Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 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, …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 18 October 2022 11:27 pm

  Will Mastercard’s latest move boost crypto trading?

  

  Mastercard has introduced a new program called Crypto Source to enable financial institutions to offer crypto trading and other related services to their customers. Mastercard partnered with Paxos Trust Company to support this program. The new program will bring crypto trading capabilities to banks. In partnership with regulated and licensed …

  Read More »
• 18 October 2022 10:29 pm

  Fed’s Bostic: Inflation too high, have to get it under control

  

  Raphael Bostic, the head of the central bank’s Atlanta district has said that inflation is too high and they have to get it under control.“There is a need for stable prices for maximum employment growth”, Bostic added, boosting bets concerning the continuation of the Fed’s hawkish stance during the next …

  Read More »
• 18 October 2022 9:45 pm

  What Could CPI Reading reflect about Canadian Economy, CAD?

  

  Statistics Canada will release September Consumer Price Index data on Wednesday, October 19 at 12:30. Following is the expectations by economists from and researchers of seven major banks regarding the upcoming Canadian inflation data.Headline inflation reading is expected to fall two ticks to 6.8% year-on-year, while Core inflation, which excludes …

  Read More »
• 18 October 2022 8:57 pm

  Goldman results stir optimism in Wall Street

  

  US stock indexes rose on Tuesday as strong results from Goldman Sachs calmed worries of a substantial hit to profit from accelerating interest rate hikes, but a rise in government bond yields pushed mega cap growth stocks lower.Goldman Sachs Group gained 2.5% after reporting a smaller-than-expected drop in quarterly profit …

  Read More »
• 18 October 2022 8:14 pm

  WTI retreats 4% on recession fears, demand issues

  

  The WTI crude oil drops from daily highs of $86.40s to $82.20s on Tuesday. Chinese economic indicators remain delayed, with no rescheduling assigned by the government. The US will release oil from its SPR reserve to keep gasoline prices down.The US crude oil declined more than 3% on Tuesday amidst …

  Read More »
• 18 October 2022 7:13 pm

  Why don’t some economists see gold as a safe-haven?

  

  The aggressive stance adopted by the US Federal Reserve and the anticipated rate hike in November’s FOMC meeting amid high inflation constitute some of the factors that do impact gold prices according to most economists and strategists.Investors are unlikely to grow their appetite for gold. There is a flat and …

  Read More »
• 18 October 2022 5:22 pm

  Gas prices fall in Europe amid weak demand and mild weather

  

  Wholesale gas prices fell in the Netherlands and Britain on Tuesday, affected by lower demand due to warmer-than-normal weather and ample supply amid stable liquefied natural gas shipments. The Dutch gas contract for the month of the nearest maturity for the fifth consecutive trading day fell 13.50 euros to 116.50 …

  Read More »
• 18 October 2022 4:36 pm

  Lockheed Martin earnings beat expectations

  

  Lockheed Martin’s third-quarter earnings report indicated that it beat analysts’ expectations. The report was released on Tuesday and the company posted revenue less than expected. Earnings per share amounted to $6.87, while revenues were recorded at $16.60. According to the report, Lockheed Martin shares gained 0.70% to trade at $400.10 …

  Read More »
• 18 October 2022 3:38 pm

  Oil prices fall amid fears of an economic slowdown

  

  Oil prices fell on Tuesday, amid fears of slowing economic activity and lower demand for fuel from China, in light of its adherence to its strict policy to contain the Coronavirus known as (Zero Covid). Brent crude futures fell 41 cents, or 0.45 percent, to $91.21 a barrel by 0948 …

  Read More »
• 18 October 2022 2:40 pm

  German ZEW Economic Sentiment Index improves to -59.2 in October

  

  The German ZEW headline numbers for October showed that the Economic Sentiment Index improved to -59.2 while beating estimates of -65.7 vs. -61.9 previous. Meanwhile, the Current Situation sub-index arrived at -72.2 in October vs. -68.0 expectations and September’s -60.5. The Eurozone ZEW Economic Sentiment Index stood at -59.7 in …

  Read More »