Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 16 October 2023 11:57 pm

  GBP/JPY rebounds on dovish BoE

  

  The GBP/JPY is rebounding from last week’s dip. It is a heavy week on the economic calendar for the Pound Sterling, with wages, inflation, and Retail Sales inbound.Dovish comments from BoE officials are capping upside potential for the GBP. The GBP/JPY is seeing gains for Monday, trading into 182.50 after …

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• 16 October 2023 10:58 pm

  China’s strong imports raise questions on weak economic outlook

  

  China’s imports of major commodities continued resilient in September, despite all the discussion that insisted that the Chinese economy is struggling for momentum. Imports of crude oil, natural gas, coal, and iron ore dropped slightly from August, but all were higher than in September last year. The first nine months …

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• 16 October 2023 9:57 pm

  US stocks surge with main focus on corporate earnings

  

  Wall Street’s main indexes advanced on Monday as investors awaited key economic data and major corporate earnings this week for clues on the U.S. economy and monitoring the Israel-Hamas conflict. Long-dated US Treasury yields gained as the United States sought to prevent an escalation in tensions, with Secretary of State …

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• 16 October 2023 8:46 pm

  BoC Survey: Consumers think interest rates will go up over next 12 months

  

  The BoC noted in its Business Outlook Survey for the third quarter on Monday that consumers thought that interest rates will go up over the next 12 months.USD/CAD stays under modest bearish pressure in the American session and the pair was last seen losing 0.23% on the day at 1.3625.Key …

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• 16 October 2023 7:41 pm

  Fed’s Harker: Higher Rates Contribute to Rising Home Prices

  

  Federal Reserve Bank of Philadelphia President Patrick Harker said higher interest rates are making it more challenging for first-time home buyers by raising borrowing costs and limiting inventory, which is also leading to higher home prices.Higher rates discourage current owners from listing their homes for sale, which puts a crunch …

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• 16 October 2023 3:38 pm

  Euro Holds Strong Above 1.0500 Mark, Dollar Faces Downward Pressure

  

  The Euro (EUR) commenced the new trading week on a positive note against the US Dollar (USD), leading to an extension of EUR/USD’s rebound from the 1.0500 level, ultimately regaining the 1.0540 zone on Monday. The US Dollar (USD) experienced a slight decline, retreating from last week’s peak near 106.80 …

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• 16 October 2023 2:02 pm

  AUD consolidates post-intraday gains

  

  The Australian Dollar (AUD) started the week by recovering from a three-day losing streak, showing strength against the US Dollar. This positive movement followed a period of challenges, possibly influenced by shifting discussions regarding the trajectory of the US Federal Reserve’s (Fed) monetary policy. Investors are closely watching the Reserve …

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• 16 October 2023 12:54 pm

  European stocks rise supported by mining sector and investors keep an eye on the Middle East

  

  European stocks rose on Monday, led by gains made by mining companies amid optimism about demand from China, the largest consumer. However, trading witnessed a cautious approach as investors evaluated the possibilities of escalating conflict in the Middle East. The European STOXX 600 index rose 0.4 percent by 0707 GMT. …

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• 16 October 2023 11:55 am

  Japan’s Nikkei index fell as investor sentiment was affected by tension in the Middle East

  

  Japan’s Nikkei index fell by more than two percent on Monday, affected by a decline in stocks related to the chip manufacturing sector and in light of a decline in risk appetite due to escalating tension in the Middle East. The Nikkei index fell 2.03 percent, closing at 31,659.03 points. …

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• 16 October 2023 11:31 am

  Gold retreats from the highest level in a month as investors’ fears of war escalate

  

  Gold prices fell on Monday after reaching the highest level in nearly a month, with escalating fears of the conflict between Israel and the Islamic Resistance Movement (Hamas), which pushed the precious metal to rise by more than three percent in the previous session. By 0102 GMT, gold in spot …

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• 16 October 2023 9:54 am

  Oil declines as investors assess the repercussions of unrest in the Middle East

  

  Oil prices fell on Monday, with Friday’s rise relatively subsiding as investors awaited the repercussions of the conflict between Israel and the Islamic Resistance Movement (Hamas) on other countries, which could push prices up and deal a new blow to the global economy. Brent crude futures fell 34 cents, or …

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• 16 October 2023 7:47 am

  Financial Markets’ Weekly Recap

  

  Gold Gold prices surged last week, driven by safe-haven demand amid escalating geopolitical tensions. The rally began as Israel declared war and launched a military operation against the Palestinian militant group Hamas after an unprecedented attack on Israel. Gold, being a traditional safe-haven asset, gained 1.6% on Monday, marking its …

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• 14 October 2023 2:11 am

  Market Drivers – US Session, October 13

  

  Following a decline on Thursday due to negative market sentiment, the Canadian dollar saw a minor recovery on Friday. Following a CPI inflation beat, investors supported the US dollar over worries that Fed interest rates would remain high. The Canadian currency, tied to crude oil price movement, is also strengthening …

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