Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 6 November 2020 9:55 pm

  GBP/USD Nears Best Weekly Closing since September

  

  The British Pound (GBP) is close to ending the week at its best level since late September, supported by strong gains and the decline of the US Dollar (USD) amid elections uncertainty. The GBP/USD pair is trading higher by 0.02% at 1.3151. The pair has been moving in a range …

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• 6 November 2020 9:41 pm

  CAD Rises to Best Level in Two Months

  

  The Canadian Dollar (CAD) reaffirmed its gains against the US Dollar (USD) on Friday, rising to its best level since the beginning of September. This comes despite employment data in Canada coming below expectations. The USD/CAD is trading lower for the day by 0.09% at 1.3033. The pair earlier reached …

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• 6 November 2020 9:32 pm

  European Stocks Down but Rises for the Week

  

  European stocks closed lower on Friday, awaiting the results of the US presidential elections amid growing concerns and preventive measures against a new wave of the Coronavirus pandemic. The STOXX Europe 600 index finished lower by 0.20% or 0.72 points, at 366.40 points, rising by 6.9% for the week. The …

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• 6 November 2020 9:22 pm

  France Expects Better Trade Relations with Biden

  

  Bilateral trade between France and the United States could be better if the Democratic nominee Joe Biden wins the elections, according to the French Minister of Trade, Franck Riester. France would surely see an improvement in relations. We would be more aligned on matters of sustainable development and perhaps also …

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• 6 November 2020 8:07 pm

  US Wholesale Inventories Rise in September

  

  Wholesale inventories in the United States increased more than initially estimated during the month of September, data showed on Friday. US wholesale inventories went up by 0.4% in September, in contrast to an initial estimate of a 0.1% decline. This also follows an increase of 0.5% in August, according to …

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• 6 November 2020 7:30 pm

  Canada’s Ivey PMI Rises in October

  

  Canada’s Ivey Purchasing Managers Index (PMI) increased to a seasonally adjusted reading of 54.5 in October, from 54.3 in September, beating expectations of 51.5, data showed on Friday. This is the fifth consecutive month for the Canadian PMI, in which it maintained its level above 50. The employment index rose …

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• 6 November 2020 6:03 pm

  US Election: Biden Takes The Lead in the Battleground State of Pennsylvania

  

  Former Vice President Joe Biden has taken a small lead in the battleground state of Pennsylvania against US President Donald Trump with 95% os the estimated votes tallied so far, Reuters reported, citing Edison Research. According to the latest figures, Biden has 49.4% and Trump has 49.3% in the state.

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• 6 November 2020 5:41 pm

  Canada: Unemployment Rate Edges Lower to 8.9% in October

  

  Net Change in Employment in Canada rose by 83,600 in October, compared to analysts’ estimate of 100,000, and brought the Unemployment Rate down to 8.9% from 9% in September, Statistics Canada reported on Friday. This reading missed the market expectation of 8.8% by a small margin. Further details of the …

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• 6 November 2020 5:33 pm

  NFP Rise by 638K in October

  

  Nonfarm Payrolls (NFP) in the US rose by 638,000 in October, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed September’s increase of 672,000 (revised from 661,000) and beat the market expectation of 600,000. Further details of the publication revealed that the Unemployment …

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• 6 November 2020 4:57 pm

  INE: Key Economic Indicators For Italy Are at Pre-Crisis Levels And Outlook is Murky

  

  National Statistics Institute said in its monthly report today, Friday, that Italian key economic indicators have returned to levels that were only recorded before the emergency health crisis of Coronavirus, but expectations for the coming months are still shrouded in uncertainty. Last week’s data showed that Italy’s GDP 16.1%, much …

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• 6 November 2020 4:20 pm

  Fitch Expects Increased Risks With Turkish Lira Reaching a Fresh Low

  

  Turkey has not tightened policy enough to support the lira, which hit a new low on Friday, a senior analyst at Fitch Ratings said, and that the country’s foreign exchange reserves and external financing remain weaknesses. “more pressure from the currency, double-digit inflation and the erosion of foreign exchange reserves …

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• 6 November 2020 3:30 pm

  Halifax: UK House Prices Rose at The Fastest Annual Pace Since 2016

  

  Mortgage Halifax said British home prices rose in October at the fastest annual pace since June 2016, although there were signs of momentum dissipating as the COVID-19 pandemic escalated. Halifax added that house prices increased 7.5% in October compared to a year ago, and compared to a 7.3% annual growth …

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• 6 November 2020 2:27 pm

  European Stocks Losing Momentum After a 5-Day Rally

  

  European stocks faced difficulties to gain momentum today, Friday, after a strong rally this week, as Italy and France recorded record numbers of cases of Coronavirus, while the counting of votes in the US elections continues. The pan-European STOXX 600 index fell 0.1%, after five days of gains that put …

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