Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 18 November 2020 12:06 pm

  UK Annualized CPI Beats Estimates With 0.7% in Sept

  

  he UK Consumer Prices Index (CPI) 12-month rate came in at +0.7% in October when compared to +0.5% booked in September while beating expectations of a +0.6% print, the UK Office for National Statistics (ONS) reported on Wednesday. Meanwhile, the core inflation gauge (excluding volatile food and energy items) arrived …

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• 18 November 2020 5:51 am

  What Does the New Budget Mean for Italy?

  

  The Italian government approved on Monday its budget for next year, with a reduced level of targeted deficit, Reuters reported. The 2021 budget has set a target of a 7% fiscal deficit compared to the Italian gross domestic product (GDP), down from 10.8% in 2020. However, it is expected that …

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• 18 November 2020 5:34 am

  API: US Oil Inventories Up 4.2 M Barrels

  

  Crude oil inventories in the United States increased by 4.2 million barrels last week, according to data by the American Petroleum Institute (API) on Tuesday. Meanwhile, gasoline stockpiles rose by 256,000 barrels, while distillate inventories declined by 5 million barrels.

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• 18 November 2020 4:44 am

  Oil Prices End on Mixed Note

  

  Oil prices showed a mixed performance on Tuesday, as the market awaits a firm commitment from the OPEC+ alliance towards the output cuts. Brent crude futures for January delivery fell by 7 cents, or 0.2%, to finish at $43.75 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for December …

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• 18 November 2020 4:11 am

  Gold Posts First Decline in Four Days

  

  Gold prices closed lower on Tuesday, posting its first decline in four sessions, amid news about positive results by COVID-19 vaccines. Gold futures for December delivery declined by $2.70, or 0.1%, and settled at $1,885.10 per ounce. Meanwhile, silver futures for December delivery decreased by 15 cents, or 0.6%, and …

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• 18 November 2020 12:11 am

  Fed’s Bostic Warns of Short-Term Risks to Recovery

  

  President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Tuesday that weak October retail sales are showing short-term risk to economic recovery in the United States from the impact of the Coronavirus pandemic, Reuters reported. “We have short-term and immediate-term concerns with the spike in the virus …

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• 17 November 2020 10:43 pm

  Lagarde: Vaccine Will Not Change Our Projections

  

  The President of the European Central Bank (ECB), Christine Lagarde, said on Tuesday that an effective Coronavirus vaccine will not change the bank’s economic projections. “I’m not sure that is going to be a major game-changer for our forecasts, simply because what we had anticipated in our baseline was that …

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• 17 November 2020 10:38 pm

  Housing Starts in Canada Rise in October

  

  Housing starts in Canada increased in October by 3% on a monthly basis, data showed on Tuesday. The seasonally adjusted annual rate of housing starts went up to 214,875 units from a revised reading of 208,715 units in September, according to the Canadian Mortgage and Housing Corporation (CMHC).

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• 17 November 2020 9:45 pm

  Canadian Wholesale Sales Rise in September

  

  Wholesale sales in Canada increased by 0.9% to $66.2 billion in September, data by Statistics Canada showed on Tuesday. Sales of food, beverage, and tobacco grew by 3.6% to $12.4 billion, with the food industry sales increasing by 4.2%. This is the best reading for the food, beverage, and tobacco …

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• 17 November 2020 8:30 pm

  European Stocks Return to Losses

  

  European stocks closed lower on Tuesday, returning to losses despite positive news about a Coronavirus vaccine being developed by Moderna. The STOXX Europe 600 index finished lower by 0.2%, while the UK’s FTSE100 plunged by 0.87%. Meanwhile, the French index CAC40 added 0.21%, and the German index closed marginally lower …

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• 17 November 2020 8:15 pm

  US Business Inventories Rise in September

  

  Business inventories in the United States grew during the month of September by more than expected, data by the US Department of Commerce showed on Tuesday. Business inventories increased by 0.7% in September after rising by 0.3% in August. Meanwhile, retail inventories increased by 1.7% in September, up from an …

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• 17 November 2020 6:50 pm

  Industrial Production Expands by 1.1% in October

  

  Industrial Production in the United States expanded by 1.1% on a monthly basis in October, the US Federal Reserve reported on Tuesday. This reading came in slightly better than the market expectation of 1% and followed September’s 0.4% contraction.

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• 17 November 2020 3:20 pm

  Turkish Lira Down by More Than 1%

  

  The Turkish lira fell by more than 1% on Tuesday, November 17t, against the dollar, after rising by as much as 12% last week thanks to expectations of a more conservative economic policy when President Erdogan pledged a new economic model. The lira had stabilized at 7.80, after touching 7.7110 …

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