Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 18 October 2023 8:59 pm

  Morgan Stanley’s earnings drop on Wall Street slowdown

  

  Morgan Stanley’s Q3 profits fell 9% from a year ago due to a decline in investment banking and trading revenue, indicating that Wall Street is still struggling to recover from a prolonged slump. The bank’s stock fell by 8%, marking its largest single-day drop in over three years. Morgan Stanley’s …

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• 18 October 2023 8:51 pm

  Waller: Fed can wait before making any interest-rate decisions

  

  Federal Reserve Governor Christopher Waller was an advocate for interest rate hikes last year. According to Waller, ‘Too soon to tell’ if economy will cool or prices heat up. The Federal Reserve needs to “wait, watch and see” how the economy evolves before making any interest-rate moves, said Fed Governor …

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• 18 October 2023 2:31 pm

  Gold near the highest level in a month after the Gaza hospital strike

  

  Gold prices touched their highest levels in nearly a month on Wednesday after the Gaza hospital explosion reinforced fears of escalating conflict in the Middle East and maintained the precious metal’s appeal as a safe investment. By 0700 GMT, the price of gold in spot transactions had risen 0.7 percent …

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• 18 October 2023 1:37 pm

  Dollar is stable after Chinese economic data exceeded expectations

  

  Better-than-expected Chinese growth data published on Wednesday gave Asian currencies a boost, driving the yuan to a one-week high and pressuring the dollar. But the attack on a hospital in Gaza on Tuesday made the moves modest and kept investors awaiting the possibility of the conflict expanding. Official data showed …

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• 18 October 2023 12:40 pm

  Oil jumps more than 2% as tensions escalate in the Middle East

  

  Oil prices rose on Wednesday as tensions rose in the Middle East after hundreds were killed in a hospital explosion in Gaza, raising concerns about disruptions to oil supplies from the region. By 0225 GMT, Brent crude futures increased $2.07, or 2.3 percent, to $91.97 per barrel. US West Texas …

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• 18 October 2023 11:10 am

  British inflation stabilizes in September at the lowest level in 18 months

  

  Official data showed on Wednesday that annual consumer price inflation in Britain settled at an 18-month low of 6.7 percent in September, contrary to economists’ expectations of a further deterioration. Financial markets expect the Bank of England to keep interest rates at 5.25 percent on November 2, after keeping them …

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• 18 October 2023 2:14 am

  Crude oil slightly higher around $86

  

  Crude oil prices were fluctuating due to geopolitical tensions, with WTI offers ranging between $86.00 a barrel and $86.50. Saudi Arabia and Russia are cutting 1.3m barrels per day (bpd) of production and reducing exports, pushing crude oil prices higher.OPEC member countries are also cutting back on oil production, threatening …

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• 18 October 2023 1:40 am

  Wall Street hesitates amid solid earnings, surging T-Yields

  

  US equities dipped and Treasury yields soared on Tuesday as strong economic data and strong third-quarter earnings suggested that the Federal Reserve will continue to tighten policy for an extended period of time.All three major US indices were slightly lower at the end of trading, with interest-rate-sensitive MegaCap shares taking …

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• 18 October 2023 1:16 am

  Market Drivers – US Session, October 17

  

  In the Asian session, Chinese economic data including GDP figures will be the main focus, while RBA Bullock will be speaking at a panel discussion. At the same time, UK inflation data will be released during European trading hours.Economic DataIn the US, another round of positive economic data was released, …

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• 18 October 2023 12:40 am

  Treasury yields spike following robust retail sales data

  

  Treasury yields soared after robust retail sales data caused traders to reassess their views on the length of the Federal Reserve’s tightening cycle.The benchmark 10-year note was last down 34/32, yielding 4.851% (versus 4.71% on Monday), while the 30-year bond was last down 42/32, yielding 3.9579% (versus 3.866% on Monday).The …

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• 17 October 2023 10:26 pm

  Dollar retreats despite strong US economic activity data

  

  Despite encouraging economic activity data, the US Dollar has retreated from its daily highs. The dollar has been weakened by a supportive market environment and a risk-on flow. The US Treasury yields are close to their highest levels in two weeks, limiting the potential downside. The Federal Reserve has raised …

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• 17 October 2023 9:14 pm

  EUR/USD climbs amid risk-on pulse following key US data

  

  The EUR/USD pair is on track for a higher opening on Tuesday as risk appetite returns to the markets after a brief respite. Investor sentiment is on the rise following a positive surprise in US Retail Sales, prompting the USD to take a breather. The pair is pushing higher amid …

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• 17 October 2023 8:52 pm

  How far is Fed’s Powell stuck in interest rate debate?

  

  US Federal Reserve Chairman Jerome Powell is scheduled to make his final public appearance before the Fed’s policy-setting committee on Thursday. The speech is scheduled to take place before the committee’s October 31-November 1 policy meeting.Powell’s speech is expected to focus on the recent rapid increases in bond yields, which …

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