Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 20 October 2022 7:34 pm

  Sterling rallies on November hike bets, Liz Truss Departure

  

  The British Pound rallied on Thursday and investors reined in their bets on a big Bank of England interest rate hike in November as UK Prime Minister Liz Truss announced her resignation just six weeks after she was appointed.At the time of writing the GBP/USD pair is trading at 1.129 …

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• 20 October 2022 6:13 pm

  Market Drivers – European Session 20/10/2022

  

  The recently-elected UK Prime Minister Liz Truss makes a statement this Thursday saying she will resign. Truss will remain in place until a new leader is chosen and the leadership election will be completed in the next week. Given that the markets have been anticipating the UK PM’s resignation, the …

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• 20 October 2022 5:02 pm

  US: Weekly Initial Jobless Claims fall to 214K

  

  There were 214,000 initial jobless claims in the week ending October 14, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print follows the previous week’s downward revised reading of 226,000 and beats market expectations for a rise to 230,000. Further details of the …

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• 20 October 2022 5:01 pm

  Liz Truss to quit as prime minister

  

  Liz Truss is to issue a statement resigning as prime minister after just 45 days, following the near-complete evaporation of her political authority, a process begun by last month’s disastrous mini-budget. “It’s over,” a source said. Truss, who would become the shortest-serving prime minister in UK history, has been under …

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• 20 October 2022 3:18 pm

  Gold rises with dollar weakness and interest rate hike fears curb gains

  

  Gold prices rose on Thursday due to a slight decline in the dollar, although higher Treasury yields and the prospect of further interest rate hikes by the Federal Reserve capped gains. By 0909 GMT, spot gold rose 0.2 percent to $1,631.54 an ounce. US gold futures rose 0.1 percent to …

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• 20 October 2022 2:05 pm

  European shares fall as profits slump in chip maker Nokia

  

  European shares fell on Thursday, as investors worried about persistent inflation and tightened central bank measures, while slumping profits for chip maker B.E. Semiconductor and telecommunications company Nokia raised fears of an economic slowdown. Nokia shares fell 4.1 percent after the Finnish telecom equipment company’s quarterly operating profit fell short …

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• 20 October 2022 12:17 pm

  yen fell to its lowest level since 1990 at 150 against dollar

  

  The Japanese yen fell below 150 against the US dollar, levels since August 1990. It is scheduled to start scheduled for scheduled to start from two days. Policymakers have ruled out adopting a new policy to question the return of the policy. And on Thursday, Japan’s 10-year government debt yield …

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• 20 October 2022 11:05 am

  Gold is at its lowest level in 3 weeks, with rise of dollar and bond yields

  

  Gold prices hovered at a three-week low on Thursday, pressured by the rise in the dollar and the yield on Treasury bonds, amid fears that the Federal Reserve will continue to raise interest rates by a significant amount. And by 0049 GMT, gold fell in spot transactions 0.1 percent to …

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• 20 October 2022 10:30 am

  Oil rebounds amid news of possible easing of quarantine measures in China

  

  Oil prices rose nearly $1 on Thursday as investor sentiment rose on news that China is considering reducing the duration of the quarantine for arrivals. By 0610 GMT, Brent crude futures for December settlement rose 80 cents, or 0.9 percent, to $92.21 a barrel. West Texas Intermediate crude futures for …

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• 20 October 2022 3:24 am

  Market Drivers – US Session 19/10/2022

  

  The negative market mood erased Tuesday’s relative optimism. This sentiment has benefited the American Dollar on Wednesday, which extended its latest rally against major rival currencies.The trading day witnessed the release of fresh inflation reports that reminded traders of the high risk of a looming global recession.The EUR/USD pair finished …

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• 20 October 2022 2:59 am

  Bitcoin manages to hold on despite rate policy concerns

  

  Traders witnessed another day of battle for control of Bitcoin’s $19,200 support level, as there was seldom any change to the persistent choppy price action in the crypto market during trading on Wednesday.The US dollar’s Index, DXY, rebounded and so, spiked above 113 near midday after hitting a low of …

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• 20 October 2022 2:20 am

  Treasury yields touch highest since 2008

  

  Stocks moved lower on Wednesday as Wall Street struggled to extend its rally amid a sharp rise in Treasury yields. The Nasdaq Composite lost 0.85% to close at 10,680.51. The S&P 500 ticked down 0.67% to 3,695.16. The Dow Jones Industrial Average slipped 99.99 points, or 0.33%, to finish the …

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• 20 October 2022 1:00 am

  Gold nosedives to three-week lows

  

  Gold has been plagued by accelerating decline. On Wednesday, the precious material also hit fresh three-week lows below $1,630. Gold is trading at $1,628.60 per ounce at the time of writing.Meanwhile, the USD rallies on Fed officials signaling further tightening and soaring US yields. Gold has nosedived nearly 1.5% so …

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