Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2020

• 8 October 2020 1:42 am

  Gold Maintains Losing Streak

  

  Gold prices closed lower on Wednesday, falling to its lowest level in more than a week. Gold futures for December delivery fell by $18, or 0.9%, and finished at the level of $1,890.80 per ounce, its lowest since September 28. Meanwhile, silver futures for December delivery declined by 2 cents, …

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• 7 October 2020 11:48 pm

  Fed Minutes Show Stimulus Worries

  

  The latest United States Federal Reserve’s Federal Open Market Committee (FOMC) meeting minutes showed on Wednesday that monetary policymakers are concerned about the absence of another stimulus package, with fears that this could downplay the economic recovery. However, recovery was seen moving faster than expected, according to the minutes of …

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• 7 October 2020 10:29 pm

  Fed Needs to Cut Rates or Raise Purchases

  

  The United States Federal Reserve is facing one of two tough choices, to either cut interest rates or increase asset purchases, according to new research by the Fed’s economist Michael Kiley, Bloomberg reported. President of the Federal Reserve Bank of Cleveland, Loretta Mester, is the only member of the Fed’s …

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• 7 October 2020 10:01 pm

  European Stocks Close Lower Amid Uncertainty

  

  European stocks declined on Wednesday, on the back of uncertainty as Trump instructed the cancellation of new stimulus package in the United States, while in Europe the outlook for COVID-19 remains concerning with fears of the second wave. The pan-European STOXX 600 index closed lower by 0.12% at 365.45 points. …

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• 7 October 2020 7:05 pm

  US Oil Inventories Decline in Week

  

  Crude oil inventories in the United States increased for the first time in a month, rising by 500,000 barrels last week, according to data by the US Energy Information Administration (EIA) on Wednesday. This comes following three consecutive weekly declines of US oil stockpiles. Meanwhile, gasoline inventories decreased by 1.4 …

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• 7 October 2020 6:36 pm

  Canadian Ivey PMI Retreats in September

  

  Canada’s Ivey Purchasing Managers Index (PMI) declined in September to a seasonally adjusted reading of 54.3, compared with 67.8 in August. However, the index rose on an annual basis, compared with its level in September 2019 at 48.7, according to data by the Richard Ivey School of Business at Western …

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• 7 October 2020 6:12 pm

  Record Low For Turkish Lira Due to Geopolitical Concerns

  

  The Turkish lira hit a record low against the dollar on Wednesday, influenced by investor concerns about possible US sanctions, strained relations with the European Union and the ongoing conflict in the Caucasus. The currency has lost 24% of its value this year due to concerns about dwindling foreign exchange …

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• 7 October 2020 5:38 pm

  Dollar Stabilizes as Anger Over Trump’s Stimulus Stance Dissipates

  

  The dollar held steady on Wednesday as it tipped lower against most currencies after initially jumping after President Donald Trump canceled talks on economic stimulus with Democratic lawmakers in a move boosting demand for safe-haven assets. Trump’s sudden decision to suspend stimulus talks until after the Nov. 3 presidential election …

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• 7 October 2020 4:57 pm

  Japanese Economy Stopped Shrinking in August

  

  The Japanese government updated its economic assessment on Wednesday for the first time since May 2019, after an important indicator improved in August, indicating a gradual recovery from the impact of the coronavirus pandemic. The Cabinet Office said on Wednesday that the Synchronous Economic Indicators Index, which measures a data …

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• 7 October 2020 3:56 pm

  Home Prices in Britain Increased at The Fastest Annual Pace Since 2016

  

  British home prices increased last month at the fastest annual pace since June 2016, data from the Halifax Mortgage Company showed on Wednesday, the latest sign of a housing market rally following the lifting of lockdown measures linked to the coronavirus pandemic. Home prices rose 7.3% compared to September last …

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• 7 October 2020 2:54 pm

  API: Crude Stocks Rose And Gasoline Fell Last Week

  

  Data from the American Petroleum Institute showed that US inventories of crude oil rose last week, while gasoline and distillate stocks declined. Crude inventories increased by 951 thousand barrels over the week ending on October 2 to about 495.4 million barrels, while analysts’ expectations indicated an increase of 294 thousand …

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• 7 October 2020 2:01 pm

  Oil is Declining With the Faltering US Stimulus Talks

  

  Oil prices fell on Wednesday after US President Donald Trump dampened hopes for a fourth stimulus package to support the economy affected by the Coronavirus pandemic, in addition to an more than expected increase in US crude stocks. US West Texas Intermediate crude futures were down 42 cents, or 1 …

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• 7 October 2020 12:36 pm

  European Shares Rise After Strong Results Overshadowed Doubts About US Stimulus

  

  European stocks rose on Wednesday after reports of optimistic results from British Tesco and the German Dialog Semiconductor helped reduce the impact of uncertainties surrounding a new US stimulus program. The pan-European STOXX 600 index rose 0.2%. Asian stocks and US equity futures also recovered from sharp losses on Wall …

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