Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2022

• 2 November 2022 10:23 pm

  Gold Price rallies after FOMC’s dovish language

  

  Gold prices have shot higher on a hint of dovishness in today’s interest rate statement and policy decision by the Federal Open Market committee. The vote was unanimous in favour of the policy whereby the Fed hiked by 75bps, setting the target range at 3.75% – 4.00%. Gold is up …

  Read More »
• 2 November 2022 10:03 pm

  Breaking: Fed hikes policy rate by 75 bps to 3.75-4% as expected

  

  The US Federal Reserve on Wednesday announced that it raised the policy rate, federal funds rate, by 75 bps to the range of 3.75-4% following the November’s two-day monetary policy meeting. This decision came in line with the market expectation. This is the fourth Fed’s interest rate hike in a …

  Read More »
• 2 November 2022 9:24 pm

  EUR/GBP in range below 0.8625 ahead of the FOMC

  

  The euro remains stalled below 0.8625 for the second consecutive day. The market is calm ahead of the FOMC. On Thursday, the BoE is expected to deliver a “dovish hike”.The euro has remained trading within a narrow range against the British pound for the second consecutive day. The pair has …

  Read More »
• 2 November 2022 8:17 pm

  Can Rishi Sunak Help The Stock Market?

  

  Sunak has acknowledged that his country is dealing with “profound economic challenges,” and he is stepping in at a pivotal time as the country needs some stability. Sunak is feeling the pressure of trying to gain investors’ confidence following the financial fallout caused by last month’s controversial tax cuts.The markets …

  Read More »
• 2 November 2022 7:21 pm

  US shares fall as Wall Street prepares for FOMC decision

  

  The Dow Jones Industrial Average dropped 105 points, or 0.3%. The S&P 500 and Nasdaq Composite retreated 0.5% and 0.7%, respectively. So, Stocks fell Wednesday as investors await the Federal Reserve’s latest rate decision at the conclusion of its two-day policy meeting.The Fed is widely expected to announce a 0.75 …

  Read More »
• 2 November 2022 4:49 pm

  US: ADP Employment Change rises 239K in October

  

  The data published by Automatic Data Processing (ADP) showed on Wednesday that private sector employment in the US rose by 239,000 in October. This reading came in better than the market expectation of 193,000. September print of 208,000 got revised down to 192,000. Commenting on the data, “this is a …

  Read More »
• 2 November 2022 3:49 pm

  European stocks open higher ahead of the Fed’s rate decision

  

  European shares started trading higher on Wednesday, boosted by the rise of the Danish pharmaceutical company Novo Nordisk, while hopes were raised that the Federal Reserve may hint at a slowdown in the pace of monetary tightening at its meeting later on Wednesday. The pan-European STOXX 600 index rose 0.3 …

  Read More »
• 2 November 2022 3:48 pm

  Oil falls ahead of US Federal Reserve interest rate decision

  

  Oil prices fell on Wednesday ahead of the Federal Reserve’s expected rate hike, but expectations of a decline in US crude inventories and European sanctions on Russian oil limited losses. Brent crude fell 56 cents, or 0.6 percent, to $ 94.09 a barrel by 1027 GMT, while US West Texas …

  Read More »
• 2 November 2022 2:30 pm

  Russia announces continued talks with Turkey over grain agreement

  

  The Kremlin said on Wednesday that it is still in contact with Turkey over the Ukraine grain deal but that Russia’s participation is currently suspended. Russia suspended its participation in the deal at the weekend, saying it could not guarantee the safety of civilian ships crossing the Black Sea due …

  Read More »
• 2 November 2022 12:59 pm

  Nikkei closes flat ahead of Fed decision

  

  Japan’s Nikkei index ended Wednesday’s trading in the Tokyo Stock Exchange little changed amid weak trading ahead of the Federal Reserve’s decision on interest, which would also give clues to the bank’s future policy path. Still, investors were keen to buy Sony Group shares in light of strong expectations. Nikkei …

  Read More »
• 2 November 2022 5:34 am

  Market Drivers – US Session 1/11/2022

  

  US Treasury yields helped high-yielding assets to advance early on Tuesday, with the American dollar edging lower throughout the first half of the day. The yield on the 10-year Treasury note pulled down to 3.92%, and the USD tends to slide when it breaks below the 4% threshold ahead Yields …

  Read More »
• 2 November 2022 4:00 am

  BoJ Minutes: Japan’s economy is picking up

  

  The Bank of Japan’s minutes for the September meeting minutes are released early Wednesday denoting that few members said need to be watchful to the impact of monetary tightening by some central banks could have on global markets. Members agreed Japan’s economy is picking up. Several members said weak yen …

  Read More »
• 2 November 2022 2:45 am

  BoC’s expects policy rate will need additional hikes

  

  “We expect our policy rate will need to rise further”, said Bank of Canada (BoC) Governor Tiff Macklem. Macklem also noted that how much further rates go up will depend on how monetary policy is working, how supply challenges are resolving and how inflation is responding to this tightening cycle.“We …

  Read More »