Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 23 October 2020 3:54 pm

  UK Preliminary Manufacturing PMI Beats Estimates in October

  

  The UK manufacturing and services sector activities showed mixed performance in October, the preliminary report from IHS Markit showed this Friday. The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) dropped to a three-month low of 53.3 in October versus 53.1 expected and 54.1 – September’s final reading. …

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• 23 October 2020 3:25 pm

  German Flash Manufacturing PMI Jumps to 58 in October

  

  According to the preliminary manufacturing activity report from IHS/Markit research, released this Friday, a further rise in the German manufacturing output helped to support growth across the private sector in October. In fact, the flash version of the German Manufacturing PMI unexpectedly jumped to a 30-month high level of 58.0, …

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• 23 October 2020 2:59 pm

  Service Activity Contracted in Germany

  

  The service activity in the German economy recorded a contraction during October, by more than analysts’ expectations, to shift from an expansion area to a contraction. Data released by the Markit Statistics Office on Friday showed that the index of service activity in the German economy recorded 48.9 points during …

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• 23 October 2020 2:29 pm

  French Manufacturing Activity Rose Less Than Expected

  

  The manufacturing activity in the French economy recorded an increase in the current month of October, less than expected, to remain within the expansion area above the 50-point level that separates expansion from contraction. Preliminary data issued by the Markit Statistics Office on Friday showed that the French manufacturing PMI …

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• 23 October 2020 2:20 pm

  Eurozone Business Activity Falls as Virus Restrictions Halt Recovery

  

  A survey on Friday showed that Eurozone economic activities slipped back into decline this month with renewed restrictions to control the coronavirus pandemic, forcing many companies in the region’s dominant service sector to limit operations. A second wave of the virus swept across Europe, and 90% of economists polled by …

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• 23 October 2020 2:13 pm

  Gold is Stable on Hopes for a Strong US Dollar Stimulus

  

  Gold stabilized on Friday, as expectations of an eventual US stimulus package were offset by the pressures imposed by the strong dollar. There was no significant change in gold in immediate trading at 1903.36 dollars an ounce before the opening of European markets, after it had fallen more than one …

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• 23 October 2020 2:10 pm

  US Dollar is Stable After US Election Debate And Heading For a Weekly Loss

  

  The dollar stabilized against most currencies on Friday after a balanced presidential debate in the United States but is heading towards a weekly loss as investors await stimulus talks in Washington and post-Brexit trade negotiations. US President Donald Trump adopted a more conservative tone compared to what he was in …

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• 23 October 2020 5:07 am

  GBP/USD Slides Back Closer to Session Lows Around 1.3070-65

  

  The GBP/USD retreated nearly 50 pips from European session highs to levels beyond 1.3100 and fell back to the lower end of the intraday range. The fresh sell-off around the US dollar helped the pair regain some positive momentum during the early last day of the week, but the ongoing …

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• 22 October 2020 11:53 pm

  Oil Recovers Most of Recent Losses

  

  Oil prices rose on Thursday on renewed hopes for another stimulus package in the United States, where a decline in jobless claims also helped improve the outlook for demand. Additionally, remarks that indicated that the OPEC+ alliance may prolong output cuts provided support for crude prices, as Brent crude futures …

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• 22 October 2020 11:44 pm

  Gold Finishes Lower as USD Rises

  

  Gold prices declined on Thursday as the US Dollar (USD) showed signs of recovery from its decline yesterday. In addition, remarks suggesting a near agreement for a new stimulus package in the United States supported risk appetite among investors and reduced demand for safe havens. Gold futures for December delivery …

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• 22 October 2020 11:41 pm

  GBP Declines Against USD and EUR

  

  The British Pound (GBP) retreated on Thursday, after showing a very strong performance yesterday that was supported by renewed hopes for a trade agreement between the United Kingdom (UK) and the European Union (EU) in the post-Brexit stage. The GBP is down against the US Dollar (USD) by 0.52%, with …

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• 22 October 2020 11:35 pm

  EUR/USD Gives Up Month-High

  

  The Euro (EUR) is declining against the US Dollar (USD) on Thursday, after finishing Wednesday at its highest level in about a month at 1.1861. The EUR/USD is down by 0.36% at 1.1818, after levelling down earlier as low as 1.1812. The pair’s decline comes amid a recovery by the …

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• 22 October 2020 11:17 pm

  Pelosi: New Stimulus Package is Pretty Close

  

  The United States Speaker of the House, Nancy Pelosi, said that talks for a new stimulus deal are showing progress. A deal could be reached pretty soon, Pelosi said in an interview with MSNBC on Thursday. “We’re on a good path.”“We’re coming closer.” Pelosi said on Wednesday that there remains …

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