Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 8 October 2020 5:09 pm

  Highlights from BoC’s Governor Speech

  

  Highlights of the speech of the BoC Governor Tiff Macklem on Thursday as follows “We came into the pandemic with a number of vulnerabilities; it seems certain we will exit pandemic with higher levels of government debt.”“Our policy path will eventually have an impact on financial system vulnerabilities; lower-interest-rate environment …

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• 8 October 2020 4:44 pm

  OPEC Oil Outlook Report to 2045: The Pandemic Has Caused The Largest Decline in Oil Demand in History

  

  OPEC’s report on oil outlook up to 2045 revealed that the Corona pandemic caused the largest decline in oil demand in history, and that the global economy will shrink by about 4% this year, while the report confirmed that oil will remain the largest component of the energy mix in …

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• 8 October 2020 4:21 pm

  Strike in The Norwegian Oil Sector Will Affect 966,000 Barrels Per Day of Oil Equivalent

  

  The Norwegian Oil and Gas Union said Thursday (October 8th) that the current shutdown in production due to the ongoing strike in the oil and gas sector will increase to 966,000 barrels of oil equivalent per day by October 14 unless a solution to the crisis is found for the …

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• 8 October 2020 3:18 pm

  BOE Financial Policy Committee Statement Highlights

  

  Following the conclusion of the Bank of England (BOE) Financial Policy Committee (FPC) meeting on Thursday, the central bank released a statement, with the key points found below. The UK authorities and financial sector have measures in place to limit disruption to financial services at the end of the transition …

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• 8 October 2020 3:00 pm

  Germany’s Exports Increase in August Boosts Hopes For a Strong Recovery

  

  German exports increased for the fourth month in a row and more than expected in August, boosting hopes of a strong recovery for Europe’s largest economy in Q3 after the shock of the Corona pandemic earlier this year. The Federal Statistics Office said exports, adjusted for seasonal factors, rose 2.4% …

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• 8 October 2020 2:11 pm

  France’s Central Bank: The Economy Expanded 16% in Q3

  

  France’s central bank said Thursday that the country’s economy expanded 16% in Q3, after an unprecedented 13.8% decline in the previous three months, confirming earlier forecasts. The second-largest economy in the eurozone fell sharply into recession in Q2 after imposing a set of strict lockdown measures in Europe to limit …

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• 8 October 2020 1:34 pm

  European Shares Near Highest Level in Nearly 3 Weeks on Hopes of US Stimulus

  

  European stocks resumed their gains Thursday, approaching more than a three-week high, thanks to expectations of a targeted US stimulus package as well as positive corporate reports. The pan-European STOXX 600 index rose 0.7% by 0707 GMT, with travel, entertainment, industry and chemicals leading the gains. Wall Street indices rose …

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• 8 October 2020 12:46 pm

  Gold Rises as US Dollar Weakens With Hopes For a US Stimulus

  

  Gold prices rose slightly Thursday, supported by the decline of the dollar and renewed optimism about some aid to mitigate the repercussions of the Corona pandemic in the United States, while investors awaited the weekly jobless claims data to gauge the strength of the world’s largest economy. Spot gold prices …

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• 8 October 2020 12:15 pm

  Oil Prices Rise as a Hurricane Delta Enters The Gulf of Mexico

  

  Oil prices rose Thursday as workers in the oil sector evacuated platforms in the Gulf of Mexico in the United States before Hurricane Delta, but fears of fuel demand continued due to the dissipation of the prospects of a US stimulus agreement and after an increase in US crude stocks. …

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• 8 October 2020 2:15 am

  NYSE Ends Higher on Stimulus Hopes

  

  The New York Stock Exchange (NYSE) closed Wednesday higher on the back of renewed hopes for a stimulus package by the Congress. The Dow Jones Industrial Average surged by 530.70 points, or 1.91%, to finish at 28,303.46 points. S&P 500 closed higher by 58.50 points, or 1.74%, at 3,419.45 points. …

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• 8 October 2020 2:06 am

  US Treasury Yields at Four-Month Highs

  

  Treasury yields in the United States increased on Wednesday, as the latest US Federal Reserve’s meeting minutes indicated a commitment to asset purchases. The Fed is set to focus on purchasing assets with longer maturities. Return on the 10-year Treasury bond leveled up by 4.3 basis points to 0.784%, its …

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• 8 October 2020 1:49 am

  Oil Falls as Crude Stockpiles Rise

  

  Oil prices declined on Wednesday, after official data showed a the first rise in four week in US crude inventories. This also comes after the complications facing a new economic stimulus package. Nonetheless, declines were limited due to recent output disruptions, which helped crude prices finish above session lows. Brent …

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• 8 October 2020 1:42 am

  Gold Maintains Losing Streak

  

  Gold prices closed lower on Wednesday, falling to its lowest level in more than a week. Gold futures for December delivery fell by $18, or 0.9%, and finished at the level of $1,890.80 per ounce, its lowest since September 28. Meanwhile, silver futures for December delivery declined by 2 cents, …

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