Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 6 October 2020 1:27 am

  NYSE Closes Higher on Investors’ Optimism

  

  The New York Stock Exchange (NYSE) closed Monday higher, opening the week with a positive performance supported by positive news about the health of US President Donald Trump, who is reportedly preparing to return to the White House. In addition, Wall Street remains in anticipation for a new stimulus package …

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• 6 October 2020 1:04 am

  CAD Rises to Highest Level in Two Weeks

  

  The Canadian Dollar (CAD) rose to its highest level in about two weeks against the US Dollar (USD), supported by a surge in oil prices of more than 5%. Gains by the CAD are amplified by the USD general weakness across the board, amid an improvement in risk appetite. The …

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• 6 October 2020 12:00 am

  Oil Rises by More than 5%

  

  Oil prices surged on Monday, recovering most of its losses last week, supported by an improved risk appetite after positive news about the health of US President Donald Trump. Brent crude futures for December delivery closed higher by $2.02, or 5.1%, at $41.29 per barrel, after four consecutive daily declines. …

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• 5 October 2020 11:52 pm

  Gold Closes Above $1,920 an Ounce

  

  Gold prices rose on Monday to their highest level in nearly two weeks, as the US Dollar (USD) declined across the board. Gains by the precious metal come despite an improved risk sentiment and reduced demand for safe havens; however, the general weakness of the USD supported the yellow metal. …

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• 5 October 2020 11:16 pm

  USD Declines Amid Improved Risk Appetite

  

  An improved risk appetite seems to have left its toll on the US Dollar (USD), which opening the week with decline across the board. Investors’ risk appetite improved after positive news about the health of the US president, as well as renewed hopes for a second stimulus package to be …

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• 5 October 2020 10:01 pm

  BoE’s Haskel: Negative Rates Could Have Positive Effects

  

  Member of the Bank of England’s (BoE) Monetary Policy Committee, Jonathan Haskel, said on Monday that the Eurozone could see positive effects from negative interest rates, according to recent researches. “The effectiveness is probably going to be contingent on the structure of the financial system and the position where we …

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• 5 October 2020 9:51 pm

  GBP/EUR Declines Awaiting Support from Brexit Talks

  

  The British Pound (GBP) declined against the Euro (EUR) on Monday, opening the week with limited losses amid anticipation for trade talks between the European Union (EU) and the United Kingdom (UK). The two sides recently agreed to speed up negotiations to reach a breakthrough. Disagreements persist and it remains …

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• 5 October 2020 7:55 pm

  Evans Sees Inflation Overshoot in Four Years

  

  President of the Federal Reserve Bank of Chicago, Charles Evans, expects an inflation overshoot after more than three years, Bloomberg reported. “I expect inflation to slowly improve, reaching 2% on a persistent basis in 2023 and then moderately overshooting 2% over the following few years.”“We likely have a lot of …

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• 5 October 2020 7:42 pm

  Fed’s Evans: Allow Inflation to Reach 2.5%

  

  President of the Federal Reserve Bank of Chicago, Charles Evans, expects inflation in the United States will reach 2% and unemployment at 4% by 2023, Reuters reported. According to Evans, inflation could be allowed to reach 2.5%. “The Fed needs to have an ‘in it to win it’ attitude toward …

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• 5 October 2020 6:28 pm

  Eurozone Economic Recovery Stalled in September as Services Sector Contracted

  

  A survey showed that the economic recovery in the Eurozone was faltering in September due to the decline of the service sector, which dominates the economy of the bloc, as a result of re-imposing some restrictions on activities to prevent a new spread of the Coronavirus. Rising infection rates in …

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• 5 October 2020 5:37 pm

  Eurozone Investor Sentiment Fell in October

  

  Monday’s survey showed investor sentiment in the Euro area declined in October, halting a five-month streak of improvement, in an indication of concerns about the increasing of coronavirus cases. The Sentex Euro area index fell to -8.3 from -8.0 in September, compared to Reuters’ forecast for a reading of -9.5. …

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• 5 October 2020 4:39 pm

  Dollar Holding Its Breath For Developments in Trump’s Health and a Financial Package

  

  The dollar index declined slightly on Monday, as it witnessed little change from Friday’s closing, as financial markets await news about the health of US President Donald Trump and the developments in talks regarding financial aid in Washington. On Friday, Trump announced that he had tested positive for COVID-19, prompting …

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• 5 October 2020 3:38 pm

  Eurozone Retail Sales Stronger Than expected in August

  

  Data on Monday showed that Eurozone retail sales were much stronger than expected in August thanks to a massive increase in online purchases and growth in clothing sales amid the Covid-19 pandemic, but July sales were revised down. Retail sales in 19 Eurozone countries jumped 4.4% month-on-month in August, registering …

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