Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2022

• 7 November 2022 4:29 am

  Financial Markets’ Weekly Recap October 31 – November 4

  

  Significant events dominated price action across global financial markets last week, including Fed’s rate decision and US NFP data, namely the most important events of the monthFOMC Decision, US Rate Hike The Fed raised interest rates by 75 points last week, bringing the accumulative key rate to 4.00%, after raising …

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• 5 November 2022 3:25 am

  Market Drivers – US Session 04/11/2022

  

  The US dollar fell on Friday after the release of the country’s nonfarm payrolls report for October. The latest NFP reading indicated that the world’s largest economy created more new jobs than expected, but also flashed other signs of economic slowdown with a higher unemployment rate and lower wage inflation.The …

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• 5 November 2022 2:30 am

  Oil climbs as dollar slips and supply risks linger

  

  Oil climbed on Friday as the dollar eased and supply risks remained, though recession fears and China’s COVID outbreaks kept a check on prices.Brent crude futures were and were able to touch the high of $96.51 a barrel at 0740 GMT, and eventually closed at $94.14. The contract is headed …

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• 5 November 2022 1:28 am

  Musk slashes Twitter’s workforce on claims about revenues

  

  News outlets published claims that Twitter’s entire curation team was fired. Elon Musk ended his first week as Twitter’s owner with an indelible mark by slashing, by some estimates, up to half of the company’s workforce with little notice and abruptly cutting off employees’ access to their computers and work …

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• 5 November 2022 12:19 am

  Fed’s Reaction To US Payrolls Data

  

  The US economy added more jobs than expected in October even as the Fed pressed on with the central bank’s most aggressive monetary tightening campaign in decades.Friday’s figure effectively serves as a catalyst for Fed policymakers to proceed with further rate hikes, particularly after messaging from Fed Chair Jerome Powell …

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• 4 November 2022 11:41 pm

  Australian Dollar Rallies Amid Risk On Session

  

  The Australian dollar rallies 2.5% on the day to hit session highs at 0.6470. Risk appetite and the US employment report have boosted the AUD.The Australian dollar is going through an extraordinary recovery on Friday, rallying about 2.5% on the day amid a favorable market sentiment, to regain most of …

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• 4 November 2022 10:43 pm

  Global shares rise on weaker dollar after strong jobs data

  

  Global shares rose while the US dollar fell on Friday after better-than-expected jobs data provided clues the tightness in the American labor market was starting to ease, raising hopes the Federal Reserve could soften its stance on interest rates.Data from the Bureau of Labor Statistics showed the U.S. economy generated …

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• 4 November 2022 9:37 pm

  Canada’s Employment data supports the call for a 50bp hike in December

  

  The Canadian employment data, o Thursday, surpassed expectations with a positive change in employment of 108K above the 10K of market consensus. The surge could be a signal that some of the declines seen over the summer were simply statistical noise. Accordingly, the data support the call for a further …

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• 4 November 2022 8:29 pm

  Gold Rallies As US Dollar Struggles Post NFP

  

  The American Dollar faces difficulty finding ground, it is down by 1.39%, as the US Dollar Index reading reflects. Speculations that the US central bank could tighten in smaller increases mounted as the labour market gave signs of easing.The US 2s-10s yield curve inversion, the deepest since the 1980s, and …

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• 4 November 2022 7:31 pm

  EUR/USD faces risk to fall to 0.95 in the weeks ahead

  

  Some economists have revised down their EUR/USD forecast. Accordingly, the pair is expected to slump towards the 0.95 mark.It is not clear if the ECB can support the EUR with rates hikes. The EUR is not fully priced for the headwinds facing the Eurozone economy.There are no guarantees currently that …

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• 4 November 2022 4:49 pm

  US Nonfarm Payrolls rise by 261,000 in October vs. 200,000 expected

  

  Nonfarm Payrolls in the US rose by 261,000 in October, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000. Additionally, September’s reading got revised higher to 315,000 from 263,000. The Unemployment Rate edged higher …

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• 4 November 2022 3:18 pm

  Dollar rises on hopes of easing Covid restrictions in China, US employment data awaits

  

  The euro and the pound sterling recouped some of their losses on Friday, but were still heading for their biggest weekly decline since September, ahead of US employment data that could confirm Federal Reserve Chairman Jerome Powell’s hint this week of continued monetary tightening, sending the dollar higher. Improved investor …

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• 4 November 2022 1:41 pm

  European shares open higher, supported by luxury goods and mining companies

  

  European shares opened higher on Friday, with luxury goods and mining companies leading the upward trend amid hopes that China will soon ease its strict restrictions related to the fight against the Coronavirus. The Stoxx 600 index rose 0.7% by 0813 GMT, supported by a 3.2% jump in mining stocks, …

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