Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 10 November 2020 8:15 pm

  USD/CAD Stabilizes Awaiting Moving Factors

  

  The Canadian Dollar (CAD) declined against the US Dollar (USD) on Tuesday, after rising on Monday to its highest level in about two years, before recovering some of its earlier losses. The USD/CAD pair is trading lower for by 0.02% at 1.3004. The pair has been moving in a range …

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• 10 November 2020 7:28 pm

  GBP Rises on Renewed Hopes for Brexit Deal

  

  The British Pound (GBP) is rising on Tuesday, supported by optimism about the United Kingdom (UK) and the European Union (EU) reaching a trade agreement for the post-Brexit stage. Significant progress has been achieved in trade talks, according to recent remarks by the British Minister of Finance, Rishi Sunak. The …

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• 10 November 2020 6:49 pm

  European Parliament, EU Governments Reach Deal on 2021-2027 Budget

  

  European Parliament and the European Union governments have reached a deal on the EU’s 2021-2027 budget, as reported by Reuters. Commenting on this development, “a deal for Europe – Council and European Parliament negotiators reach a political agreement on the EU budget & recovery package,” the spokesman for the German …

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• 10 November 2020 5:53 pm

  Fed’s Kaplan: Negative Interest Rates Are Off The Table

  

  “If there’s more for the Fed to do, it would be with treasury to help companies,” Dallas Federal Reserve President Robert Kaplan said on Tuesday, as reported by Reuters. “Potential GDP growth after 2023 will return to being sluggish.”“Financial conditions are relatively loose.”“Once we have weathered the pandemic, will have …

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• 10 November 2020 5:27 pm

  Turkish Lira Gained Around 5% on Monday Following CBRT News

  

  The Turkish lira recorded a new low on Monday against the US dollar, with the USD/TRY to the 8.40 area on Tuesday, but some initial resistance has begun to appear. The lira recorded the biggest one-day advance against the dollar since 2018 after traders considered the news about the dismissal …

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• 10 November 2020 4:41 pm

  Small-Business Owners Grow More Anxious After Covid-19 Surge

  

  There was no change to NFIB US Business Optimism Index, which stood at 104 in October of 2020, the same figure as the previous month. While it came higher than market expectations, which settled at 102.2. The last two readings are the highest since January and are among the highest …

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• 10 November 2020 3:45 pm

  Vitol CEO Expects Oil Prices to Rise Towards $50 a Barrel

  

  Vitol CEO Russell Hardy said oil prices will be heading towards a range of $ 45- $ 49 a barrel or even $ 50 in the next few months, with inventory drawdown modest during the winter and this accelerating through mid-2021. The benchmark Brent crude was trading at around $ …

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• 10 November 2020 3:10 pm

  Oil Falls on Worries About Weak Demand And COVID-19 Vaccine

  

  Oil prices fell on Tuesday, November 10 as concerns about short-term fuel demand in Europe and the United States, affected by the Coronavirus, chased the market after an overnight rally led by encouraging news about a vaccine for Covid-19. US West Texas Intermediate crude futures fell 55 cents, or about …

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• 10 November 2020 2:24 pm

  German ZEW Economic Sentiment Drops Further to 39.0 in Nov

  

  The German ZEW headline numbers for November showed that the Economic Sentiment Index came in at 39.0 versus 41.7 expectations and 56.1 last. While the sub-index Current Conditions figure arrived at -64.3 in Nov versus -65.0 expected and -59.5 previously. Meanwhile, the Eurozone ZEW Economic Sentiment for Nov slumped to …

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• 10 November 2020 1:58 pm

  Yen Compensating Some of Its Losses

  

  The yen recouped some of its losses against the dollar today, Tuesday, after it recovered due to news about developments in a Coronavirus vaccine that sparked optimism for the global economic recovery. The American company Pfizer for pharmaceutical industries and its German partner BioNTech announced that large-scale clinical trials have …

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• 10 November 2020 1:56 pm

  Hospitality Sector Boosts Tokyo Stocks

  

  The Nikkei index reached its highest level in nearly 3 decades on Tuesday, November 10, as stocks of companies that have been hit by the pandemic in the aviation, railway operation and retail sectors jumped on news of progress in developments related to a Covid-19 vaccine. Investors switched to battered …

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• 10 November 2020 12:33 pm

  China’s CPI is Growing at a Slower-Than-Expected Pace in October

  

  On an annual basis, the Chinese CPI grew at a slower pace of 0.5% in October, while expectations indicated a 0.8% slowdown in growth. On a monthly basis, the CPI unexpectedly declined by 3% over the past month. The producer price index decreased by 2.1% compared to the previous year.

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• 10 November 2020 12:03 pm

  Gold Jumps 1% as Focus Returns on Easing Monetary Policy

  

  Gold rose 1% Tuesday, November 10, after a sharp decline in the previous session, with the return of focus to the possibility of taking more monetary stimulus measures to revive a global economy still suffering from the repercussions of the Covid-19 pandemic. By 06:05 GMT, spot gold had jumped 1.1% …

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