Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 15 October 2020 2:16 pm

  Oil Falls as Corona Cases Threaten to Recover Demand

  

  Oil prices plunged on Thursday, erasing earlier gains in the session, as a new spike in COVID-19 cases around the world reinforced concerns about economic growth and a recovery in fuel demand. European countries re-impose curfews and general isolation measures in light of the increase in new cases of Corona. …

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• 15 October 2020 1:39 pm

  Gold Retreating as US Dollar Rallies as Bets on a US Stimulus Dissipate

  

  Gold fell on Thursday, and lay below $ 1900, a psychological important level, as the dollar held on to recent gains after US Treasury Secretary Stephen Mnuchin dashed hopes for a new stimulus package before the presidential election. Spot gold fell 0.2% to $ 1897.47 an ounce, after rising 1.2% …

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• 15 October 2020 12:55 pm

  European Stocks Fall on Covid-19 And Doubts About US Stimulus

  

  European stocks fell for the third consecutive session Thursday, as demand for global stocks was negatively affected by concerns about the economic damage resulting from more general isolation measures aimed at slowing the spread of the Corona virus and dashed hopes of fiscal stimulation in the United States before the …

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• 15 October 2020 12:11 pm

  Japan Stocks Are Declining as Investors Nervous About Risks

  

  Japanese stocks fell on Thursday, as investor sentiment was damaged due to the dissipation of hopes for a new round of financial stimulus in the United States and the return of lockdown measures in some European countries due to the Corona outbreak and concerns about the strained Sino-US relations. The …

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• 15 October 2020 11:49 am

  China’s PPI fell 2.1% Y-o-Y in September

  

  China’s producer price index fell 2.1% year on year in September more than expected. In September, the annual CPI rose 1.7% less than expected. On a monthly basis, the same index rose by 0.2%, less than expected by 0.1%.

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• 15 October 2020 11:19 am

  The Unemployment Rate in Australia Rose to 6.9% in September

  

  The unemployment rate in Australia rose to 6.9% in September, less than expected, and employment fell by 29,500 in the same month, less than expected. The partial unemployment rate increased to 11.4%, and the participation rate maintained its levels at 64.8%, in line with expectations.

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• 15 October 2020 1:24 am

  Wall Street Closes in Red on Negative Forecasts

  

  The main indices of Wall Street closed lower on Wednesday, due to mixed financial results by big banks, and worries about the second wave of the Coronavirus (COVID-19) pandemic. In addition, hopes for a new stimulus package were subdued after remarks by the US Treasury Secretary suggested that a new …

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• 15 October 2020 1:00 am

  Oil Maintains Rising Trend for Second Day

  

  Oil prices maintained gains for the second consecutive session on Wednesday, amid commitment by OPEC+ leaders to output cuts. Brent futures for December delivery gained 87 cents, or 2.1%, to settle at $43.32 per barrel. Meanwhile, the West Texas Intermediate (WTI) crude futures for November delivery finished higher by 84 …

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• 15 October 2020 12:53 am

  Gold Restores $1,900 Mark at Close

  

  Gold prices rose on Wednesday, supported by the decline of the US Dollar (USD), restoring the $1,900 per ounce level. Gold futures for December delivery increased by $12.70, or 0.7%, and settled at $1,907.30 per ounce. Meanwhile, silver futures for December delivery added 27 cents, or 1.1%, and closed at …

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• 14 October 2020 9:36 pm

  Fed’s Barkin: COVID-19 Cases Raise Uncertainty

  

  The increase in the number of new Coronavirus (COVID-19) cases in the United States led to more uncertainty to the economic outlook, according to the President of the Federal Reserve Bank of Richmond, Thomas Barkin. “An elevated case rate raises economic uncertainty and that affects businesses’ willingness to hire or …

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• 14 October 2020 9:27 pm

  World Bank Calls for Additional Relief Funding

  

  The World Bank is reportedly calling for $25 billion in additional financing to combat the impact of the COVID-19 pandemic on the world’s poorest countries, Reuters reported. President of the World Bank, David Malpass, expressed this to finance ministers and central bank governors of the G20 group on Wednesday. According …

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• 14 October 2020 8:28 pm

  Banking Earnings And PPI Lift Sentiment

  

  Bank of America (BoA) and Goldman Sachs (GS) both announce third-quarter earnings that beat estimates. Bank of America announced net income of $ 4.9 billion, or 0.51 per share (EPS), with consensus estimates at 0.49 Cents. In the same quarter last year, revenues were at $ 5.8 billion and $ …

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• 14 October 2020 6:45 pm

  UK and EU Reach Progress in Trade Talks

  

  Trade talks between the United Kingdom (UK) and the European Union (EU) are reportedly showing progress, according to the British Prime Minister’s spokesperson, Reuters reported. “Some progress has been made this week, primarily in technical areas of the negotiations, but there are still differences, with fisheries being the starkest.”

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