Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2021

• 7 October 2021 11:00 pm

  Tiff Macklem warns of pressures from stimulus withdrawal

  

  Bank of Canada Governor, Tiff Macklem, said Thursday that Canada’s high inflation rate is largely related to the unique circumstances of the Covid-19 pandemic, although there is a risk it could be more persistent than policy makers had expected.Speaking virtually before the Council on Foreign Relations, in Washington, Macklem said …

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• 7 October 2021 10:46 pm

  Lane: ECB is far from inflation red zone

  

  European Central Bank Chief Economist Philip Lane pushed back against warnings over accelerating inflation, saying there’s “very solid evidence” to believe that the current spike won’t last. “The red zone for everyone is if inflation became persistent at a number that’s immoderately above the inflation target,” Lane said on Thursday.“That’s …

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• 7 October 2021 9:53 pm

  Senate rushes to $480 billion debt limit top-up

  

  The U.S. Senate on Thursday took a step to pass a $480 billion increase in Treasury Department borrowing authority, a move that would turn aside a catastrophic debt default later this month but setting the scene for another potential showdown in December.That vote, expected Saturday, could come sooner if all …

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• 7 October 2021 9:32 pm

  U. S. stocks surge as concerns over debt ceiling ease

  

  All 11 major S&P 500 sectors have risen including Dow Jones by 1.49%, S&P by 1.41%, and Nasdaq 1.68%.U.S. stocks climbed on Thursday led by technology stocks, after a temporary bipartisan truce in the debt ceiling deadlock relieving concerns of a possible government debt default.The compromise has contributed an ease …

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• 7 October 2021 9:14 pm

  US senators agree to extend debt ceiling to avoid default

  

  U. S. Senators have agreed to extend the debt ceiling, less than two weeks before it was due to be reached. There were fears that the U. S. would default on its national debt, with catastrophic financial implications.Senate Majority leader Chuck Schumer said Congress had reached a deal to extend …

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• 7 October 2021 9:04 pm

  Vicious circle of debt biggest problem ahead U. S. economy

  

  U. S. Treasury Secretary Janet Yellen warned U. S. lawmakers that the federal government may run out of cash by 18 October, unless the US Congress suspends debt limits. Some politicians speculated that one potential way out is to mint a $1 trillion platinum coin and then deposit it with …

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• 7 October 2021 8:46 pm

  EIA’s Weekly Natural Gas Storage Report Released

  

  Working gas in storage was 3,288 Bcf as of Friday, October 1, 2021, according to EIA estimates. This represents a net increase of 118 Bcf from the previous week. Stocks were 532 Bcf less than last year at this time and 176 Bcf below the five year average of 3,464 …

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• 7 October 2021 8:32 pm

  Senate rushes to $480 billion debt limit top-up

  

  The U.S. Senate on Thursday took a step to pass a $480 billion increase in Treasury Department borrowing authority, a move that would turn aside a catastrophic debt default later this month but setting the scene for another potential showdown in December.That vote, expected Saturday, could come sooner if all …

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• 7 October 2021 8:04 pm

  U.S. jobless claims sink 38,000 signaling improved labor market

  

  326,000 people who recently lost their jobs applied for unemployment benefits in early October, marking the first decline in a month signaling improvement in the U.S. labor market. The U. S. dollar hardly moved against a basket of currencies on Thursday, as investors await the release of U.S. labor market …

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• 7 October 2021 7:41 pm

  U. S. unemployment claims fall after a month

  

  4.2 million Americans still receive benefits. New jobless claims have fallen for the first time in nearly one month, according to new data released Thursday, offering some break to the U. S. economy after previous worrisome data.About 326,000 people filed initial jobless claims in the week ending on 2 October …

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• 7 October 2021 6:10 pm

  US September Nonfarm Payrolls Preview

  

  The US Bureau of Labor Statistics will release the September jobs report on October 8. Following a disappointing increase of 235,000 in August, investors expect Nonfarm Payrolls to rebound and rise by 488,000 in September.  Will the US nonfarm payrolls report be the green signal for the Federal Reserve to …

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• 7 October 2021 4:54 pm

  US: Weekly Initial Jobless Claims Decline to 326K

  

  There were 326,000 initial claims for unemployment benefits in the US during the week ending October 2, the data published by the US Department of Labor (DOL) revealed on Thursday. experts’ estimates agreed that US unemployment claims are expected to reach 348,000, and these numbers are positive. Yesterday, the ADP …

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• 7 October 2021 4:19 pm

  EUR/GBP Seems Vulnerable Below 0.8500

  

  The EUR/GBP fell to its lowest level in nearly two months during European trade, with analysts looking to extend the decline below the key psychological level of 0.8500. The pair maintained its bid tone on Thursday and is poised to extend the slide to the 200-day SMA above mid-0.8600 and …

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