Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 28 October 2020 11:31 am

  API: Crude And Gasoline Stocks Rose Last Week

  

  Data from the American Petroleum Institute (API) on Tuesday showed that US inventories of crude oil and gasoline increased last week. Crude inventories rose by 4.6 million barrels over the week ending October 23 to about 495.2 million barrels, while analysts’ expectations were for a decline of 1.2 million barrels. …

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• 28 October 2020 2:14 am

  Turkish Lira Hits a New Record Low

  

  The Turkish Lira (TRY) declined on Tuesday to another record low, with expectations the USD/TRY pair could now reach an unprecedented 8.5 or 9 levels. The Turkish currency’s losses since the beginning of the year against the US Dollar (USD) have now reached 20%. The USD/TRY is higher for the …

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• 28 October 2020 2:08 am

  NYSE Declines as COVID-19 Cases Rise

  

  The New York Stock Exchange (NYSE) closed on Tuesday mostly lower, amid concerns about another wave of the Coronavirus pandemic, while tech stocks registered a good performance. The Dow Jones Industrial Average declined by 222.2 points, or 0.8%, and closed at 27,463.2 points. The S&P 500 index fell by 10.29, …

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• 28 October 2020 1:01 am

  US Treasury Yields Decline amid COVID-19 Worries

  

  Treasury yields in the United States declined on Tuesday, amid rising concerns about another wave of the Coronavirus (COVID-19) pandemic, as well as the upcoming elections and the anticipated stimulus package. Return on the 10-year Treasury note declined by 2.3 basis points to 0.778%. The 30-year bond yield decreased by …

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• 27 October 2020 11:37 pm

  Oil Prices Rise on Storm Zeta News

  

  Oil prices rose on Tuesday as weather conditions are expected to once again affect production in the Gulf of Mexico, On the other hand, a gloomy outlook for global demand amid another surge in COVID-19 cases limited crude gains. Brent crude futures for December delivery increased by 74 cents, or …

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• 27 October 2020 11:03 pm

  Gold Settles at Week-High

  

  Gold prices closed higher on Tuesday, as the US Dollar (USD) declined across the board amid selling pressures, while demand for safe havens remained high amid worries about another wave of the COVID-19 pandemic. Gold futures for December delivery rose by $6.20, or 0.3%, and finished at $1,911.90 per ounce. …

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• 27 October 2020 10:58 pm

  ECB to Lower Inflation Expectations – Goldman Sachs

  

  Goldman Sachs expects the board of the European Central Bank (ECB) to lower their inflation projections for 2020-2021. This comes in light of the large downside surprise in August inflation and the appreciation of the Euro (EUR). As for inflation expectations for 2022, they are forecasted to remain unchanged. Moreover, …

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• 27 October 2020 9:25 pm

  European Bond Yields Decline on COVID-19 Concerns

  

  Bond yields in the Eurozone declined on Tuesday, as German yields fell to its lowest level in a week, amid increased demand for safe havens due to the rising number of COVID-19 cases. This comes ahead of the upcoming meeting by the European Central Bank (ECB). In Germany, the return …

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• 27 October 2020 9:05 pm

  USD Declines on Selling Pressures

  

  The US Dollar declined on Tuesday amid selling pressures for profit making and concerns about the rising number of COVID-19 cases. The Dollar Index (DXY), which measures the performance of the USD against a basket of six international currencies, is down by 0.22% at 92.84. The index has been moving …

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• 27 October 2020 9:01 pm

  Pfizer Not Ready to Announce Vaccine Results

  

  The CEO of Pfizer said on Tuesday that the pharmaceuticals company is yet to confirm progress on the making of a COVID-19 vaccine. The confirmation could take a week or more, Reuters reported. “In case of a conclusive readout, positive or negative, we will inform the public as soon as …

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• 27 October 2020 8:38 pm

  European Stocks Maintain Downward Trend

  

  European stock markets closed lower on Tuesday, due to the surge in the number of COVID-19 cases amid a second wave of the pandemic. The STOXX Europe 600 index fell by 0.75%, while the UK’s FTSE100 finished lower by 0.85%. Germany’s DAX plummeted by 0.78%, while the French CAC40 index …

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• 27 October 2020 7:10 pm

  BoE Expected to Expand Asset Purchases

  

  The Bank of England (BoE) is expected to expand its huge bond-buying stimulus program next week, for the third time since the beginning of the Coronavirus (COVID-19) pandemic, Reuters reported. The asset purchase program is set to be increased by GBP 100 billion to a total of GBP 845 billion, …

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• 27 October 2020 6:20 pm

  US CB Consumer Confidence Index Edges Lower in October

  

  Consumer confidence in the US weakened sharply in October with the Conference Board’s Consumer Confidence Index edging lower to 100.9 from 101.3 (revised from 101.8) in September. This reading came in worse than Reuters’ estimate of 102. Further details of the publication showed that the Consumer President Situation Index climbed …

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