Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 5 December 2020 2:02 am

  Oil Rises and Logs 2% Weekly Rise

  

  Oil prices rose on Friday, extending its weekly gains, supported by a positive reaction to the OPEC+ move, which is seen as an indicator of market recovery signs. Brent crude futures for February delivery rose by 54 cents, or 1.1%, to finish at $49.25 per barrel. For the week, the …

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• 5 December 2020 1:44 am

  US Oil Rigs Rise in Week

  

  Active crude oil and natural gas rigs in the United States rose this week, for the eleventh time in 12 weeks. Oil and gas rig count increased by three to 323 in the week that ended on December 4, according to the Baker Hughes weekly report. Oil rigs alone increased …

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• 5 December 2020 1:37 am

  Gold Declines but Scores Weekly Gains

  

  Gold prices declined on Friday, despite the decline of the US Dollar (USD), amid improved investors’ sentiment on Coronavirus vaccine progress. Gold futures for February delivery decreased by $1.10, or 0.1%, and closed at $1,840 per ounce. For the week, the yellow metal contracts gained 2.9%. On the other hand, …

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• 4 December 2020 10:12 pm

  Fed’s Evans Comfortable with Asset Purchases Pace

  

  The President of the Federal Reserve Bank of Chicago, Charles Evans, said on Friday that he is comfortable with the current pace of the bond-buying program by the Fed, Reuters reported. “I am not opposed to more accommodation – I’m just not exactly sure what the right timing is.”“I don’t …

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• 4 December 2020 8:43 pm

  Global Debt-to-GDP Ratio Seen Rising by 14%

  

  S&P Global expects global debt to reach $200 trillion, amounting to 265% of the world’s GDP, by the end of 2020, Reuters reported. The 14% increase in the global debt-to-GDP ratio comes amid increased borrowing to face the economic consequences of the Coronavirus crisis. The ratings agency does not see …

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• 4 December 2020 8:37 pm

  US Factory Orders Rise 1% in October

  

  New factory orders in the United States grew by 1% in October, compared with a previous estimate of 1.3%, data by the US Department of Commerce showed on Friday. Orders for non-defense capital goods, excluding aircrafts, went up by a revised reading of 0.8% in October instead of 0.7% as …

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• 4 December 2020 8:28 pm

  European Stocks Close Higher on Improved Sentiment

  

  European stocks closed higher on Friday, supported by hopes for a new stimulus package in the United States and a post-Brexit trade agreement. The pan-European STOXX 600 index finished higher by 0.40% at 391.31 points. Meanwhile, the UK’s FTSE100 surged by 0.88%. The French CAC40 increased by 0.37%, while the …

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• 4 December 2020 6:16 pm

  US Trade Deficit Rises 1.7% in October

  

  Trade deficit in the United States increased by 1.7% during October to $63.1 billion, data by the US Department of Commerce showed on Friday. The September reading was revised to $62.1 billion instead of an initially estimated $63.9 billion deficit. Imports grew by 2.1% to $245.1 billion, while exports went …

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• 4 December 2020 5:46 pm

  Canada: Unemployment Rate in November Falls to 8.5%

  

  The Unemployment Rate in Canada declined to 8.5% in November from 8.9% in October, the data published by Statistics Canada showed on Friday. This reading beat analysts’ estimate of 8.9%.

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• 4 December 2020 5:40 pm

  US Nonfarm Payrolls Rise by 245,000 in November

  

  Nonfarm Payrolls (NFP) in the US rose by 245,000 in November, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed October’s increase of 610,000 and missed the market expectation of 469,000 by a wide margin.

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• 4 December 2020 5:31 pm

  Johnson: We Are at a Very Difficult Point in Talks

  

  British Prime Minister Boris Johnson’s spokesman said on Friday that it will not be possible to reach a deal with the EU if it doesn’t respect the UK’s fundamental principle of taking back control, as reported by Reuters. “PM will work at chequers this weekend, will be in contact with …

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• 4 December 2020 4:49 pm

  China Comfortable With Yuan Rises as Economy Recovers

  

  Sources told Reuters that policymakers in China are comfortable with the yuan’s rise to its highest level in two and a half years, at a time when the recovery of the world’s second-largest economy accelerates and the central bank gives the market more freedom in determining the currency’s value. But sources …

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• 4 December 2020 4:13 pm

  UK: New Car Registrations Slip by Only a Quarter in November

  

  New car registrations in Britain fell 27.4% year-on-year in November, industry data released on Friday said, as England spent most of November in its second national lockdown. The Society of Motor Manufacturers and Traders (SMMT) revealed this morning said that sales amounted to 113,781 cars, as an option to buy …

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