Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2020

• 30 September 2020 1:44 pm

  Gold on Its Way to Post Worst Month Since November 2016

  

  The yellow metal continues on its way to post its biggest monthly decline in nearly 4 years, driven by the strong US dollar and the return of caution to the markets after the first presidential debate in the United States. Spot gold fell 0.6% to 1,885.81, down 4.3% since the …

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• 30 September 2020 1:12 pm

  Chinese Manufacturing Activity Expanded in September

  

  China announced that manufacturing activity expanded in September as the world’s second-largest economy continued to show signs of recovering from the coronavirus pandemic. The official PMI manufacturing index for September came in at 51.5 compared to 51.0 in August, according to the National Bureau of Statistics. PMI readings above 50 …

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• 30 September 2020 12:20 pm

  API: Oil Inventories Decline And Gasoline Inventories Rise

  

  Data from the American Petroleum Institute (API) showed that crude oil inventories declined in the United States last week, while gasoline inventories rose. Crude inventories fell by 831 thousand barrels in the week ending September 25 to about 494.4 million barrels, while analysts’ expectations indicated an increase of 1.6 million …

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• 30 September 2020 11:28 am

  German Retail Sales Soar in August Rising Hopes of Recovery

  

  Data showed that German retail sales rose much more than expected in August, reviving hopes that household spending in Europe’s largest economy will lead to a strong recovery in Q3 from the coronavirus shock. Data from the Federal Statistics Office revealed that retail sales jumped 3.1% on a monthly basis …

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• 30 September 2020 11:21 am

  Odds of Trump Winning US Elections Drop After the First Debate

  

  According to Reuters, Trump’s chances of continuing to hold the presidency after the November 3 election have fallen to 40% after the main debate with Biden on Wednesday morning. The likelihood of Trump winning the election was 42% before the debate.Trump and Biden had argued over the economy, climate change, …

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• 30 September 2020 10:26 am

  UK Final GDP Revised up to-19.8% QoQ in Q2

  

  The final reading of Q2 UK GDP came in at -19.8% QoQ vs. -20.4% expected and -20.4% last while on an annualized basis the figure stood at -21.5% vs. -21.7% expected and -21.7% seen previously. The Current Account numbers for Q2 came in at GBP-2.8 B versus GBP-0.4 B expected …

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• 30 September 2020 10:23 am

  PBOC Sets Yuan Reference Rate at 6.8101

  

  The People’s Bank of China (PBOC) has set the yuan reference rate at 6.8101 versus Tuesday’s 6.8171.

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• 30 September 2020 10:23 am

  FX Option Expiries For Sept 30 NY Cut

  

  EUR/USD1.1600 919m EUR amount1.1650 1.0bn1.1725 640mUSD/JPY104.50 754m USD amount104.85 563m105.00 469m105.10 1.1bn105.62 444m105.70 450m106.00 445mGBP/USD1.2800 244m GBPNZD/USD0.6580 348m NZD amount0.6675 240m

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• 30 September 2020 6:36 am

  Trump and Biden Exchange Attacks at First Debate

  

  The first US presidential debate was held on Tuesday night in Cleveland, Ohio, between the incumbent Republican President Donald Trump, and Former Vice President and the Democratic nominee Joe Biden, with a limited number of attendees in accordance with social distancing rules and preventive measures against COVID-19. At the beginning …

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• 30 September 2020 12:51 am

  Wall Street Closes in Red ahead of Presidential Debate

  

  The New York Stock Exchange (NYSE) closed lower on Tuesday, after two consecutive rises, amid concerns about the rising number of COVID-19 cases and ahead of the first of three presidential debates. Three debates between incumbent President Donald Trump and the Democratic Party nominee Joe Biden will be held before …

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• 30 September 2020 12:38 am

  Oil Prices Down by More than 3%

  

  After rising for the first session of the week, oil prices returned to losses on Tuesday. The Brent crude futures for November delivery dropped by $1.40, or 3.3%, and closed at $41.03 per barrel. Meanwhile, the US West Texas Intermediate (WTI) crude futures for November delivery closed lower by $1.31, …

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• 30 September 2020 12:33 am

  Gold Settles Above $1,900 an Ounce

  

  Gold prices increased on Tuesday for the second consecutive session, restoring the $1,900 per ounce mark. The yellow metal gains were supported by the US Dollar (USD) decline. Gold futures for December delivery gained $20, or 1.1%, and settled at the level of $1,903.20 per ounce.

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• 30 September 2020 12:04 am

  Fed’s Williams Expects Recovery in Three Years

  

  President of the Federal Reserve Bank of New York, John Williams, said on Tuesday that recovery from the Coronavirus (COVID-19) crisis has been better than expected, expecting the economy to return to its pre-pandemic levels in about three years. “We want to get back to maximum employment as soon as …

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