Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2021

• 5 October 2021 9:37 pm

  Senator: Powell Failed as Fed Leader

  

  Senator Elizabeth Warren said revelations about investment transactions last year by Federal Reserve officials calls into question Jerome Powell’s leadership of the U.S. central bank.“For Fed officials to actively trade in the market raises legitimate questions about conflicts of interest and insider trading,” the Massachusetts Democrat said Tuesday during a …

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• 5 October 2021 9:20 pm

  Lagarde: ECB to zoom in on inflation expectations

  

  The European Central Bank is closely watching inflation expectations and wage developments as predicting the length of disruptions caused the economy’s post-pandemic reopening is difficult, ECB President Christine Lagarde said. “We should not overreact to supply shortages or rising energy prices, as our monetary policy cannot directly affect those phenomena”, …

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• 5 October 2021 8:29 pm

  EUR/USD retreats back to the 1.1600 ahead of Lagarde’s speech

  

  The EUR/USD pair has reversed part of recent gains and returned to 1.1600. Sellers returned to the market and forced EUR/USD to abandon the area of recent highs and refocus once again on the 1.1600 hereabouts.After two successive daily pullbacks, the EUR/USD pair now trades on the defensive and hovers …

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• 5 October 2021 7:48 pm

  After Norway, Will New Zealand’s Fed be second to effect hike rates?

  

  New Zealand’s dollar declined 0.34% to $0.6939, away from a four day peak at $0.6981.The Reserve Bank of New Zealand will decide on the state’s fiscal policy on Wednesday, with markets expecting a quarter point rate hike. With markets already pricing a rate hike cycle, the likelihood of material NZD …

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• 5 October 2021 7:23 pm

  U. S. Poll Shows Economic Optimism declines

  

  The IBD/TIPP Economic Optimism Index, a pioneering national poll on consumer confidence, declined for the fourth consecutive month. The October index fell another 3.6% after September’s 9.5% drop, moving from 48.5 last month to 46.8 this month, and remained in the negative territory for the second successive month.For the IBD/TIPP …

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• 5 October 2021 7:05 pm

  Supply concerns lead Europe’s gas to a record surge

  

  Natural gas contracts have hit new highs in Europe on Tuesday, as soaring prices continue to put pressure on the continent’s energy sector ahead of winter months.November delivery contracts at the Dutch TTF hub, a European benchmark for natural gas, were trading at around 118 Euros per megawatt hour just …

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• 5 October 2021 6:12 pm

  U.S: Markit Services PMI edges lower to 54.9

  

  The business activity in the US service sector continued to expand in September albeit at a softer pace than it did in August with IHS Markit’s Services PMI retreating to 54.9 (final) from 55.1 in August. Nevertheless, this reading came in higher than the advanced estimate and the market expectation …

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• 5 October 2021 6:10 pm

  Canada: International trade surplus widens to C$1.94B

  

  Canada’s merchandise trade surplus with the world widened to C$1.94 billion in August from C$736 million in July, the monthly data published by Statistics Canada revealed on Tuesday. This reading beat the market expectation for a surplus of C$0.35 billion by a wide margin.

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• 5 October 2021 6:09 pm

  US: Goods And Services Deficit Expands to $73.3B

  

  The goods and services deficit of the US expanded by $2.9 billion to $73.3 billion in August from $70.3 billion in July, the US Census Bureau reported on Tuesday. This reading came in worse than analysts’ estimate for a deficit of $70.5 billion.

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• 5 October 2021 4:27 pm

  US Stock Futures Regain Some of Yesterday’s Losses

  

  Stock futures rebounded on Tuesday as some investors bought declines in technology stocks, Dow Jones Industrial Average futures gained 101 points or 0.3%, S&P 500 futures rose 0.3% and Nasdaq 100 futures gained 0.4%. Facebook shares added 1.5% in pre-market trading after dropping 5% on Monday due to whistleblower claims …

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• 5 October 2021 3:44 pm

  Bitcoin Exceeds Significant Levels, With Adoption Approaching in a New Country

  

  The largest digital currency, Bitcoin, has managed to reach its highest levels in nearly a month, specifically since the start of accepting Bitcoin payments in El Salvador on September 7. Bitcoin was seen a few minutes ago, above the levels of 50 thousand dollars, after rising more than 5%, and …

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• 5 October 2021 2:45 pm

  The Dollar Climbs to a Year High

  The dollar rebounded to a one-year high against other major currencies on Tuesday, ahead of an important US jobs report due at the end of the week, which could increase the Federal Reserve’s motivation to start tapering stimulus by next month. The dollar, which is considered a safe haven, also …

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• 5 October 2021 1:45 pm

  Oil Rises After OPEC+ Adheres to Supply Restrictions

  

  Oil prices rose on Tuesday, October 5, reaching their highest levels in at least three years, extending gains made during the previous session after the world’s major oil producers announced their decision to maintain a curb on crude supplies. Brent crude rose 23 cents, or 0.3%, to $81.49 a barrel, …

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