Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 31 October 2020 12:03 am

  Oil Ends October at Lowest Level in Five Months

  

  Oil prices declined on Friday to settle at their lowest closing level in about five months, as a negative outlook for the recovery of global demand persists, with uncertainty surrounding the future of output cuts. Brent crude futures for December delivery declined by 19 cents, or 0.5%, and closed at …

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• 30 October 2020 11:28 pm

  Gold Posts Third Weekly Decline

  

  Gold prices rose on Friday to limit its third consecutive weekly decline, amid uncertainty that is dominating the market. Gold futures for December delivery rose by $11.90, or 0.6%, and settled at $1,879.90 per ounce, its lowest closing level since September 25. For the week, gold futures posted a 1.3% …

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• 30 October 2020 10:40 pm

  US Oil Rigs Rise for Sixth Week in Row

  

  The number of active oilrigs in the United States rose by 10 to 221 during the week, according to the weekly report by Baker Hughes released on Friday. This is the sixth consecutive weekly increase in active rigs drilling for oil in the US. A decline in natural gas rigs …

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• 30 October 2020 10:35 pm

  Global Demand for Gold Declines to Lowest Level in 11 Years

  

  The global demand for gold declined during the third quarter (Q3) of 2020 by 19% year-on-year. Demand during Q3 for the yellow metal amounted to 892 metric tons, the lowest quarterly level registered since 2009, according to data by the World Gold Council. Meanwhile, investments in the gold sector rose …

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• 30 October 2020 10:19 pm

  USD/CHF Enhances its Weekly Gains

  

  The US Dollar (USD) is rising on Friday against the Swiss Franc (CHF), supported by increased demand amid uncertainty. The USD/CHF pair is rising and is close to finishing the week in gains. The pair is trading higher for the day by 0.22% at 0.9172. The pair has been moving …

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• 30 October 2020 9:53 pm

  USD/JPY Struggling to Restore 104.75 Level

  

  The US Dollar (USD) is rebounding against the Japanese Yen (JPY) on Friday, after showing a negative performance earlier in the day. The USD/JPY pair is marginally up for the day by 0.02% at 104.63, and has been moving throughout the day between 104.130 and 104.740, facing strong resistance at …

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• 30 October 2020 9:43 pm

  European Stocks Limit Weekly Decline

  

  European stocks closed higher on Friday, supported by positive economic data in the Eurozone. The STOXX Europe 600 index rose by 0.30% and finished at the level of 342.77, falling by 5.3% for the week. Meanwhile, the UK’s FTSE100 slipped by 0.08%, while the German index DAX declined by 0.36%. …

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• 30 October 2020 8:50 pm

  US Consumer Spending Rises in September

  

  Consumer spending in the United States increased by 1.4% in September, exceeding market expectations. This comes after consumer spending rose by 1% in August, a level that was expected to be maintained last month. It is worth noting that consumer spending makes up around two-thirds of economic activity in the …

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• 30 October 2020 7:24 pm

  USD Stabilizes After Showing Fluctuations

  

  The US Dollar (USD) is stabilizing on Friday against major currencies after fluctuating earlier in the day, as it moved from the negative territory to be mostly unchanged from its closing level yesterday. The Dollar Index (DXY) is marginally down by 0.1% at 93.86. The index has been moving in …

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• 30 October 2020 6:15 pm

  Wall Street Opens Lower as Technology Declines and Covid Grows

  

  The main US stock indices fell at the open today, Friday, affected by sales in technology companies after reports of results below expectations, while pessimism was exacerbated by a record increase in cases of Coronavirus infection and concerns about the presidential election. The Dow Jones Industrial Average lost 86.84 points, …

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• 30 October 2020 6:12 pm

  US: UoM Consumer Sentiment Index Improves to 81.8 in October

  

  The Consumer Sentiment Index in the US rose from 80.4 in September 81.8 (final) in October, the University of Michigan’s latest Surveys of Consumers showed on Friday. This reading came in better than the market expectation and the previous estimate of 81.2. Further details of the publication revealed that the …

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• 30 October 2020 6:12 pm

  US: Annual Core PCE Price Index Edges Higher

  

  The Personal Consumption Expenditures (PCE) Price Index in September rose 0.2% on a monthly basis, the US Bureau of Economic Analysis reported on Friday. On a yearly basis, the PCE Price Index increased to 1.4% from 1.3% in August (revised from 1.4%). Additionally, the annual Core PCE Price Index, the …

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• 30 October 2020 6:11 pm

  Canada Real GDP Grew by 1.2% in August

  

  The economic activity in Canada expanded by 1.2% on a monthly basis in August, the data published by Statistics Canada showed on Friday. This print followed July’s growth of 3.1% (revised from 3%) and beat the market expectation of 0.9%. “This fourth consecutive monthly increase continued to offset the steepest …

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