Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2021

• 11 October 2021 10:10 pm

  White House stands by calls for OPEC+ to do more on oil prices

  

  The U. S. supports calls for OPEC+ to do more to manage the economic recovery worldwide, a White House official said on Monday, as crude prices hit multi-year peaks. The official noted that Biden’s administration is closely monitoring the cost of oil and gasoline and using every tool to address …

  Read More »
• 11 October 2021 9:35 pm

  U. S. stocks rise on Big Tech strength

  

  U.S. stock indexes rose on Monday as growth and financial stocks gained, shrugging off inflation concerns in the run up to third-quarter earnings reports from later this week.The S&P 500 financial sector index rose 0.7%, while banks added 0.6% ahead of earnings reports from JPMorgan Chase & Co and Bank …

  Read More »
• 11 October 2021 9:09 pm

  Cautions raised on Facebook’s move into finance

  

  Agustín Carstens, general manager for the Bank of International Settlements (BIS) warned of Big Tech’s increasing reach into financial servicesCarstens said that Big Tech needs monitoring as it broadens its scope of services into credit and beyond. He added that Facebook’s Diem, in particular, needs scrutiny.Carstens delivered his remarks as …

  Read More »
• 11 October 2021 8:20 pm

  AUD/USD jumps to new highs at 0.7370

  

  The Australian dollar has rallied about 0.9% so far today and is on track to close its best daily performance over the last months. The pair accelerated its uptrend, after breaking above the 0.7330 resistance area, to reach 0.7370 for the first time since mid-September.Australian dollar’s appreciation has been underpinned …

  Read More »
• 11 October 2021 7:52 pm

  ECB’s Lane: One-Off Wage Rise Not Sign of Sustained Inflation

  

  A one-off shift in workers’ pay in response to recent price spikes wouldn’t be a sign of sustainably higher inflation, European Central Bank Chief Economist Philip Lane said.“Differentiating between transitory and persistent shifts in the growth rate of wages” will play an important role in assessing the progress of underlying …

  Read More »
• 11 October 2021 4:35 pm

  Crude Oil Rise on China’s Energy Crisis

  

  Crude oil prices have risen to their highest levels in seven years as domestic supply shortages in a number of pockets of the global energy market are intensified by investors seeking protection from “stagflation” by betting on prices that are still higher. Net speculative long positions in crude oil rose …

  Read More »
• 11 October 2021 3:47 pm

  Gold Fell on Tapering Expectations

  

  Gold fell in Monday morning trading in Asia, as the US Federal Reserve is expected to start reducing asset purchases on schedule despite the disappointing data in the latest US jobs report. Gold futures were also down 0.14% at $1,754.95 by 12:14 AM ET, with the yellow metal hitting a …

  Read More »
• 11 October 2021 2:31 pm

  The Dollar Hits Its Highest Level Against The Yen in Nearly 3 Years

  

  The dollar rose to its highest level in nearly three years against the yen on Monday as investors remained confident that the Federal Reserve would announce a reduction in its massive bond purchases next month. Friday’s jobs data pushed up US bond yields and subsequently lowered the yen, which is …

  Read More »
• 11 October 2021 1:38 pm

  Saudi Aramco Asked Banks For $12-14 bln Gas Pipeline Loan – Reuters

  

  Sources told Reuters that Saudi Aramco is currently asking banks to arrange a loan between 12 and 14 billion dollars, which it plans to provide to buyers of its gas pipelines. Reuters reported in August that companies that have been in talks for Aramco’s gas pipeline assets include Global Infrastructure …

  Read More »
• 11 October 2021 1:10 pm

  Nikkei Rises For Third Day on Weak Yen

  

  Japan’s Nikkei rose for a third straight session Monday, October 11, extending recovery from last week’s six-week low, as a sharp drop in the yen boosted exporters while a drop in COVID-19 infections revived hopes of reopening the economy. The index closed up 1.60% to 28,498.20 points, advancing more than …

  Read More »
• 11 October 2021 12:36 pm

  A new drug from AstraZeneca against Corona passes the last stage of trials

  

  AstraZeneca Inc said on Monday that its antibody-mixture drug, the first protective dose other than vaccines against Covid-19, has achieved its main goals in last-stage trials by helping reduce severe cases of Covid-19 infection or death

  Read More »
• 10 October 2021 10:28 pm

  Weekly Recap 4-8 Oct

  

  The NFP report, Friday, crowned all market related news given its impact on the U. S. Fed’s tapering and consequently its impact on the U. S. economy and currency.The Dow Jones Industrial Average hovered around the flatline but finished a volatile week with its strongest gains since June. Volatility returned …

  Read More »
• 9 October 2021 3:12 am

  BoE: inflation could trigger global selloff, harm UK

  

  The Bank of England has warned that rising inflation could trigger a selloff in global financial markets, with a damaging impact on the UK economy.BoE expects inflation will rise above 4% this winter, and will remain elevated until at least the summer of 2022 before gradually falling back towards its …

  Read More »