Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2021

• 26 October 2021 12:10 am

  Why is IFO Business Index for Germany Disappointing?

  

  The IFO Institute’s Business Climate index for Germany declined to 97.7 in September, which is significantly below expectations of a 98.2 result. The unexpected drop in business sentiment was the fact that the August reading for the index released in September was revised slightly upward to 98.9 from 98.8.This forex …

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• 25 October 2021 11:57 pm

  U. S. Shares continue surging on corporate earnings

  

  U.S. stocks rose as traders watch earnings reports from technology heavyweights including Facebook, while keeping in mind inflation-related concerns and rising Covid-19 risks. Energy and materials sectors are on the lead of the S&P 500 higher after the index whipsawed traders at the start of Monday’s U. S. session. PayPal …

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• 25 October 2021 10:59 pm

  MagnaChip semiconductor shares surge backed by revenues

  

  Shares of South Korean semiconductor manufacturer MagnaChip Semiconductor jumped out of the gate Monday and are up 4.3% after the company crushed its Q3 earnings report versus $0.22 per share on $126.9 million in sales.As financial statements were announced, the company reached that sales target, booking $127 million in revenue. …

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• 25 October 2021 10:40 pm

  Fed member: U. S. community banks under threat

  

  Regulation and low profits pose threats to the U. S. community banking sector according to Michelle Bowman; member of the Federal Reserve Board.Speaking to a community bankers’ symposium at the Federal Reserve Bank of Chicago, Bowman noted that only 44 new banks had been chartered in the last decade.Bowman said …

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• 25 October 2021 10:24 pm

  Tesla hits $1 trillion in market value

  

  Tesla shares surged Monday, briefly lifting the electric carmaker’s market value above $1 trillion, as investors shrugged off criticism from a U. S. safety official of the fast growing organization.Near 1700 GMT, shares of Tesla were up almost nine percent at $990.95, giving it a market capitalization of just under …

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• 25 October 2021 9:49 pm

  Investors in test of courage with BoC over surging inflation

  

  Canada’s hot wave of inflation and the recovering labour market are accelerating pressure on the Bank of Canada to hike interest rates ahead of schedule. Investors are eyeing a fiscal policy announcement this week for clues that the central bank is turning more hawkish. Led by Governor Tiff Macklem, the …

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• 25 October 2021 9:17 pm

  Bitcoin Update: Crypto fund inflows hit record

  

  Coinciding with Bitcoin’s surge to an all time high of $66,974, investors pumped a record $1.47 billion of new money into digital asset investment products, pushed by bloom of cryptocurrencies and the launch of the first bitcoin futures exchange-traded fund, according to report issued Monday by CoinShares.Bitcoin-focused funds dominated last …

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• 25 October 2021 8:58 pm

  Natural gas futures reenergized by weekend cold shift

  

  A major colder shift from normal weather over the weekend pushed natural gas futures in early trading Monday. The November delivery Nymex contract was up 35.7 cents to $5.637/MMBtu.Investors observed colder changes to the temperature for the eastern half of the America both for the current week and next week, …

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• 25 October 2021 8:06 pm

  BoE’s Tenreyro: More time needed to think about rate hike

  

  Bank of England interest rate-setter Silvana Tenreyro said she needs more time to judge how the end of the government’s job-saving plan impacts the labour market, adding to signs that she sees no urgency to raise rates.Uncertainty over the effects of the unpaid leave plan should be resolved over the …

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• 25 October 2021 7:58 pm

  GCC’s fiscal scene improves with current oil prices

  

  Resurgent oil prices are causing a noticeable improvement in Gulf Cooperation Council fiscal and external balances in 2021, in addition to reform momentum that has taken hold to varying degrees since 2014 in response to oil price volatility, Fitch Ratings says.Fitch’s scenario analysis estimates that GCC budgets, except in Bahrain, …

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• 25 October 2021 7:36 pm

  Germans astonished by seized Bitcoin auctioned at a discount

  

  Prosecutors in Germany are required, pursuant to the law, to put seized items such as bitcoin up for auction. An online auction of seized bitcoin that was initially priced at a discount aroused astonishment in Germany. The minimum bid was set at 42,400 Euros, below bitcoin’s recent price above $63,000. …

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• 25 October 2021 7:09 pm

  Nigerian president launches eNaira cryptocurrency

  

  On Monday, Nigerian President Muhammadu Buhari officially introduced the country’s central bank digital currency; the eNaira.The Central Bank of Nigeria published a document in which it reaffirmed its intention to introduce the eNaira after previously attempting but failing to do so on 1 OctoberAccording to the design paper for the …

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• 25 October 2021 6:55 pm

  US Major Indexes Give Back Modest Gains

  

  US major equity indexes opened the new trading week on a calm note near last week’s closing levels. The S&P 500 index was up 10 points to 4,542, almost unchanged on the day after giving up modest gains recorded after the opening bell on Monday. The Dow Jones Industrial Average …

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