Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 16 October 2020 10:32 pm

  Gold Records Weekly Losses After Two Rises

  

  Gold prices declined on Friday, extending their weekly losses, which are the first in three weeks. The yellow metal’s decline came mostly due to the rise in the US Dollar (USD). Gold futures for December delivery closed today lower by $2.50, or 0.1%, and settled at $1,906.40 per ounce. For …

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• 16 October 2020 10:17 pm

  US Factory Production Declines in September

  

  Factory production in the United States declined in September, against market expectations. Manufacturing production decreased by 0.3% last month, according to data by the US Federal Reserve released on Friday. August’s reading was revised to indicate that factory production increased by 1.2% not just 1% as initially estimated.

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• 16 October 2020 9:13 pm

  European Stocks Record Highest Gains in Three Weeks

  

  European stocks finished Friday higher, recovering some of its recent losses due to concerns about the second wave of the COVID-19 pandemic. The Stoxx Europe 600 index closed higher by 1.26%, registering its highest daily gains in three weeks, at 367.48 points. The UK’s FTSE100 also rose by 1.49%, while …

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• 16 October 2020 9:10 pm

  US Inventories Rise in August

  

  Business inventories in the United States increased during August for the second consecutive month, data showed on Friday. Business inventories went up by 0.3% in August after rising by 0.1% in July. Meanwhile, retail inventories increased by 0.4%.

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• 16 October 2020 9:06 pm

  France and Netherlands Aim for New Rules on Big Tech

  

  France and the Netherlands are reportedly proposing new rules by the European Union (EU) to regulate tech giants such as Google, Facebook, and Amazon, CNBC reported. “Our common ambition is to design a framework that will be efficient enough to address the economic footprint of such actors on the European …

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• 16 October 2020 8:15 pm

  US Retail Sales Surge in September

  

  Retail sales in the United States increased last month, according to data by the Department of Commerce on Friday. The rise in September retail sales was the biggest in three months, exceeding market expectations. Retail sales grew by 1.9% on a monthly basis, after rising by 0.6% in August.

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• 16 October 2020 7:55 pm

  Brexit Trade Talks Facing Tough Weeks Ahead

  

  The Prime Minister of the United Kingdom (UK), Boris Johnson, said on Friday that now is the time to be ready for a not reaching a trade deal with the European Union. This comes about 10 weeks before the end of the transition period, which was agreed with the Brexit …

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• 16 October 2020 7:05 pm

  French Minister Supports Tariffs on American Imports

  

  France’s Minister of Finance, Bruno Le Maire, said on Friday that he supports imposing European tariffs on imports from the United States, after the World Trade Organization (WTO) allowed the European Union the right to retaliate against the US subsidies for Boeing, Reuters reported. “The EU has the possibility to …

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• 16 October 2020 5:53 pm

  US Retail Sales Rise by 1.9% in September

  

  Retail Sales in the US rose by 1.9% on a monthly basis in September to $549.3 billion, the data published by the US Census Bureau showed on Friday. This reading followed August’s increase of 0.6% and came in better than the market expectation of 0.7%. “Nonstore retailers were up 23.8%from …

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• 16 October 2020 5:44 pm

  U.S. Industrial Production Contracts by 0.6% in September

  

  Industrial Production in the United States contracted by 0.6% on a monthly basis in September, the US Federal Reserve reported on Friday. This reading missed the market expectation for an expansion of 0.5% by a wide margin. Capacity utilization for the industrial sector decreased 0.5 percentage point in September to …

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• 16 October 2020 5:09 pm

  Canada: Manufacturing Sales decline by 2%

  

  Manufacturing Sales in Canada declined by 2% to $52.4 billion in August, the data published by Statistics Canada revealed on Friday. This reading followed July’s impressive increase of 7.2% and came in worse than the market expectation for a fall of 1.4%. “Excluding transportation equipment, manufacturing sales rose 1.1%,” Statistics …

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• 16 October 2020 4:35 pm

  GBP/USD Steadies Above 1.2900 Mark, Flat-Lined Ahead of US Retail Sales

  

  The pair was unable to capitalize on the rally and faced heavy selling near the 1.2960 area in response to UK Prime Minister Boris Johnson’s comments regarding Brexit. Johnson said he would seek a no-deal Brexit unless there is a fundamental change in the EU approach. Johnson’s comments led to …

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• 16 October 2020 3:42 pm

  Record Increase in Covid-19 Cases in Switzerland

  

  Data from the Public Health Agency in Switzerland showed today, Friday, that the number of Coronavirus cases increased by 3105, in a new daily record increase. The agency recorded 74,422 confirmed cases in total in Switzerland and the neighboring principality of Liechtenstein. Five people also died from the virus, bringing …

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