Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 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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• 10 October 2023 2:52 am

  Market Drivers – US Session, October 09

  

  The Middle East is a key focus for markets this week, with the Australian Westpac Consumer Confidence Index and the NAB Business Conditions survey due in the Asian session. The US CPI is expected to be the key report on Thursday. The US Dollar Index experienced a modest decline near …

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• 10 October 2023 2:36 am

  Energy spikes, Defense Stocks surge on Middle East turmoil

  

  Gold and global bonds have seen a surge in value, while airline stocks have fallen. Investors are concerned that the Israel-Palestine war could escalate into a broader Middle Eastern conflict. Oil prices and defense stocks have climbed, with WTI crude oil at $86.38, up $3.59. US defense stocks, including Northrop …

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• 9 October 2023 11:51 pm

  EUR/USD achieves some gains after knocking back on risk aversion

  

  The EUR/USD pair began Monday with a dip to 1.0519 before easing back. The Euro remains down against the US Dollar for Monday, but losses are paring back. Market sentiment is rebalancing after geopolitical escalations in the Gaza Strip. The Euro is testing upwards into 1.0570 after slipping down into …

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• 9 October 2023 10:34 pm

  Wall Street declines on Middle East turmoil

  

  The CBOE volatility index (.VIX), Wall Street’s “fear gauge”, also rose to 18.54, reflecting investor anxiety. Amazon and Nvidia lead declines in Big Tech and several US airlines suspend Israel flights. Tesla falls on lower deliveries of China-made electric vehicles. Wall Street’s main indexes fell on Monday as a deepening …

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