Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2020

• 6 November 2020 7:30 pm

  Canada’s Ivey PMI Rises in October

  

  Canada’s Ivey Purchasing Managers Index (PMI) increased to a seasonally adjusted reading of 54.5 in October, from 54.3 in September, beating expectations of 51.5, data showed on Friday. This is the fifth consecutive month for the Canadian PMI, in which it maintained its level above 50. The employment index rose …

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• 6 November 2020 6:03 pm

  US Election: Biden Takes The Lead in the Battleground State of Pennsylvania

  

  Former Vice President Joe Biden has taken a small lead in the battleground state of Pennsylvania against US President Donald Trump with 95% os the estimated votes tallied so far, Reuters reported, citing Edison Research. According to the latest figures, Biden has 49.4% and Trump has 49.3% in the state.

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• 6 November 2020 5:41 pm

  Canada: Unemployment Rate Edges Lower to 8.9% in October

  

  Net Change in Employment in Canada rose by 83,600 in October, compared to analysts’ estimate of 100,000, and brought the Unemployment Rate down to 8.9% from 9% in September, Statistics Canada reported on Friday. This reading missed the market expectation of 8.8% by a small margin. Further details of the …

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• 6 November 2020 5:33 pm

  NFP Rise by 638K in October

  

  Nonfarm Payrolls (NFP) in the US rose by 638,000 in October, the data published by the US Bureau of Labor Statistics showed on Friday. This reading followed September’s increase of 672,000 (revised from 661,000) and beat the market expectation of 600,000. Further details of the publication revealed that the Unemployment …

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• 6 November 2020 4:57 pm

  INE: Key Economic Indicators For Italy Are at Pre-Crisis Levels And Outlook is Murky

  

  National Statistics Institute said in its monthly report today, Friday, that Italian key economic indicators have returned to levels that were only recorded before the emergency health crisis of Coronavirus, but expectations for the coming months are still shrouded in uncertainty. Last week’s data showed that Italy’s GDP 16.1%, much …

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• 6 November 2020 4:20 pm

  Fitch Expects Increased Risks With Turkish Lira Reaching a Fresh Low

  

  Turkey has not tightened policy enough to support the lira, which hit a new low on Friday, a senior analyst at Fitch Ratings said, and that the country’s foreign exchange reserves and external financing remain weaknesses. “more pressure from the currency, double-digit inflation and the erosion of foreign exchange reserves …

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• 6 November 2020 3:30 pm

  Halifax: UK House Prices Rose at The Fastest Annual Pace Since 2016

  

  Mortgage Halifax said British home prices rose in October at the fastest annual pace since June 2016, although there were signs of momentum dissipating as the COVID-19 pandemic escalated. Halifax added that house prices increased 7.5% in October compared to a year ago, and compared to a 7.3% annual growth …

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• 6 November 2020 2:27 pm

  European Stocks Losing Momentum After a 5-Day Rally

  

  European stocks faced difficulties to gain momentum today, Friday, after a strong rally this week, as Italy and France recorded record numbers of cases of Coronavirus, while the counting of votes in the US elections continues. The pan-European STOXX 600 index fell 0.1%, after five days of gains that put …

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• 6 November 2020 1:34 pm

  US Election: Biden Takes The Lead in Georgia, With 99% of Estimated Votes Tallied

  

  With 99% of the estimated votes tallied in Georgia, there seems to be a flip in the expected outcome, as the former Vice-President Joe Biden takes the lead. President Trump lost footing in the battleground after his lead continued to narrow in the last hours.

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• 6 November 2020 1:12 pm

  German Industrial Production Rose Less Than Expected in September on Covid-19 Fears

  

  Data on Friday showed that German industrial production rose less than expected in September as the Coronavirus crisis curbed activity, in new evidence that the recovery from the pandemic shock is slowing down in Europe’s largest economy. Figures released by the Federal Statistics Office showed that industrial production increased 1.6% …

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• 6 November 2020 12:53 pm

  Gold Falling With Dollar’s Rally, But Heading For Best Week in More Than 3 Months

  

  Gold fell on Friday as the dollar rose, but the yellow metal is on track to record its best weekly performance since late July, thanks to hopes of more central bank support, as investors bet on a split in the US Congress under the presidency of Joe Biden. And gold …

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• 6 November 2020 12:49 pm

  Oil Declining as Covid-19 Cases Rise And Vote Count Continues in America

  

  US oil fell more than 2% on Friday, as new lockdown measures in Europe to stem the rise in Covid-19 cases fueled concerns about the outlook for demand, while markets remain in a state of tension due to the long-running US election counting. West Texas Intermediate crude fell $ 1.06, …

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• 6 November 2020 11:27 am

  The Dollar Expecting More Losses on Continued Votes Count

  

  The dollar stabilized against several currencies on Friday, but traders say it is likely to incur more losses as the controversial US presidential election dashes hopes of a major stimulus to support the economy anytime soon. Investors are betting that Democratic candidate Joe Biden will become the next president, but …

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