Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2021

• 4 October 2021 11:14 pm

  NZD/USD maintains positive tone

  

  The reversal of New Zealand’s dollar from 0.0.6980 high has found support at 0.6955.The NZD/USD pair was able to maintain its near-term positive tone amid broad-based USD weakness. Therefore, the NZD/USD remains close to 0.7000 resistance area.The New Zealand dollar’s rejection at the 0.7000 area, seen during Monday’s earlier US …

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• 4 October 2021 10:54 pm

  Australia’s business confidence first increase since May

  

  The Business Confidence Index in Australia has increased for the first time since May.The Index’s report cites following the outlining of re-opening plans in September in both NSW and Victoria, business confidence data gained +3.1% m/m to 104.6 on Monday, and +22.2% y/y. Business confidence in September 2021 was 9.2pts …

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• 4 October 2021 10:36 pm

  Could Evergrande trigger a global economic infection?

  

  The massive Chinese real estate company Evergrande is unable to pay its debts. This crisis has ignited some rare protests in China and is raising concerns all over the international financial markets.A key question now is whether or not the government of China will let Evergrande collapse and whether or …

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• 4 October 2021 9:53 pm

  Oil leaps as OPEC+ stick to production policy

  

  Oil prices on Monday hit seven-year high after OPEC+ opted to adopt their gradual approach to restoring output slashed during the pandemic, agreeing to add only 400,000 barrels per day in November. Crude prices jumped by three per cent, or $2.32, to $78.17 on the New York Mercantile Exchange, the …

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• 4 October 2021 9:19 pm

  Facebook Inc’s Apps go down for millions of users in widespread outrage

  

  Facebook, Instagram, WhatsApp and a handful of other apps suddenly crashed Monday afternoon, turning up error messages to its millions of users around the world. All of the apps that went down are owned by Facebook. The major outage comes as Facebook finds itself in hot water over its role …

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• 4 October 2021 9:11 pm

  Wall Street retreats by Big Tech rotation

  

  Wall Street’s main indexes fell on Monday as investors shifted interest in technology shares in the face of rising Treasury yields, while new concerns over trade erupted on U.S.-China trade relations providing another reason for caution.U.S. Treasury yields have been supported by recent data showing increased consumer spending, accelerated factory …

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• 4 October 2021 8:54 pm

  Japan’s new PM seeks new mandate to handle recovery

  

  Newly elected Japanese Prime Minister Fumio Kishida said Monday he will dissolve the lower house next week in preparation for 31 October elections as he seeks a fresh mandate to deal with the coronavirus pandemic, the sagging economy and security threats from China and North Korea. Kishida was formally elected …

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• 4 October 2021 8:08 pm

  U.S. factory orders reaped new gains in August

  

  New orders for U.S. made goods accelerated in August, signaling sustained strength in manufacturing even though economic growth appeared to have slowed during the third quarter of 2021 because of shortages of raw materials and labor.“Factory orders increased 1.2% in August. Data for July was revised higher to show orders …

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• 4 October 2021 7:30 pm

  Canada’s building permits fell 2.1% in August

  

  Canada’s building permits fell by 2.1% in August, driven by a significant drop in residential construction intentions in Ontario and British Columbia.The total value of building permits in August declined 2.1% on a month over month basis to a seasonally adjusted 9.66 billion Canadian dollars, or the equivalent of $7.64. …

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• 4 October 2021 7:22 pm

  Canadian dollar climbs to 4 week high as oil jumps

  

  The Canadian dollar strengthens 0.7% against the U. S. counterpart. The Canadian currency has touched its strongest level since 7 September 1.2561 as U.S. oil price has climbed by 3% and the Canadian bond yields rise across a steeper curve. The Canadian dollar on Monday strengthened to its highest level …

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• 4 October 2021 5:22 pm

  The Dow Jones Down More Than 100 Points in Pre-Opening Trading

  

  US stock futures fell on Monday as investors prepared for the first full week of October trading, Dow futures fell 124 points or 0.4%, S&P 500 futures fell 0.4% and Nasdaq 100 futures lost 0.5%. Technology stocks including Nvidia and Zoom Video are down slightly in pre-market trading as investors …

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• 4 October 2021 4:33 pm

  US Bond Yields Stabilize Below Their High Levels

  

  The yield on the benchmark 10-year Treasury was at 1.49% in the first full trading week of October, below a 3-month high of 1.56% last week, as traders continue to digest the prospects for an early Fed tightening despite ongoing inflationary pressure. Last week, Fed Chair Powell said at the …

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• 4 October 2021 3:06 pm

  Gold Falls as The Dollar’s Bleeding Stops

  

  Gold retreated from its highest level in more than a week on Monday, October 4, as US Treasury yields rose and the dollar compensated for some of its losses, but it remained above the technically important $1750 support level, supported by market fears of inflation. Spot gold fell 0.5% to …

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