Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 4 October 2023 3:29 am

  US House Speaker Removed for First Time in History

  

  It is the first time in the US history that House representatives have voted the Speaker out.US House Speaker, Kevin McCarthy, has been removed from office for first time in history.It follows a decision made by McCarthy over the weekend to cooperate with the Democrats to keep the government running …

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• 4 October 2023 2:07 am

  Market Drivers – US Session, October 3

  

  Gold fell for the seventh day in a row, reaching a low of $1,814 before reversing course and edging slightly higher to $1,825. After dropping more than 5% in the previous session, silver made a slight recovery to close at about $21.20.On Tuesday, the Yen increased, most likely as a …

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• 4 October 2023 1:15 am

  WTI slightly recovers as supply constraints remain a concern

  

  WTI is aiming to recoup $88.50 as energy prices show some improvement. Last week, crude oil fell sharply as a result of widespread risk-off flows that caused investors to flock to the US Dollar. Crude oil prices fell to a three-week low as the US Dollar Index reached a ten-month …

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• 4 October 2023 12:37 am

  EUR/USD crosses new yearly lows ahead of EU Retail Sales, NFP

  

  EUR/USD is trading near 1.0470, slightly weaker on Tuesday as traders prepare for a busy second half of the week. On Wednesday, the pair is expected to release US PMIs and EU retail sales data. The annualized EU PPI for August is predicted to decrease sharply, from -7.6% to -11.6%, …

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• 3 October 2023 10:40 pm

  GBP/USD continues challenging the 1.2000 mark

  

  The market’s overall sentiment is affected by worries about potential Federal Reserve moves. On Wednesday, S&P Global will publish the final projections for the September PMIs. The GBP/USD pair encounters sellers around roughly 1.2100 as the USD is in high demand. The pair is trading at 1.2082 at the time …

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• 3 October 2023 9:00 pm

  Canada’s dollar sinks on US dollar’s momentum

  

  The Canadian dollar continues to sink against the US dollar due to broad-market risk-off flows. Oil-dependent Canadian dollar is receiving only minor support from crude oil prices, which are seeing a minor rebound after halting a three-day decline. Canada has both Purchasing Manager Index (PMI) and Employment Rate figures due …

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• 3 October 2023 7:22 pm

  Fed’s Bostic sees no urgency for doing anything more about interest rate

  

  Commenting on the Federal Reserve’s policy outlook, “I am not in a hurry to raise, not in a hurry to reduce either,” Atlanta Fed President Raphael Bostic said. “I am willing to be patient. I don’t think there is an urgency for us to do anything more,” he added. As …

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• 3 October 2023 4:33 pm

  Potential Market Reactions to a US Government Shutdown

  

  The US government is on the verge of a temporary shutdown starting this Sunday, October 1st. Once again, Democrats and Republicans in the world’s largest economy are in a deadlock over how to allocate fiscal funds. Looking back, since 1981, the US government has partially suspended operations 14 times. The …

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• 3 October 2023 2:23 pm

  Gold falls for seventh session on Fed’s continued hawkishness

  

  Gold selling continued on Tuesday and recorded the longest losing streak since August 2022 in the last session after Federal Reserve (US central bank) officials confirmed the possibility of interest rates remaining high, while job vacancy data in the United States is released later on Tuesday. Gold fell in spot …

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• 3 October 2023 1:28 pm

  European stocks are under pressure as US bond yields continue to rise

  

  European stocks extended losses on Tuesday as rising US Treasury yields and the dollar pressured high-risk assets such as stocks and commodities, while a pessimistic outlook from the financial brokerage sector weighed on fashion retail companies. Strong economic data and the US Congress’ approval of a financing bill to avoid …

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• 3 October 2023 12:30 pm

  Inflation in Türkiye rose to 61.53% in September, close to expectations

  

  Annual consumer price inflation in Turkey rose to 61.53 percent in September, official data showed on Tuesday, slightly lower than expected and rising for the third month in a row as a result of tax increases and a recent decline in the lira. The consumer price inflation rate recorded 4.75 …

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• 3 October 2023 11:33 am

  Japan’s Nikkei falls to its lowest level in 4 months

  

  Japan’s Nikkei index fell to its lowest level in four months on Tuesday, with rising US Treasury yields weighing on investor sentiment and the Federal Reserve’s pledge to prolong fiscal tightening. The Nikkei index extended its losses in the afternoon, falling to 31,157.40 for the first time since June 1, …

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• 3 October 2023 2:24 am

  Market Drivers – US Session, October 2

  

  The key event in the Asian session, Tuesday, will be the Reserve Bank of Australia meeting. Later in the day, Switzerland will report consumer inflation, and in the US, the JOLTS Job Openings data will be released.Key DevelopmentsThe US dollar made a great start to the week, continuing the upward …

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