Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 13 November 2020 2:54 pm

  Eurozone Preliminary GDP Arrives at 12.6% QoQ in Q3

  

  The Eurozone economy saw a rebound of 12.6% on quarter in the three months to September of 2020, missing +12.7% expected. Data released by the European Statistics Office (Eurostat) revealed on Friday. On an annualized basis, the bloc’s GDP dropped by 4.4% in Q3 vs. -4.3% seen in the previous reading while …

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• 13 November 2020 2:20 pm

  European Stocks Take a Hit After a Weekly Rally

  

  The benchmark index of European stocks fell today, Friday, heading towards the weekly decline, as the increase in cases of coronavirus cases exacerbated fears of damage to the continent’s economy in the coming winter months. The pan-European STOXX 600 index fell 0.3%, after jumping earlier in the week thanks to …

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• 13 November 2020 1:06 pm

  Oil Easing on Covid-19 Cases But Heading For a Weekly Gain

  

  Oil prices plummeted on Friday, as they are under pressure due to concerns about a slowing global economic recovery and fuel demand due to an increase in COVID-19 cases, but the market remains on track to make gains for the second week in a row, supported by hopes for a …

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• 13 November 2020 12:36 pm

  Gold Supported by Virus Fears But Heading For The Worst Week Since September

  

  Gold prices stabilized in a narrow range today, Friday, supported by concerns about the economic consequences resulting from the escalation of Covid-19 cases, but the yellow metal is heading towards its first weekly loss since September, as it boosted hopes for a vaccine for high-risk assets earlier this week. With …

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• 13 November 2020 12:10 pm

  Nikkei Index Ends 8-Session Winning Streak

  

  The Nikkei index closed in the Tokyo Stock Exchange lower today, Friday, ending gains that continued for eight consecutive sessions, as investor sentiment was undermined by fears due to a new rise in new cases of the emerging coronavirus inside and outside Japan. The benchmark Nikkei index fell 0.53% to …

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• 13 November 2020 2:17 am

  Powell: Coming Months Could be Challenging

  

  The Chairman of the United States Federal Reserve, Jerome Powell, said on Thursday that economic recovery in the US has been faster and stronger than expected, but it is slowing a bit, which is understandable. The recovery remains uneven and incomplete, according to Powell’s remarks to the European Central Bank …

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• 13 November 2020 1:41 am

  Oil Prices Mixed on Unexpected Inventories Buildup

  

  Oil prices showed a mixed performance on Thursday, after data showed a surprise increase in crude inventories in the United States. In addition, concerns about the rising number of Coronavirus cases pressured crude prices despite commitment from the OPEC+ alliance to maintain output curbs. Brent crude futures for January delivery …

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• 12 November 2020 11:34 pm

  USD/CAD Reaching New Week Highs

  

  The US Dollar (USD) is rising on Thursday against its Canadian counterpart (CAD) to new week highs, despite a recovery by crude oil prices, which did not provide the needed support to the Canadian Dollar. The USD/CAD pair is trading higher for the day by 0.60% at 1.3142. Earlier today, …

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• 12 November 2020 11:30 pm

  US Budget Deficit Records $284 B in October

  

  The budget deficit in the United States amounted to $284 billion in October, data showed on Thursday. October marks the beginning of a new fiscal year in the US, while last year a record $3.1 trillion deficit was recorded. This comes as the US government tries to face the impact …

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• 12 November 2020 11:21 pm

  Gold Settles Higher as COVID-19 Cases Surge

  

  Gold prices rose on Thursday, amid increased concerns about the rising number of Coronavirus cases in the United States. The US recorded a record 200,000 cases of COVID-19 in a single day, the highest on record. The rise of the yellow metal comes as the US Dollar (USD) is also …

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• 12 November 2020 11:13 pm

  IMF Calls for Better Cooperation Between G20

  

  The International Monetary Fund (IMF) has called upon the G20 countries to coordinate their efforts to face the impacts of the Coronavirus (COVID-19) crisis, Reuters reported. “If the G20 countries, move together, invest together at the same time, they would spend a third less to achieve the same output goal,” …

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• 12 November 2020 10:58 pm

  Germany Facing Weaker Q4 Growth Due to Lockdown

  

  A partial lockdown in Germany this month could lead to weaker economic growth during the fourth quarter (Q4) of 2020, according to the German Finance Minister Olaf Scholz. The minister also said on Thursday that a government stimulus package could help offset the effect of the lockdown, Reuters reported. The …

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• 12 November 2020 10:54 pm

  US Oil Inventories Rise Unexpectedly

  

  Data by the United States Energy Information Administration (EIA) showed on Thursday that crude oil inventories in the US rose by 4.3 million barrels last week. The data comes against expectations a 3 million-barrel decline, according to a poll by S&P Global Platts. Gasoline inventories declined by 2.3 million barrels, …

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