Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 24 October 2023 8:39 pm

  CAD slips back on key US PMI data

  

  The Canadian Dollar has slipped back into its lowest bids in almost three weeks against the US Dollar (USD) as broad-market flows reverse direction and pile back into the Greenback following a bumper reading for the US Purchasing Managers’ Index (PMI) that soundly thumped market expectations.The Bank of Canada is …

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• 24 October 2023 7:44 pm

  EUR/USD retreats on T-yields, disappointing EU data

  

  EUR/USD reverses course at 50-DMA, sliding below 1.0600 as US Treasury bond yields rise.US economy gains momentum with S&P Global Manufacturing PMI at 50 and Services PMI at 50.9.Eurozone business conditions continue to deteriorate, with Manufacturing, Services, and Composite PMIs in recessionary territory. EUR/USD reverses its course at the 50-day …

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• 24 October 2023 4:15 pm

  Dollar is at its lowest level in a month after US bond yields fell

  

  The dollar fell to its lowest level in a month on Tuesday, October 24, against a basket of other major currencies after US Treasury bond yields declined, but it regained some of its gains as the euro declined against the backdrop of weak economic data. The dollar index, which measures …

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• 24 October 2023 1:56 pm

  Gold shines with falling US bond yields and tensions in the Middle East

  

  Gold prices rebounded on Tuesday as benchmark US Treasury bond yields declined and investors awaited economic data for clues about interest rates in light of the growing tensions in the Middle East. Gold rose in spot transactions 0.3 percent to $1,977.79 per ounce by 0712 GMT, while US gold futures …

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• 24 October 2023 1:04 pm

  European stocks rose supported by corporate profits and mining sector gains

  

  European stocks rose on Tuesday, October 24, supported by large profits achieved by heavyweight companies such as the luxury goods giant Hermes and the Italian bank UniCredit, as well as gains in the mining sector resulting from the rise in metal prices. The European STOXX 600 index rose 0.2% by …

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• 24 October 2023 12:12 pm

  Oil prices rebound amid the uncertainty of the situation in the Middle East

  

  Oil prices rose in early trading in Asia on Tuesday, October 24, recouping some of the previous day’s losses as investors continued to worry that the war between Israel and Hamas could escalate into a broader conflict in the oil-exporting region, causing potential supply disruptions. By 00:32 GMT, Brent crude …

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• 24 October 2023 10:50 am

  Japan’s Nikkei stops 3-session losses and rises supported by buying declining stocks

  

  The Japanese Nikkei index stopped a wave of losses that lasted for three consecutive sessions on Tuesday, October 24, and rose in a volatile session as investors bought distressed stocks when they fell. The Nikkei rose 0.2% to close at 31,062.35 points after falling 1.4% earlier in the session. The …

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• 24 October 2023 2:37 am

  Market Drivers – US Session, October 23

  

  Crude oil prices declined on Monday. The WTI barrel dropped to its lowest level in a week, reaching $85.66.Gold pulled back despite the sharp slide in US yields; XAU/USD found support above $1,970. Meanwhile, Silver experienced losses and dropped below $23.00.Remarkable DevelopmentsThe Treasury market was the center of attention on …

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• 24 October 2023 1:32 am

  US, China conduct in-depth constructive economic discussions

  

  China’s Finance Ministry said, on Tuesday, that the two sides had in-depth, candid and constructive discussions on the macroeconomic situation and policies of the two countries and the world,” following the conclusion of the first meeting between the China-US economic working group.Additional QuotesChina expressed its concern, both sides will maintain …

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• 23 October 2023 11:03 pm

  Yield on a 10-year Treasury reached 5% for the first time since 2007

  

  The 10-year Treasury yield has reached 5% for the first time since 2007, marking a significant shift in the global financial system. The increase in yields means that the US government must pay more to borrow money from investors to cover its spending, impacting people worldwide. The 10-year Treasury yield …

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• 23 October 2023 10:04 pm

  US stocks rise, continue to follow the bond market’s lead

  

  Wall Street is continuing a monthslong run where it’s slavishly followed the cue of the bond market. The S&P 500 shook off a weak start and was up 0.3% in midday trading. The benchmark index is coming off its worst week in a month. Early Monday morning, the yield on …

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• 23 October 2023 9:03 pm

  Dollar exhibits softer performance ahead of eventful week

  

  The US Dollar faces selling pressure as investors await fresh catalyst. Dovish bets on the Fed and lower US yields weakened the green currency. The US will release the preliminary estimate of Q3 GDP and PCE inflation data this week. The US Dollar Index declined to the 105.75 area. Falling …

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• 23 October 2023 7:57 pm

  Yen seen preparing for possible leap

  

  The Japanese Yen continues to struggle against the USD, with the pair coiling below the key level of 150 and threatening a breakout higher. Dovish remarks from BoJ Governor Ueda have pushed the pair higher, and intervention from Japanese authorities is likely as key price/yield levels are now close to …

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