Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2021

• 6 October 2021 12:42 am

  Bitcoin rebounds to $50,000 over BofA’s positive recommendations

  

  Crypto prices are still climbing despite tougher regulatory scrutiny round the world. The rally brings prices to the highest since early September. Bitcoin has jumped to around $50,000 as Bank of America Corp. strategists threw their weight behind cryptocurrencies as a new asset class. Bitcoin price has shifted into a …

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• 5 October 2021 11:55 pm

  Asian stocks fall over oil and inflation concerns

  

  Asian shares tracked a broad selloff on Wall Street to weaken for a third successive session on Tuesday, as investors expressed concerns on oil prices hitting multi year highs which could add to inflationary pressures caused by supply chain disruptions.U.S. and European stock futures edged up, with S&P 500 e-minis …

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• 5 October 2021 11:10 pm

  Stocks rise as tech shares recover loss

  

  Stocks progressed on Tuesday as technology stocks recouped some losses, when a rotation away from growth names picked up steam as concerns over inflation lingered. The Nasdaq gained more than 1% after the index dropped over 2% a day earlier. Both the S&P 500 and Dow each also gained over …

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• 5 October 2021 10:18 pm

  Ahead of RBNZ, NZD/USD struggles to find direction

  

  The NZD/USD pair is fluctuating in a relatively tight range on Tuesday. The Reserve Bank of New Zealand is expected to hike its fiscal policy rate by 25 basis points on Wednesday. Meanwhile, the U. S. Dollar Index has clinged to modest daily gains, and stayed below 94.00. The NZD/USD …

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• 5 October 2021 10:07 pm

  USD/CHF trims loss and approaches 0.9300

  

  The USD/CHF pair has remained biased higher on the long term. The US dollar has regained lost ground on Tuesday, following three successive days in the red area, after bouncing at 0.9225 lows and return to levels near 0.9300.The safe-haven Swiss Franc has lost ground due to a moderate risk …

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• 5 October 2021 9:37 pm

  Senator: Powell Failed as Fed Leader

  

  Senator Elizabeth Warren said revelations about investment transactions last year by Federal Reserve officials calls into question Jerome Powell’s leadership of the U.S. central bank.“For Fed officials to actively trade in the market raises legitimate questions about conflicts of interest and insider trading,” the Massachusetts Democrat said Tuesday during a …

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• 5 October 2021 9:20 pm

  Lagarde: ECB to zoom in on inflation expectations

  

  The European Central Bank is closely watching inflation expectations and wage developments as predicting the length of disruptions caused the economy’s post-pandemic reopening is difficult, ECB President Christine Lagarde said. “We should not overreact to supply shortages or rising energy prices, as our monetary policy cannot directly affect those phenomena”, …

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• 5 October 2021 8:29 pm

  EUR/USD retreats back to the 1.1600 ahead of Lagarde’s speech

  

  The EUR/USD pair has reversed part of recent gains and returned to 1.1600. Sellers returned to the market and forced EUR/USD to abandon the area of recent highs and refocus once again on the 1.1600 hereabouts.After two successive daily pullbacks, the EUR/USD pair now trades on the defensive and hovers …

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• 5 October 2021 7:48 pm

  After Norway, Will New Zealand’s Fed be second to effect hike rates?

  

  New Zealand’s dollar declined 0.34% to $0.6939, away from a four day peak at $0.6981.The Reserve Bank of New Zealand will decide on the state’s fiscal policy on Wednesday, with markets expecting a quarter point rate hike. With markets already pricing a rate hike cycle, the likelihood of material NZD …

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• 5 October 2021 7:23 pm

  U. S. Poll Shows Economic Optimism declines

  

  The IBD/TIPP Economic Optimism Index, a pioneering national poll on consumer confidence, declined for the fourth consecutive month. The October index fell another 3.6% after September’s 9.5% drop, moving from 48.5 last month to 46.8 this month, and remained in the negative territory for the second successive month.For the IBD/TIPP …

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• 5 October 2021 7:05 pm

  Supply concerns lead Europe’s gas to a record surge

  

  Natural gas contracts have hit new highs in Europe on Tuesday, as soaring prices continue to put pressure on the continent’s energy sector ahead of winter months.November delivery contracts at the Dutch TTF hub, a European benchmark for natural gas, were trading at around 118 Euros per megawatt hour just …

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• 5 October 2021 6:12 pm

  U.S: Markit Services PMI edges lower to 54.9

  

  The business activity in the US service sector continued to expand in September albeit at a softer pace than it did in August with IHS Markit’s Services PMI retreating to 54.9 (final) from 55.1 in August. Nevertheless, this reading came in higher than the advanced estimate and the market expectation …

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• 5 October 2021 6:10 pm

  Canada: International trade surplus widens to C$1.94B

  

  Canada’s merchandise trade surplus with the world widened to C$1.94 billion in August from C$736 million in July, the monthly data published by Statistics Canada revealed on Tuesday. This reading beat the market expectation for a surplus of C$0.35 billion by a wide margin.

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