Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 19 October 2020 9:54 pm

  Turkey Expected to Hike Rates by 1.75%

  

  The Central Bank of Turkey is expected to raise its main interest rate by 175 basis points to 12% this week, according to a Reuters poll. Despite a surprise 2% increase in interest rates last month, the Turkish Lira (TRY) declined by 4% against the US Dollar (USD), continuing its …

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• 19 October 2020 9:20 pm

  Business Sentiment in Canada Improves in Q3

  

  Business sentiment in Canada improved during the third quarter (Q3) of 2020, as lockdown measures and preventive measurements against the Coronavirus (COVID-19) pandemic were eased, according to data by the Bank of Canada (BoC). The BoC business outlook indicator slightly rose compared with Q2, but remained below its average, remaining …

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• 19 October 2020 8:55 pm

  GBP/USD Rises Despite Brexit Uncertainty

  

  The British Pound (GBP) rose on Monday, despite uncertainty surrounding trade talks between the United Kingdom (UK) and the European Union (EU), amid hopes for the two parties reaching an agreement before the end of the year. London does not plan to return to trade negotiations with the EU next …

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• 19 October 2020 8:46 pm

  European Stocks Erase Earlier Gains to Close in Red

  

  European stocks gave up earlier gains and closed Monday lower, amid uncertainty surrounding Brexit talks between the United Kingdom (UK) and the European Union (EU). The STOXX Europe 600 index closed lower by 0.3%, after rising earlier today by 0.8%. Meanwhile, the UK’s FTSE100 fell by 0.59%. Similarly, the French …

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• 19 October 2020 8:08 pm

  UK Not Planning Trade Talks with EU Next Year

  

  The United Kingdom (UK) does not plan to return to trade negotiations with the European Union (EU) next year, according to the Prime Minister Boris Johnson’s spokesman “We have been repeatedly clear that any agreement needs to be in place before the end of the transition period, and we will …

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• 19 October 2020 6:37 pm

  Halliburton Posts Losses in Q3

  

  Halliburton reported quarterly losses for the fourth consecutive quarter, amid disruptions caused by the COVID-19 crisis affecting the global demand for oil. Revenues decreased to $1.57 billion down by 55% from $3.51 billion for the same quarter last year. The oil giant posted a net loss of $17 million during …

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• 19 October 2020 6:31 pm

  Fed’s Powell Urges Caution with US Digital Currency

  

  The United States Federal Reserve Chair Jerome Powell said on Monday that it is more important for the US to get it a digital currency right than to just be first in the field. “We do think it’s more important to get it right than to be first and getting …

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• 19 October 2020 6:25 pm

  Lagarde: ECB to Maintain Accommodative Policy

  

  The European Central Bank (ECB) is set to maintain an accommodative policy amid the COVID-19 crisis, said the bank’s President Christine Lagarde on Monday, Reuters reported. Lagarde further revealed that EUR 590 billion of the EUR 1.35 trillion asset purchase programme have already been allocated to help maintain interest rates …

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• 19 October 2020 6:08 pm

  Wall Street Opens Higher on Renewed Hopes For a Stimulus Agreement

  

  Major US stock indices opened higher today, Monday, thanks to hopes that a vaccine for the Coronavirus will be available by the end of the year, while investors are also encouraged by indications that an agreement will soon be reached in Washington on a financial package. The Dow Jones Industrial …

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• 19 October 2020 5:42 pm

  US Wholesale Sales Rose For Fourth Month in a Row

  

  Wholesale sales in the Canadian economy increased for the fourth consecutive month in August, more than analysts’ expectations. data released by Statistics Canada showed on Monday, that wholesale sales in Canada posted an increase of 3% last August compared to 4.3% in July. Analysts had expected that wholesale sales in …

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• 19 October 2020 5:07 pm

  China’s Crude Oil Production Grew by 2.4% in September

  

  Data from the Chinese Bureau of National Statistics showed today, Monday, that China’s crude oil production rose 2.4% year on year in September to 16.1 million tons, while natural gas production increased 7.6% from a year ago. Crude oil production grew 1.7% year on year in the first nine months …

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• 19 October 2020 4:15 pm

  OPEC+ Facing Expectations of Weak Oil Demand

  

  Sources in OPEC+ told Reuters that the group of oil-producing countries will meet on Monday to discuss expectations of weak demand in light of the high cases of Coronavirus and the increase in Libya’s production, but it is unlikely to recommend immediate action. A joint ministerial monitoring committee, including the …

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• 19 October 2020 3:18 pm

  Oil Drops After Chinese Data; All eyes on OPEC+

  

  Oil prices fell today, Monday, after the growth of the Chinese economy in the third quarter of the year was weaker than expected, highlighting concerns about the impact of the growing Coronavirus infections around the world on demand for the largest importer of crude in the world. The world’s second-largest …

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