Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 11 October 2023 1:40 pm

  The Kremlin: It is difficult to underestimate the importance of oil coordination with Saudi Arabia at this time

  

  The Kremlin said on Wednesday that it is difficult to underestimate the importance of coordination between Russia, Saudi Arabia and other partners on global oil markets amid the escalation of the conflict between Israel and the Palestinian Islamic Resistance Movement (Hamas). Kremlin spokesman Dmitry Peskov added to reporters in a …

  Read More »
• 11 October 2023 12:53 pm

  Japan’s Nikkei closes at a two-week high

  

  Japan’s Nikkei index closed at its highest level in two weeks on Wednesday, as shares of chip manufacturers led a rally on bets that the US Federal Reserve would pursue more accommodative monetary policies. The Nikkei index, which is dominated by technology companies, ended Wednesday 0.6 percent higher at 31,936.51 …

  Read More »
• 11 October 2023 10:43 am

  Eyes on Fed minutes and PPI

  

  European markets experienced a notable upswing yesterday, reaching their highest levels in over a week. This occurred as financial markets adopted a more measured approach toward recent geopolitical events. Additionally, investors were contemplating the possibility of a stimulus plan in China and a subtle shift in tone from Fed policymakers …

  Read More »
• 11 October 2023 1:38 am

  Market Drivers – US Session, October 10

  

  The US dollar suffered on Tuesday as Wall Street concluded with gains. The price of crude oil slightly declined while trading in narrow bands. Prices for commodities fluctuated, holding onto recent gains. The Middle East scenario is still a source of uncertainty.For the first time since August, the EUR/USD price …

  Read More »
• 11 October 2023 12:59 am

  Gold comfortably higher ahead of inflation data

  

  Tuesday’s closing for gold is comfortably higher than Friday’s close, and even more gains may be in store for the precious metal so long as geopolitical risks are high and the dollar continues to see additional selling pressure. Risk-on mood has had an impact on gold prices, but the gap …

  Read More »
• 10 October 2023 10:50 pm

  Oil Prices Fluctuate on Continued Middle Eastern Turmoil

  

  Fears and concerns that the unrest in the Middle East could spread to the larger Gulf region, which produces oil and endanger world output, have driven up oil prices before retreating on Tuesday. The price of the worldwide standard for crude oil, Brent, increased by about 5% on Monday during …

  Read More »
• 10 October 2023 10:28 pm

  Foreign corporate investment in China seen collapsing

  

  The Chinese Renminbi may continue to weaken as foreign direct investment in China declines as a result of animosity from the Chinese government and a deteriorating domestic economy, according to several economists. From $400 billion in yearly direct investment in 2020 to $20 billion in 2023, this decline reflects a …

  Read More »
• 10 October 2023 9:35 pm

  Goldman Sachs: Traders expected to buy S&P 500 under whatever scenario

  

  US stocks are rising. Bonds are rising as markets reopen following a holiday, in part because investors are seeking safe haven after the escalation of Middle Eastern tensions. However, given that more speakers are scheduled for Tuesday, two Fed officials on Monday discouraged interest rate increases.Investors, particularly oil speculators, will …

  Read More »
• 10 October 2023 8:41 pm

  IMF cut growth forecasts for China, Eurozone

  

  Despite the remarkable strength of the US economy, the International Monetary Fund has lowered its growth projections for China and the Eurozone, noting that overall global growth remains low and unequal. The IMF maintained its 3.0% prediction for global real GDP growth in 2023 but reduced its 3.0% prediction for …

  Read More »
• 10 October 2023 7:25 pm

  NY Fed: Year-ahead expected inflation edges higher

  

  The Federal Reserve Bank of New York’s latest Survey of Consumer Expectations showed on Tuesday that the US consumers’ one-year inflation expectation edged higher to 3.7% in September from 3.6% in August.The US Dollar stays under modest bearish pressure following this publication. As of writing, the US Dollar Index was …

  Read More »
• 10 October 2023 3:36 pm

  OPEC Secretary General: We will participate with representatives of the oil sector in the COP28 conference

  

  Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Tuesday that the world’s major oil producers and representatives of this sector will participate in the United Nations Climate Change Conference (COP28), scheduled to be held in the UAE next month. Al Ghais said that anyone …

  Read More »
• 10 October 2023 1:54 pm

  European stocks rebound as US bond yields rise

  

  European stocks rebounded strongly on Tuesday, as reassurance from US monetary policy officials about interest rates and a decline in oil prices helped calm investor fears after conflict in the Middle East fueled a rush towards safe-haven assets. The European STOXX 600 index rose 1 percent by 0709 GMT, after …

  Read More »
• 10 October 2023 12:28 pm

  Nikkei records best daily performance in 9 months thanks to Wall Street gains

  

  Japan’s Nikkei index recorded its largest daily gain in nine months on Tuesday, led by energy-related stocks, in light of the extension of risk appetite from Wall Street and investors’ eagerness to snap up declining stocks. The Nikkei closed up 2.43 percent at 31,746.53 points, recording its largest daily gain …

  Read More »