Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 23 September 2022 1:39 am

  Gold Keeps Firm Despite USD’s Resurgence

  

  Gold has managed to hold firm despite the resurgence of the US dollar. Gold’s safe-haven appeal is still supporting the price within the familiar daily trading range.The gold price is settling in for the end of the North American session around flat for the day having traveled between a low …

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• 23 September 2022 12:31 am

  Oil rises on Russian supply concerns

  

  Oil surged on Thursday during a volatile US trading session while investors’ focus shifts to accelerating concerns related to Russian oil supply and as the BoE’s interest rate hike that came less than expected.Brent crude futures are trading at $89.59 at the time of writing, namely crude price has gained …

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• 22 September 2022 11:24 pm

  BoE’s Haskel sees tension with government fiscal policy

  

  The Bank of England’s policymaker Jonathan Haskel said the central bank encountered difficulty as the government’s expansionary fiscal policy appeared to place it at odds with the BoE’s efforts to cool inflation.“We are in a difficult, uncomfortable position, frankly, because I don’t like being in a situation where you have …

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• 22 September 2022 10:29 pm

  EUR/USD fluctuates on softer US dollar

  

  The EUR/USD pair bounces off year-to-date lows around 0.9800 as price action gets overstretched. The prevalent market sentiment is negative and failed to reinforce the US dollar.US jobless claims were better than expected, while the EU’s consumer confidence is disappointing the Eurozone. The Euro is almost flat after hitting a …

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• 22 September 2022 9:38 pm

  What could Italian elections mean for bonds, euro and banks?

  

  The general election in Italy could add some more trouble to Europe’s heap of existing troubles including the war in the east, the hot inflation and the looming energy crisis.Forecasts indicate that power in Italy could be driven to the far-right coalition led by Giorgia Meloni from “the Brothers of …

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• 22 September 2022 8:47 pm

  US stocks fall on recession-linked concerns

  

  US stocks fell on Thursday, for the third successive day after the Fed delivered another aggressive 75 base point rate hike. The monetary policy decision, originally meant to encounter hot inflation, triggered anew fears that the US economy could fall into a recession.The Dow Jones Industrial Average was last down …

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• 22 September 2022 7:36 pm

  Big US banks’ prime rate soars to highest since 2008

  

  Three major US banks are raising their prime lending rates to the highest levels since the global financial crisis of 2008, following Fed’s interest rate hike.JPMorgan Chase & Co (JPM.N), Citigroup Inc and Wells Fargo & Co (WFC.N) said the new rates, including the latest 75 basis point hike, would …

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• 22 September 2022 7:02 pm

  Eurozone Consumer Confidence Falls to Record Low

  

  Consumer confidence in the eurozone retreated to record low in September amid accelerating concerns about increased costs of living and slowdown of the EU economy. The European Commission said Thursday that its measure of consumer confidence in the region fell by 3.8 points in September from the August reading. The …

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• 22 September 2022 5:30 pm

  Weekly Initial Jobless Claims rise to 213K

  

  There were 213,000 initial jobless claims in the week ending September 17, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 208,000 (revised from 213,000) and came in better than the market expectation of 218,000. Further details …

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• 22 September 2022 4:28 pm

  Gold trims its losses as dollar declines

  

  Gold prices pared losses on Thursday as the dollar retreated from a two-decade high, although pressure continued on the precious metal amid rising US bond yields and hawkish comments on interest rate hikes from the Federal Reserve. And gold fell in spot transactions 0.2 percent, recording 1670.40 dollars an ounce …

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• 22 September 2022 3:30 pm

  BOE hikes policy rate by 50 bps to 2.25% as expected

  

  Following its September policy meeting, the Bank of England (BoE) announced that it raised the policy rate by 50 basis points (bps) to 2.25%. Although this decision aligned with the market expectation, futures markets were pricing in a strong chance of a 75 bps hike. The GBP/USD pair meets with a …

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• 22 September 2022 2:59 pm

  The yen rises after Japan intervened to support the currency for the first time since 1998

  

  The Japanese yen rose sharply Thursday, September 22, after authorities intervened in the foreign exchange market for the first time since 1998 to prop up the tumbling currency. The dollar fell to 140.31 yen, and fell in the last trading 1.2% to 142.37 in highly volatile transactions. The yen also …

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• 22 September 2022 2:08 pm

  SNB hikes interest rates by 75 basis points

  

  The Swiss Central Bank raised interest rates Thursday, September 22, by 75 basis points for the second time in a row during the third quarter of 2022, to levels of 0.5% from -0.25%. The rise came by 75 basis points to -0.25% on June 16, which was the first rate …

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