Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2021

• 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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• 22 October 2021 1:39 pm

  Eurozone Preliminary Manufacturing PMI Beats Estimates 58.5 in October

  

  The Eurozone manufacturing sector activity improved in the reported month, the latest manufacturing activity survey from IHS/Markit research showed on Friday. The Eurozone Manufacturing purchasing managers index (PMI) arrived at 58.5 in October vs. 57.0 expectations and 58.6 prior. The index hit eight-month lows. The bloc’s Services PMI dropped to …

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• 22 October 2021 12:59 pm

  Market Drivers – Asian Session 22-10-2021

  

  On Friday, risk appetite returned to Asia after China’s Evergrande paid about $83.5 million in bond interest, Reuters reports citing China’s Securities Times. Reuters reported that the debt-laden Chinese real estate developer paid the amount on Thursday, October 21. Evergrande transferred the money to a trust account to pay the …

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• 22 October 2021 12:28 pm

  German Preliminary Manufacturing PMI Improves in October

  

  The German manufacturing sector expanded in October, the preliminary manufacturing activity report from IHS/Markit research showed this Friday. The Manufacturing PMI in Eurozone’s no.1 economy came in at 58.2 this month vs. 56.5 expected and 58.4 previous. The index reached its lowest in nine months. Services PMI dropped to six-month …

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• 22 October 2021 3:36 am

  Market Drivers – U. S. Session 21-10-2021

  

  From Europe to the United States, market drivers ranged from unemployment, inflation-related concerns, earnings and alarming losses to inventories of energy, particularly natural gas. The USD managed to stop its Wednesday’s downtrend to advance anew on Thursday.   Risk turned off on Thursday leading the USD to reap the most …

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• 22 October 2021 3:10 am

  Higher earnings continue to make the trend and impact markets

  

  Corporate earnings for Q3 continue to impact the performance of financial markets as well as the reactions of investors and traders. Higher than expected earnings have become the common trend on the market scene, this October, despite supply chain difficulties and cost issues.TeslaTesla posted Q3 profits that topped expectations, with …

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