Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2021

• 14 October 2021 8:37 pm

  Local investors could steer the Turkish Lira’s destiny

  

  The Turkish lira is at its worst, as local investors could start to turn away from it, which would further its decline that has pushed the currency to consecutive record lows over the past month.So far, domestic investors have sold more than $5 billion of their foreign currency deposits in …

  Read More »
• 14 October 2021 7:50 pm

  IEA: Energy crisis threatens global recovery

  

  A global energy crunch is expected to boost oil demand by 500,000 barrels per day and could stoke inflation and slow the world’s recovery from the COVID-19 pandemic, the International Energy Agency warned on Thursday.Oil and natural gas prices have soared to multi-year highs recently, sending power prices surging to …

  Read More »
• 14 October 2021 7:35 pm

  Concerns on oil prices eased by EIA data

  

  Crude oil prices slid lower Thursday after the Energy Information Administration reported a crude oil inventory build of 6.1 million barrels for the week to October 8.Gasoline inventory builds have also failed to put a lid on prices at the pump in the past couple of weeks. For last week, …

  Read More »
• 14 October 2021 7:04 pm

  Chinese coal price higher amid inflation

  

  Current coal prices have recorded 1,500 Yuan per tonne. Soaring energy prices sent producer prices to their highest in at least 25 years in September, rising by 10.7% from a year earlier according to official data released on Thursday and Cold winter weather is likely to push coal prices higher.Daily …

  Read More »
• 14 October 2021 6:16 pm

  Market Drivers – European Session 14-10-2021

  

  During the European trading session today, the market held a similar tone to its trajectory yesterday, as stocks are recovering modestly after the setback that occurred in the trading stages this week. European indices maintained their gains, while US futures pointed to solid gains as bond yields continued to decline, …

  Read More »
• 14 October 2021 5:27 pm

  Canada: Manufacturing Sales Rise in August

  

  Manufacturing Sales in Canada increased by 0.5% on a monthly basis in August to C$60.3 billion, the data published by Statistics Canada showed on Thursday. This reading followed July’s decrease of 1.2% and came in line with the market estimates.

  Read More »
• 14 October 2021 4:50 pm

  Weekly Initial Jobless Claims Decline to 293K

  

  There were 293,000 initial claims for unemployment benefits in the US during the week ending October 9, the data published by the US Department of Labor (DOL) showed on Thursday. This reading followed the previous print of 329,000 (revised from 326,000) and came in better than the market expectation of …

  Read More »
• 14 October 2021 3:47 pm

  Oil Prices Rise on Thursday as US Inventories Fall

  

  Oil prices rose on Thursday, reversing earlier losses, as larger-than-expected drawdowns in US gasoline and distillate inventories prompted buying, and the rally was also supported by expectations that higher natural gas prices as winter approaches will shift to oil to meet heating demand. Brent crude futures rose 67 cents, or …

  Read More »
• 14 October 2021 3:19 pm

  Gold Rises to Its Highest Level in a Month

  

  Gold price is posting strong gains in midday U.S. trading Wednesday, hitting 4 week highs. Buy stop orders were hit in the futures markets after key technical resistance levels were penetrated on the upside.A selloff in the U.S. dollar index today also worked in favor of the precious metal market …

  Read More »
• 14 October 2021 2:51 pm

  German Economy Ministry: Significant GDP Increase is Likely in Q3

  

  The German Economy Ministry said in its latest report that it expects a significant increase in the gross domestic product in the third quarter of this year, thanks to growth in the service sector. “Separately, the German economic institutes cut the 2021 growth forecast to 2.4% from the 3.7% previous …

  Read More »
• 14 October 2021 2:26 pm

  The Dollar Falls to Its Lowest Level in 9 Days

  The dollar hit a 9-day low against major currencies, reversing its recent rally, while the British pound, Australian, and New Zealand dollars advanced. The dollar rose in September and since the beginning of October on expectations that the US central bank will tighten monetary policy faster than expected, but it …

  Read More »
• 14 October 2021 1:27 pm

  Japanese Stocks Rise, Following The Rise of The Nasdaq

  

  Japanese shares rose at the close on Thursday, led by technology shares that followed the Nasdaq market’s gains, with Tokyo Electron, the largest source of the Nikkei’s rise. The Nikkei index rose 1.46 percent to close at 28,550.93 points, after falling for two consecutive sessions. The broader Topix index rose …

  Read More »
• 14 October 2021 12:51 pm

  Market Drivers – Asian Session 14/10/2021

  

  The Nikkei 225 rose 1.46% to close at 28,551. The broader TOPIX index rose 0.67% on Thursday, as Japanese technology heavyweights carried the index higher and following dovish comments from a BoJ board member. Australian Bureau of Statistics data revealed that the labor market recorded a mixed performance during September, …

  Read More »