Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 31 October 2023 10:01 pm

  US dollar surges ahead of looming Fed decision

  

  The DXY Index advanced to 106.70 ahead of the Fed’s interest rate decision on Wednesday, indicating that the US dollar is strengthening. The US economy proved remarkably resilient in the face of tightening measures, which contributed to the strengthening of the Greenback. While the S&P Dow Jones Indices reported that …

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• 31 October 2023 8:56 pm

  ECB’s Nagel: Rates must be sufficiently high for long

  

  European Central Bank policymaker Joachim Nagel noted on Tuesday that inflation in the Eurozone has fallen significantly but added that it was still too high, per Reuters.The EUR/USD pair stays under bearish pressure despite these hawkish comments and was last seen losing 0.45% on the day at 1.0565.Key Quotes“We must …

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• 31 October 2023 7:45 pm

  Could gold’s upswing continue further?

  

  The price of gold exceeded the $2000 level again for the first time in five and a half months last Friday. Observers and economic analysts are keen to analyze the expectations of the yellow metal, which at the time of writing is trading around $1994 per ounce.Analysts believe that gold …

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• 31 October 2023 5:47 pm

  Reuters survey: OPEC oil production rose for the third month

  

  OPEC oil production rose for the third straight month in October, supported by production increases in Nigeria and Angola despite ongoing cuts from Saudi Arabia and other members of the broader OPEC+ alliance aimed at supporting the market, a Reuters survey showed on Tuesday. The survey showed that OPEC pumped …

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• 31 October 2023 3:39 pm

  European stocks rise supported by real estate and BP is hurting the energy sector

  

  European shares rose on Tuesday, led by real estate and chemicals shares, as investors weighed a batch of economic data, while BP’s weak third-quarter earnings weighed on the energy sector. By 0826 GMT, the European STOXX 600 index rose 0.2 percent, but was heading for its worst monthly performance since …

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• 31 October 2023 2:56 pm

  Nikkei index closed higher after BoJ adjusted its yield curve control policy

  

  Japan’s Nikkei index rose on Tuesday after the Bank of Japan increased flexibility in controlling the yield curve while maintaining its stimulus policy. The Nikkei index closed 0.53 percent higher at 30,858.85 points. The broader Topix index rose 1.01 percent. Financial sector stocks recorded the largest gains, as the insurance …

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• 31 October 2023 1:57 pm

  Oil rises amid supply concerns overshadowed by weak Chinese data

  

  Oil prices rose in Asian trading on Tuesday, after falling more than three percent in the previous session, as concerns about supplies sparked by the conflict in the Middle East overshadowed weak Chinese data. By 0305 GMT, Brent crude futures for December, which expire on Tuesday, rose 36 cents, or …

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• 31 October 2023 10:02 am

  ExxonMobil’s profits decline despite an increase in net income

  

  In the third quarter of this year, ExxonMobil experienced a decline in profits compared to the same period last year, as stated in the earnings report released on Monday. However, the company saw a noteworthy 15% increase in net income in the last September quarter, a boost attributed to the …

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• 31 October 2023 10:01 am

  HSBC earnings exceed expectations

  

  In the last September quarter, HSBC Bank achieved remarkable financial results, reporting net profits of $6.26 billion. This figure represented a substantial increase of 235% in profits compared to the same period the previous year, where profits stood at $2.66 billion. The surge in profits before tax deductions was equally …

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• 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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