Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 5 October 2023 11:35 pm

  USD/JPY pair is trying to recover ahead of NFP

  

  The USD/JPY pair is trying to recover after falling to a level around 148.40. A cautious increase in overall market risk appetite is restraining US Dollar gains in response to positive data.After Tuesday’s enigmatic chart spike, the Yen has been trading slowly. The USD/JPY began trading on Thursday, rising as …

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• 5 October 2023 10:37 pm

  EUR/USD extends upward trend ahead of NFP data

  

  Officials at the ECB alternately play down the prospect of future rate increases. On Thursday, the EUR/USD was moving higher, stretching for 1.0550 ahead of the end-of-week release of US non-farm payroll data. At the time of writing, the pair is trading at 1.0548.As ECB policymakers continue to downplay the …

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• 5 October 2023 9:34 pm

  Is China’s economy showing signs of stabilization?

  

  Exporters are battling diplomatic sensitivities, visa problems, and a determination to lessen dependence on China as the country’s economic recovery becomes a worldwide worry. Chinese exporters are looking into the US market’s potential and hoping to make it their main source of production orders. Despite the uneven economic recovery, the …

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• 5 October 2023 8:22 pm

  ECB’s Villeroy sees additional rate hike unjustified

  

  “We’ve seen positive inflation data and a concurrent rise in long-term rates. Although it might be deemed excessive, it aids in tightening financial conditions for the European economy, according to ECB policymaker Francois Villeroy de Galhau, who made the statement on Thursday.Villeroy continued, “So today, I don’t think an additional …

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• 5 October 2023 7:50 pm

  Gold price faces constrained outlook

  

  Below $1,820 per ounce, gold is at its lowest price since March, a loss of $100. Economists evaluate the prospects for the yellow metal. A barrier to gold in the near term is uncertainty over when US rates and the dollar will peak. The precious metal is trading at 1814.69 …

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• 5 October 2023 3:35 pm

  European stocks regain their balance and return to rise as selling declines

  

  European stocks regained some balance on Thursday after a three-day sell-off amid concerns about rising interest rates that pushed US and European government bond yields to multi-year highs. The European STOXX 600 index rose 0.3 percent by 0720 GMT, after closing at its lowest levels in six months on Wednesday. …

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• 5 October 2023 2:22 pm

  Putin orders regulation of fuel oil prices and continuation of the ban on Russian exports

  

  Russian President Vladimir Putin has ordered the government to provide state funding to ensure a smooth heating season, including by imposing regulations on the prices of fuel oil for home heating in some regions, the Kremlin said on Thursday. Russia has been facing a fuel shortage and rising prices in …

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• 5 October 2023 1:46 pm

  The pipeline between Iraq and Turkey is ready for operation as of Wednesday

  

  Turkish Energy Minister Alp Arslan Bayraktar said on Thursday that the crude oil pipeline from Iraq via Turkey, which has been halted for about six months, is ready for operation as of Wednesday and that Ankara is preparing to start shipments. Turkey stopped flows through the oil export route from …

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• 5 October 2023 12:25 pm

  Nikkei ends a 5-day losing streak as US bond yields decline

  

  The Nikkei index snapped a five-day losing streak, recording on Thursday the largest single-day percentage jump in three months, with US Treasury yields declining from their highest levels in 16 years and investors buying stocks that fell. The Nikkei index rose 1.80 percent at the close, recording 31,075.36 points. On …

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• 5 October 2023 11:42 am

  Oil prices rise after OPEC+ maintains production cuts

  

  Oil prices rose in early trading on Thursday, compensating for part of the large losses incurred in the previous session after the OPEC+ Joint Ministerial Monitoring Committee maintained oil production cuts, meaning a continued supply shortage amid fears of an imminent decline in global economic growth. Brent crude futures rose …

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• 5 October 2023 2:51 am

  Market Drivers – US Session, September 4

  

  Before staging a rebound, the bond sell-off drove US and European rates to levels not seen in years. The benchmark German rate touched 3% for the first time since 2011, the 30-year UK yield hit 5%, and the 10-year Treasury yield peaked at 4.88% before falling to 4.73%. The bond …

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• 5 October 2023 1:30 am

  GBP/USD rallies despite UK business activity contraction

  

  The GBP/USD pair has rallied from a daily low of 1.2037 to trade at 1.2144 at the time of writing, despite UK Services PMI and Composite figures indicating a contraction in business activity. The US ADP Employment Change report and ISM Non-Manufacturing PMI reveal a slowdown in private sector hiring …

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• 5 October 2023 12:45 am

  US agencies worried although Congress avoided shutdown

  

  US agencies have stopped clearing fuel in heavily forested areas to prevent wildfire spread. A 45-day stopgap funding bill was passed just hours before agencies would have been forced to close, but employees say everything stops as the work process shifts gears. The Office of Management and Budget formally kicked …

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