Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 10 October 2023 11:49 am

  Gold continues to rise in light of the Middle East conflict and the decline of Dollar and Bonds

  

  Gold prices continued to rise on Tuesday, the day after achieving sharp gains due to increasing uncertainty in the market due to the conflict in the Middle East, as cautious statements issued by senior Federal Reserve officials affected the dollar and bond yields. By 0314 GMT, gold in spot transactions …

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• 10 October 2023 11:10 am

  Oil declines due to fears of supply disruption as the Middle East conflict continues

  

  Oil prices fell slightly on Tuesday after rising more than four percent in the previous session as markets assessed the possibility of supply disruptions as the conflict between Israel and the Islamic Resistance Movement (Hamas) continued. By 0017 GMT, Brent crude fell 18 cents, or 0.2 percent, to $87.97 a …

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