Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 20 October 2023 8:32 pm

  ECB finalises report on banking credit risk management

  

  The European Central Bank has published its final report on “Sound practices in counterparty credit risk governance and management,” following a public consultation that ended in July 2023. The report identifies sound market practices and areas for improvement in managing counterparty credit risk. The ECB has acknowledged all comments received …

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• 20 October 2023 7:24 pm

  Could gold reap more gains on escalating Middle East woes?

  

  Despite higher bond yields, the Gold price gained to around $1,980 this week – its highest level in three months. Economists at Commerzbank analyze the yellow metal’s outlook.The Gold Index (XAU/USD) upside potential is likely exhausted, but gold price could probably chalk up some additional gains if the Middle East …

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• 20 October 2023 4:47 pm

  Oil is on its way to rising for the second week against the backdrop of the conflict in Gaza

  

  Oil prices rose on Friday by more than a dollar, on track to achieve gains for a second week amid growing fears that the conflict between Israel and Gaza could spread to the Middle East and thus disrupt supplies from one of the largest crude production regions in the world. …

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• 20 October 2023 2:59 pm

  Dollar touches the 150 level against Yen with a boost from Powell’s statements and Treasuries

  

  On Friday, the dollar briefly touched the 150 level against the closely watched yen, supported by a rise in US 10-year Treasury bond yields towards 5 percent after Federal Reserve Chairman Jerome Powell indicated that there was room to implement further interest rate hikes. The yield on ten-year US Treasury …

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• 20 October 2023 2:56 pm

  Russia: OPEC+ helps stabilize oil markets

  

  Russia said on Friday that the OPEC+ group of major oil producers helped stabilize oil markets and resisted external pressure, despite “Western manipulation” in the form of a price ceiling for Russian oil. Foreign Ministry spokesman Alexei Zaitsev stated in a weekly press briefing that Russia is a responsible supplier …

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• 20 October 2023 12:23 pm

  European stocks are heading for a sharp weekly loss due to Middle East tensions

  

  European stocks fell on Friday and were on track for their biggest weekly loss in three months, as growing concerns about a broader conflict in the Middle East, rising government bond yields and disappointing corporate earnings reports pushed investors off risk. By 7:06 GMT, the European STOXX 600 index fell …

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• 20 October 2023 10:48 am

  Oil prices rose by more than 1% and are heading for the second weekly gain in a row

  

  Oil prices rose by more than 1% during Friday’s trading session and are heading towards the second consecutive weekly gain in light of the continuing conflict in the Middle East. In terms of trading, Brent crude futures rose by about 1% to $93.33 per barrel. US crude contracts also rose …

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• 20 October 2023 10:06 am

  Gold is at a 3-month peak due to the conflict in the Middle East

  

  Gold prices rose to their highest levels in three months on Friday and were on track for a second straight weekly gain on rising demand boosted by conflict in the Middle East and expectations that interest rate hikes by the Federal Reserve are nearing an end. By 0332 GMT, gold …

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• 19 October 2023 9:29 pm

  US stocks fall following Powell’s speech

  

  US stocks fell on Thursday as Wall Street parsed comments from Federal Reserve Chair Jerome Powell while monitoring a key milestone for a closely followed bond yield. The S&P 500 slipped 0.2%, while the Nasdaq Composite shed 0.3%. The Dow Jones Industrial Average lost 21 points, or 0.1%. Powell said …

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• 19 October 2023 8:20 pm

  Powell: Tightening in financial conditions can have implications for policy

  

  Jerome Powell, Chairman of the Federal Reserve (Fed), prepared remarks for delivery to the Economic Club of New York showed that Powell will say that significant tightening in financial conditions with higher bond yields can have implications for the policy. Powell will add that the policy setting committee is “proceeding …

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• 19 October 2023 7:35 pm

  Could Powell’s speech reshape rate-hike outlook before blackout period?

  

  Before the Economic Club of New York, Fed Chairman Jerome Powell is scheduled to deliver prepared remarks that are anticipated to increase market volatility and offer crucial details on the Fed’s upcoming policy move. The speech will likely be closely watched by the markets because it will be delivered just …

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• 19 October 2023 1:35 pm

  USD maintains its gains ahead of FED Chairman’s statements

  

  The dollar maintained its gains against rival currencies on Thursday ahead of comments by Federal Reserve Chairman Jerome Powell as expectations grew that the bank would keep interest rates high for longer. The US currency pushed the yen to hover around its lowest levels in two weeks, which it recorded …

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• 19 October 2023 1:04 pm

  European stocks decline with risk aversion due to poor corporate results

  

  European stocks fell about 1 percent on Thursday as risk aversion was exacerbated by poor results for companies, including food company Nestlé, as a result of tensions caused by the war in the Middle East and uncertainty over interest rates. By 0705 GMT, the European STOXX 600 index fell 0.8 …

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