Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 2 October 2020 1:27 am

  Oil Prices Fall to Lowest in Two Weeks

  

  Oil prices declined on Thursday, to finish at its lowest level in about two weeks, amid renewed concerns about the global demand recovery and the rising number of COVID-19 cases in many countries. Brent crude futures for December delivery fell by $1.37, or 3.2%, to close at $40.93 per barrel, …

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• 2 October 2020 12:51 am

  Gold Futures Rise and Head to Weekly Gains

  

  Gold prices rose on Thursday to its highest closing level in about two weeks, amid the decline of the US Dollar (USD). Gold futures for December delivery increased by $20.80, or 1.1%, and closed at $1,916.30 per ounce, its highest finish since September 18. The yellow metal is now heading …

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• 1 October 2020 11:44 pm

  US Jobless Claims Decrease by 36,000

  

  Data by the United States Department of Labor showed on Thursday that initial claims for unemployment insurance reached 837,000 last week. This marks a decline of 36,000 jobless claims compared with the previous week’s upwardly revised reading of 870,000. It is the fifth consecutive week in which claims come below …

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• 1 October 2020 10:00 pm

  European Stocks Register Modest Gains

  

  European stocks closed Thursday on modest gains, after data showed a rise in industrial producers’ prices as well as unemployment rate in the continent. The continental index, STOXX Europe 600, finished higher by 0.15%, or 0.54%, at 361.63 points. The UK’s FTSE100 increased by 0.23%, while the French CAC40 added …

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• 1 October 2020 9:08 pm

  European Industrial PPI Rises in August

  

  The industrial producer price index (PPI) increased in August by 0.1% in the Eurozone, and by 0.2% in the European Union (EU), according to estimates by Eurostat. Last month saw some easing of preventive measures against the COVID-19 pandemic in Europe. On an annual basis, industrial producer prices decreased by …

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• 1 October 2020 8:51 pm

  Unemployment in Europe Continues to Increase

  

  The seasonally adjusted unemployment rate in the Eurozone has continued to rise for the fifth consecutive month in August, reaching 8.1%, according to data released by Eurostat on Thursday. Unemployment rate in the European Union (EU) reached 7.4% in August.

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• 1 October 2020 7:26 pm

  USD Maintains Downward Trend

  

  The US Dollar (USD) is maintaining its downward trend against major currencies on Thursday, moving during the first session of the month of October in the negative territory. The Dollar index (DXY), which measures the performance of the USD against a basket of six international currencies, is down for the …

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• 1 October 2020 7:21 pm

  US: ISM Manufacturing PMI Declines in September

  

  The economic activity in the US’ manufacturing sector expanded in September than it did in August with the ISM’s Manufacturing Purchasing Managers’ Index (PMI) edging lower to 55.4 from 56. This reading came in worse than the market expectation of 56.3 Further details of the publication revealed that the Prices Paid …

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• 1 October 2020 6:29 pm

  US: Annual Core PCE Price Index Edges Higher

  

  The Personal Consumption Expenditures (PCE) Price Index in August rose 0.3% on a monthly basis, the US Bureau of Economic Analysis reported on Thursday. On a yearly basis, the PCE Price Index increased to 1.4% from 1.1% in July. More importantly, the Core PCE Price Index, the Federal Reserve’s preferred gauge …

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• 1 October 2020 5:25 pm

  US Weekly Initial Jobless Claims Edge Higher to 837K

  

  There were 837,000 initial claims for unemployment benefits in the US during the week ending September 26th, the data published by the US Department of Labor (DOL) revealed on Thursday. This reading followed last week’s figure of 873,000 and came in slightly worse than analysts’ estimate of 850,000.

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• 1 October 2020 5:06 pm

  US: Personal Income Falls by 2.7% in August, Personal Spending Rises by 1%

  

  Personal Income in the US declined by 2.7% on a monthly basis in August after rising by 0.5% (revised from 0.4%) in July, the US Bureau of Economic Analysis reported on Thursday. This reading came in slightly worse than the market expectation for a decrease of 2.4%. Further details of …

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• 1 October 2020 4:27 pm

  EU Takes Legal Action Against UK Over Planned Brexit Bill

  

  The European Union has launched a legal case against the United Kingdom on Thursday over its plans to pass legislation that would breach parts of the legally binding Brexit agreement the two sides reached late last year. Johnson risked proposing legislation that would repeal parts of the EU Withdrawal Agreement that …

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• 1 October 2020 3:16 pm

  Dollar Giving up Its Gains With Appetite For Riskier Currencies

  

  The dollar fell Thursday, October 1, to its lowest level in 9 days, as strong US data and hopes about a fiscal stimulus boosted investor confidence enough to take in more risky currencies. The Chinese yuan rose against the dollar and reached its highest level in a year and a …

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