Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 7 October 2020 1:53 am

  BREXIT Talks Showing Promising Progress

  

  Talks between the United Kingdom (UK) and the European Union (EU) are reportedly advancing, with the two parties edging closer to a trade agreement after the Brexit, Reuters reported on Tuesday, citing two diplomatic sources. The EU supposedly plans to finish negotiations by mid-November, one month and a half before …

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• 7 October 2020 1:36 am

  US Treasury Yields Fall Sharply

  

  Treasury yields in the United States declined on Tuesday, following remarks by President Donald Trump that he would end talks for a new stimulus package. Return on the 10-year Treasury bond decreased by 1.9 basis points to 0.741%. Yield on the 30-year bonds fell by 2.8 basis points to 1.537%, …

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• 7 October 2020 1:26 am

  Oil Futures Maintain Rising Trend

  

  Oil prices rose for the second consecutive day on Tuesday, amid output disruptions and improved risk sentiment. Brent crude futures for December delivery added $1.36, or 3.3%, and closed at the level of $42.65 per barrel. Meanwhile, the US West Texas Intermediate (WTI) crude futures for November delivery finished higher …

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• 6 October 2020 11:40 pm

  Gold Prices Decline as USD Rises

  

  Gold futures closed lower on Tuesday, after opening the week at its highest level in about two weeks, as the US Dollar (USD) is showing some recovery signs. Gold futures for December delivery declined by $11.30, or 0.6%, and settled at $1,908.80 per ounce. Meanwhile, silver futures for December delivery …

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• 6 October 2020 11:07 pm

  Lighthizer: Trade Policies Working Despite Deficit

  

  The United States Trade Representative Robert Lighthizer said on Tuesday that the higher trade deficit in 2020 is mainly due to non-monetary gold imports, Reuters reported. According to Lighthizer, Donald Trump’s trade policies were working despite last month’s $67.1 billion trade deficit, which was the highest in 14 years. “Basically, …

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• 6 October 2020 9:53 pm

  Powell: Recovery is Far From Complete

  

  The United States Federal Reserve Chair Jerome Powell said on Tuesday that the US economy needs more stimulus and support efforts, as recovery is not yet complete and could still slip or change its direction into the negative territory if the COVID-19 crisis is not controlled effectively. Powell remarks came …

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• 6 October 2020 9:11 pm

  European Stocks Finish Higher

  

  European stocks closed Tuesday higher, amid improved risk sentiment after news about the discharge of Donald Trump from hospital. The Stoxx Europe 600 index finished higher by around 0.1%, supported by the gains of bank stocks. The UK’s FTSE100 gained 0.12%, while the French CAC40 added 0.48%. Meanwhile, the German …

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• 6 October 2020 6:45 pm

  US Job Openings Post First Decline in Four Months

  

  New job openings in the United States declined during the month of August, for the first time in four months, according to data by the US Department of Labor. Job openings decreased by 204,000 to 6.49 million last month, as per the monthly Job Openings and Labor Turnover Survey (JOLTS). …

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• 6 October 2020 6:00 pm

  FOMC Chairman Jerome Powell’s speech at NABE 62nd Annual Meeting – Live Stream

  

  Jerome Powell, Chairman of the Federal Reserve System, will be delivering his remarks at the National Association for Business Economics’ 62nd Annual Meeting on Tuesday.

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• 6 October 2020 5:21 pm

  Canada’s International Merchandise Trade Deficit Expands to $2.4B

  

  Canada’s merchandise trade deficit with the world narrowed modestly to $2.4 billion in August from $2.5 billion in July, the data published by Statistics Canada showed on Tuesday. “After two months of strong growth, Canadian merchandise exports and imports stabilized in August. Imports fell 1.2%, while exports were down 1.0%,” …

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• 6 October 2020 5:07 pm

  US Trade Deficit Widens to $67.1 Billion in August

  

  The United States’ goods and services deficit rose by $3.7 billion to $67.1 billion in August, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Tuesday. This reading missed the market expectation for a deficit of $66.1 billion. “August exports were $171.9 …

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• 6 October 2020 4:05 pm

  ECB: Profitability of Eurozone Banks Collapsed in Q2

  

  The European Central Bank said Tuesday that the profitability of the largest banks in the euro area collapsed in Q2 of the year, although banks managed to keep their bad loan balances low. The bank stated in its quarterly statistics that the return on capital in the first half of …

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• 6 October 2020 3:04 pm

  Sunak: We Can’t Keep Borrowing Huge Sums in Long Term

  

  British Finance Minister Rishi Sunak said Tuesday that his country cannot continue to borrow huge sums in the long term because it is not sustainable for the economy. “It is clear that this year we have had to borrow huge sums to support the economy in a time of crisis, …

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