Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 28 October 2020 4:17 pm

  Turkish Lira at Fresh Lows Against USD

  

  The Turkish lira weakened to new lows against the dollar on Wednesday after the central bank raised its forecast for the rate of inflation in the current and next years. The lira recorded its lowest level ever at 8.2655 against the US currency to close at 8.1875 pounds yesterday and …

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• 28 October 2020 4:04 pm

  Euro Falls on Concerns About French Isolation Measures

  

  The dollar rose against the euro due to the possibility of imposing general isolation measures that include in France, while the Japanese yen rose to its highest level in more than a month as traders adjusted their positions in preparation for the US presidential elections next week. The dollar fell …

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• 28 October 2020 1:43 pm

  European Shares at Their Lowest Level Since Mid-June

  

  On Wednesday, European stocks reached their lowest levels since mid-June, following a report that France was considering implementing nationwide lockdown measures for a month to combat a rise in coronavirus cases. The pan-European STOXX 600 index fell 1.6%, while the German DAX index tumbled 2.2%, the British FTSE 100 index …

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• 28 October 2020 1:05 pm

  Turkey’s Economic Confidence Index Rose 4.8% in October

  

  Turkish Statistics Institute data revealed on Wednesday that the Turkish economic confidence index rose 4.8% on a monthly basis in October to 92.8 points, recording a sixth consecutive month after it retreated due to measures to combat the outbreak of the Coronavirus. Economic activity fell sharply in March and April, …

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• 28 October 2020 12:31 pm

  Nikkei Falls On Coronavirus Fears And US Elections

  

  Japanese stocks fell on Wednesday for a third consecutive session, weighed by concerns related to an increase in coronavirus cases in Europe and the United States, which could further damage the already ailing global economy. Analysts also said that apathy dominated trading, as the US presidential elections kept many investors …

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• 28 October 2020 12:26 pm

  Oil Prices Fell More 3% Due to Increased Fears of Oversupply

  

  Oil prices retreated on Wednesday, losing most of the gains they made the previous day, as increased US crude stocks and a rise in coronavirus cases in Europe and the United States boosted concerns about oversupply and weak demand for fuel. By 0725 GMT, Brent crude was down $ 40.20 …

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• 28 October 2020 11:31 am

  API: Crude And Gasoline Stocks Rose Last Week

  

  Data from the American Petroleum Institute (API) on Tuesday showed that US inventories of crude oil and gasoline increased last week. Crude inventories rose by 4.6 million barrels over the week ending October 23 to about 495.2 million barrels, while analysts’ expectations were for a decline of 1.2 million barrels. …

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• 28 October 2020 2:14 am

  Turkish Lira Hits a New Record Low

  

  The Turkish Lira (TRY) declined on Tuesday to another record low, with expectations the USD/TRY pair could now reach an unprecedented 8.5 or 9 levels. The Turkish currency’s losses since the beginning of the year against the US Dollar (USD) have now reached 20%. The USD/TRY is higher for the …

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• 28 October 2020 2:08 am

  NYSE Declines as COVID-19 Cases Rise

  

  The New York Stock Exchange (NYSE) closed on Tuesday mostly lower, amid concerns about another wave of the Coronavirus pandemic, while tech stocks registered a good performance. The Dow Jones Industrial Average declined by 222.2 points, or 0.8%, and closed at 27,463.2 points. The S&P 500 index fell by 10.29, …

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• 28 October 2020 1:01 am

  US Treasury Yields Decline amid COVID-19 Worries

  

  Treasury yields in the United States declined on Tuesday, amid rising concerns about another wave of the Coronavirus (COVID-19) pandemic, as well as the upcoming elections and the anticipated stimulus package. Return on the 10-year Treasury note declined by 2.3 basis points to 0.778%. The 30-year bond yield decreased by …

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• 27 October 2020 11:37 pm

  Oil Prices Rise on Storm Zeta News

  

  Oil prices rose on Tuesday as weather conditions are expected to once again affect production in the Gulf of Mexico, On the other hand, a gloomy outlook for global demand amid another surge in COVID-19 cases limited crude gains. Brent crude futures for December delivery increased by 74 cents, or …

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• 27 October 2020 11:03 pm

  Gold Settles at Week-High

  

  Gold prices closed higher on Tuesday, as the US Dollar (USD) declined across the board amid selling pressures, while demand for safe havens remained high amid worries about another wave of the COVID-19 pandemic. Gold futures for December delivery rose by $6.20, or 0.3%, and finished at $1,911.90 per ounce. …

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• 27 October 2020 10:58 pm

  ECB to Lower Inflation Expectations – Goldman Sachs

  

  Goldman Sachs expects the board of the European Central Bank (ECB) to lower their inflation projections for 2020-2021. This comes in light of the large downside surprise in August inflation and the appreciation of the Euro (EUR). As for inflation expectations for 2022, they are forecasted to remain unchanged. Moreover, …

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