Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 26 October 2022 7:33 pm

  Major banks see no obstacles to ECB’s 75 bps hike

  

  The European Central Bank will announce its decision on monetary policy on Thursday, October 27 at 12:15 GMT and as markets get closer to the release time, here are the expectations as forecast by the economists and researchers of 15 major banks.Economists broadly expect the ECB to raise borrowing costs …

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• 26 October 2022 4:49 pm

  US: International trade deficit widens to $92.2 billion in September

  

  The data published by the US Census Bureau showed on Wednesday that the US international trade deficit widened by $4.9 billion to $92.2 billion in September from $87.3 billion in August. The US Dollar Index recovered slightly from multi-week lows it touched earlier in the day and was last seen …

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• 26 October 2022 3:34 pm

  Mercedes-Benz lifts profit forecast as luxury cars boom

  

  Mercedes-Benz (MBGn.DE) raised its full-year profit forecast on Wednesday as strong demand for luxury cars and cost savings offset the supply chain bottlenecks that have hampered industry output this year. The German automaker said it now expected group earnings to rise at least 15% this year, compared with a previous …

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• 26 October 2022 3:01 pm

  Gold recovers as dollar falls on bets on a slower rate of hike

  

  Gold rose on Wednesday as the dollar and US Treasury yields fell amid expectations that the Federal Reserve may slow the pace of interest rate hikes. And gold rose in spot transactions 0.7 percent, recording 1663.26 dollars an ounce by 0644 GMT. US gold futures rose 0.6 percent to $1,667.10 …

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• 26 October 2022 1:29 pm

  The new British Prime Minister holds his first cabinet meeting to start reforming the economy

  

  British Prime Minister Rishi Sunak held his first cabinet meeting on Wednesday, a day after taking office with a promise to fix the previous government’s mistakes and stabilize the economy. High on Sunak’s agenda is preparing the financial market’s eagerly awaited financial statement, due out on October 31, but the …

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• 26 October 2022 12:26 pm

  Barclays posts profit beat for the third quarter on strong bond trading revenue

  

  Wednesday reported an unexpected rise in third-quarter earnings on the back of strong trading revenues, despite a continued drag from a costly U.S. trading error. The British lender posted a net profit attributable to shareholders of £1.512 billion ($1.73 billion), above consensus analyst expectations of £1.152 billion and marking an …

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• 26 October 2022 12:14 pm

  Nikkei closes at a 7-week high after a third straight day of gains

  

  Japanese shares closed higher for a third day in a row on Wednesday. Still, gains were limited amid a decline in US futures contracts and with local investors wary of unexpectedly weak business results from technology giants such as Alphabet and Microsoft. The Nikkei rose 0.67 percent and hit more …

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• 26 October 2022 12:12 pm

  The results of major technology companies pressure European stocks

  

  European shares fell on Wednesday from their highest levels in a month, and technology stocks led the losses after disappointing results from major companies on Wall Street raised fears of slowing economic growth. The pan-European Stoxx 600 index was down 0.2 percent by 0719 GMT. In the previous session, the …

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• 26 October 2022 11:47 am

  Turkey fines Meta about $18.6 million for violating competition law

  

  Turkey’s Competition Board, the competition protection and antitrust body, said on Wednesday (October 26) it had fined Facebook’s owner Meta platforms 346.72 million lira ($18.63 million) for violating competition law. The council added in a statement that it decided that the company obstructed its competitors operating in the field of …

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• 26 October 2022 10:28 am

  Oil falls on rising US inventories, supply fears limit losses

  

  Oil prices fell on Wednesday after industry data showed that crude stocks in the United States rose more than expected, but supply concerns limited losses. Brent crude futures for December were down 72 cents, or 0.8 percent, at $92.80 a barrel by 0330 GMT, after closing up 26 cents in …

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• 26 October 2022 3:33 am

  Market Drivers – US Session 26/10/2022

  

  The US dollar gave up during the US session, finishing the day with losses against its major rival currencies. The EUR/USD pair trades near parity early Wednesday and ahead of important monetary policy announcements scheduled for next Thursday.Commodity-linked currencies benefited from higher US equities. AUD/USD flirts with 0.6500 while the …

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• 26 October 2022 2:40 am

  Improved sentiment pushes US stocks higher

  

  On Tuesday, US stocks closed another US session higher as investors monitored the performance of the US dollar and the declining Treasury yields in addition to fresh US macroeconomic data for extracting clues concerning the status of the United States economy.The Dow Jones Industrial Average closed 337.12 points higher, or …

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• 26 October 2022 12:40 am

  UK politics save the day of GBP/USD

  

  The GBP/USD pair has gained over 1.7% and benefited from the US dollar’s decline on Tuesday. It is convenient to say that UK politics saved the day for sterling bulls. The pair is trading at 1.475Investors welcomed Rishi Sunak as the new UK prime minister where, in his first speech, …

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