Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 31 December 2020 2:01 pm

  Oil on track to Decline 20% in 2020 Due to Isolation And Market Eyes on Further Stimulus

  

  Global crude oil markets lost about a fifth of their value in 2020, as strict lockdown measures to combat the Coronavirus have crippled most of the global economy, but prices have rebounded strongly from their low levels as governments provide a stimulus. On Thursday, the last trading day in 2020, …

  Read More »
• 31 December 2020 1:19 pm

  Gold Prices Are on Track to Achieve Best Annual Performance in 10 Years

  

  Gold prices, on Thursday, December 31, seem to be heading to achieve the best annual performance since 2010, even at a time when the yellow metal is under pressure due to the weak prospects of providing greater financial aid in order to stimulate the US economy and the recovery of …

  Read More »
• 31 December 2020 12:35 pm

  Turkey’s Trade Deficit Rises to $5 Billion in November

  

  Data from the Turkish Statistics Institute showed that the country’s external trade deficit rose 153.5% year on year in November to $5.033 billion according to the general trade system. The institute said that Turkey’s exports fell 0.9% and imports rose 15.9% compared to November 2019. In the first eleven months …

  Read More »
• 31 December 2020 12:34 pm

  Asian Shares Mixed as Turbulent Year Ends

  

  Asian stocks swung between gains and losses during the early hours of the last trading day of 2020. While Chinese stocks benefit from improved Manfuctring activity numbers in December and coronavirus vaccine news. The MSCI Asia Pacific Index of stocks outside Japan rose 0.43%. The Australian ASX 200 is down …

  Read More »
• 31 December 2020 12:24 pm

  Gasoline Prices in The US Hit a 9-month High as Refiners Continue to Cut Production

  

  Gasoline prices in the United States hit a nine-month high, as drivers take to the roads in the holiday season, crude oil prices continue to rise and refiners continue to reduce fuel production due to weak profit margins. According to the American Automobile Federation, gasoline prices at gas stations exceeded …

  Read More »
• 31 December 2020 12:21 pm

  Chinese Manufacturing PMI Fell to 51.9 in December

  

  The manufacturing PMI fell to 51.9 in December from 52.1 last November. The Chinese economy is expected to expand about 2% for the full year at the weakest pace in more than three decades. The official PMI showed that the new export orders sub-index stood at 51.3 in December, down …

  Read More »
• 31 December 2020 12:15 pm

  Oil Prices Rise on Drop in US Crude Inventories

  

  Oil prices rose on Wednesday, supported by a larger-than-expected drop in crude stocks in the United States and Britain’s approval of a second anti-Corona virus vaccine, but it is under pressure from dwindling hopes for a strong recovery in demand. Brent crude futures, the global benchmark, ended the trading session …

  Read More »
• 31 December 2020 12:12 pm

  Wall Street Closed Higher on Hopes of Economic Recovery

  

  US stocks rallied on Wednesday as investors looked for improved economic prospects in 2021 following the distribution of vaccines to prevent Covid-19 disease and hopes for more financial support. The Dow Jones Industrial Average ended the trading session on Wall Street, up 73.89 points, or 0.24%, to 30,409.56 points, while …

  Read More »
• 31 December 2020 12:20 am

  Gold Finishes on Higher Note

  Gold prices finished Wednesday higher, supported by the decline of the US Dollar (USD) across the board. The yellow metal futures for February delivery closed higher by 0.6% at $1,893.40 per ounce. The DXY is down by 0.37% at 89.66.

  Read More »
• 30 December 2020 9:36 pm

  British Parliament Approves Brexit Trade Deal

  

  The British parliament has approved on Wednesday the post-Brexit trade deal with the European Union (EU). This comes a couple of days before the end of the transition period after the government of Prime Minister Boris Johnson reached an agreement with the EU regarding future relations between the two parties …

  Read More »
• 30 December 2020 9:32 pm

  European Stocks Finish Lower

  

  European stocks closed Wednesday on a lower note after the approval of the post-Brexit trade deal between the United Kingdom (UK) and the European Union (EU). The pan-European STOXX 600 index finished lower by 0.34%. The UK’s FTSE100 declined by 0.71%, while the French index CAC40 finished lower by 0.22%. …

  Read More »
• 30 December 2020 9:21 pm

  What Will Move Oil Prices in 2021?

  

  The Coronavirus pandemic has severely impacted the global oil industry, with crude prices hitting lows not seen in decades amid a decline in demand for energy in 2020. After starting the year with oil prices at $70 per barrel, supported by the recovery that was helped by the OPEC+ alliance …

  Read More »
• 30 December 2020 7:48 pm

  US Trade Deficit Widens in November

  

  Trade deficit in the United States rose by $4.4 billion to $84.8 billion in November, data showed on Wednesday. According to the US Census Bureau and the US Bureau of Economic Analysis exports of goods for November were $127.2 billion, $1.1 billion more than October exports, while imports of goods …

  Read More »