Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 17 October 2023 3:17 pm

  Gold is losing some luster ahead of Powell’s speech

  

  Gold prices fell on Tuesday as the dollar and US Treasury yields rose ahead of economic data and a speech by Federal Reserve Chairman Jerome Powell this week, which could shift the direction of upcoming interest rate decisions. Spot gold prices fell 0.1 percent to $1,916.88 per ounce by 0703 …

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• 17 October 2023 2:00 pm

  USD is locked in a narrow range

  

  The dollar moved in a narrow range on Tuesday as investors evaluated developments in the Middle East and awaited a set of speeches by US central bank officials this week, most notably the speech of Federal Reserve Chairman Jerome Powell, seeking indicators about monetary policy expectations. The yen stabilized near …

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• 17 October 2023 12:57 pm

  European stocks open lower with Ericsson and mining stocks falling

  

  European stocks fell in early trading on Tuesday, affected by a decline in Ericsson shares after disappointing quarterly results and a decline in shares of mining companies as investors monitored the risks resulting from the escalation of the conflict in the Middle East. The European STOXX 600 index fell 0.1 …

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• 17 October 2023 12:28 pm

  Oil declines amid hopes for easing US sanctions on Venezuela

  

  Oil prices fell slightly on Tuesday after falling by more than a dollar on Monday amid hopes that the United States will ease sanctions on oil producer Venezuela and as Washington intensifies its efforts to prevent an escalation of the war between Israel and Hamas. By 0333 GMT, Brent crude …

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• 17 October 2023 12:37 am

  Explainer: What Inevitable Problem Could Fed’s Policy Create?

  

  When the Fed raises interest rates and the yield curve inverts, someone will inevitably push the “big red button.” But this is also where the media is wrong about the 1995 “soft landing” scenario. The economy didn’t “soften” in 1995; crisis events did. But more importantly, when the yield curve …

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• 16 October 2023 11:57 pm

  GBP/JPY rebounds on dovish BoE

  

  The GBP/JPY is rebounding from last week’s dip. It is a heavy week on the economic calendar for the Pound Sterling, with wages, inflation, and Retail Sales inbound.Dovish comments from BoE officials are capping upside potential for the GBP. The GBP/JPY is seeing gains for Monday, trading into 182.50 after …

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• 16 October 2023 10:58 pm

  China’s strong imports raise questions on weak economic outlook

  

  China’s imports of major commodities continued resilient in September, despite all the discussion that insisted that the Chinese economy is struggling for momentum. Imports of crude oil, natural gas, coal, and iron ore dropped slightly from August, but all were higher than in September last year. The first nine months …

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• 16 October 2023 9:57 pm

  US stocks surge with main focus on corporate earnings

  

  Wall Street’s main indexes advanced on Monday as investors awaited key economic data and major corporate earnings this week for clues on the U.S. economy and monitoring the Israel-Hamas conflict. Long-dated US Treasury yields gained as the United States sought to prevent an escalation in tensions, with Secretary of State …

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• 16 October 2023 8:46 pm

  BoC Survey: Consumers think interest rates will go up over next 12 months

  

  The BoC noted in its Business Outlook Survey for the third quarter on Monday that consumers thought that interest rates will go up over the next 12 months.USD/CAD stays under modest bearish pressure in the American session and the pair was last seen losing 0.23% on the day at 1.3625.Key …

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• 16 October 2023 7:41 pm

  Fed’s Harker: Higher Rates Contribute to Rising Home Prices

  

  Federal Reserve Bank of Philadelphia President Patrick Harker said higher interest rates are making it more challenging for first-time home buyers by raising borrowing costs and limiting inventory, which is also leading to higher home prices.Higher rates discourage current owners from listing their homes for sale, which puts a crunch …

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• 16 October 2023 3:38 pm

  Euro Holds Strong Above 1.0500 Mark, Dollar Faces Downward Pressure

  

  The Euro (EUR) commenced the new trading week on a positive note against the US Dollar (USD), leading to an extension of EUR/USD’s rebound from the 1.0500 level, ultimately regaining the 1.0540 zone on Monday. The US Dollar (USD) experienced a slight decline, retreating from last week’s peak near 106.80 …

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• 16 October 2023 2:02 pm

  AUD consolidates post-intraday gains

  

  The Australian Dollar (AUD) started the week by recovering from a three-day losing streak, showing strength against the US Dollar. This positive movement followed a period of challenges, possibly influenced by shifting discussions regarding the trajectory of the US Federal Reserve’s (Fed) monetary policy. Investors are closely watching the Reserve …

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• 16 October 2023 12:54 pm

  European stocks rise supported by mining sector and investors keep an eye on the Middle East

  

  European stocks rose on Monday, led by gains made by mining companies amid optimism about demand from China, the largest consumer. However, trading witnessed a cautious approach as investors evaluated the possibilities of escalating conflict in the Middle East. The European STOXX 600 index rose 0.4 percent by 0707 GMT. …

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