Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 13 October 2020 5:29 pm

  IMF Forecasts 2020 Global Economic Contraction at 4.4%

  

  In its latest World Economic Outlook report, the International Monetary Fund noted that it forecasts the global economy to contract by 4.4% in June, compared to 5.2% contraction in June’s publication, as reported by Reuters. “IMF forecasts 2021 global growth at 5.2% vs 5.4% in June, forecasts use revised purchasing …

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• 13 October 2020 4:57 pm

  Monthly OPEC Report: Reducing Growth Forecast by 200,000

  

  The OPEC monthly report showed that the global economic growth forecast was kept at -4.1%, while the global economic growth forecast was reduced to 4.6% in 2021. The report expected a decline in global demand for oil by 9.5 million barrels per day in 2020, while the report reduced demand …

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• 13 October 2020 4:14 pm

  China’s Auto Sales Post a Jump in September

  

  Car sales in China recorded growth for the sixth consecutive month in September, increasing by 12.8% as the world’s largest car market recovered from low levels recorded in light of the isolation measures related to the Corona virus. September and October are usually considered a peak sales period in the …

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• 13 October 2020 3:30 pm

  Unemployment in Britain Rises at 4.5% in October

  

  The unemployment rate in the United Kingdom witness an increase in October by more than analysts’ expectations, and data issued by the British National Statistics Office on Tuesday showed that the unemployment rate came at 4.5% during the month of October, compared with 1.4% the previous month’s reading. Analysts had …

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• 13 October 2020 2:31 pm

  German ZEW Economic Sentiment Slumps to 56.1 in October

  

  The German ZEW headline numbers for October showed that the Economic Sentiment Index came in at 56.1 versus 73.0 expectations and 77.4 last. While the sub-index Current Conditions figure arrived at -59.5 in Oct versus -60.0 expected and -66.2 booked previously. Meanwhile, the Eurozone ZEW Economic Sentiment for Oct stood …

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• 13 October 2020 1:44 pm

  Gold Falls as US Dollar Recovers And Investors Await The US Stimulus

  

  Gold fell on Tuesday with the recovery of the dollar, but the price of the precious metal may receive future support from an American stimulus package that increases its attractiveness as a hedge against the resulting inflation. Gold fell in the spot market 0.3% to 1917.16 dollars an ounce, and …

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• 13 October 2020 12:53 pm

  Oil Prices Are Rising Due to The Return of Supplies

  

  Oil prices rose on Tuesday, after suffering losses of nearly 3% in the previous session, with the resumption of supplies in Norway and the Gulf of Mexico in the United States and Libya, while the International Energy Agency expected a decrease in global energy demand by 5% this year. US …

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• 13 October 2020 12:51 pm

  US Dollar Rising And Yuan is Falling, After China Watches The Currency’s Rise

  

  The dollar rose from its lowest level in three weeks on Tuesday, as traders in the market returned to buying it, especially against the counterpart currencies of higher risk, after it appeared that the Chinese authorities are seeking to curb the gains in the yuan that recorded recently. The Australian …

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• 13 October 2020 12:34 pm

  Chinese Exports And Imports Reach Record Levels in September

  

  China’s exports in September rose by 9.9% year-on-year, in line with expectations, and imports grew at the fastest pace for this year, at 13.2% in the same period, well above expectations of a 0.3% rise. China’s exports rose by 10.2% in Q3 to $ 742.9 billion.

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• 13 October 2020 1:56 am

  Wall Street Closes on Large Gains

  

  Wall Street finished Monday in gains, for the fourth consecutive session, amid anticipation for earnings reports by some of listed companies. The Dow Jones Industrial Average closed higher by 250.62 points, or 0.9%, at 28,837.52 points The S&P 500 increased by 57.09 points, or 1.6%, and ended at the level …

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• 13 October 2020 1:26 am

  Oil Prices Decline as End of Norway Strike Looms

  

  Oil prices declined on Monday as news circulated that a large strike in Norway will be ended and no longer affecting crude production capacities, however, losses were limited due to output disruptions resulting from Hurricane Delta. Brent crude futures for December delivery decreased by 49 cents, or 1.1%, to finish …

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• 13 October 2020 1:09 am

  Gold Opens Week with Gains

  

  Gold prices rose on Monday amid increased demand for safe havens, as a new stimulus package in the United States remains uncertain ahead of the next elections. Gold futures for December delivery added $2.70, or 0.1%, and closed at $1,928.90 per ounce. Meanwhile, Silver futures for December delivery rose by …

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• 12 October 2020 8:24 pm

  European Stocks Finish Higher

  

  European stocks rose on Monday, opening the week with a positive performance that copied that of Asian markets earlier today. Hopes for a stimulus package in the United States supported risk appetite. The pan-European STOXX 600 index rose by 0.77% to close at 373.19 points. The French CAC40 index rose …

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