Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 4 December 2020 3:52 pm

  Euro Breaking Through Resistance levels And Dollar Near Its Lowest Level in Two And a Half Years

  

  Today, Friday, the euro is heading towards recording its best weekly performance in a month and breaching large previous resistance levels as investors flock to bet that the US dollar will decline further as the world begins emerging from the Covid-19 pandemic. And the single European currency is up 1.5% …

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• 4 December 2020 2:33 pm

  Gold on Track For a Weekly Gain

  

  Gold prices stabilized today, Friday, and is heading towards achieving its first weekly gain in 4 weeks, as the dollar retreated due to growing hopes for an American stimulus, and before the release NFP due at a later time. Today. The gold spot was little changed at $1840.75 an ounce, …

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• 4 December 2020 1:50 pm

  Energy Sector Leads The Gains in European Equities

  

  European stocks rose on Friday, as energy stocks pushed the leading companies ’index in London to a nine-month high, while Bionics fell after Pfizer cut its target to distribute their Covid-19 vaccines. Britain’s FTSE 100 index gained 0.5% as energy shares advanced after a settlement was reached among OPEC+ members …

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• 4 December 2020 12:57 pm

  German Industrial Orders Rose More Than Expected in October

  

  Data on Friday showed that German industrial goods orders increased more than expected on a monthly basis in October, raising hopes that the manufacturing sector in Europe’s largest economy started the fourth quarter of the year with a strong performance. Data published by the Federal Statistics Office show that orders …

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• 4 December 2020 12:44 pm

  Nikkei Down From a Multi-Decade High on Concerns About Vaccine Supplies

  

  The Japanese Nikkei index closed lower today, Friday, to retreat from near its highest level in 29 and a half years, as the risk appetite was negatively affected after the US drugmaker Pfizer said it had lowered the goal of distributing its anti-virus vaccine. The Nikkei index fell 0.22% to …

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• 4 December 2020 2:05 am

  US Senate Approved New Fed Board Member

  

  The United States Senate confirmed on Thursday one of President Donald Trump’s picks to the Federal Reserve’s board of governors, the Wall Street Journal reported. Christopher Waller, Research Director at the Federal Reserve Bank of St. Louis, was confirmed to a term that extends until January 2030. A total of …

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• 4 December 2020 1:12 am

  Oil Closes Higher Despite OPEC+ Move

  

  Oil prices rose on Thursday, despite media reports about an agreement within the OPEC+ alliance to raise production starting from January. OPEC+ is set to hold monthly meetings starting January to assess market conditions and decide on further production adjustments for the following month. Brent crude futures for February delivery …

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• 4 December 2020 12:16 am

  Gold Rises on USD Woes

  

  Gold prices rose on Thursday, supported by the decline of the US Dollar (USD) on mixed economic data. Gold futures for February delivery added around $11, or 0.6%, to close at $1,841.10 per ounce. The rise of the yellow metal comes following a recent strong correction wave and monthly losses …

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• 4 December 2020 12:13 am

  OPEC+ to Reduce Output Cuts in January

  

  The OPEC+ alliance have on Thursday reportedly agreed to a small rise in crude oil output starting next January by 500,000 barrels per day, Reuters reported. However, major producers are yet to agree on the broader output policy for the rest of 2021. Producers hope that economic recovery from the …

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• 3 December 2020 10:14 pm

  Natural Gas Stockpiles Decline Less than Expected

  

  Data by the United States Energy Information Administration (EIA) showed on Thursday that natural gas inventories declined by 1 billion cubic feet for the week ended November 27. The decline is way below that expected by market experts. Natural gas inventories amounted to a total of 3.939 trillion cubic feet, …

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• 3 December 2020 9:43 pm

  ISM Services PMI Maintains Expansion

  

  Economic activity in the United States services sector grew in November for the sixth consecutive month. Data by the Institute for Supply Management (ISM) Services Business Survey showed that the Services PMI registered 55.9%, declining by 0.7% compared to the October reading of 56.6%. However, the reading represents a sixth …

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• 3 December 2020 9:36 pm

  European Stocks Finish on Mixed Note

  

  European stocks closed Thursday on a mixed note amid increased uncertainty surrounding Brexit trade talks. The STOXX Europe 600 index closed marginally higher, adding about 0.30 points. Meanwhile, the UK’s FTSE100 finished higher by 0.42%, while the French CAC40 decreased by 0.16%. Similarly, the German DAX fell by 0.45%.

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• 3 December 2020 7:28 pm

  USD Declines Across the Board

  

  The US Dollar (USD) is declining again against major currencies on Tuesday, showing a mixed performance on mixed economic data. The dollar index (DXY) is down by 0.60% at 90.75, after moving in a range between 90.56 and 91.09, after closing yesterday at 91.12.

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