Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 10 October 2023 8:41 pm

  IMF cut growth forecasts for China, Eurozone

  

  Despite the remarkable strength of the US economy, the International Monetary Fund has lowered its growth projections for China and the Eurozone, noting that overall global growth remains low and unequal. The IMF maintained its 3.0% prediction for global real GDP growth in 2023 but reduced its 3.0% prediction for …

  Read More »
• 10 October 2023 7:25 pm

  NY Fed: Year-ahead expected inflation edges higher

  

  The Federal Reserve Bank of New York’s latest Survey of Consumer Expectations showed on Tuesday that the US consumers’ one-year inflation expectation edged higher to 3.7% in September from 3.6% in August.The US Dollar stays under modest bearish pressure following this publication. As of writing, the US Dollar Index was …

  Read More »
• 10 October 2023 3:36 pm

  OPEC Secretary General: We will participate with representatives of the oil sector in the COP28 conference

  

  Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Tuesday that the world’s major oil producers and representatives of this sector will participate in the United Nations Climate Change Conference (COP28), scheduled to be held in the UAE next month. Al Ghais said that anyone …

  Read More »
• 10 October 2023 1:54 pm

  European stocks rebound as US bond yields rise

  

  European stocks rebounded strongly on Tuesday, as reassurance from US monetary policy officials about interest rates and a decline in oil prices helped calm investor fears after conflict in the Middle East fueled a rush towards safe-haven assets. The European STOXX 600 index rose 1 percent by 0709 GMT, after …

  Read More »
• 10 October 2023 12:28 pm

  Nikkei records best daily performance in 9 months thanks to Wall Street gains

  

  Japan’s Nikkei index recorded its largest daily gain in nine months on Tuesday, led by energy-related stocks, in light of the extension of risk appetite from Wall Street and investors’ eagerness to snap up declining stocks. The Nikkei closed up 2.43 percent at 31,746.53 points, recording its largest daily gain …

  Read More »
• 10 October 2023 11:49 am

  Gold continues to rise in light of the Middle East conflict and the decline of Dollar and Bonds

  

  Gold prices continued to rise on Tuesday, the day after achieving sharp gains due to increasing uncertainty in the market due to the conflict in the Middle East, as cautious statements issued by senior Federal Reserve officials affected the dollar and bond yields. By 0314 GMT, gold in spot transactions …

  Read More »
• 10 October 2023 11:10 am

  Oil declines due to fears of supply disruption as the Middle East conflict continues

  

  Oil prices fell slightly on Tuesday after rising more than four percent in the previous session as markets assessed the possibility of supply disruptions as the conflict between Israel and the Islamic Resistance Movement (Hamas) continued. By 0017 GMT, Brent crude fell 18 cents, or 0.2 percent, to $87.97 a …

  Read More »
• 10 October 2023 2:52 am

  Market Drivers – US Session, October 09

  

  The Middle East is a key focus for markets this week, with the Australian Westpac Consumer Confidence Index and the NAB Business Conditions survey due in the Asian session. The US CPI is expected to be the key report on Thursday. The US Dollar Index experienced a modest decline near …

  Read More »
• 10 October 2023 2:36 am

  Energy spikes, Defense Stocks surge on Middle East turmoil

  

  Gold and global bonds have seen a surge in value, while airline stocks have fallen. Investors are concerned that the Israel-Palestine war could escalate into a broader Middle Eastern conflict. Oil prices and defense stocks have climbed, with WTI crude oil at $86.38, up $3.59. US defense stocks, including Northrop …

  Read More »
• 9 October 2023 11:51 pm

  EUR/USD achieves some gains after knocking back on risk aversion

  

  The EUR/USD pair began Monday with a dip to 1.0519 before easing back. The Euro remains down against the US Dollar for Monday, but losses are paring back. Market sentiment is rebalancing after geopolitical escalations in the Gaza Strip. The Euro is testing upwards into 1.0570 after slipping down into …

  Read More »
• 9 October 2023 10:34 pm

  Wall Street declines on Middle East turmoil

  

  The CBOE volatility index (.VIX), Wall Street’s “fear gauge”, also rose to 18.54, reflecting investor anxiety. Amazon and Nvidia lead declines in Big Tech and several US airlines suspend Israel flights. Tesla falls on lower deliveries of China-made electric vehicles. Wall Street’s main indexes fell on Monday as a deepening …

  Read More »
• 9 October 2023 8:49 pm

  Sterling recovers on revived risk sentiment

  The Pound Sterling has experienced a sell-off due to the Middle East conflict, affecting the market mood. UK manufacturing and construction activities are currently in a vulnerable phase due to higher mortgage rates. The Fed is expected to keep one more interest rate hike in consideration, while the Bank of …

  Read More »
• 9 October 2023 7:39 pm

  Gold price finds momentum on deepened Middle East tensions

  

  Gold prices have recovered to around $1,850 due to the dismal market sentiment prompted by escalating tensions between Israel and Palestinians. The gold price is trading at $1852.43 per ounce at the time of writing. Dallas Federal Reserve Bank President Lorie Logan has also supported the gold price, drawing less …

  Read More »