Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 27 October 2020 12:44 pm

  Gold Rises as a New Wave of Infections Casts a Shadow Over the Economic Recovery

  

  Gold prices rose on Tuesday as a new wave of infections with the Coronavirus threatened to slow the global economic recovery from the Covid-19 pandemic, adding to the appeal of the yellow metal as a safe haven. Gold spot 0.2% to 1,906.83 dollars an ounce. In US futures trading, it …

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• 27 October 2020 12:23 pm

  Oil Steadies But Outlook is Bleak

  

  Oil prices rose on Tuesday after recent sharp losses, but market sentiment remains weak as high COVID-19 cases hurt the outlook for fuel demand while supplies rise. And Brent crude rose 42 cents, or the equivalent of 1%, to 40.88 dollars a barrel. U.S. crude gained 37 cents, or 1%, …

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• 27 October 2020 2:24 am

  NYSE Closes in Red off Session Lows

  

  The New York Stock Exchange (NYSE) declined on Monday, opening the week with a negative performance despite recovering from some of its earlier losses in the day, amid concerns about the increased number of new COVID-19 cases. The Dow Jones Industrial Average closed lower by 650.19 points, or 2.3%, at …

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• 27 October 2020 1:33 am

  US Treasury Yields Decline As Demand Soars

  

  Treasury yields in the United States declined on Monday as demand for safe havens increased amid a surge in new COVID-19 cases. Return on the 10-year Treasury bonds decreased by 2.5 basis points to 0.816%. As for the 30-year bond yield, it declined by 3.7 basis points to 1.609%. Meanwhile, …

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• 27 October 2020 1:17 am

  USD Rises as Demand for Safe Havens Increases

  

  The US Dollar rose on Monday amid an increased demand for safe havens, which is due to a surge in new COVID-19 cases. In addition, stalling talks for a new stimulus package in the United States further advanced demand, which helped the USD maintains its rising trend that started at …

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• 27 October 2020 12:24 am

  Oil Finishes at Three-Week Low

  

  Oil prices declined on Monday, finishing the first session of the week at its lowest level in about three weeks. A surge in new COVID-19 cases is raising concerns about demand and economic recovery, especially in the United States and Europe. Brent crude futures for December delivery lost $1.31, or …

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• 27 October 2020 12:08 am

  Gold Closes Marginally Higher as USD Rises

  

  Gold prices rose on Monday for the fifth time in six sessions, supported by increased demand for safe havens, amid a surge in new COVID-19 cases. The rise in the yellow metal prices came despite the US Dollar (USD) rising across the board. Gold futures for December delivery closed marginally …

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• 26 October 2020 11:44 pm

  US Appeals WTO Ruling on China Tariffs

  

  The United States is appealing against a recent ruling by the World Trade Organization (WTO) that considered American tariffs imposed on China in 2018 as a breach to global trade rules, Reuters reported on Monday. Last month, a WTO panel ruled that there was no justification for the imposed tariffs.

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• 26 October 2020 8:46 pm

  European Stocks Fall on COVID-19 Concerns

  

  European stock markets showed a negative performance in the first session of the week, due to the surge in the number of COVID-19 cases amid a second wave of the pandemic in many countries across the continent. The STOXX Europe 600 index fell by 1.81% and finished Monday at 355.94 …

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• 26 October 2020 8:41 pm

  Germany to Raise Economic Performance Forecasts for 2020

  

  The government of Germany is set to revise upwards its expectations for the gross domestic product (GDP) in 2020, Reuters reported on Monday. Berlin foresees GDP to contract by 5.5% this year, down from a previous estimate of a 5.8% contraction. The revision is expected to be presented to the …

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• 26 October 2020 8:35 pm

  US New Home Sales Fall in September

  

  New homes sales in the United States decreased last month, against market expectations, data by the US Department of Commerce showed on Monday. New single-family home sales declined by 3.5% to a seasonally adjusted annual rate of 959,000 units in September. Meanwhile, the August reading was revised down to 994,000 …

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• 26 October 2020 6:10 pm

  OPEC’s Barkindo: Economic And Oil Demand Recovery Remain Anemic

  

  The Secretary-General of OPEC said today, Monday, that OPEC+ producers do not expect oil prices to collapse again, as happened in Q2, adding that members of the alliance “will not change course” in terms of rebalancing the market. “The economic and oil demand recovery remain anemic,” the Organization of Petroleum …

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• 26 October 2020 5:25 pm

  Oil Drops More Than 2% on Increased Coronavirus Cases

  

  Oil fell more than 2% on Monday, extending last week’s losses in light of the growing cases of Covid-19 disease in the United States and Europe, which raises concerns about the demand for crude, especially in light of the chances of increases in supply. Brent crude was down $ 1.25, …

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