Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2021

• 22 October 2021 10:33 pm

  U.S. oil & gas rig weekly count falls to 542

  

  U.S. energy firms cut oil and natural gas rigs, Friday, for the first time in seven successive weeks even as oil prices rose to new seven year highs.The U.S. oil and gas rig count fell by 1 to 542 in the week to Oct. 22, energy services firm Baker Hughes …

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• 22 October 2021 9:55 pm

  Is housing still U. S. economy’s energizer?

  

  In terms of earnings, which became the language of the market since mid-October, investors in housing-related companies are positive. Shares of retail giants Home Depot (HD) and Lowe’s (LOW) are up 36% and 42% this year respectively and are trading at all time highs. The SPDR S&P Home builders (XHB) …

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• 22 October 2021 9:23 pm

  Whole capacity for gas from Russia to Europe is used

  

  Spokesperson of the German Ministry of Economy Beate Baron pointed out, Friday, that all the available capacities for natural gas supplies from Russia to Europe are used. “According to my data, pipeline capacities are used properly”, she said. “You need to check with market players how high capacities are”, Baron …

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• 22 October 2021 8:31 pm

  Powell expects inflation to continue in 2022

  

  Fed Chair Jerome Powell said Friday that elevated U.S. inflation readings are expected to last into next year and the central bank is watching the impeded risk that consumers start to experience because of the accelerated inflation.In a discussion sponsored by the central bank of South Africa, Powell admitted that …

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• 22 October 2021 8:09 pm

  Fed’s Powell: It’s time to start tapering, interest rate: not yet

  

  Jerome Powell, Chair of the Board of Governors of the Federal Reserve System, said on Friday that he thinks it is the time to start reducing asset purchases but added it’s not time to raise interest rates yet. Main Quotes:“Risks are clearly to longer, more persistent bottlenecks, and thus to …

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• 22 October 2021 7:17 pm

  PMI Output Index up in October despite delta

  

  U.S. CompositePurchasing Managers’ Index; PMI Output Index, which tracks the manufacturing and services sectors, has rebounded to a reading of 57.3 in the first half of October from 55.0 in September. A reading above 50 indicates growth in the private sector.The service sector of the U.S. economy has sped up …

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• 22 October 2021 6:29 pm

  Market Drivers – European Session 22-10-2021

  

  The S&P500 and Nasdaq were down at the opening session on Friday after chipmaker Intel warned of falling profit margins. Snap topped the losses among social media companies after reporting that digital ads had been affected by Apple’s privacy changes. The Dow Jones Industrial Average fell 4.64 points, or 0.01%, …

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• 22 October 2021 5:53 pm

  U.S: Markit Manufacturing PMI Edges Lower in August

  

  The economic activity in the US manufacturing sector continued to expand in October, albeit at a slightly slower pace than it did in September, with IHS Markit’s Manufacturing PMI declining to 59.2 (preliminary) from 60.7. This reading missed the market expectation of 60.3.

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• 22 October 2021 5:18 pm

  Canada: Retail Sales Rose in August

  

  Retail Sales in Canada rose by 2.1% on a monthly basis in August, the data published by Statistics Canada showed on Friday. This reading followed July’s contraction of 0.6% and came in slightly better than the market expectation for an increase of 2%.

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• 22 October 2021 4:37 pm

  The Turkish Lira Continues to Slide

  

  The Turkish lira is still recording a strong decline during trading and is heading towards the abyss, especially with the continued achievement of record low levels against the US dollar after the Turkish Central Bank’s decision to cut interest rates. During Friday’s trading, the dollar-lira exchange rate rose to the …

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• 22 October 2021 3:47 pm

  The Dollar is Heading For The Second Weekly Decline

  

  The dollar fell against its rival currencies and is heading towards recording the second weekly decline in a row, due to news that the debt-laden Chinese Evergrande Group avoided a default that supported the appetite for high-risk assets. Concerns about the real estate developer group, whose debt is equivalent to …

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• 22 October 2021 3:10 pm

  Gold Rises For The Fourth Consecutive Session

  

  The yellow metal rose for the fourth consecutive session, supported by the weakness of the dollar, while inflationary pressures boosted demand for the precious metal as a safe haven. Spot gold rose 0.5% to $1,790.91 an ounce. US gold futures rose 0.6% to $1,792. The dollar index is heading down …

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• 22 October 2021 2:20 pm

  Business Results Lead European Shares Higher

  

  European markets opened the session higher, as global sentiment was unexpectedly boosted by interest payments from debt-laden China’s Evergrande Group, while L’Oréal’s strong earnings and tech shares further supported it. The Stoxx 600 index of European shares rose 0.2%, while Asian shares rose after news that the Chinese real estate …

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