Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 10 December 2020 5:40 pm

  Unemployment Dropping in Turkey to The Lowest Level Since 2018

  

  According to data, unemployment in Turkey decreased to 12.7% in the third-quarter ending in September, as the economic movement accelerated between the first and second waves of the Coronavirus. The unemployment rate is the lowest since the end of 2018, when the currency crisis pushed the economy into recession. Unemployment …

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• 10 December 2020 5:37 pm

  Fitch Raises Its 2021 China Growth Forecast to 8% From 7.7%

  

  Credit rating agency Fitch raised its forecast this week for Chinese economic growth next year, based on increased domestic demand and expectations of a coronavirus vaccine deployment. Fitch now expects China’s GDP to expand 8% in 2021, up from the 7.7% forecast in September. “This would be much higher than …

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• 10 December 2020 5:00 pm

  Breaking: ECB Leaves Rates Unchanged, Expands PEPP by €500 Billion to End-March 2022

  

  The European Central Bank (ECB) decided to leave the interest rates on the main refinancing operations, the marginal lending facility and the deposit facility unchanged at 0.00%, 0.25% and -0.50%, respectively, as expected. The ECB further announced that it decided to increase the envelope under the Pandemic Emergency Purchase Programme …

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• 10 December 2020 4:30 pm

  Euro Settled Ahead of Expected Stimulus From ECB, Sterling Falling

  

  The euro stabilized Thursday, December 10, before the European Central Bank unveiled new stimulus measures, while the British pound fell after trade talks on Brexit were extended until the next few days, seeking an elusive breakthrough. European Central Bank officials have made clear in recent weeks that a larger program …

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• 10 December 2020 3:40 pm

  Britain’s GDP Growth Slowed in October Due to The Pandemic

  

  Official figures showed that the recovery of the British economy almost stopped in October due to the high number of cases of Coronavirus, which dealt a blow to the hospitality sector. The Office for National Statistics said gross domestic product rose 0.4% month-on-month, which is in line with expectations in …

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• 10 December 2020 3:38 pm

  European Stocks Stable Ahead of ECB Decision

  

  Not much changed in European stocks Thursday, December 10 after a meeting between the leaders of Britain and the European Union on a trade deal failed to yield progress, while investors were reluctant to make big bets due to an awaited decision from the European Central Bank later today. The …

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• 10 December 2020 2:15 pm

  Gold Falling as Investors Wary to Delay The US Stimulus

  

  Gold fell Thursday, December 10, after heavy selling in the previous session, with the uncertainty continuing regarding the long-running fiscal stimulus negotiations in the United States. Gold fell in the spot market 0.2% to $ 1835.40 an ounce, after falling by as much as 2.5% on Wednesday. Gold futures in …

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• 10 December 2020 2:11 pm

  CBI: UK Economy Will Not Recover From The Pandemic Before The End of 2022

  

  The Confederation of British Industry (CBI) has warned that the country’s economy is unlikely to return to its pre-COVID-19 scale before the end of 2022 and that unemployment appears to rise sharply in the first half of next year. The union expected the British economy to contract by a record …

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• 10 December 2020 1:17 pm

  Japan Stocks Close Lower, Softbank Jumps 11%

  

  Japanese stocks closed lower Thursday, December 10, as the Brexit crisis and political squabbling over fiscal stimulus in the United States pressured investor sentiment around the world, while market heavyweight Softbank Group jumped to its highest level in more than 20 years thanks to the inclusion of Doordash. Softbank rose …

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• 10 December 2020 1:12 pm

  ECB Preview: Can Drag Euro Lower?

  

  The European Central Bank faces a difficult situation as it needs to decide whether to resort to a more monetary stimulus or whether to take smaller steps to address the current risks. The euro was one of the best performing currencies, up 8% against the dollar so far while it …

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• 10 December 2020 3:39 am

  BoC Maintains Interest Rates in Last Meeting of 2020

  

  The Bank of Canada (BoC) on Wednesday maintained interest rates unchanged, as well as its extraordinary forward guidance, reinforced and supplemented by its quantitative easing (QE) program, which continues at its current pace of at least $4 billion per week. The rebound in the global and Canadian economies has unfolded …

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• 10 December 2020 12:47 am

  Oil Closes Mixed Following Inventory Report

  

  Oil prices ended Wednesday on a mixed note, following a surprise surge in crude inventories in the United States last week. Brent crude futures for February delivery added 2 cents to close $48.86 a barrel. Meanwhile, the West Texas Intermediate (WTI) futures for January delivery fell by 8 cents to …

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• 9 December 2020 11:56 pm

  Gold Finishes Lower for First Time This Week

  

  Gold prices declined for the first time this week, after two consecutive rises, as both the US Treasury yields and the US Dollar (USD) rose on Wednesday. In addition, positive news about Coronavirus vaccines are limiting demand for safe havens. Gold futures for February delivery decreased by $36.40, or 1.9%, …

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