Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 28 September 2022 7:29 pm

  UK’s Kwarteng won’t resign, no reversal in policy

  

  It was reported on Wednesday that British Finance Minister Kwai Kwarteng will not resign over the market reaction to the fiscal plan and added that there will no reversal of policy.Meanwhile, the Bank of England announced the gilt market intervention amid growing fears overs insolvencies of pension funds by as …

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• 28 September 2022 6:09 pm

  Market Drivers – European Session 28/9/2022

  

  The rise of the dollar against sterling was also affected by British domestic factors, after the British government announced last week a plan to cut taxes and increase borrowing. This decreased sterling to $1.0327 on Monday, a record low, after settling near the $1.1300 level ahead of the UK’s budget …

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• 28 September 2022 5:43 pm

  Gold loses its luster and hits its lowest level in 30 months

  

  On Wednesday, gold prices hit a new low, the lowest in 30 months, as the allure of the precious metal was undermined amid the rise in the dollar and US Treasury yields due to expectations of a sharper rate hike by the Federal Reserve. By 0854 GMT, spot gold fell …

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• 28 September 2022 4:06 pm

  Oil prices stabilize after the dollar’s rise compensated for the decline in US production

  

  Oil prices stabilized on Wednesday as a stronger dollar and rising crude oil inventories offset the decline in US production caused by Hurricane Ian. Brent crude futures rose five cents, or 0.06 percent, to $86.32 a barrel by 0937 GMT, while West Texas Intermediate crude fell nine cents, or 0.1 …

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• 28 September 2022 2:59 pm

  USD is at its highest level in 20 years and the sterling is under pressure

  Nervous financial markets pushed the dollar to a two-decade high on Wednesday, Sept. 28, as rising interest rates around the world fueled recession fears. The pound slid further after recent warnings about Britain’s tax cut plans. The US dollar index rose by about 0.5% to a new record level at …

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• 28 September 2022 1:35 pm

  European stocks fall at the open on increasing recession fears

  

  European shares opened lower on Wednesday, led by heavy selling in Asian markets as the escalating energy crisis in the region and the continued rise in global bond yields fueled fears of a recession. The European Stoxx 600 index fell 0.8 percent by 0707 GMT, to continue its decline for …

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• 28 September 2022 12:54 pm

  Japan’s Nikkei closes near 3-month low, hit by recession fears

  

  Japan’s Nikkei index ended trading on Wednesday near its lowest level in three months, as mounting fears of a global recession weighed on Wall Street on Tuesday evening and a media report that Apple Inc. abandoned plans to produce more iPhone phones, dented sentiment. The Nikkei fell 1.5 percent to …

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• 28 September 2022 12:00 pm

  The World Bank approves $512 million for housing and infrastructure in Turkey

  

  The World Bank said on Wednesday it had approved $512.2 million in financing for Turkey to boost the resilience of the housing and infrastructure sectors to climate change and natural hazards. The bank said in a statement that $338.5 million of the financing would be used to develop new affordable …

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• 28 September 2022 11:26 am

  Gold falls as dollar rises, bond yields rise to multi-year highs

  

  Gold prices fell on Wednesday as the dollar and US Treasury yields rose to multi-year highs after hawkish comments from Federal Reserve officials boosted expectations of a sharp interest rate hike. By 0404 GMT, spot gold fell 0.3 percent to $1,624.12 an ounce, close to the two-and-a-half year low of …

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• 28 September 2022 3:16 am

  Market Drivers – US Session 27/09/2022

  

  The US dollar has further benefited from the recession-linked woes. Early Tuesday, the dollar received a further push from better-than-expected US data, on the contrary, Wall Street exhibited poor performance amid sour market sentiment.US bond yields started the day retreating from multi-year highs, picking up after the US session’s opening …

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• 28 September 2022 2:35 am

  EUR/USD around 20 year lows

  

  The EUR/USD is pressured and teasing two-decade low marked earlier in the week. Russia’s Nord Stream gas pipeline leaks, in the Baltic Sea, renewed fears about Europe’s energy crisis, and at the same time raised recession-linked fears. The EUR/USD pair holds lower grounds around the yearly bottom marked on Monday, …

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• 28 September 2022 1:49 am

  EU warns of suspected Nord Stream sabotage

  

  European Commission chief Ursula von der Leyen on Tuesday said the leaks of the Nord Stream pipelines were caused by sabotage.The EU’s official also warned of the “strongest possible response” should active European energy infrastructure be attacked.Ursula von der Leyen spoke to Danish Prime Minister Mette Frederiksen on the sabotage …

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• 28 September 2022 1:07 am

  Bitcoin fails to hold $20K after Powell’s remarks

  

  Bitcoin price is attempting to recapture $20,000 as support failed, the most famous cryptocurrency is trading at $19,045, namely below $19,100 but data still reveals some positive news. Earlier on Tuesday, markets briefly flashed green as equity markets bounced back from Monday’s pullback, bringing the Bitcoin price back to the …

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