Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 13 November 2020 6:08 pm

  OPEC+ Compliance With Oil Production Cuts in October at 101%

  

  Two OPEC + sources told Reuters on Friday that the producer group’s compliance with the October oil production cuts is expected to reach 101 percent.

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• 13 November 2020 5:32 pm

  Fed’s Williams: We Are Still in an Extraordinary Situation With COVID

  

  Regarding the fiscal policy and additional stimulus, New York Federal Reserve President John Williams noted that they are still in an extraordinary situation with the coronavirus outbreak, as reported by Reuters. “Fed’s inflation target will call for inflation going modestly above 2% for some period of time.”“Climate change is a …

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• 13 November 2020 5:14 pm

  The G20 ِAgrees on a Framework For Structuring Debt in The Future

  

  The Group of Twenty (G20) finance ministers agreed for the first time on Friday on a new joint framework for restructuring government debt in anticipation that the coronavirus crisis could lead some poor countries to need significant debt forgiveness. Large creditors, including China, are expected to follow common guidelines that …

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• 13 November 2020 4:09 pm

  Germany’s Economy Takes a Hit From Lockdown Measures in November

  

  The German economy ministry said on Friday that the country’s economic recovery has continued until October but has slowed since August, adding that lockdown measures put in place to slow the spread of the Coronavirus hurt the economy in November. But the ministry said it did not look like the …

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• 13 November 2020 3:50 pm

  US Dollar Falling as Vaccine Optimism Recedes and Yen Towards Worst Week Since March

  

  The dollar fell on Friday and risk appetite dwindled in currency markets, as concerns about the economic consequences of the spike in COVID-19 cases in Europe and the United States dampened initial enthusiasm about a possible vaccine. Global markets rose on Monday after Pfizer said its experimental vaccine was more …

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• 13 November 2020 2:54 pm

  Eurozone Preliminary GDP Arrives at 12.6% QoQ in Q3

  

  The Eurozone economy saw a rebound of 12.6% on quarter in the three months to September of 2020, missing +12.7% expected. Data released by the European Statistics Office (Eurostat) revealed on Friday. On an annualized basis, the bloc’s GDP dropped by 4.4% in Q3 vs. -4.3% seen in the previous reading while …

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• 13 November 2020 2:20 pm

  European Stocks Take a Hit After a Weekly Rally

  

  The benchmark index of European stocks fell today, Friday, heading towards the weekly decline, as the increase in cases of coronavirus cases exacerbated fears of damage to the continent’s economy in the coming winter months. The pan-European STOXX 600 index fell 0.3%, after jumping earlier in the week thanks to …

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• 13 November 2020 1:06 pm

  Oil Easing on Covid-19 Cases But Heading For a Weekly Gain

  

  Oil prices plummeted on Friday, as they are under pressure due to concerns about a slowing global economic recovery and fuel demand due to an increase in COVID-19 cases, but the market remains on track to make gains for the second week in a row, supported by hopes for a …

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• 13 November 2020 12:36 pm

  Gold Supported by Virus Fears But Heading For The Worst Week Since September

  

  Gold prices stabilized in a narrow range today, Friday, supported by concerns about the economic consequences resulting from the escalation of Covid-19 cases, but the yellow metal is heading towards its first weekly loss since September, as it boosted hopes for a vaccine for high-risk assets earlier this week. With …

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• 13 November 2020 12:10 pm

  Nikkei Index Ends 8-Session Winning Streak

  

  The Nikkei index closed in the Tokyo Stock Exchange lower today, Friday, ending gains that continued for eight consecutive sessions, as investor sentiment was undermined by fears due to a new rise in new cases of the emerging coronavirus inside and outside Japan. The benchmark Nikkei index fell 0.53% to …

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• 13 November 2020 2:17 am

  Powell: Coming Months Could be Challenging

  

  The Chairman of the United States Federal Reserve, Jerome Powell, said on Thursday that economic recovery in the US has been faster and stronger than expected, but it is slowing a bit, which is understandable. The recovery remains uneven and incomplete, according to Powell’s remarks to the European Central Bank …

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• 13 November 2020 1:41 am

  Oil Prices Mixed on Unexpected Inventories Buildup

  

  Oil prices showed a mixed performance on Thursday, after data showed a surprise increase in crude inventories in the United States. In addition, concerns about the rising number of Coronavirus cases pressured crude prices despite commitment from the OPEC+ alliance to maintain output curbs. Brent crude futures for January delivery …

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• 12 November 2020 11:34 pm

  USD/CAD Reaching New Week Highs

  

  The US Dollar (USD) is rising on Thursday against its Canadian counterpart (CAD) to new week highs, despite a recovery by crude oil prices, which did not provide the needed support to the Canadian Dollar. The USD/CAD pair is trading higher for the day by 0.60% at 1.3142. Earlier today, …

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