Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 31 October 2023 3:39 am

  Market Drivers – US Session, October 30

  

  Gold retreated after surging on Friday and is trading slightly below $2,000. Silver initially surged towards October highs but later trimmed its gains, settling at $23.30. Markets are looking forward to a busy Tuesday in the middle of a loaded week with central bank meetings and key economic data. Risk …

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• 31 October 2023 3:21 am

  Wall Street closes higher on momentous earnings

  

  With company earnings, economic data, and the Federal Reserve’s two-day monetary policy meeting this week, Wall Street rebounded on Monday.The S&P 500 gained 1.2%, the Nasdaq gained almost the same amount, and the Dow increased by almost 1.6%. Microsoft and Amazon outperformed the market as a whole, and Megacap stocks …

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• 31 October 2023 2:01 am

  McDonald’s earnings higher than market expectations

  

  McDonald’s achieved profits that surpassed market expectations after achieving significant growth in its international sales in the quarter ending last September.McDonald’s profits rose to $3.19 per share in the third quarter of 2023, versus expectations of $3.00 per share.The company’s revenues also rose to $6.69 billion in the quarter ending …

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• 31 October 2023 1:17 am

  CAD aspires to gains despite Macklem’s remarks

  

  The Bank of Canada Governor Tiff Macklem has warned Canadian lawmakers that the economy is in a weaker phase due to higher interest rates, restraining consumption and bringing supply and demand closer to balance. Tiff Macklem stated that the Canadian central bank is assessing the effectiveness of its monetary policy, …

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• 30 October 2023 11:09 pm

  AUD/USD receives some support on positive Australian data

  

  The AUD/USD pair is trading near 0.6375 as investors prepare for a mid-week Fed rate decision. The AUD has gained strength due to positive Australian data, such as Australian Retail Sales exceeding forecasts. September’s retail sales showed a 0.9% increase, significantly higher than the 0.3% estimate. US investors are anxiously …

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• 30 October 2023 10:39 pm

  Do private equities constitute a risk for US economy?

  

  With a focus on short-term profits from highly leveraged transactions with little regulatory or public scrutiny, private equity has grown to be a multitrillion dollar industry. Because of this secrecy, companies can behave carelessly and are harder to prosecute. For example, the amount of private equity invested in nursing homes …

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• 30 October 2023 9:43 pm

  GBP/JPY falls before BoJ rate decision

  

  The GBP/JPY pair is falling further on Monday, having dropped from 182.00. The yen is strengthening ahead of Tuesday’s BoJ report. Low-impact UK data for Monday was largely negative, the final poor result before Thursday’s BoE.The GBP/JPY is currently trading at 181.00, and if traders of the pound sterling (GBP) …

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• 30 October 2023 9:04 pm

  Yen surges ahead of BoJ’s yield curve control

  

  The Japanese Yen has strengthened against the US dollar following a report by Nikkei Asia that the Bank of Japan is prepared to adjust its Yield Curve Control (YCC) framework to allow the yield on the 10-year Japanese government bond to rise above 1%.This move is seen as necessary due …

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• 30 October 2023 7:41 pm

  BoJ Preview: No policy change, another tweak to YCC probable

  

  On October 31, the Bank of Japan is scheduled to hold its Monetary Policy Committee meeting. Researchers and economists predict that policy won’t change, but opinions on whether to make another adjustment to Yield Curve Control (YCC) will differ. The benchmark 10-year JGB yield is getting close to reaching its …

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• 30 October 2023 6:24 pm

  World Bank: Commodity prices could spike on Middle East, West Asia Conflicts

  

  The World Bank predicts that the prolonged conflict in the Middle East will lead to a sharp increase in the price of commodities, especially natural gas and oil. Since the conflict began, energy prices have already increased by 9%, and there may be more shocks ahead. This scenario is similar …

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• 30 October 2023 5:53 pm

  Dallas Fed Survey: Business Conditions Worsened in October

  

  The general business activity index in the Dallas Fed’s Texas Manufacturing Outlook Survey (TMOS) decreased by 1.1 points in October, marking the second consecutive month of declines. However, the production index showed growth in Texas factory activity after four months in negative territory. The capacity utilization index also showed a …

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• 30 October 2023 5:23 pm

  Gas prices rise in Europe on declining imports from Egypt, Norway’s outages

  

  Gas prices rose in the Netherlands and Britain on Monday morning, October 30, driven by news that Egyptian gas imports would stop, which will consequently affect its exports of liquefied natural gas. Cold weather and unscheduled outages in Norway also supported prices. The Dutch November benchmark natural gas contract rose …

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• 30 October 2023 3:21 pm

  European stocks rise, supported by the healthcare sector, as bond yields decline

  

  European stocks rose in early trading on Monday, supported by health care shares, as bond yields fell while investors evaluated key inflation data. By 0826 GMT, the European STOXX 600 index rose 0.8 percent after falling more than four percent in the past two weeks. Sovereign bond yields in the …

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