Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 3 October 2020 1:24 am

  Kashkari: Not Passing Stimulus Will Slow Recovery

  

  President of the Federal Reserve Bank of Minneapolis, Neel Kashkari, said on Friday that the road to economic recovery is long and challenging. “We are a long way from recovering the job market that we had back in January and February.” If Congress fails to pass more relief, more small …

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• 3 October 2020 1:20 am

  Will Congress Pass New Stimulus Before the Elections?

  

  The United States House of Representatives recently passed a $2.2 trillion stimulus package to help the American economy face the impact of the Coronavirus (COVID) pandemic. The bill was passed by the Democratic majority in the house, however, objections from Republicans mean the relief package is not likely to pass …

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• 2 October 2020 11:51 pm

  Oil Prices Record More than 7% Weekly Loss

  

  Oil prices declined on Friday, as markets are still reacting to the news of the President of the United States, Donald Trump, and his wife, testing positive for COVID-19, as well as an increase in US drilling rigs. Crude prices remain impacted by fears of a gloomy demand outlook. Brent …

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• 2 October 2020 11:45 pm

  Gold Narrows Weekly Gains after Trump Contracts COVID-19

  

  Gold prices declined on Friday as markets are still digesting news of the President of the United States, Donald Trump, and his wife, testing positive for COVID-19. The news did not result in a shock or panic buying of the precious metal, which ends the week in gains. Gold futures …

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• 2 October 2020 9:15 pm

  US Oil Rigs Rise by Six to 189

  

  Active rigs drilling for natural gas and crude oil in the United States increased, for the second consecutive week, by 5 rigs to a total of 266, according to the data of the weekly report released by Baker Hughes on Friday. Meanwhile, oil rigs added six more to reach 189 …

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• 2 October 2020 8:59 pm

  Fed’s Kaplan Careful with Bond Buying

  

  The President of the Federal Reserve Bank of Dallas, Robert Kaplan, said on Friday that he would like to be careful about increasing the United States Federal Reserve bond purchases. Kaplan also said on Friday in an interview with the Wall Street Journal that he supports maintaining interest rates near …

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• 2 October 2020 7:17 pm

  US Consumer Sentiment Rises in September

  

  The University of Michigan Consumer Sentiment Index rose to 80.4 in September, up from 74.1 in August, data showed on Friday. The index remains well below its levels prior to the COVID-19 pandemic, which reached a peak of 101 in February, and below its level for the same period last …

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• 2 October 2020 6:57 pm

  US Factory Orders Slightly Rises in August

  

  Factory orders in the United States increased for the fourth consecutive month during August, according to data by Department of Commerce on Friday. Orders levelled up by 0.7% last month, after rising by 6.5% in July. Durable goods orders went up by 0.5%, while nondurable goods orders advanced by 0.8%.

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• 2 October 2020 5:54 pm

  Wall Street Plunged After Trump

  

  Major indexes tumbled on Wall Street at the open after President Donald Trump had tested positive Coronavirus weeks before the presidential election, while sentiment is also affected by the fiscal stimulus and a distant slowdown in the domestic economic recovery. The Dow Jones Industrial Average fell 280.51 points, or 1.01%, …

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• 2 October 2020 4:58 pm

  NFP Rise by 661K in September

  

  Nonfarm Payrolls (NFP) in the US rose by 661,000 in September, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed August’s increase of 1,489,000 (revised from 1,3171,000) and fell short of the market expectation of 850,000.

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• 2 October 2020 4:24 pm

  ECB: Europe Must Prepare to Launch a Digital Euro ‘if and when’ Necessary

  

  ECB council member Fabio Panetta said the bank should prepare for a digital euro issue that complements securities “if and when” necessary. Major central banks around the world are studying digital versions of their currencies in response to demand for electronic payments and to counter competition from private currencies such …

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• 2 October 2020 4:18 pm

  Turkey’s Trade Deficit Jumps 193% Year-on-Year in September

  

  Data from the Ministry of Trade showed that Turkey’s trade deficit rose 192.7% Y-o-Y in September to $ 4.88 billion, according to the general trade system. The data reveal that imports increased by 23.32% to 20.89 billion dollars, while exports rose 4.84% to 16.01 billion.

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• 2 October 2020 4:16 pm

  Eurozone Inflation is Negative Again at its Lowest Level in 4 Years

  

  Inflation in the Eurozone fell to its lowest level in more than four years, falling further in the negative zone than expected in September and raising fears of a price deflation spiral due to the Covid-19 pandemic. The European statistics office Eurostat said in preliminary estimates that consumer prices in …

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