Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 10 October 2022 3:36 am

  Markets’ Weekly Recap, October 3-10

  

  The latest escalation in the Russia-Ukraine has been sending waves of fear to almost all financial assets, following an explosion that destroyed a part of the bridge in Crimea which is crucial for Russia’s war supplies. Escalation also contributed to the market’s sour sentiment. On the same line could be …

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• 8 October 2022 2:32 am

  Market Drivers – US Session 07/10/2022

  

  The US dollar strengthened against major rival currencies on Friday after US data showing employers hired more workers than expected in September, suggesting the Federal Reserve will likely stick to its aggressive tightening policy for now.The dollar reversed early losses against the Japanese yen and was last up 0.2% at …

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• 8 October 2022 2:17 am

  Oil Finishes Week With Significant Gains

  

  Crude oil prices were able to finish the trading week with significant gains. WTI rose more than $10 per barrel this week as OPEC+ agreed to slash its production for November by 2 million barrels per day.The November contract WTI prices rose to $92.64 (+4.43%) at the time of writing …

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• 8 October 2022 1:13 am

  Gold price encounters big risk ahead of CPI data

  

  Gold is trading at $1693.70 per ounce at the time of writing versus Thursday’s closing price at $1711.75. So, the gold market tends to be at risk despite its sudden recovery above $1,700 an ounce during the week. Gold failed to hold the $1700 level for long. Analysts point to …

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• 7 October 2022 11:34 pm

  Treasury Yields Rose On Eased Slowdown Fears After NFP

  

  US government-bond yields rose Friday morning after fresh labuor market related data for September showed slight opportunity of any serious economic slowdown. Treasury yields spiked, with the benchmark 10-year note topping 3.8% and the rate-sensitive 2-year yield at nearly 4.3%.The Labour Department’s latest data showed the unemployment rate dropping to …

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• 7 October 2022 10:39 pm

  US Stocks Sink On NFP Data

  

  US stocks fell on Friday as Wall Street weighed the government’s monthly employment report, which revealed how labour conditions remained tight in September, despite a slowdown in hiring; a sign the Fed will proceed with aggressive monetary tightening.The US economy added 263,000 jobs last month as the unemployment rate fell …

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• 7 October 2022 9:46 pm

  GBP/USD about to collapse on stronger US dollar after NFP

  

  After the release of the US monthly employment data, the US dollar rallied, pushing GBP/USD down to an intraday low of 1.1089. US stocks were holding on to pre-opening losses without extending their slumps. Some profit-taking ahead of the weekend has helped major pairs to bounce, but that is not …

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• 7 October 2022 9:02 pm

  Bitcoin slides on NFP data

  

  The crypto market settled in the red territory on Friday, with Bitcoin heading the downtrend of the $20,000 mark again as analysts eye further rate hikes in light of the strong NFP data.October is usually a positive season for Bitcoin’s price movements, however, as the first full week of the …

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• 7 October 2022 8:16 pm

  EUR/USD still below 0.9800 post NFP

  

  The EUR/USD pair sharply fell with the initial market reaction to US NFP data that rose by 263K in September.The pair is on track to end the week with a little change. The pair has also managed to erase a large portion of its daily losses but lost its recovery …

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• 7 October 2022 7:24 pm

  NFP Unlikely To Impact US Dollar’s Performance

  

  US employment gain, for September, was not so far rfrom expectations. NFP should be broadly neutral for the USD at this time, in the opinion of economists.Friday’s data will do much to impact the US dollar’s performance. At a minimum, markets will likely have to wait until the upcoming CPI …

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• 7 October 2022 4:56 pm

  Canada: Unemployment Rate declines to 5.2% in September

  

  The Unemployment Rate in Canada declined to 5.2% in September from 5.4% in August with the Net Change in Employment coming in at 21.1K, slightly better than the market expectation of 20K, the data published by Statistics Canada showed. The Canadian dollar managed to stay resilient against the greenback, which …

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• 7 October 2022 4:51 pm

  US Nonfarm Payrolls rise by 263,000 in September

  

  Nonfarm Payrolls in the US rose by 263,000 in September, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading followed August’s increase of 315,000 and came in better than the market expectation of 250,000. Further details of the report revealed that the Unemployment Rate …

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• 7 October 2022 2:02 pm

  Oil is heading for weekly gains after the OPEC + decision to cut production

  

  Oil prices rose on Friday and headed for gains for the second week in a row, supported by the decision of OPEC + to make the largest supply cut since 2020, despite concerns about a recession and higher interest rates. The cut decided by the OPEC + cartel, which includes …

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