Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 20 October 2023 12:23 pm

  European stocks are heading for a sharp weekly loss due to Middle East tensions

  

  European stocks fell on Friday and were on track for their biggest weekly loss in three months, as growing concerns about a broader conflict in the Middle East, rising government bond yields and disappointing corporate earnings reports pushed investors off risk. By 7:06 GMT, the European STOXX 600 index fell …

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• 20 October 2023 10:48 am

  Oil prices rose by more than 1% and are heading for the second weekly gain in a row

  

  Oil prices rose by more than 1% during Friday’s trading session and are heading towards the second consecutive weekly gain in light of the continuing conflict in the Middle East. In terms of trading, Brent crude futures rose by about 1% to $93.33 per barrel. US crude contracts also rose …

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• 20 October 2023 10:06 am

  Gold is at a 3-month peak due to the conflict in the Middle East

  

  Gold prices rose to their highest levels in three months on Friday and were on track for a second straight weekly gain on rising demand boosted by conflict in the Middle East and expectations that interest rate hikes by the Federal Reserve are nearing an end. By 0332 GMT, gold …

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• 19 October 2023 9:29 pm

  US stocks fall following Powell’s speech

  

  US stocks fell on Thursday as Wall Street parsed comments from Federal Reserve Chair Jerome Powell while monitoring a key milestone for a closely followed bond yield. The S&P 500 slipped 0.2%, while the Nasdaq Composite shed 0.3%. The Dow Jones Industrial Average lost 21 points, or 0.1%. Powell said …

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• 19 October 2023 8:20 pm

  Powell: Tightening in financial conditions can have implications for policy

  

  Jerome Powell, Chairman of the Federal Reserve (Fed), prepared remarks for delivery to the Economic Club of New York showed that Powell will say that significant tightening in financial conditions with higher bond yields can have implications for the policy. Powell will add that the policy setting committee is “proceeding …

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• 19 October 2023 7:35 pm

  Could Powell’s speech reshape rate-hike outlook before blackout period?

  

  Before the Economic Club of New York, Fed Chairman Jerome Powell is scheduled to deliver prepared remarks that are anticipated to increase market volatility and offer crucial details on the Fed’s upcoming policy move. The speech will likely be closely watched by the markets because it will be delivered just …

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• 19 October 2023 1:35 pm

  USD maintains its gains ahead of FED Chairman’s statements

  

  The dollar maintained its gains against rival currencies on Thursday ahead of comments by Federal Reserve Chairman Jerome Powell as expectations grew that the bank would keep interest rates high for longer. The US currency pushed the yen to hover around its lowest levels in two weeks, which it recorded …

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• 19 October 2023 1:04 pm

  European stocks decline with risk aversion due to poor corporate results

  

  European stocks fell about 1 percent on Thursday as risk aversion was exacerbated by poor results for companies, including food company Nestlé, as a result of tensions caused by the war in the Middle East and uncertainty over interest rates. By 0705 GMT, the European STOXX 600 index fell 0.8 …

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• 19 October 2023 12:21 pm

  Japan’s Nikkei closes lower due to expectations of monetary tightening and Middle East conflict

  

  Japan’s Nikkei index closed down about 2 percent on Thursday, tracking a wave of profit-taking stock selling on Wall Street after strong US economic data reinforced bets on monetary tightening by the Federal Reserve, while tensions in the Middle East also increased risk aversion. Chip-related stocks underperformed noticeably after traders …

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• 19 October 2023 10:56 am

  Gold maintains its luster in light of the Middle East conflict

  

  Gold prices hovered near the highest level in two and a half months on Thursday, as escalating unrest in the Middle East boosted demand for a safe investment haven. At the same time, investors awaited a speech by Federal Reserve Chairman Jerome Powell scheduled for later on Thursday. By 0318 …

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• 19 October 2023 5:53 am

  Market Drivers – US Session, October 18

  

  Gold initially jumped and reached $1,963, its highest level in two months, despite the moves in the bond market. The yellow metal later pulled back and settled around $1,950.The positive market sentiment that followed bright economic data from China was offset by rising tensions in the Middle East, higher yields …

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• 19 October 2023 1:47 am

  Fed’s Bowman: Inflation has come down but remains too high

  

  Federal Reserve (Fed) Governor Michelle W. Bowman commented at a Fed Listens event on Thursday that inflation in the US has come down but is still too high. At the time of press, the US Dollar Index was down 0.02% on the day at 106.54.Key Quotes “What has been somewhat …

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• 19 October 2023 12:28 am

  US dollar gains ground amid sour market mood, Fed’s Beige Book

  

  Due to sour market sentiment and the Fed’s Beige report, which revealed no material changes in economic activity since the September report, the US Dollar gained ground on Wednesday. Although US housing starts from September disappointed, building permits performed better than anticipated. The US Dollar Index reached a high of …

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