rates Unchanged in October as Expected

  

  At its monetary policy meeting held on October 29th, the Governing Council of the European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as …

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• 29 October 2020 5:22 pm

  Germany: Annual HICP Drops to -0.4% in September

  

  Inflation in Germany, as measured by the Consumer Price Index (CPI), was 0.1% (preliminary) in October, the data published by Destatis showed on Thursday. This reading followed September’s print of -0.2% and came in higher than the market expectation of 0%. On a yearly basis, the CPI stayed unchanged at …

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• 29 October 2020 3:56 pm

  US Consumer Confidence Rebounds

  

  On Thursday, the Bank of Japan trimmed its forecast for the economy and prices in the current fiscal year, but revealed a more optimistic view about the chances of recovery, indicating that the stimulus measures it took are sufficient so far. The central bank warned that the outlook is shrouded …

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