Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 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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• 19 October 2020 2:35 pm

  European Stocks Are Rising Supported by Strong Results

  

  European stocks rose in early trade on Monday, supported by strong results from Dutch Phillips and Swiss wealth manager Julius Baer, ​​overshadowing concerns about new restrictions imposed to combat the Coronavirus across the continent. The pan-European STOXX 600 index was up 0.8%, resuming its rise after suffering limited weekly losses. …

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• 19 October 2020 1:50 pm

  Gold Rising on Fears of Coronavirus And Hopes of US Stimulus

  

  Gold prices rose on Monday, supported by concerns about the worsening Covid-19 pandemic, while the precious metal prices were also boosted by hopes for a new US stimulus package ahead of the presidential elections in November. The spot price of gold was up 0.6% to $ 1909.90 an ounce, while …

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• 19 October 2020 1:47 pm

  Japanese Exports Fell More Than Expected by 4.9% in September

  

  Japanese exports fell 4.9% in September year on year, more than expected. Imports decreased by 17.2%, better than expectations for a decline of 21.4%. As a result, the trade surplus decreased to 675.0 billion yen. It is reported that Japanese exports to China increased by 14.0%, the largest increase since …

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• 19 October 2020 1:37 pm

  The Chinese Economy Grew 4.9% in Q3, But Below Expectations

  

  China’s economic recovery accelerated in the third quarter of the year as consumers abandoned caution about the Coronavirus, but the main below-expected growth rate foretells continued risks to one of the few drivers of global demand. Official data revealed on Monday that gross domestic product (GDP) grew 4.9% from July …

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• 19 October 2020 12:34 pm

  Japan Shares Closed Higher Thanks to Renewed Hopes For US Stimulus

  

  Japanese shares closed higher on Monday, following US futures gains in Asian trade, thanks to hopes of reaching an agreement on a US program to mitigate the economic damage from the Corona virus before the presidential elections. The benchmark Nikkei index rose 1.11% at the close to 23,671.13 points, while …

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• 17 October 2020 12:45 am

  Wall Street Finishes Week With Marginal Gains

  

  The New York Stock Exchange (NYSE) finished the week with marginal gains, supported by an improvement in investors’ sentiment after data showed an increase in retail sales in the United States. The Dow Jones Industrial Average added 112.11 points, or 0.39%, to close at 28,606.31, rising by about 0.1% for …

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• 17 October 2020 12:40 am

  Oil Prices Limit Weekly Gains

  

  Oil prices declined on Friday, amid concerns about the second wave of the COVID-19 pandemic and its impact on the global demand for energy. However, losses were marginal due to support from the commitment expressed by the OPEC+ alliance to output curbs. Brent crude futures for December delivery plunged by …

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