Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2020

• 7 December 2020 2:16 pm

  US Dollar Index Continues Moving Towards Its Two And a Half Year Low

  

  The US dollar index on Monday, December 7, remained near a two-and-a-half-year low it reached on Friday, as weak US job data boosted expectations for economic aid, while the British pound fell as Britain and the European Union embark on a final attempt to strike a trade deal. Fears are …

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• 7 December 2020 1:27 pm

  Gold Rising as US Stimulus Tilts Over Vaccine Hopes

  

  Gold prices rose slightly on Monday, December 7, as weak US job data supported hopes for more fiscal stimulus, although optimism about the deployment of vaccines to prevent the Coronavirus curbed the gains. The spot price of gold rose 0.2% to $ 1841.93 an ounce by 05:54 GMT, while US …

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• 7 December 2020 1:00 pm

  China Posted Its Largest Trade Surplus in 30 Years

  

  China’s exports jumped by 21.1% last November, the largest increase in two years, while imports rose 4.5% for the same period. This resulted in a trade surplus of $ 75.4 billion, and this surplus is the largest in 30 years. China’s trade balance with the United States reached a new …

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• 7 December 2020 12:58 pm

  Oil Falling From Its Highest Level in Months Due to Covid-19 Measures

  

  Oil prices fell on Monday, December 7, from their highest levels in months, with the continuing increase in infections with the Coronavirus globally and renewed closure measures, the latest of which included the imposition of strict restrictions in southern California in the United States, the largest consumer of crude in …

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• 7 December 2020 12:04 pm

  Japan’s Nikkei Index is Slipping From a 29-and-a-Half Year High

  

  Japanese stocks closed lower Monday, December 7, as the Nikkei benchmark retreated from its highest levels in more than 29 and a half years, as gains for five consecutive weeks raised some concerns from a frenzied market and prompted investors to sell for profit. Nikkei fell 0.76% to 26547.44 points, …

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• 7 December 2020 9:42 am

  Weekly Recap – Dec 4

  

  Major economies overall are showing better numbers in the third quarter, but rising coronavirus cases and vaccine distribution obstacles continue to hamper economic growth. Nonfarm Payrolls (NFP) in the US rose by 245,000 in November, the data. This reading followed October’s increase of 610,000 (revised from 638,000) and missed the …

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• 5 December 2020 3:18 am

  US Economy Awaiting Stimulus Package After Job Numbers

  

  The United States economy created a less than expected number of new jobs last month, as per data released on Friday. November saw the smallest increase in non-farm payrolls since in six months, or since the recovery from the Coronavirus crisis began. This comes amid an increase in the number …

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• 5 December 2020 2:02 am

  Oil Rises and Logs 2% Weekly Rise

  

  Oil prices rose on Friday, extending its weekly gains, supported by a positive reaction to the OPEC+ move, which is seen as an indicator of market recovery signs. Brent crude futures for February delivery rose by 54 cents, or 1.1%, to finish at $49.25 per barrel. For the week, the …

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• 5 December 2020 1:44 am

  US Oil Rigs Rise in Week

  

  Active crude oil and natural gas rigs in the United States rose this week, for the eleventh time in 12 weeks. Oil and gas rig count increased by three to 323 in the week that ended on December 4, according to the Baker Hughes weekly report. Oil rigs alone increased …

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• 5 December 2020 1:37 am

  Gold Declines but Scores Weekly Gains

  

  Gold prices declined on Friday, despite the decline of the US Dollar (USD), amid improved investors’ sentiment on Coronavirus vaccine progress. Gold futures for February delivery decreased by $1.10, or 0.1%, and closed at $1,840 per ounce. For the week, the yellow metal contracts gained 2.9%. On the other hand, …

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• 4 December 2020 10:12 pm

  Fed’s Evans Comfortable with Asset Purchases Pace

  

  The President of the Federal Reserve Bank of Chicago, Charles Evans, said on Friday that he is comfortable with the current pace of the bond-buying program by the Fed, Reuters reported. “I am not opposed to more accommodation – I’m just not exactly sure what the right timing is.”“I don’t …

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• 4 December 2020 8:43 pm

  Global Debt-to-GDP Ratio Seen Rising by 14%

  

  S&P Global expects global debt to reach $200 trillion, amounting to 265% of the world’s GDP, by the end of 2020, Reuters reported. The 14% increase in the global debt-to-GDP ratio comes amid increased borrowing to face the economic consequences of the Coronavirus crisis. The ratings agency does not see …

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• 4 December 2020 8:37 pm

  US Factory Orders Rise 1% in October

  

  New factory orders in the United States grew by 1% in October, compared with a previous estimate of 1.3%, data by the US Department of Commerce showed on Friday. Orders for non-defense capital goods, excluding aircrafts, went up by a revised reading of 0.8% in October instead of 0.7% as …

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