Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 13 October 2020 10:46 pm

  Gold Prices Fall for First Time in Four Days

  

  Gold prices declined on Tuesday, as the US Dollar rose across the board, making its first daily decline in four sessions. Gold futures for December delivery decreased by $34.30, or 1.8%, to close at $1,894.60 per ounce. The Dollar index (DXY) is up by 0.51% at 93.54.

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• 13 October 2020 9:37 pm

  McAfee Plans $814 M IPO – Reports

  

  McAfee Corp, a company specialized in antivirus and cybersecurity solutions is planning to raise up to $814 million through an initial public offering (IPO) in the United States, Reuters reported. Around 31 million shares are expected to be sold, while the selling stockholders are set to offer about 6 million …

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• 13 October 2020 9:23 pm

  GBP Declines on USD Strength and Brexit Uncertainty

  

  The British Pound (GBP) declined against the US Dollar (USD) on Tuesday, following four consecutive rises, as the USD rose supported by inflation data, while the GBP remains impacted by Brexit trade talks uncertainty. The GBP/USD is down by 0.82% for the day at 1.2957. The pair has been moving …

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• 13 October 2020 9:18 pm

  European Stocks Close Lower

  

  European stocks closed lower on Tuesday, following the beginning of the earning reports season in Wall Street, and amid uncertainty surrounding the second wave of the Coronavirus (COVID-19) pandemic. The STOXX Europe 600 index closed lower by 0.7%, while the UK’s FTSE100 maintained losses and declined by 0.53%. Meanwhile, the …

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• 13 October 2020 8:34 pm

  IMF Expects 4.4 Global Contraction in 2020

  

  A report by the International Monetary Fund (IMF) revealed on Tuesday that the outlook for developed economies is better than previously expected, due to the recovery from the impacts of the COVID-19 pandemic, while emerging markets are expected to face some hardships. The latest World Economic Outlook expects a global …

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• 13 October 2020 7:27 pm

  USD Rises Following Inflation Data

  

  The US Dollar (USD) rose on Tuesday, as data showed an increase in consumer prices but at a slow pace. The Dollar index (DXY), which measures the performance of the USD against a basket of six international currencies, is up by around 0.50% for the day, at 93.51. The index …

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• 13 October 2020 5:58 pm

  US Consumer Prices Slowed in September For The Fourth Consecutive Month

  

  Consumer prices in the United States rose in September for the fourth month in a row but at a slower pace amid noticeable weakness in the economy as it gradually recovered from recession due to the Covid-19 pandemic. The US Labor Department said on Tuesday that its consumer price index …

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• 13 October 2020 5:29 pm

  IMF Forecasts 2020 Global Economic Contraction at 4.4%

  

  In its latest World Economic Outlook report, the International Monetary Fund noted that it forecasts the global economy to contract by 4.4% in June, compared to 5.2% contraction in June’s publication, as reported by Reuters. “IMF forecasts 2021 global growth at 5.2% vs 5.4% in June, forecasts use revised purchasing …

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• 13 October 2020 4:57 pm

  Monthly OPEC Report: Reducing Growth Forecast by 200,000

  

  The OPEC monthly report showed that the global economic growth forecast was kept at -4.1%, while the global economic growth forecast was reduced to 4.6% in 2021. The report expected a decline in global demand for oil by 9.5 million barrels per day in 2020, while the report reduced demand …

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• 13 October 2020 4:14 pm

  China’s Auto Sales Post a Jump in September

  

  Car sales in China recorded growth for the sixth consecutive month in September, increasing by 12.8% as the world’s largest car market recovered from low levels recorded in light of the isolation measures related to the Corona virus. September and October are usually considered a peak sales period in the …

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• 13 October 2020 3:30 pm

  Unemployment in Britain Rises at 4.5% in October

  

  The unemployment rate in the United Kingdom witness an increase in October by more than analysts’ expectations, and data issued by the British National Statistics Office on Tuesday showed that the unemployment rate came at 4.5% during the month of October, compared with 1.4% the previous month’s reading. Analysts had …

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• 13 October 2020 2:31 pm

  German ZEW Economic Sentiment Slumps to 56.1 in October

  

  The German ZEW headline numbers for October showed that the Economic Sentiment Index came in at 56.1 versus 73.0 expectations and 77.4 last. While the sub-index Current Conditions figure arrived at -59.5 in Oct versus -60.0 expected and -66.2 booked previously. Meanwhile, the Eurozone ZEW Economic Sentiment for Oct stood …

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• 13 October 2020 1:44 pm

  Gold Falls as US Dollar Recovers And Investors Await The US Stimulus

  

  Gold fell on Tuesday with the recovery of the dollar, but the price of the precious metal may receive future support from an American stimulus package that increases its attractiveness as a hedge against the resulting inflation. Gold fell in the spot market 0.3% to 1917.16 dollars an ounce, and …

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