Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 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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• 27 October 2020 5:35 pm

  US: Durable Goods Orders Rise by 1.9% in September

  

  Durable Goods Orders in the United States expanded by 19% on a monthly basis in September. The reading was well above the 0.5% rise anticipated and the 0.4% growth recorded in the previous month. Excluding transportation, new orders increased by 0.8% as against 0.4% anticipated, and the previous month’s upwardly …

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• 27 October 2020 5:23 pm

  UK Retail Sales Fall as The Economy Weakens

  

  Tuesday’s survey showed that the recovery of the retail sector in Britain, which was a bright spot for the economy affected by the Coronavirus, stopped this month after recording improvement over several months. The Confederation of British Industry monthly survey of retail sales fell to -23 in October, the lowest …

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• 27 October 2020 4:16 pm

  Largest Commercial Bank in Singapore Launches Cryptocurrency Exchange

  

  DBS, of the largest commercial banks in Singapore, announced the soft launch of the proprietary crypto-to-fiat cryptocurrency trading platforms. At the initial stages, the users will have access to the four largest digital assets: BTC, BCH, ETH, XRP. They will be available for trading against Singapore Dollar (SGD), Hong Kong …

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• 27 October 2020 3:56 pm

  Bitcoin Breaks the $ 1,300 Barrier

  

  Bitcoin trading witnessed positive moves during Tuesday to breach levels of $ 1300, its highest level in 2020. Bitcoin rose, the world’s first electronic currency, by 2.58% to $ 13,442, its highest ever in 2020.

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• 27 October 2020 2:42 pm

  Dollar Holds Onto Its gains on Fears of Covid-19 And Uncertainty

  

  The dollar held on to its gains Tuesday, but the rest of the safe-haven currencies witnessed quiet transactions as investors were reluctant to form positions before the US presidential elections scheduled for next week, even as concerns grow about the second wave of Covid-19 and its economic effects. On Monday, …

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• 27 October 2020 1:49 pm

  Interior Minister: France Must Prepare For “Difficult Decisions”

  

  French Interior Minister Gerald Darmanin said on Tuesday, ahead of a cabinet meeting to discuss the outbreak of the Coronavirus, that France should prepare to take “difficult decisions” related to imposing new measures to cope with the rise in Covid-19 cases. Three sources familiar with the matter said that the …

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• 27 October 2020 1:27 pm

  Money Supply Growth Beats Estimates in Eurozone

  

  The rate of money supply in the Eurozone increased in September, more than analysts had expected. And data released by the European Central Bank today showed that the money supply in the Eurozone recorded a growth of 10.4% in September, compared with 9.5% growth in August. Analysts had expected that …

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• 27 October 2020 12:44 pm

  Gold Rises as a New Wave of Infections Casts a Shadow Over the Economic Recovery

  

  Gold prices rose on Tuesday as a new wave of infections with the Coronavirus threatened to slow the global economic recovery from the Covid-19 pandemic, adding to the appeal of the yellow metal as a safe haven. Gold spot 0.2% to 1,906.83 dollars an ounce. In US futures trading, it …

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• 27 October 2020 12:23 pm

  Oil Steadies But Outlook is Bleak

  

  Oil prices rose on Tuesday after recent sharp losses, but market sentiment remains weak as high COVID-19 cases hurt the outlook for fuel demand while supplies rise. And Brent crude rose 42 cents, or the equivalent of 1%, to 40.88 dollars a barrel. U.S. crude gained 37 cents, or 1%, …

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• 27 October 2020 2:24 am

  NYSE Closes in Red off Session Lows

  

  The New York Stock Exchange (NYSE) declined on Monday, opening the week with a negative performance despite recovering from some of its earlier losses in the day, amid concerns about the increased number of new COVID-19 cases. The Dow Jones Industrial Average closed lower by 650.19 points, or 2.3%, at …

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• 27 October 2020 1:33 am

  US Treasury Yields Decline As Demand Soars

  

  Treasury yields in the United States declined on Monday as demand for safe havens increased amid a surge in new COVID-19 cases. Return on the 10-year Treasury bonds decreased by 2.5 basis points to 0.816%. As for the 30-year bond yield, it declined by 3.7 basis points to 1.609%. Meanwhile, …

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