Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 14 October 2022 11:20 pm

  Crude Oil retreats on recession worries

  

  Oil prices fell more than 3% on Friday as global recession fears and weak oil demand, especially in China, balanced support from a large cut of supply target by the OPEC+ alliance.Brent crude futures dropped to settle at $92.39 a barrel versus the opening level at $95.295, while US crude, …

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• 14 October 2022 10:17 pm

  EUR/USD drops amid deteriorated market sentiment

  

  The EUR/USD pair has erased Thursday’s gains, losing 0.53% on Friday. US Consumer Sentiment improved, though Retail Sales slowed down.The EUR/USD daily chart illustrates the major stalled at the 20-day EMA, which exacerbated a fall towards the 0.9720 area. Key support lies at 0.9700, which, once cleared, could open the …

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• 14 October 2022 9:33 pm

  Pound Struggles, Truss Reverses Plan, UK Finance Minister Fired

  

  In an unambiguous retreat, British Premier Liz Truss, on Friday, fired her finance minister and partly reversed the tax plan, she previously supported, because the said plan rattled global financial markets, and incited investors’ concerns and fueled a political crisis that still threatens the political future of Liz Truss herself. …

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• 14 October 2022 9:13 pm

  US Stocks slide amid market volatility

  

  Stocks retreated on Friday, and generally gave up earlier gains during the session one day after posting a historic turnaround rally as investors digested inflation expectations.The Dow Jones Industrial Average fell 283 points, or 0.94%. The S&P 500 shed 1.82%, and the Nasdaq Composite slipped 2.32%.Stocks fell to session lows …

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• 14 October 2022 8:47 pm

  US Treasury seeks ways to improve liquidity

  

  A regular survey ahead of the quarterly refunding announcements was used by the US Treasury Department in order to ask major banks whether the government should buy back government bonds to improve the market liquidity.“The Treasury is also querying whether reduced volatility in the issuance of Treasury bills as a …

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• 14 October 2022 7:32 pm

  Fed’s Daly: We will have to be data-dependent on rate hikes

  

  In an interview with Yahoo Finance on Friday, San Francisco Fed President Mary Daly said that this week’s Consumer Price Index data was not so surprising, noting that it’s a lagging indicator.The US Dollar Index was seen rising 0.55% on the day at 112.87 after these comments.Key Quotes“Today’s retail sales …

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• 14 October 2022 4:46 pm

  US: Retail Sales stay unchanged at $684 billion in September

  

  The data published by the US Census Bureau showed on Friday that Retail Sales in the US, adjusted for seasonal variation, holiday and trading-day differences but not for price changes, stayed virtually unchanged at $684 billion in September. This reading followed August’s increase of 0.4% and came in below the …

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• 14 October 2022 3:51 pm

  UK Finance Minister Kwarteng has been sacked – BBC

  

  According to the BBC, Prime Minister Liz Truss has sacked British Finance Minister Kwasi Kwarteng. Reporting on the matter, “The Telegraph now understands that Liz Truss is set to remove Kwasi Kwarteng as Chancellor this afternoon,” The Telegraph tweeted. “It was thought the PM’s press conference would be held at …

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• 14 October 2022 3:15 pm

  Eurozone posts record trade deficit in August as energy prices soar

  

  Official estimates revealed on Friday that the eurozone recorded its largest trade deficit in August since it had 19 member states in 2015, as the import bill rose as energy prices rose. The European Union’s statistics office (Eurostat) said the euro zone’s merchandise trade balance with the rest of the …

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• 14 October 2022 2:10 pm

  Oil rises, affected by weak dollar and lower US fuel stocks

  

  Oil prices compensated for losses incurred earlier in the session and rose in Asian transactions on Friday, supported by the weakness of the dollar and the decline in US fuel stocks. At the same time, a row continues between Saudi Arabia and the United States over plans by the OPEC …

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• 14 October 2022 12:18 pm

  Japan shares rise to the highest level in 7 months

  

  Japanese stocks rebounded on Friday, boosted by the strong performance of Fast Retailing as investors appeared to ignore US inflation data that fueled bets for a US Federal Reserve interest rate hike next month. The Nikkei average rose 3.25 percent to 27,090.76 points, its biggest daily percentage gain since March …

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• 14 October 2022 12:17 pm

  Gold is heading to record a weekly loss

  

  Gold prices rose on Friday, supported by the decline in the dollar and US Treasury yields, but increased expectations of another big hike in US interest rates kept the precious metal on course for a weekly decline. And the price of gold in spot transactions rose 0.3 percent to $ …

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• 14 October 2022 7:38 am

  Market Drivers – US Session 13/10/2022

  

  US inflation on Thursday was behind some wild, volatile moves. Fed is widely expected to decide a 75 bps rate hike in November and a peak policy rate of 4.85% in March 2023. The initial reaction to CPI data release the news was negative. Wall Street retreated, yields soared, and …

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