Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2022

• 4 November 2022 3:15 am

  Market Drivers – US Session 03/11/2022

  

  The markets focused on the Bank of England on Thursday. BoE hiked its benchmark rate by 75 bps as expected. However, policymakers downwardly revised the growth forecast, anticipating the recession will continue into the future. The EURUSD pair hovers around 0.9750 after falling to 0.9729. Commodity-linked currencies extended their slides …

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• 4 November 2022 3:01 am

  KSA to lower oil prices for Asia, US expected to release more SPR

  

  The early Asia session witnessed some important news on the oil market which could influence and impact crude oil prices in the following sessions.The US Department of Energy said it sold 15 million barrels of oil from the Strategic Petroleum Reserve in what is mainly described as the last batch …

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• 4 November 2022 2:05 am

  As India takes the lead, Canada joins the crypto race

  

  Canada’s crypto adoption rose to 8%, with more than 2.6 million investors currently. In the 2022 budget, a government’s plan to launch a financial sector legislative review was announced.Quebec’s energy supplier, Hydro-Quebec, proposed cutting electricity off for blockchain operations. India also is leading crypto adoption on a global scale, but …

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• 4 November 2022 12:58 am

  Sterling sinks on firmer US dollar post BoE’s hike

  

  The US dollar is firmer and was able to record gains against major currencies on Thursday after Fed Chair Jerome Powell signaled US interest rates will likely peak at a higher level than markets expected, while sterling fell after the Bank of England raised rates but warned of a “very …

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• 4 November 2022 12:02 am

  Gold, US dollar traders await key NFP data

  

  Nonfarm Payrolls in the US are forecast to increase by 200,000 in October. Gold is likely to react slightly stronger to a disappointing jobs report than an upbeat one. Gold price action has no historical apparent connection with NFP deviation four hours after the data release.The US Dollar Index looks …

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• 3 November 2022 10:46 pm

  US shares slide on Fed’s hawkish signals

  

  Wall Street’s main indexes extended their stay in the red territory and recorded losses for a fourth straight session on Thursday as investors got more concerned that the US central bank could raise interest rates for longer than previously expected.Market participants were hoping that the Fed, which raised rates by …

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• 3 November 2022 9:39 pm

  Gold Price falls on the stronger US Dollar

  

  Gold price has become at the mercy of Federal Reserve’s tightening as the US Dollar extended its gains. The US ISM Services index remained at expansionary territory, but it’s decelerating. Gold price falls after the hawkish remarks by Fed’s Jerome Powell, who said that the “ultimate level of rates would …

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• 3 November 2022 8:23 pm

  NFP expected to lose steam in October

  

  On Friday, the US official employment report will be released. Analysts expect an increase in payrolls of 220K, slightly above the market consensus of 200K. They see the dollar trading in the direction of the data. Payrolls are expected to have continued to lose steam in October, reflecting modest deceleration …

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• 3 November 2022 7:32 pm

  GBPUSD expected to trade at 1.06 by the end of 2023 Q1

  

  Economists at Wells Fargo now forecast slightly less tightening from the Bank of England than previously. Subsequently, the GBPUSD pair is set to plunge toward 1.06 by the end of the first quarter of 2023. They also expect Policy rate to peak at 3.75%“We expect a 50 bps rate increase …

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• 3 November 2022 5:21 pm

  BOE hikes policy rate by 75 bps to 3% as expected

  

  Following its November policy meeting, the Bank of England (BoE) announced that it raised the policy rate by 75 basis points (bps) to 3%. Policymakers voted 7-2 in favour of this decision. One policymaker voted for a 25 bps hike and one voted for a 50 bps. Bank of England (BoE) …

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• 3 November 2022 4:54 pm

  Inflation in Turkey jumps to the highest level in 24 years at 85.5% after the interest rate cut

  

  Official data published on Thursday showed that inflation in Turkey rose in October year-on-year to a 24-year high of 85.51 percent, slightly less than expected after the central bank cut interest rates three times in three months despite rising prices. Inflation has risen since last year, with the lira plummeting …

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• 3 November 2022 3:08 pm

  Dollar rises as the US Central threatens to raise interest rates

  

  The dollar rose on Thursday, buoyed by a sharp rise in US Treasury yields after the Federal Reserve indicated that interest rates are likely to reach a peak higher than current investor expectations, while the pound fell ahead of its monetary policy meeting. for the Bank of England. On Wednesday, …

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• 3 November 2022 2:11 pm

  European stocks open sharply lower as the US central bank hints at a peak in interest rates

  

  European shares started trading sharply lower on Thursday after the Federal Reserve dashed any hopes of easing monetary tightening policies aimed at curbing inflation, and even hinted at smaller interest rate hikes for a longer period. The pan-European STOXX 600 index fell 0.9% by 0810 GMT, with interest-rate-sensitive European technology …

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