Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 12 October 2023 8:31 pm

  Fed’s Collins: Current monetary policy phase calls for patience

  

  Federal Reserve Bank of Boston President Susan Collins said on Thursday that the central bank is at or near the peak of the interest rate hike cycle. She did not rule out more rate hikes but warned the current stance calls for patience. Collins said the latest inflation data underscores …

  Read More »
• 12 October 2023 7:53 pm

  Sterling under pressure post-CPI data in the US

  

  The Pound Sterling is facing intense selling pressure due to the stable US core Consumer Price Index (CPI) for September, which has weakened the risk appetite of traders and market participants. UK factory data for August contracted for the second time in a row, as firms cut heavily on input …

  Read More »
• 12 October 2023 7:06 pm

  US dollar surges on CPI data

  

  The US dollar has continued to surge since the beginning of daily trading on Thursday, driven by the rise in the monthly reading of the US Consumer Price Index for last September.The dollar index, which measures the performance of the US currency against a basket of major currencies, surged to …

  Read More »
• 12 October 2023 4:03 pm

  OPEC maintains its forecast for global oil demand growth in 2024

  

  The Organization of the Petroleum Exporting Countries (OPEC) on Thursday maintained its forecast for relatively strong growth in global oil demand in 2023 and 2024, citing signs of a resilient global economy so far this year and forecasting increased demand in China. The organization stated in a monthly report that …

  Read More »
• 12 October 2023 2:50 pm

  Britain’s economy turns to growth in August

  

  The UK’s GDP grew by about 0.2% last August, and by the same rate during the second quarter of 2023. According to data from the National Statistics Authority issued today, Thursday, the twelfth of October, the growth of the economy during August came after a contraction in the gross domestic …

  Read More »
• 12 October 2023 2:19 pm

  European stocks touch 3-week high after interest rate hike fears subside

  

  European stocks hit a three-week high on Thursday, supported by a new round of decline in government bond yields and investor relief due to dovish comments from Federal Reserve officials. The European STOXX 600 index rose 0.6 percent by 0711 GMT, with the mining and car manufacturing sectors leading the …

  Read More »
• 12 October 2023 12:11 pm

  US dollar hovers near two-week lows ahead of CPI data

  

  There was little change in the dollar, but it hovered near the lowest level in two weeks on Thursday, after the minutes of the last meeting of the Federal Reserve revealed that policymakers are taking a cautious stance, at a time when investors are awaiting key data on inflation in …

  Read More »
• 12 October 2023 1:35 am

  Market Drivers – US Session, October 11

  

  Gold broke above $1,860 and jumped to $1,875, boosted by lower yields and the weaker dollar. Silver joined the rally, climbing above $22.00.The US Dollar finished flat despite higher-than-expected US wholesale inflation and the release of the FOMC minutes. The Greenback remains weak as US yields continue to pull back. …

  Read More »
• 12 October 2023 1:23 am

  CPI Data Preview: Will inflation data support more interest rate hikes?

  

  Markets are eagerly awaiting September’s Consumer Price Index (CPI) report, with the Bureau of Labor Statistics set to release the report on Thursday. The unexpected rise in September’s Producer Price Index (PPI) has heightened anticipation for the upcoming Consumer Inflation Index, especially with the Federal Open Market Committee (FOMC) meeting …

  Read More »
• 12 October 2023 1:01 am

  Ahead of CPI figures, EUR/USD dips as traders left uncertain post-FOMC minutes

  

  A number of European Central Bank (ECB) officials’ neutral stance caused the Euro to suffer only minor losses against the US Dollar, although data from the US raised worries that the US Federal Reserve (Fed) might raise rates in response to an inflation report. Trading at 1.0598, the EUR/USD is …

  Read More »
• 11 October 2023 11:47 pm

  WTI dives on Saudi pledges for market stability

  

  Despite an earlier increase amid worries about an Israel-Hamas conflict, WTI crude falls to $82.86 per barrel as at the time of writing; down -1.93%. Price increases are tempered by Saudi Arabia’s commitment to market stability and potential intervention.Data on global inflation as well as US inflation and Russian output …

  Read More »
• 11 October 2023 11:03 pm

  Gold struggles to find momentum following FOMC minutes

  

  Gold’s minor gain on Wednesday has the pair pushing back to the 50% retracement region of the last top-to-bottom swing on the daily candles, and spot Gold bids are set for a challenge of the 50-day Simple Moving Average (SMA) near the $1,900 handle.Gold remains notably down from the year’s …

  Read More »
• 11 October 2023 10:08 pm

  FOMC minutes: Participants judged that risks had become more two-sided

  

  The FOMC minutes, released a few minutes ago, indicated that many policymakers and participants saw downside risks to economic activity and upside risks to the unemployment rate.Vast majority of participants just future path of economy as highly uncertain. More evidence needed to be confident price pressures ebbing. Several participants commented …

  Read More »