Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2021

• 26 October 2021 3:02 am

  Will Evergrande become an electric carmaker?

  

  China’s Evergrande is starting to pay its overdue debt and restart some of its stalled real estate projects, but it is signaling that it wants to move away from housing and focus on building electric vehicles.According to Chinese state media, Chairman Xu Jiayin announced that the firm wants to make …

  Read More »
• 26 October 2021 1:54 am

  Gold prices rise as bond yields retreat

  

  Gold prices rose about 1% on Monday, as a retreat in U.S. bond yields and persisting worries about inflation lifted the safe-haven asset ahead of major central bank meetings this week.The U. S. dollar rebounded and closed up on the day, but that failed to impact the rally in the …

  Read More »
• 26 October 2021 1:35 am

  EUR/USD retreats on Eurozone economy expectations

  

  The EUR/USD has been trading on a bullish trend throughout the last two weeks, with an increase from 1.1520s to 1.1660s, although this climb was more of a reaction of the larger downtrend, and it seems to have ended now.The US economy is speeding up again, as it enters another …

  Read More »
• 26 October 2021 12:10 am

  Why is IFO Business Index for Germany Disappointing?

  

  The IFO Institute’s Business Climate index for Germany declined to 97.7 in September, which is significantly below expectations of a 98.2 result. The unexpected drop in business sentiment was the fact that the August reading for the index released in September was revised slightly upward to 98.9 from 98.8.This forex …

  Read More »
• 25 October 2021 11:57 pm

  U. S. Shares continue surging on corporate earnings

  

  U.S. stocks rose as traders watch earnings reports from technology heavyweights including Facebook, while keeping in mind inflation-related concerns and rising Covid-19 risks. Energy and materials sectors are on the lead of the S&P 500 higher after the index whipsawed traders at the start of Monday’s U. S. session. PayPal …

  Read More »
• 25 October 2021 10:59 pm

  MagnaChip semiconductor shares surge backed by revenues

  

  Shares of South Korean semiconductor manufacturer MagnaChip Semiconductor jumped out of the gate Monday and are up 4.3% after the company crushed its Q3 earnings report versus $0.22 per share on $126.9 million in sales.As financial statements were announced, the company reached that sales target, booking $127 million in revenue. …

  Read More »
• 25 October 2021 10:40 pm

  Fed member: U. S. community banks under threat

  

  Regulation and low profits pose threats to the U. S. community banking sector according to Michelle Bowman; member of the Federal Reserve Board.Speaking to a community bankers’ symposium at the Federal Reserve Bank of Chicago, Bowman noted that only 44 new banks had been chartered in the last decade.Bowman said …

  Read More »
• 25 October 2021 10:24 pm

  Tesla hits $1 trillion in market value

  

  Tesla shares surged Monday, briefly lifting the electric carmaker’s market value above $1 trillion, as investors shrugged off criticism from a U. S. safety official of the fast growing organization.Near 1700 GMT, shares of Tesla were up almost nine percent at $990.95, giving it a market capitalization of just under …

  Read More »
• 25 October 2021 9:49 pm

  Investors in test of courage with BoC over surging inflation

  

  Canada’s hot wave of inflation and the recovering labour market are accelerating pressure on the Bank of Canada to hike interest rates ahead of schedule. Investors are eyeing a fiscal policy announcement this week for clues that the central bank is turning more hawkish. Led by Governor Tiff Macklem, the …

  Read More »
• 25 October 2021 9:17 pm

  Bitcoin Update: Crypto fund inflows hit record

  

  Coinciding with Bitcoin’s surge to an all time high of $66,974, investors pumped a record $1.47 billion of new money into digital asset investment products, pushed by bloom of cryptocurrencies and the launch of the first bitcoin futures exchange-traded fund, according to report issued Monday by CoinShares.Bitcoin-focused funds dominated last …

  Read More »
• 25 October 2021 8:58 pm

  Natural gas futures reenergized by weekend cold shift

  

  A major colder shift from normal weather over the weekend pushed natural gas futures in early trading Monday. The November delivery Nymex contract was up 35.7 cents to $5.637/MMBtu.Investors observed colder changes to the temperature for the eastern half of the America both for the current week and next week, …

  Read More »
• 25 October 2021 8:06 pm

  BoE’s Tenreyro: More time needed to think about rate hike

  

  Bank of England interest rate-setter Silvana Tenreyro said she needs more time to judge how the end of the government’s job-saving plan impacts the labour market, adding to signs that she sees no urgency to raise rates.Uncertainty over the effects of the unpaid leave plan should be resolved over the …

  Read More »
• 25 October 2021 7:58 pm

  GCC’s fiscal scene improves with current oil prices

  

  Resurgent oil prices are causing a noticeable improvement in Gulf Cooperation Council fiscal and external balances in 2021, in addition to reform momentum that has taken hold to varying degrees since 2014 in response to oil price volatility, Fitch Ratings says.Fitch’s scenario analysis estimates that GCC budgets, except in Bahrain, …

  Read More »