Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 16 October 2023 2:02 pm

  AUD consolidates post-intraday gains

  

  The Australian Dollar (AUD) started the week by recovering from a three-day losing streak, showing strength against the US Dollar. This positive movement followed a period of challenges, possibly influenced by shifting discussions regarding the trajectory of the US Federal Reserve’s (Fed) monetary policy. Investors are closely watching the Reserve …

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• 16 October 2023 12:54 pm

  European stocks rise supported by mining sector and investors keep an eye on the Middle East

  

  European stocks rose on Monday, led by gains made by mining companies amid optimism about demand from China, the largest consumer. However, trading witnessed a cautious approach as investors evaluated the possibilities of escalating conflict in the Middle East. The European STOXX 600 index rose 0.4 percent by 0707 GMT. …

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• 16 October 2023 11:55 am

  Japan’s Nikkei index fell as investor sentiment was affected by tension in the Middle East

  

  Japan’s Nikkei index fell by more than two percent on Monday, affected by a decline in stocks related to the chip manufacturing sector and in light of a decline in risk appetite due to escalating tension in the Middle East. The Nikkei index fell 2.03 percent, closing at 31,659.03 points. …

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• 16 October 2023 11:31 am

  Gold retreats from the highest level in a month as investors’ fears of war escalate

  

  Gold prices fell on Monday after reaching the highest level in nearly a month, with escalating fears of the conflict between Israel and the Islamic Resistance Movement (Hamas), which pushed the precious metal to rise by more than three percent in the previous session. By 0102 GMT, gold in spot …

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• 16 October 2023 9:54 am

  Oil declines as investors assess the repercussions of unrest in the Middle East

  

  Oil prices fell on Monday, with Friday’s rise relatively subsiding as investors awaited the repercussions of the conflict between Israel and the Islamic Resistance Movement (Hamas) on other countries, which could push prices up and deal a new blow to the global economy. Brent crude futures fell 34 cents, or …

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• 16 October 2023 7:47 am

  Financial Markets’ Weekly Recap

  

  Gold Gold prices surged last week, driven by safe-haven demand amid escalating geopolitical tensions. The rally began as Israel declared war and launched a military operation against the Palestinian militant group Hamas after an unprecedented attack on Israel. Gold, being a traditional safe-haven asset, gained 1.6% on Monday, marking its …

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• 14 October 2023 2:11 am

  Market Drivers – US Session, October 13

  

  Following a decline on Thursday due to negative market sentiment, the Canadian dollar saw a minor recovery on Friday. Following a CPI inflation beat, investors supported the US dollar over worries that Fed interest rates would remain high. The Canadian currency, tied to crude oil price movement, is also strengthening …

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• 14 October 2023 12:22 am

  Oil soars 6% on geopolitical escalation

  

  On Friday, oil prices rose by about 6%, with Brent recording its largest weekly gain since February. As soon as Israel started conducting ground incursions into the Gaza Strip, investors factored in the likelihood that the Middle Eastern conflict may intensify. A week after the terrorist Palestinian group’s murderous assault …

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• 14 October 2023 12:07 am

  Gold leaps above $1925 amid escalating geopolitical tensions

  

  In the wake of the rising Israel-Palestine crisis, gold prices are surging, trading around $1,929, precisely at $1929.20 at the time of writing; marking a gain of more than 3.21%. Israeli ground actions in Gaza instead of air strikes increase global tensions and strengthen safe-haven assets.US Treasury yields are under …

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• 13 October 2023 10:40 pm

  Could ECB’s soft landing be derailed by markets, politics?

  

  Economists frequently raise concerns about inflation risks and challenges to the Eurozone’s economic prognosis for a gentle landing. The ECB should remain on hold until there is a clearer understanding of the future, which may not happen until March of the next year. When the ECB hinted last month that …

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• 13 October 2023 9:47 pm

  Treasury yields drop amid hawkish Fed bets

  

  After reversing two days of losses on Thursday, Treasury yields were falling on Friday. The 30-year bond’s yield decreased to the 4.782% zone, while the 10-year bond’s yield decreased to 4.632%. After declining earlier in the week, both yields increased on Thursday.Investors are intently monitoring Treasury yields after they reached …

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• 13 October 2023 8:43 pm

  BoC’s Macklem: Not really seeing downward momentum in underlying inflation

  

  Bank of Canada Governor Tiff Macklem said on Friday that they were concerned because they were not really seeing a downward momentum in inflation, per Reuters.USD/CAD edged lower following these comments and was last seen losing 0.25% on the day at 1.3655.Key Quotes“Bank of Canada is not expecting a recession …

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• 13 October 2023 7:45 pm

  Wall Street climbs after big banks post strong earnings

  

  Wall Street’s major stock indices surged on Friday due to strong financial results from major US banks, increasing confidence in the economy. JPMorgan Chase, Wells Fargo, and Citigroup saw their shares rise by 3% to 5%, while the S&P 500 Banks index reached a three-week high of 3.2%. The worst …

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