Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 11 October 2023 9:49 pm

  US Dollar trades flat after hot PPI figures ahead of FOMC minutes

  

  The US dollar is still having trouble gaining traction. In September, US PPI increased by 2.2% YoY, exceeding expectations. Later in the afternoon, the FOMC will make public its minutes from its meeting in September.Despite the tension between Israel and Hamas, markets are still wary. Following the publication of trending …

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• 11 October 2023 8:43 pm

  USD/JPY gains momentum ahead of FOMC minutes

  

  USD/JPY gained 0.20% on the day, rising above 149.00. The US PPI from September accelerated, beating expectations. The trajectory of the pair is determined by the dovish stance of the Bank of Japan (BoJ). Later in the session, markets will monitor the Federal Open Market Committee (FOMC) minutes from the …

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• 11 October 2023 8:04 pm

  Fed’s Waller: Markets are tightening and will do some of the work for us

  

  Fed Governor Christopher Waller noted on Wednesday that inflation data in the last three months has been “very good,” per Reuters. “If current trends continue, inflation will basically be back to the target,” Waller added.The US Dollar Index stays under modest bearish pressure following these comments and was last seen …

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• 11 October 2023 3:57 pm

  Yellen: The price ceiling for Russian oil reduced Moscow’s revenues “significantly”

  

  US Treasury Secretary Janet Yellen said on Wednesday that the ceiling imposed by the Group of Seven major industrialized countries on Russian oil prices led to a sharp decline in Russia’s revenues over the past 10 months. She added in statements prepared for a press conference on the sidelines of …

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• 11 October 2023 1:40 pm

  The Kremlin: It is difficult to underestimate the importance of oil coordination with Saudi Arabia at this time

  

  The Kremlin said on Wednesday that it is difficult to underestimate the importance of coordination between Russia, Saudi Arabia and other partners on global oil markets amid the escalation of the conflict between Israel and the Palestinian Islamic Resistance Movement (Hamas). Kremlin spokesman Dmitry Peskov added to reporters in a …

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• 11 October 2023 12:53 pm

  Japan’s Nikkei closes at a two-week high

  

  Japan’s Nikkei index closed at its highest level in two weeks on Wednesday, as shares of chip manufacturers led a rally on bets that the US Federal Reserve would pursue more accommodative monetary policies. The Nikkei index, which is dominated by technology companies, ended Wednesday 0.6 percent higher at 31,936.51 …

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• 11 October 2023 10:43 am

  Eyes on Fed minutes and PPI

  

  European markets experienced a notable upswing yesterday, reaching their highest levels in over a week. This occurred as financial markets adopted a more measured approach toward recent geopolitical events. Additionally, investors were contemplating the possibility of a stimulus plan in China and a subtle shift in tone from Fed policymakers …

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• 11 October 2023 1:38 am

  Market Drivers – US Session, October 10

  

  The US dollar suffered on Tuesday as Wall Street concluded with gains. The price of crude oil slightly declined while trading in narrow bands. Prices for commodities fluctuated, holding onto recent gains. The Middle East scenario is still a source of uncertainty.For the first time since August, the EUR/USD price …

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