Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 19 October 2022 5:33 pm

  Canada: Annual CPI eases to 6.9% in September

  

  As measured by the Consumer Price Index (CPI), inflation in Canada fell to 6.9% in September from 7.0% in August, data published by Statistics Canada showed this Wednesday. This reading is slightly better than the market expectation of 6.8%. The Bank of Canada’s (BOC) Core CPI, which excludes volatile food …

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• 19 October 2022 4:49 pm

  GBP falls under the weight of inflation, USD clings to its 32-year peak against JPY

  

  Sterling fell on Wednesday after a bigger-than-expected rise in consumer price inflation in Britain and fears of a deeper recession in the country fueled expectations that the Bank of England’s November interest rate hike would be less severe. The dollar consolidated at a 32-year high against the yen and rose …

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• 19 October 2022 3:26 pm

  Erdogan says he agreed with Putin to establish a natural gas center in Turkey

  

  Turkish President Recep Tayyip Erdogan said on Wednesday that he had agreed with his Russian counterpart, Vladimir Putin, to establish a natural gas center in Turkey. Speaking to members of the ruling Justice and Development Party in parliament, Erdogan said that Putin told him that Europe can obtain its gas …

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• 19 October 2022 2:32 pm

  Eurozone final inflation arrives at 1.2% MoM in September

  

  Eurozone’s Inflation surged 9.9% in September, on an annualized basis, according to Eurostat’s final reading of the Eurozone Harmonised Index of Consumer Prices (HICP) report for the month. The reading missed expectations of 10.0% while against the 10.0% previous. Core figures rose by 4.8% YoY, meeting the 4.8% market estimates …

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• 19 October 2022 1:37 pm

  Petroleum Institute: US oil stocks fell 1.3 million barrels

  

  The American Petroleum Institute said that crude oil inventories fell by 1.3 million barrels in the week ending on the fourteenth of October. According to the weekly report of the American Institute, gasoline stocks in the United States decreased by 2.2 million barrels last week, and distillate stocks fell by …

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• 19 October 2022 12:34 pm

  European shares rise with a boost from the results of ASML Semiconductor

  

  European shares rose on Wednesday as strong financial results for ASML Semiconductor gave a boost to the technology sector and boosted hopes that earnings season will be auspicious. However, the rise was limited due to the still continuing fears of rising inflation and interest rate hikes. ASML shares rose 5.5 …

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• 19 October 2022 12:12 pm

  Japan’s Nikkei closes higher, supported by strong earnings data for US companies

  

  Japanese stocks closed higher on Wednesday, tracking gains made by Wall Street after US companies reported strong financial results. The Nikkei index rose 0.37 percent and remained significantly higher than a basic sentiment level of 27,000 points throughout the day, without any indications of the volatile trading witnessed in the …

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• 19 October 2022 10:42 am

  Oil rises as investors take risks and increase China’s demand

  

  Oil prices rose on Wednesday, recouping losses incurred in the previous session, as investors turned to riskier assets such as commodities amid gains in stock markets and signs of renewed demand in China, the largest oil importer. By 0455 GMT, Brent crude futures for December settlement rose 46 cents, or …

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• 19 October 2022 2:54 am

  Market Drivers – US Session 18/10/2022

  

  The United Kingdom seized most of investors and traders’ attention. During London trading hours, the Financial Times suggested the Bank of England could delay the start of the quantitative tightening bond-selling program, sending the Pound up and adding pressure on the US dollar.However, the BOE quickly denied the news headline, …

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• 19 October 2022 2:24 am

  Are gold prices preparing for significant leap?

  

  Gold prices are under pressure below a key dominant bearish trendline. The US dollar could find support from the US bond yields that are resurging. Gold is trading at $1,650.38 at the time of writing and continues flat on the day at the time of writing. The precious metal has …

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• 19 October 2022 2:03 am

  Fed’s Kashkari: Not ready to declare a pause in rate hikes

  

  “Until I see some compelling evidence that core inflation has at least peaked, not ready to declare a pause in rate hikes,” Minneapolis Federal Reserve Bank President Neel Kashkari. His remarks failed to get any major response from the market, may be due to the usual inactive hours of trading, …

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• 19 October 2022 1:23 am

  EUR/USD retreats from 0.9880

  The euro retreats below 0.9850 after previously failing to hold at 0.9880. The positive market sentiment has acted as a tailwind for the euro.The EUR/USD pair’s recovery from last week’s lows at 0.9635 has lost momentum below 0.9900 and the pair pulled back to 0.9850 on Tuesday’s afternoon US Trading …

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• 19 October 2022 12:32 am

  Fitch: More aggressive policy to impact consumer spending in 2023

  

  Fitch says it expects a very strong consumer balance sheet, the strongest labour market in decades to cushion the impact of likely recession starting in the second quarter, of 2023.It is worth noting that the 2-year yield is under pressure which has left the US dollar hanging out to dry …

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