Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 30 September 2020 9:56 pm

  Fed’s Bowman: Economy Rapidly Recovering from COVID-19 Recession

  

  The United States economy has been recovering at a rapid pace from the impact of the COVID-19 crisis, however, unemployment remains quite high, which means more monetary and fiscal support are needed, Federal Reserve Governor Michelle Bowman said on Wednesday, Reuters reported. “Even with this support, however, I anticipate that …

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• 30 September 2020 8:20 pm

  US Oil Inventories Fall Unexpectedly for Third Week in Row

  

  Crude oil inventories in the United States declined last week, for the third consecutive week, by 2 million barrels, according to data by the US Energy Information Administration (EIA) on Wednesday. This comes against expectations of an increase by 1.6-1.9 million barrels. US oil stockpiles reached a total of 492.4 …

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• 30 September 2020 5:31 pm

  Canada Real GDP Grew by 3% in July

  

  The economic activity in Canada, as measured by the real Gross Domestic Product (GDP), grew by 3% in July, the data published by Statistics Canada showed on Wednesday. This reading matched the market expectation.

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• 30 September 2020 5:23 pm

  US Real GDP Contracts by 31.4% in Q2

  

  The United States’ Real Gross Domestic Product (GDP) contracted at an annual rate of 31.4% in the second quarter, the US Bureau of Economic Analysis’ final (third) estimate showed on Wednesday. This reading came in slightly better than the previous estimate and the market expectation of -31.7%.

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• 30 September 2020 4:18 pm

  US Private Sector Employment Rises by 749K in September

  

  Employment in the US’ private sector rose by 749,000 in September, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday.  Developing story…

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• 30 September 2020 3:57 pm

  BoE’s Haldane: None of the Conditions for Negative Rates Has Been Satisfied

  

  The Bank of England’s chief economist, Andy Haldane crossed the wires in the last hour and ruled out the possibility of negative rates in the short-term. Haldane said that conditions to negative interest have not been met yet. “None of the conditions for negative rates has been satisfied.Work on negative …

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• 30 September 2020 3:43 pm

  Oil is Rising Near $ 42, All Eyes on Libya and US Stocks

  

  Oil prices decreased for the second day in a row Wednesday, September 30, continuing to incur large losses in light of the increase in Coronavirus infections before the start of the winter season in the north, which raised fears of further restrictions on activities, which may, in turn, reduce the …

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• 30 September 2020 2:46 pm

  The Unemployment Rate in Germany Fell for the Third Month in a Row

  

  Data showed a decline in the number of unemployed in Germany for the third month in a row in September, in a positive sign of household spending that is expected to lead the recovery from the Corona crisis in the largest economy in Europe. The Labor Office said that the …

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• 30 September 2020 1:44 pm

  Gold on Its Way to Post Worst Month Since November 2016

  

  The yellow metal continues on its way to post its biggest monthly decline in nearly 4 years, driven by the strong US dollar and the return of caution to the markets after the first presidential debate in the United States. Spot gold fell 0.6% to 1,885.81, down 4.3% since the …

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• 30 September 2020 1:12 pm

  Chinese Manufacturing Activity Expanded in September

  

  China announced that manufacturing activity expanded in September as the world’s second-largest economy continued to show signs of recovering from the coronavirus pandemic. The official PMI manufacturing index for September came in at 51.5 compared to 51.0 in August, according to the National Bureau of Statistics. PMI readings above 50 …

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• 30 September 2020 12:20 pm

  API: Oil Inventories Decline And Gasoline Inventories Rise

  

  Data from the American Petroleum Institute (API) showed that crude oil inventories declined in the United States last week, while gasoline inventories rose. Crude inventories fell by 831 thousand barrels in the week ending September 25 to about 494.4 million barrels, while analysts’ expectations indicated an increase of 1.6 million …

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• 30 September 2020 11:28 am

  German Retail Sales Soar in August Rising Hopes of Recovery

  

  Data showed that German retail sales rose much more than expected in August, reviving hopes that household spending in Europe’s largest economy will lead to a strong recovery in Q3 from the coronavirus shock. Data from the Federal Statistics Office revealed that retail sales jumped 3.1% on a monthly basis …

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• 30 September 2020 11:21 am

  Odds of Trump Winning US Elections Drop After the First Debate

  

  According to Reuters, Trump’s chances of continuing to hold the presidency after the November 3 election have fallen to 40% after the main debate with Biden on Wednesday morning. The likelihood of Trump winning the election was 42% before the debate.Trump and Biden had argued over the economy, climate change, …

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