Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 29 October 2020 2:17 am

  Oil Prices Tumble on US Inventory Data

  

  Oil prices declined on Wednesday and finished at their lowest level since June, after data showed an increase in crude inventories in the United States. Data by the US Energy Information Administration (EIA) showed earlier today that crude oil stockpiles in the United States grew by 4.3 million barrels last …

  Read More »
• 29 October 2020 1:48 am

  USD Rebounds Across the Board

  

  The US Dollar (USD) rose across the board on Wednesday, supported by an increased demand, amid a surge in new COVID-19 cases in many countries. The Dollar Index (DXY), which measures the USD performance against a basket of six major currencies, is up by 0.55% for the day at 93.45. …

  Read More »
• 29 October 2020 1:18 am

  US Treasury Yields Fluctuate and Close on Little Changes

  

  Treasury yields in the United States stabilized on Wednesday, amid increasing concerns about the rising number of COVID-19 cases around the globe. The return on the 10-year Treasury bond increased by 0.2 basis point to 0.78%% The yield on the 30-year Treasury bond declined by 0.1 basis point to 1.57%. …

  Read More »
• 29 October 2020 12:42 am

  Gold Settles at Lowest Closing Level in Month

  

  Gold prices declined on Wednesday to finish at their lowest level in about a month, as the US Dollar (USD) rose across the board amid concerns about the rising number of new COVID-19 cases. Gold futures for December delivery plunged by $32.70, or 1.7%, and closed at $1,879.20 per ounce. …

  Read More »
• 28 October 2020 10:11 pm

  BoC Expects Canadian Economy to Grow by 4% in 2021

  

  The Bank of Canada (BoC) on Wednesday decided to maintain its target for the overnight rate at the effective lower bound of 0.25%, with the bank rate at 0.5%, and the deposit rate at 0.25%. The Bank is maintaining its extraordinary forward guidance, reinforced and supplemented by its quantitative easing …

  Read More »
• 28 October 2020 9:10 pm

  European Stocks Hit Five-Month Low

  

  European stocks closed lower on Wednesday, registering huge losses on news that France and Germany are planning new lockdown measures to curb the new wave of the Coronavirus (COVID-19) pandemic. STOXX Europe 600 index plunged by 2.95% to close at 342.17, its lowest level since late May. The UK’s FTSE100 …

  Read More »
• 28 October 2020 6:38 pm

  BoC Maintains Main Rate at 0.25%

  

  The Bank of Canada (BoC) on Wednesday decided to maintain its key interest rate unchanged at a 0.25%, in line with market expectations. BoC is expected to maintain the record low rate for about two years, as the Canadian economy recovers from the impact of the Coronavirus (COVID-19) pandemic.

  Read More »
• 28 October 2020 6:35 pm

  German Economy to Grow During Q3 of 2020

  

  Germany’s Minister of Economy, Peter Altmaier, said on Wednesday that the largest economy in Europe is expected to perform better than expected during the third quarter (Q3) of 2020. Meanwhile, the DIW institute expects the German gross domestic product (GDP) will grow by 6% in Q3 of the year, recovering …

  Read More »
• 28 October 2020 6:11 pm

  US Stocks Drop as Economic Outlook Deteriorates On Covid-19

  

  Major US stock indices opened lower on Wednesday as Corona virus infections grew at an alarming rate in the United States and Europe, dashing hopes for a speedy recovery for the global economy. The Dow Jones Industrial Average fell 361.05 points, equivalent to 1.31%, to 27,102.14 points, and the S&P …

  Read More »
• 28 October 2020 6:09 pm

  US Wholesale Inventories Decline in September

  

  Wholesale inventories in the United States declined last month on a monthly basis by 0.1%, preliminary data by the US Census Bureau showed on Wednesday. On an annual basis, wholesale inventories decreased by 4.5% during September, reaching a seasonally adjusted $634.8 billion. As for retail inventories, a 1.6% monthly rise …

  Read More »
• 28 October 2020 5:40 pm

  European Union Urges Eurozone to Step up response to pandemic

  

  The European Commission has urged the EU governments to step up the response to the coronavirus pandemic amid the alarming spike in infections, Reuters reported on Wednesday. “EU Commission calls for coordinated testing strategies in EU states, recommends the use of antigen tests.”“EU extends to April 2021 suspension of customs …

  Read More »
• 28 October 2020 5:33 pm

  US: Trade Deficit Narrows to $79.4 Billion in September From $83.1 Billion

  

  The US merchandise trade deficit decreased sharply in September while exports increased to support expectations of record economic growth Q3. The US Commerce Department said on Wednesday that the merchandise trade deficit fell 4.5% last month to $ 79.4 billion. “Exports of goods for September were $122.0 billion, $3.2 billion …

  Read More »
• 28 October 2020 4:19 pm

  Oil is Down More Than 4% as Increase in US Stockpiles Fueled Fears of Excess Supplies

  

  Oil prices plunged on Wednesday, giving up the gains they had made the previous day, as an increase in US crude stocks and a rise in coronavirus cases in Europe and the United States fueled concerns about oversupply and weak demand for fuel. Brent crude futures fell $ 1.60 to …

  Read More »