Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 26 October 2023 9:39 pm

  Global Markets – Stocks struggle on mixed earnings, high Treasury yields

  

  Global stock markets saw a decline on Thursday as US Treasury yields remained close to 5%, the country’s economy grew faster than anticipated, and corporate earnings were mixed.According to data, the third quarter saw the fastest rate of growth in the US economy in almost two years. This was despite …

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• 26 October 2023 8:34 pm

  US Core PCE Preview: Forecast by six major banks, inflation could accelerate

  

  As markets approach the release time on Friday, October 27 at 12:30 GMT, the US Bureau of Economic Analysis (BEA) will release the Core Personal Consumption Expenditure (PCE), the Fed’s preferred inflation gauge. Below are the forecasts from economists and researchers at six major banks.Expected headline is 3.4% year over …

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• 26 October 2023 7:45 pm

  USD/JPY surges to fresh monthly highs following robust US data

  

  At 150.77, the USD/JPY pair reached a new high that was not seen since late October 2022. Both the US Q3 GDP preliminary estimates and September’s orders for durable goods exceeded forecasts.The USD/JPY kept moving higher during Thursday’s session, peaking at 150.77 before levelling off at 150.35. In contrast to …

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• 26 October 2023 3:19 pm

  Yen is at its lowest level in a year amid fears of government intervention, the dollar is rising

  

  The dollar rose on Thursday near its highest levels in two weeks as US Treasury yields rose and investors’ appetite for riskier currencies declined. The yen’s exchange rate exceeded the level of 150 against the dollar, creating a state of concern among traders about the possibility of government intervention to …

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• 26 October 2023 1:55 pm

  Japan’s Nikkei index records its largest decline in 3 weeks

  

  Japan’s Nikkei closed at the close, recording its worst daily performance in three weeks on Thursday, with chip-related stocks leading a broad selling wave amid rising long-term yields and US technology stocks falling overnight. The Nikkei fell 2.14 percent to close at 30,601.78 points, near the lowest level recorded during …

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• 26 October 2023 12:53 pm

  European stocks decline after weak results

  

  European stocks fell on Thursday due to rising US Treasury yields and a series of weak earnings reports, before the European Central Bank announced its monetary policy decision later on Thursday. By 0707 GMT, the European STOXX 600 index fell 1.1 percent following Wall Street’s decline on Wednesday, with long-term …

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• 26 October 2023 9:46 am

  Boeing faces losses in Q3

  

  Boeing, the aerospace company, reported losses in the third quarter of this year, as revealed in Wednesday’s earnings reports. Additionally, the company adjusted its expectations, indicating a lower delivery of 737 MAX aircraft than previously anticipated. The adjusted losses for the American giant company were $3.26 per share, which was …

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• 26 October 2023 3:30 am

  IBM’s profits, revenues beat expectations

  

  IBM’s adjusted earnings for the third quarter of 2023 rose to $2.20 per share, versus expectations issued by the “Street Account” market research firm, which indicated $2.13 per share.The company’s revenues rose in the same period to $14.75 billion, compared to expectations which indicated $14.73 billion.The markets’ direct reaction to …

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• 26 October 2023 2:41 am

  Heineken records profits despite a decline in sales

  

  Heineken beer company’s sales declined in the third quarter of 2023 after completing exit procedures from its investments in Russia, as the Dutch company’s sales recorded a decline of 4.2% in this period.It is likely that the main reason behind the decline in sales could be the slowdown in the …

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• 26 October 2023 1:35 am

  Market Drivers – US Session, October 25

  

  The US Dollar Index rose for the second consecutive day, rising above 106.50, the highest level since last Friday. The dollar received a boost from higher Treasury yields and deteriorating market sentiment following the latest round of earnings results. The Dow Jones dropped 0.32%, and the Nasdaq lost 2.43%. The …

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• 26 October 2023 1:22 am

  Gold hits weekly high despite rising US bond yields

  

  With a gain of over 0.56%, the price of gold has risen to a new weekly high of $1987.25. This is because US business activity is starting to pick up steam, as shown by September’s record-breaking new home sales and the S&P Global PMIs.The US 10-year Treasury bond yield has …

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• 26 October 2023 12:29 am

  Mike Johnson elected as US House Speaker

  

  Following weeks of party infighting that left the House in disarray, Rep. Mike Johnson won the speakership on Wednesday without losing any GOP votes. The lawmaker from Louisiana has been an outspoken advocate for the late President Donald Trump and played a significant role in the congressional effort to rig …

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• 25 October 2023 11:56 pm

  US dollar extends gains on the back of rising T-yields

  

  The US Dollar extended last US session’s gains, but the upward momentum is seen as weak. The US reported positive housing market data, and the 5- and 10-year US Treasury yields recovered, while the shorter-term 2-year rate declined. The Dollar Index climbed higher on Wednesday, rising towards a six-day high …

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