Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 13 October 2023 3:24 pm

  Dollar slightly falls amid fears of continued interest hikes

  

  The US dollar fell on Friday after its largest daily increase since March, which it reached on Thursday, as US consumer price data revived the possibility that the Federal Reserve will have to continue raising interest rates to bring inflation back towards the target level of two percent. The consumer …

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• 13 October 2023 1:23 pm

  Gold is heading for its best weekly performance since March

  

  Gold consolidated on Friday and is heading towards recording its best weekly performance in seven months due to tension in the Middle East and supported by expectations that US interest rates may have reached their peak while markets evaluate the latest data on inflation. Gold in spot transactions increased 0.5 …

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• 13 October 2023 12:55 pm

  European stocks decline with renewed concerns about US interest rates

  

  European stocks fell on Friday after US inflation data fueled fears that interest rates will remain high for longer, while weak inflation data from China exacerbated concerns about the global economy. The European STOXX 600 index fell 0.2 percent by 0704 GMT. Shares of mining companies and oil and gas …

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• 13 October 2023 12:34 pm

  US inflation data pushes Japan’s Nikkei index lower

  

  Japanese stocks fell on Friday, tracking Wall Street’s overnight declines, after higher-than-expected US inflation data raised the possibility that the Federal Reserve would be forced to keep interest rates high for a longer period. However, the Japanese Nikkei index’s losses were limited due to a 5.75 percent jump in the …

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• 13 October 2023 4:00 am

  Market Drivers – US Session, October, 12

  

  Due to increased Treasury yields, gold abruptly pulled back from over $1,880 and dropped below $1,870. Similar to Gold, Silver too experienced a fall and fell under $22.00. The 10-year yield jumped from 4.57% to 4.73%, while the 2-year yield increased from 4.98% to 5.07%.The US dollar continues to trade …

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• 13 October 2023 12:45 am

  WTI attempts rebounding after being knocked lower by CPI data

  

  Due to investors’ worries when the US Consumer Price Index, or CPI, surpassed expectations, WTI crude oil prices plunged to a new low for the day. Crude Oil dealers, meanwhile, are focused on salvaging the day. Despite hitting a new low for the week, geopolitical unrest and supply worries continue …

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• 12 October 2023 11:42 pm

  US dollar extends gains on surging yields, hawkish bets

  

  The US Dollar continued to extend daily gains, and the DXY was getting close to weekly highs. The headline CPI for September in the US was higher than anticipated, while the core index was in line with forecasts.US Treasury short-term rates are also rising and getting close to weekly highs. …

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• 12 October 2023 10:38 pm

  Gold drops to $1,870 on rekindled Fed rate concerns

  

  Spot Gold price declines to $1,870 as markets turn around in response to US CPI inflation data. Markets are still undervaluing US inflation, which has caused risk-off flows.Thursday’s XAU/USD pricing has turned negative after beginning the day near $1,875. After the US Consumer Price Index (CPI) inflation reading revealed that …

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• 12 October 2023 9:24 pm

  EUR/USD dives post CPI data, stirs for potential Fed action

  

  US September CPI YoY rises to 3.7%, above expectations and reviving talk of rate hikes. As the US Dollar strengthens under inflationary pressures, EUR/USD trades around 1.0550.The neutral stance of ECB officials contrasts with probable Fed policy changes, which makes the EUR/USD dynamics more tense. Following a hotter-than-expected US inflation …

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• 12 October 2023 8:31 pm

  Fed’s Collins: Current monetary policy phase calls for patience

  

  Federal Reserve Bank of Boston President Susan Collins said on Thursday that the central bank is at or near the peak of the interest rate hike cycle. She did not rule out more rate hikes but warned the current stance calls for patience. Collins said the latest inflation data underscores …

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• 12 October 2023 7:53 pm

  Sterling under pressure post-CPI data in the US

  

  The Pound Sterling is facing intense selling pressure due to the stable US core Consumer Price Index (CPI) for September, which has weakened the risk appetite of traders and market participants. UK factory data for August contracted for the second time in a row, as firms cut heavily on input …

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• 12 October 2023 7:06 pm

  US dollar surges on CPI data

  

  The US dollar has continued to surge since the beginning of daily trading on Thursday, driven by the rise in the monthly reading of the US Consumer Price Index for last September.The dollar index, which measures the performance of the US currency against a basket of major currencies, surged to …

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• 12 October 2023 4:03 pm

  OPEC maintains its forecast for global oil demand growth in 2024

  

  The Organization of the Petroleum Exporting Countries (OPEC) on Thursday maintained its forecast for relatively strong growth in global oil demand in 2023 and 2024, citing signs of a resilient global economy so far this year and forecasting increased demand in China. The organization stated in a monthly report that …

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