Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 18 November 2020 4:44 am

  Oil Prices End on Mixed Note

  

  Oil prices showed a mixed performance on Tuesday, as the market awaits a firm commitment from the OPEC+ alliance towards the output cuts. Brent crude futures for January delivery fell by 7 cents, or 0.2%, to finish at $43.75 per barrel. Meanwhile, the West Texas Intermediate (WTI) futures for December …

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• 18 November 2020 4:11 am

  Gold Posts First Decline in Four Days

  

  Gold prices closed lower on Tuesday, posting its first decline in four sessions, amid news about positive results by COVID-19 vaccines. Gold futures for December delivery declined by $2.70, or 0.1%, and settled at $1,885.10 per ounce. Meanwhile, silver futures for December delivery decreased by 15 cents, or 0.6%, and …

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• 18 November 2020 12:11 am

  Fed’s Bostic Warns of Short-Term Risks to Recovery

  

  President of the Federal Reserve Bank of Atlanta, Raphael Bostic, said on Tuesday that weak October retail sales are showing short-term risk to economic recovery in the United States from the impact of the Coronavirus pandemic, Reuters reported. “We have short-term and immediate-term concerns with the spike in the virus …

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• 17 November 2020 10:43 pm

  Lagarde: Vaccine Will Not Change Our Projections

  

  The President of the European Central Bank (ECB), Christine Lagarde, said on Tuesday that an effective Coronavirus vaccine will not change the bank’s economic projections. “I’m not sure that is going to be a major game-changer for our forecasts, simply because what we had anticipated in our baseline was that …

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• 17 November 2020 10:38 pm

  Housing Starts in Canada Rise in October

  

  Housing starts in Canada increased in October by 3% on a monthly basis, data showed on Tuesday. The seasonally adjusted annual rate of housing starts went up to 214,875 units from a revised reading of 208,715 units in September, according to the Canadian Mortgage and Housing Corporation (CMHC).

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• 17 November 2020 9:45 pm

  Canadian Wholesale Sales Rise in September

  

  Wholesale sales in Canada increased by 0.9% to $66.2 billion in September, data by Statistics Canada showed on Tuesday. Sales of food, beverage, and tobacco grew by 3.6% to $12.4 billion, with the food industry sales increasing by 4.2%. This is the best reading for the food, beverage, and tobacco …

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• 17 November 2020 8:30 pm

  European Stocks Return to Losses

  

  European stocks closed lower on Tuesday, returning to losses despite positive news about a Coronavirus vaccine being developed by Moderna. The STOXX Europe 600 index finished lower by 0.2%, while the UK’s FTSE100 plunged by 0.87%. Meanwhile, the French index CAC40 added 0.21%, and the German index closed marginally lower …

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• 17 November 2020 8:15 pm

  US Business Inventories Rise in September

  

  Business inventories in the United States grew during the month of September by more than expected, data by the US Department of Commerce showed on Tuesday. Business inventories increased by 0.7% in September after rising by 0.3% in August. Meanwhile, retail inventories increased by 1.7% in September, up from an …

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• 17 November 2020 6:50 pm

  Industrial Production Expands by 1.1% in October

  

  Industrial Production in the United States expanded by 1.1% on a monthly basis in October, the US Federal Reserve reported on Tuesday. This reading came in slightly better than the market expectation of 1% and followed September’s 0.4% contraction.

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• 17 November 2020 3:20 pm

  Turkish Lira Down by More Than 1%

  

  The Turkish lira fell by more than 1% on Tuesday, November 17t, against the dollar, after rising by as much as 12% last week thanks to expectations of a more conservative economic policy when President Erdogan pledged a new economic model. The lira had stabilized at 7.80, after touching 7.7110 …

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• 17 November 2020 2:41 pm

  Reuters: OPEC + Committee Expects Weaker Oil Demand in 2021

  

  A document seen by Reuters showed that OPEC and its allies have revised demand projections for 2021, with weaker demand forecasts than previously estimated, which supports the call for a tighter supply policy next year. “For the year 2021, demand is expected to grow by 6.2 million barrels per day, …

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• 17 November 2020 2:05 pm

  US Dollar Stabilizes on Vaccine And The US Doubts

  

  The dollar stabilized against most currencies on Tuesday, November 17th, as the return of restrictions in some US states and concerns about a smooth transfer of power to President-elect Joe Biden dispelled optimism about a coronavirus vaccine. Meanwhile, the British pound rose thanks to media reports that Britain might reach …

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• 17 November 2020 1:29 pm

  Germany’s Merkel: Coronavirus Cases Are Not Falling as Fast as we Expected

  

  Germany’s Chancellor Angela Merkel said on Tuesday, “coronavirus cases are not falling as fast as we expected,” adding that the “economy will recover if we keep virus numbers low.” She said: “Virus numbers are too high, contacts must be reduced.”

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