Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 19 October 2023 7:35 pm

  Could Powell’s speech reshape rate-hike outlook before blackout period?

  

  Before the Economic Club of New York, Fed Chairman Jerome Powell is scheduled to deliver prepared remarks that are anticipated to increase market volatility and offer crucial details on the Fed’s upcoming policy move. The speech will likely be closely watched by the markets because it will be delivered just …

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• 19 October 2023 1:35 pm

  USD maintains its gains ahead of FED Chairman’s statements

  

  The dollar maintained its gains against rival currencies on Thursday ahead of comments by Federal Reserve Chairman Jerome Powell as expectations grew that the bank would keep interest rates high for longer. The US currency pushed the yen to hover around its lowest levels in two weeks, which it recorded …

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• 19 October 2023 1:04 pm

  European stocks decline with risk aversion due to poor corporate results

  

  European stocks fell about 1 percent on Thursday as risk aversion was exacerbated by poor results for companies, including food company Nestlé, as a result of tensions caused by the war in the Middle East and uncertainty over interest rates. By 0705 GMT, the European STOXX 600 index fell 0.8 …

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• 19 October 2023 12:21 pm

  Japan’s Nikkei closes lower due to expectations of monetary tightening and Middle East conflict

  

  Japan’s Nikkei index closed down about 2 percent on Thursday, tracking a wave of profit-taking stock selling on Wall Street after strong US economic data reinforced bets on monetary tightening by the Federal Reserve, while tensions in the Middle East also increased risk aversion. Chip-related stocks underperformed noticeably after traders …

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• 19 October 2023 10:56 am

  Gold maintains its luster in light of the Middle East conflict

  

  Gold prices hovered near the highest level in two and a half months on Thursday, as escalating unrest in the Middle East boosted demand for a safe investment haven. At the same time, investors awaited a speech by Federal Reserve Chairman Jerome Powell scheduled for later on Thursday. By 0318 …

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• 19 October 2023 5:53 am

  Market Drivers – US Session, October 18

  

  Gold initially jumped and reached $1,963, its highest level in two months, despite the moves in the bond market. The yellow metal later pulled back and settled around $1,950.The positive market sentiment that followed bright economic data from China was offset by rising tensions in the Middle East, higher yields …

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• 19 October 2023 1:47 am

  Fed’s Bowman: Inflation has come down but remains too high

  

  Federal Reserve (Fed) Governor Michelle W. Bowman commented at a Fed Listens event on Thursday that inflation in the US has come down but is still too high. At the time of press, the US Dollar Index was down 0.02% on the day at 106.54.Key Quotes “What has been somewhat …

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• 19 October 2023 12:28 am

  US dollar gains ground amid sour market mood, Fed’s Beige Book

  

  Due to sour market sentiment and the Fed’s Beige report, which revealed no material changes in economic activity since the September report, the US Dollar gained ground on Wednesday. Although US housing starts from September disappointed, building permits performed better than anticipated. The US Dollar Index reached a high of …

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• 19 October 2023 12:03 am

  2023 features strong Q3 for commodities

  

  The energy sector led a strong third quarter for commodity indexes, with the UBS Constant Maturity Commodity Index showing strong relative performance compared to the Bloomberg Commodity Index. The industrial metals sector saw a slight increase of over 3%, and CMCITR’s larger exposure to this sector allowed for slightly improved …

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• 18 October 2023 10:47 pm

  US eases sanctions on Venezuelan oil on election deal

  

  US President Joe Biden’s administration is easing sanctions on Venezuela’s oil and gas sector in response to a 2024 election deal reached between the Venezuelan government and the opposition. The US imposed sanctions on Venezuela in response to President Nicolas Maduro’s 2018 re-election, which the US and other Western governments …

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• 18 October 2023 9:48 pm

  Geopolitical escalation, uncertainty continue to weigh on EUR/USD

  

  With the EUR/USD pair extending its losses for the day to backslide to 1.525, the euro has not been able to close out a range of 1.00-1.0600 as market sentiment has turned bearish. US Treasury yields are on the rise again, with the benchmark 10-year note hitting its highest level …

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• 18 October 2023 8:59 pm

  Morgan Stanley’s earnings drop on Wall Street slowdown

  

  Morgan Stanley’s Q3 profits fell 9% from a year ago due to a decline in investment banking and trading revenue, indicating that Wall Street is still struggling to recover from a prolonged slump. The bank’s stock fell by 8%, marking its largest single-day drop in over three years. Morgan Stanley’s …

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• 18 October 2023 8:51 pm

  Waller: Fed can wait before making any interest-rate decisions

  

  Federal Reserve Governor Christopher Waller was an advocate for interest rate hikes last year. According to Waller, ‘Too soon to tell’ if economy will cool or prices heat up. The Federal Reserve needs to “wait, watch and see” how the economy evolves before making any interest-rate moves, said Fed Governor …

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