Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 20 November 2020 7:35 pm

  Mnuchin: Economy Needs Grants not Loans

  

  The United States Secretary of Treasury, Steven Mnuchin, said on Friday that ending lending programs by the Federal Reserve on December 31 is necessary with the market now in need for grants more than loan. Mnuchin urged Congress to pass legislation to provide such grants. The move was reportedly criticized …

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• 20 November 2020 7:30 pm

  Fed’s Kaplan: Economy Needs More Stimulus

  

  The President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Friday that the United States economy is in need for more fiscal support, Reuters reported. “If the savings from those do run out you are going to see consumer spending get weaker.”“This hasn’t felt as much like …

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• 20 November 2020 7:27 pm

  Canadian Retail Sales Rise in September

  

  Canadian retail sales increased by 1.1% to $53.9 billion in September, data by Statistics Canada showed on Friday. This is the fifth consecutive monthly increase in Canadian retail sales. The surge in retail sales also exceeded market expectations of a 0.2% rise. Data further showed that retail sales rose across …

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• 20 November 2020 6:19 pm

  Canada: Retail Sales Increase by 1.1% in September

  

  Retail Sales in Canada rose by 1.1% on a monthly basis in October to $ 53.9 billion, the data published by Statistics Canada showed on Friday. This reading followed August’s increase of 0.4% and came in slightly lower than the market expectation of 1%. “Rounding out the third quarter, retail …

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• 20 November 2020 5:14 pm

  Pfizer And BioNTech to Submit Emergency Use Authorization Request to FDA For COVID-19 Vaccine

  

  Pfizer and BioNTech announced on Friday that they will be submitting an emergency use authorization request to the US Food and Drug Administration (FDA) on Friday. The shares of BioNTech and Pfizer increased by 6.3% and 1.5%, respectively, in the pre-opening trade on Wall Street. Today’s announcement came two days …

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• 20 November 2020 4:27 pm

  Dollar Rises After Suspension of Some Emergency Program

  

  The dollar rose today, Friday, against a basket of currencies in early trade in London, reversing its downward trend when US Treasury Secretary Stephen Mnuchin called for an end to some emergency lending by the Federal Reserve (US Central Bank). Mnuchin’s move reallocates about $ 455 billion directed to the …

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• 20 November 2020 3:22 pm

  European Stocks Supported by Gains in Retail And Oil Sectors

  

  European stocks rose on Friday, as gains in the retail and oil sectors erased concerns about the political situation in the United States and an impasse over new stimulus measures to support the global economy, which has been ravaged by the pandemic. The pan-European STOXX 600 index rose 0.2% and …

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• 20 November 2020 2:41 pm

  Turkish Consumer Confidence Declined in November

  

  The Turkish consumer confidence index fell 2.2% to 80.1 points in November from 81.9 the previous month, indicating a state of caution after a brief improvement in light of the worsening outbreak of the Coronavirus, according to data from the Turkish Statistical Institute. The pandemic control measures brought the economy …

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• 20 November 2020 1:45 pm

  Gold to Continue Its Weekly Decline Due to Stimulus Concerns And Vaccine Optimism

  

  Gold prices are heading today, Friday, to record a decline for the second week in a row, as the attractiveness of the yellow metal is under pressure from promising tests for a Covid-19 vaccine and news that the US Treasury is ending emergency loan programs. Gold fell in immediate transactions …

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• 20 November 2020 1:07 pm

  PAJ President: Expects to Postpone OPEC+ Plan to Increase Production in January

  

  President of Petroleum Association of Japan, Tsutomu Sugimori expected Friday that OPEC and its allies, the group known as OPEC+, will likely delay a plan to increase production in January and stick to existing cuts of 7.7 million barrels per day. He also said that demand in Japan for gasoline …

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• 20 November 2020 12:38 pm

  Japan Shares Drop as Sentiment Hurt by a New Wave of COVID-19

  

  Japanese shares fell on Friday for the third straight session, as a rise in new cases with the Coronavirus inside the country to record levels fueled fears that officials will introduce new restrictions on business activities. The Nikkei index fell 0.42% to close at 25,527.37 points. The broader TOPIX index …

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• 19 November 2020 11:03 pm

  Gold Prices Down for Third Day in Row

  

  Gold prices continued to decline on Thursday for the third consecutive session, as the US Dollar (USD) rose against major currencies. Positive news about a Coronavirus vaccine and fears about renewed lockdown measures against a new wave of the pandemic seem to be balancing out with the rise of the …

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• 19 November 2020 10:34 pm

  Lagarde Expects Negative Inflation Early Next Year

  

  The President of the European Central Bank (ECB), Christine Lagarde, said on Thursday that she expects inflation in the Eurozone will likely remain in the negative territory into early 2021. This comes amid renewed lockdown and preventive measures across the European continent to curb the spread of the new wave …

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