Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 27 October 2020 12:24 am

  Oil Finishes at Three-Week Low

  

  Oil prices declined on Monday, finishing the first session of the week at its lowest level in about three weeks. A surge in new COVID-19 cases is raising concerns about demand and economic recovery, especially in the United States and Europe. Brent crude futures for December delivery lost $1.31, or …

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• 27 October 2020 12:08 am

  Gold Closes Marginally Higher as USD Rises

  

  Gold prices rose on Monday for the fifth time in six sessions, supported by increased demand for safe havens, amid a surge in new COVID-19 cases. The rise in the yellow metal prices came despite the US Dollar (USD) rising across the board. Gold futures for December delivery closed marginally …

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• 26 October 2020 11:44 pm

  US Appeals WTO Ruling on China Tariffs

  

  The United States is appealing against a recent ruling by the World Trade Organization (WTO) that considered American tariffs imposed on China in 2018 as a breach to global trade rules, Reuters reported on Monday. Last month, a WTO panel ruled that there was no justification for the imposed tariffs.

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• 26 October 2020 8:46 pm

  European Stocks Fall on COVID-19 Concerns

  

  European stock markets showed a negative performance in the first session of the week, due to the surge in the number of COVID-19 cases amid a second wave of the pandemic in many countries across the continent. The STOXX Europe 600 index fell by 1.81% and finished Monday at 355.94 …

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• 26 October 2020 8:41 pm

  Germany to Raise Economic Performance Forecasts for 2020

  

  The government of Germany is set to revise upwards its expectations for the gross domestic product (GDP) in 2020, Reuters reported on Monday. Berlin foresees GDP to contract by 5.5% this year, down from a previous estimate of a 5.8% contraction. The revision is expected to be presented to the …

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• 26 October 2020 8:35 pm

  US New Home Sales Fall in September

  

  New homes sales in the United States decreased last month, against market expectations, data by the US Department of Commerce showed on Monday. New single-family home sales declined by 3.5% to a seasonally adjusted annual rate of 959,000 units in September. Meanwhile, the August reading was revised down to 994,000 …

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• 26 October 2020 6:10 pm

  OPEC’s Barkindo: Economic And Oil Demand Recovery Remain Anemic

  

  The Secretary-General of OPEC said today, Monday, that OPEC+ producers do not expect oil prices to collapse again, as happened in Q2, adding that members of the alliance “will not change course” in terms of rebalancing the market. “The economic and oil demand recovery remain anemic,” the Organization of Petroleum …

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• 26 October 2020 5:25 pm

  Oil Drops More Than 2% on Increased Coronavirus Cases

  

  Oil fell more than 2% on Monday, extending last week’s losses in light of the growing cases of Covid-19 disease in the United States and Europe, which raises concerns about the demand for crude, especially in light of the chances of increases in supply. Brent crude was down $ 1.25, …

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• 26 October 2020 5:02 pm

  Japanese Stocks Closed Lower on Caution Over Corporate Results

  

  Japanese stocks fell on Monday, as investors exercised caution ahead of a series of reports of company results, while sentiment was negatively affected by the growing cases of Coronavirus around the world. The benchmark Nikkei index fell 0.09% to 23,494.34 points, while the broader TOPIX index fell 0.39% to 1618.98 …

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• 26 October 2020 4:04 pm

  Dollar Rising Against Riskier Currencies as Hopes For US Stimulus Fade

  

  The dollar rose on Monday, as Traders proceeded to be cautious due to the increasing cases of Coronavirus in Europe and the United States, as well as the lack of progress in the US economic stimulus package. US House of Representatives Speaker Nancy Pelosi said on Sunday that she expected …

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• 26 October 2020 3:03 pm

  Turkish Lira in All-Time Low

  

  The Turkish lira fell against the US dollar below the 8 for the first time, with doubts surrounding the efforts of the Turkish Central Bank to support the Turkish currency with the escalation of geopolitical tensions. The Turkish lira fell 1.2% to $ 8.0088 on Monday, the largest decline compared …

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• 26 October 2020 2:12 pm

  German IFO Business Climate Index Misses Estimates

  

  The headline German IFO Business Climate Index came in at 92.7 in October, weaker than last month’s 93.2 while missing the consensus estimates pointing to a reading of 93.0. On the other hand, the IFO Expectations Index – indicating firms’ projections for the next six months, came in at 95.0 for …

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• 26 October 2020 1:40 pm

  Italy Records More Than 21,000 New Cases of Coronavirus, Largest Daily Jump

  

  Data released by the Ministry of Health in Italy on Sunday, October 25, showed a new record in the number of new cases of Coronavirus in one day, as it detected 21,273 cases and 128 deaths, while the government tightened restrictions further in an attempt to contain the expanding outbreak. …

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