Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 1 November 2023 8:01 pm

  Sterling recovers post weaker US data

  

  Weak US economic data has caused the Pound Sterling to rise vertically, increasing market risk appetite. Investors are still awaiting significant monetary policy announcements from the Bank of England and the US Fed, though. The GBP/USD exchange rate is still tense because investors believe the BoE will maintain current interest …

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• 1 November 2023 7:39 pm

  Bitcoin Price swings below $35000 amid $100 million liquidation

  

  After a few days of relatively low volatility, the price of the most famous cryptocurrency has headed north once again, surpassing the coveted level of $35,000, before plunging down below it almost immediately. Bitcoin is trading at $34243 at the time of writing. Somewhat expected, the move resulted in millions …

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• 1 November 2023 7:03 pm

  US: ISM Manufacturing PMI for October worsened

  

  ISM Manufacturing PMI worsened unexpectedly to 46.7 in October. The US Dollar Index is trimming its gains, retreating from 107.00.The US Dollar Index pulled back modestly after the ISM and the JOLTS report, retreating from 107.00 to 106.85. It was still up for the day. Now attention is set on …

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• 1 November 2023 6:13 pm

  US JOLTS Job Openings rise to 9.55 million in September

  

  The US Bureau of Labor Statistics (BLS) has reported a total of 9.55 million job openings on the last business day of September, exceeding market expectations of 9.25 million. This figure, slightly higher than the revised August number of 9.49 million (initially reported as 9.61 million), was highlighted in the …

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• 1 November 2023 6:01 pm

  US private sector employment rises 113,000 in October

  

  According to data released by Automatic Data Processing (ADP) on Wednesday, private sector employment in the US saw a modest increase of 113,000 jobs in October. This figure, although below market expectations of 150,000, marks a slight improvement from the 89,000 jobs added in September. Analyzing the survey results, Nela …

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• 1 November 2023 5:44 pm

  BoE Preview: Anticipating a Tight Vote for Maintaining the Status Quo

  

  The Bank of England’s upcoming meeting in November appears to be one of the most predictable ones in recent memory, despite the famous saying about the unpredictability of events. Since the current tightening cycle began in late 2021, the decisions have often been closely contested. In the last meeting held …

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• 1 November 2023 4:30 pm

  Thomson Reuters’ sales and operating profits rose in Q3

  

  Thomson Reuters on Wednesday reported higher revenues and operating profits in the third quarter of this year, supported by gains in its three largest divisions – legal and corporate services and tax and accounting professionals. The provider of information and tools for lawyers, accountants and other professionals announced adjusted earnings …

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• 1 November 2023 3:20 pm

  Toyota’s Quarterly Profits Surge

  

  On Wednesday, November 1, Toyota Motor Company made a significant announcement, revealing a remarkable surge in profits during the second quarter. This impressive growth, more than doubling their previous figures, was attributed to a weaker yen and robust sales, prompting the company to revise its full-year expectations upward by an …

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• 1 November 2023 2:30 pm

  European stocks hit a two-week high

  

  European stocks rose to their highest level in nearly two weeks on Wednesday, supported by health care stocks, as investors awaited a widely expected decision from the Federal Reserve to keep interest rates unchanged later on Wednesday. The European STOXX 600 index rose 0.1 percent by 0825 GMT, heading for …

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• 1 November 2023 1:14 pm

  Yen stops falling after more severe intervention warnings

  

  On Wednesday, the Japanese yen stopped falling after renewed threats of state intervention in the matter and as investors turned their attention to a policy meeting held by the Federal Reserve later on Wednesday. Interest rates in the United States are expected to remain unchanged, but the publication of details …

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• 1 November 2023 3:36 am

  FOMC decision preview: How will Fed react to surging T-yields?

  

  Since July, the Federal Reserve has not increased interest rates. That hasn’t made borrowing costs any less crippling for consumers. In September, the Fed hit the pause button. The US central bank will most likely decide its rate decision on Wednesday in light of key financial conditions, developments and economic …

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• 1 November 2023 2:48 am

  Oil prices retreat on easing supply, geopolitical woes

  

  Tuesday’s closing price of WTI crude oil was $81.18 per barrel, the lowest in two months, as concerns over a growing war faded and traders’ focus was largely directed towards the recent economic data out of the Eurozone.Tuesday saw an improvement in oil prices as investors became less concerned about …

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• 1 November 2023 12:46 am

  EUR/USD retreats on mixed EU data, ahead of Fed’s decision

  

  The EUR/USD pair is presently trading below 1.0600, having retreated from a weekly high of 1.0675. The Eurozone released mixed economic data in October, with GDP declining by 0.1% in Q3 but inflation falling to 2.9% in the same month.ECB officials maintain that more tightening is possible, with Joachim Nagel …

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