Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 21 October 2022 4:30 pm

  Yuan slips near 14-year lows against the dollar

  

  The Chinese yuan fell during Friday’s trading, near its lowest level in 14 years against the dollar, bringing its losses this year to 12.3%. And according to Bloomberg, market watchers expect further yuan weakness after the Communist Party congress ends this weekend, with the central bank loosening its grip on …

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• 21 October 2022 2:33 pm

  Oil prices fall as hopes of increasing Chinese demand fade

  

  Oil prices fell on Friday for a second week as investor concerns about the impact of sharp increases in interest rates on energy consumption dashed hopes related to rising Chinese demand and production cuts by the Organization of the Petroleum Exporting Countries and its allies. Patrick Harker, Federal Reserve Chairman …

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• 21 October 2022 1:45 pm

  European stocks fall as inflation and slowdown fears dominate the markets

  

  European shares fell on Friday, amid fears that major central banks will stick to raising interest rates to curb prices, while investors assessed mixed earnings reports that did little to allay fears of an economic slowdown. A slew of inflation reports and data pointing to the strength of the US …

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• 21 October 2022 12:11 pm

  The Nikkei index closes below the level of 27 thousand points, and chip stocks limit losses

  

  The Japanese Nikkei index ended Friday’s trading below the main 27 thousand points level, affected by declines recorded by Wall Street Thursday night, amid fears that the announcement of the Federal Reserve (the US central bank) of a sharp interest rate hike could cause a recession. But the losses were …

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• 21 October 2022 10:52 am

  Oil stabilizes, affected by interest rate hike fears

  

  Oil prices approached stability on Friday, as optimism about a possible increase in energy demand in China dashed and markets weighed on fears of rising inflation. Brent crude futures fell 12 cents to trade at $92.26 a barrel by 0219 GMT. West Texas Intermediate crude futures fell four cents to …

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• 21 October 2022 3:22 am

  Market Drivers – US Session 20/10/2022

  

  Soaring treasury yields managed to save the US dollar on Thursday. The American currency started the trading day with negative performance, but later was able to trim intraday losses and finished the day little changed against most major rival currencies.The yield on the 10-year US Treasury note picked at 4.23%, …

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• 21 October 2022 2:39 am

  Gold struggles amid hawkish signals

  

  The gold price has moved back to flat position on the day to print around $1,629.25 after moving between the $1,622.54 low and the $1,628.93 high for most of the session, reversing two losing sessions as the US dollar eased. At the time of writing the precious metal is trading …

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• 21 October 2022 1:19 am

  EUR/USD surges on stronger dollar

  

  The EUR/USD pair is trading at 0.9783 at the time of writing versus Wednesday’s 0.97815 level. The pair edged up into the close on Wall Street by 0.12% as the US dollar pauses the soaring US yield environment and despite markets pricing in the Federal Reserve’s terminal rate of around …

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• 21 October 2022 12:18 am

  Musk’s Puzzle, plans to sell, insists Tesla shares are only going up

  

  Tesla CEO claimed that his company would be worth more than Apple and Saudi Aramco, combined. Namely over $10 trillion. Tesla’s market value is $650 billion, down 7% after the e-vehicle maker had missed a projection of 50% growth in 2022.Musk’s words would logically imply that Tesla shares are an …

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• 20 October 2022 11:13 pm

  UK Bond traders warn against anything but tightening

  

  Traders in UK government bonds were unintentionally contributing to toppling Liz Truss from the premier position. So, what could be the next goal? Perhaps the logical next goal is to ensure that the successor of Truss will stick to the fiscal discipline required to prop up the UK’s fragile financial …

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• 20 October 2022 10:12 pm

  Fed’s Cook, Harker Still Support Aggressive Stance

  

  On Thursday, Federal Reserve Governor Lisa Cook said that inflation in the US is still remains unacceptably high and interest rates will need to keep rising to get it under control.According to Cook, “Inflation is too high, it must come down and we will keep at it until the job …

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• 20 October 2022 9:21 pm

  Could Boris Johnson run in Tory leadership race?

  

  After UK PM Liz Truss resigned on Thursday, she became the shortest-serving prime minister in history. Attention is now set on the Tory leadership race.The election at the Conservative Party could take place Friday, Saturday and Sunday, according to UK newspapers. In case of having an outright winner, the new …

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• 20 October 2022 8:27 pm

  WTI trades higher on several factors

  

  WTI futures are trading higher for the second consecutive day on Thursday, to depart the last two weeks’ downtrend. WTI crude has extended its recovery from Tuesday’s lows at $82.15 to session highs at $87.10 before retreating around $86.00 zone. The American crude is trading at $84.47 per barrel at …

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