Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 2 December 2020 8:01 pm

  EIA: US Crude Inventories Declined And Fuel Surged Last Week

  

  US inventories of crude oil decreased while gasoline and distillate inventories rose, the US Energy Information Administration said Wednesday. Crude stocks fell by 679,000 barrels over the week ending November 27 to 488 million barrels, while analysts in a Reuters poll expected a drop of 2.4 million barrels. Crude stocks …

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• 2 December 2020 7:10 pm

  Canada Labor Productivity Fell 10.3% in 3Q

  

  Canadian labor productivity plunged by 10.3% in the third quarter, where working hours rebounded faster than production business. This was the largest quarterly decline recorded. Labor productivity declined 10.3% on a seasonally-adjusted basis in the third quarter, Statistics Canada said Wednesday, following 10%-plus gain in the previous three-month period. In …

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• 2 December 2020 6:08 pm

  US: ADP Employment Change Arrives at +307K in November

  

  Employment in the US’ private sector increased by 307,000 in November, the monthly data published by the Automatic Data Processing (ADP) Research Institue revealed on Wednesday.  This reading followed October’s increase of 404,000 (revised from 365,000) and missed the market expectation of 410,000.

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• 2 December 2020 5:38 pm

  Gold Rises to a Week High on The Back of The Dollar’s Decline And Hopes of US Stimulus

  

  Gold rose Wednesday, December 2, to its highest level in more than a week, supported by the dollar’s decline, while signs of progress in discussions on a new US stimulus package to mitigate the repercussions of the Covid-19 pandemic boosted the appetite for the precious metal as a hedge against …

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• 2 December 2020 4:33 pm

  Biden’s Comments On The Trade Deal Halted Losses in The Dollar And Reinforced The Decline of Chinese Yuan

  

  The dollar settled near its lowest level in two and a half years Wednesday, December 2, as investors assess the prospects for further fiscal stimulus in the United States, while riskier currencies held onto their gains as investor confidence improved. The Chinese yuan lost some of its gains in Asian …

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• 2 December 2020 4:01 pm

  Euro Area Unemployment Rate Declines to 8.4% in October

  

  The seasonally-adjusted Unemployment Rate in the euro area ticked down to 8.4% in October from 8.5% in September, the data published by the Eurostat showed on Wednesday. This reading came in line with analysts’ estimates.

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• 2 December 2020 2:41 pm

  German Retail Sales Rebound Before a Partial Close

  

  German retail sales rebounded more than expected in October, data reported Wednesday, December 2, indicating that consumers supported overall growth in Europe’s largest economy ahead of partial lockdown measures to contain the second wave of the coronavirus pandemic. The Federal Statistics Office said retail sales rose 2.6% in October on …

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• 2 December 2020 2:02 pm

  Oil is Declining as Investors Welcome The Good News of The Vaccine

  

  Oil prices fell in early transactions on Wednesday, December 2, but recovered some losses later after news indicating that Britain has become the first country in the world to agree to use a vaccine for Covid-19, which will start from next week. Prices fell earlier after an unexpected build-up in …

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• 2 December 2020 1:17 pm

  Gold Declining Amid Doubts About US Stimulus Package

  

  Gold fell on Wednesday 2 December, as investors were cautiously dominated due to doubts about progress in the stimulus package in the United States, while reports of developments regarding the Covid-19 vaccine added pressure. Spot gold prices fell 0.3% to $ 1808.67 an ounce after an increase of more than …

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• 2 December 2020 12:44 pm

  Britain Allows The Use of The Pfizer-BioNTech Vaccine

  

  The United Kingdom has become the first country in the world to authorize the Pfizer and BioNTech coronavirus vaccine, making it available as of next week. “The government today accepted the MHRA recommendation to approve the use of the Pfizer-BioNTech Covid-19 vaccine,” the government said. And “the vaccine will be …

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• 2 December 2020 3:26 am

  Fed and Treasury Call for New Stimulus

  

  The Chairman of the United States Federal Reserve, Jerome Powell, warned on Tuesday that the negative impacts from the Coronavirus pandemic could lead to greater inequality. Powell also called for greater government support, the New York Times reported. “There is a great risk of the pandemic making them worse,” Powell …

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• 2 December 2020 2:22 am

  NYSE Closes on Multiple New Records

  

  The New York Stock Exchange (NYSE) saw a record-breaking performance on Tuesday, supported by an improved sentiment regarding a possible agreement on a new stimulus package. The Dow Jones Industrial Average broke the 30,000-point level once again and reached 30,046 earlier in the session, before closing higher by 185.28 points, …

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• 2 December 2020 2:06 am

  Oil Closes at Lowest Level in Week

  

  Oil prices fell on Tuesday to their lowest level in about a week, after the OPEC+ alliance delayed its decision regarding output cuts, in a move that was somehow expected. Brent crude futures for February delivery fell by 46 cents, or 1%, at $47.42 per barrel. West Texas Intermediate (WTI) …

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