Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 12 November 2020 2:00 am

  Gold Returns to Losses as USD Rises

  

  Gold prices declined on Wednesday, returning to losses after a brief recovery on Tuesday, as demand for the yellow metal decreased since news about the COVID-19 vaccine success emerged. In addition, a rise by the US Dollar (USD) across the board, led to the precious metal price decline. Gold futures …

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• 11 November 2020 11:30 pm

  EIA: Energy Outlook Remains Subject to COVID-19

  

  The Short-Term Energy Outlook (STEO) remains subject to heightened levels of uncertainty because responses to COVID-19 continue to evolve, according to the United States Energy Information Administration (EIA). Reduced economic activity related to the COVID-19 pandemic has caused changes in energy demand and supply patterns in 2020 and will continue …

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• 11 November 2020 10:32 pm

  S&P 500 Could Hit 4,300 in 2021

  

  The S&P 500 index could rise by 20% and hit 4,300 points by the end of 2021, according to a recent report by Goldman Sachs that was picked up by MarketWatch. Positive news about Coronavirus vaccine trials have improved investors’ sentiment in the stock market, and an economic recovery from …

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• 11 November 2020 9:34 pm

  Turkish Lira Up More than 4.2% Against USD

  

  The Turkish Lira (TRY) is recovering against the US Dollar (USD) after recently falling to new unprecedented record lows. Changes in the leadership of the Turkish central bank and the finance ministry are seemingly providing some short turn support to the Lira, which rose to its highest level against the …

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• 11 November 2020 9:08 pm

  EUR/USD Down on Economic Recession Fear in Eurozone

  

  The Euro (EUR) is declining against the US Dollar (USD) on Wednesday with the later rising and the European currencies being weighed down by fears over the new wave of the Coronavirus pandemic. Lockdowns in many European countries, and fears of a prolonged economic recession are both pushing the European …

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• 11 November 2020 8:49 pm

  Trudeau Sees Trade Deal with UK by Yearend

  

  The Prime Minister of Canada, Justin Trudeau, expects a trade agreement with the United Kingdom (UK) to be reached by the end of 2020, Reuters reported. “I think we’re ready to have it done before January 1. One of the challenges is bandwidth.” “The UK hasn’t had to negotiate trade …

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• 11 November 2020 8:45 pm

  European Stocks Maintain Rising Trend

  

  European stocks closed higher on Wednesday, as the market remains optimistic about the positive results shown by the COVID-19 vaccine being developed by Pfizer and BionTech. The STOXX Europe 600 index closed higher by 1.2%, while the UK’s FTSE100 added 1.56%. The French index CAC40 rose by 0.67%, while the …

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• 11 November 2020 8:39 pm

  Georgia to Manually Recount Presidential Election Ballots

  

  The state of Georgia will hold a statewide recount of ballots cast in the recent presidential elections between President Donald Trump and President-elect Joe Biden, Secretary of State Brad Raffensperger announced Wednesday, CNBC reported. “With the margin being so close, it will require a full, by-hand recount in each county.” …

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• 11 November 2020 8:31 pm

  EU Approves New Trade Deal with US

  

  The European Union (EU) supported a small trade agreement with the United States that will see the removal of tariffs on American lobsters, as the US awaits a new administration, Reuters reported. The agreement, which was reached in August, will remove 8% to 12% tariffs on the imports of lobsters, …

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• 11 November 2020 7:35 pm

  Dollar Rises across the Board

  

  The US Dollar (USD) continues to show a positive performance on Wenesday, supported by an improved investors’ sentiment. The Dollar Index (DXY), which measures the performance of the USD against a basket of six major international currencies, is up by 0.45% at 93.17 earlier in the American session. The index …

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• 11 November 2020 5:53 pm

  Christine Lagarde’s Speech Summary

  

  Christine Lagarde, President of the European Central Bank, is delivering her remarks at the ECB Forum on Central Banking 2020. “Developments in the exchange rate may have a negative impact on the path of inflation.”“If this second wave of the virus proves to be less intense than the first, it …

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• 11 November 2020 5:23 pm

  US: Mortgage Applications Fall For The First Time in Three Weeks

  

  Data released by the Mortgage Bankers Association showed that mortgage applications in the United States fell 0.5% in the week ending November 6th.It marked the first drop in three weeks, after an increase of 3.8% in the previous period. The average contract interest rate for 30-year fixed-rate mortgages with conforming …

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• 11 November 2020 4:48 pm

  Oil Rises to $45 For The First Time Since August!

  

  Oil rose to $45 a barrel during Europen session for the first time in 10 weeks. Where the apparent decline in US crude inventories reinforced the rise in oil prices, which was mainly supported by Pfizer’s vaccine. The American Petroleum Institute (API) reported that crude inventories fell 5.15 million barrels …

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