Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 27 October 2022 5:13 am

  Market Drivers – US Session 26/10/2022

  

  The American dollar resumed its journey to the south, falling against its major rivals. The EUR/USD pair reclaimed parity and approaches 1.0100 ahead of preliminary Q3 Gross Domestic Product estimate in the United States, September Durable Goods Orders reading (expected to up by 0.6%) and the European Central Bank monetary …

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• 27 October 2022 2:40 am

  EUR/USD Moves Within Narrow Range

  

  The EUR/USD pair is displaying back-and-forth moves in a narrow range of 1.0073-1.0088 in the early Asian session. The pair has turned sideways after a vertical rally as positive market sentiment improved demand for risk-sensitive currencies.The major is expected to remain in the grip of bulls ahead of the interest …

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• 27 October 2022 1:36 am

  AUD/USD in narrow range ahead of key US data

  

  The AUD/USD pair is trading within a narrow range of 0.6484-0.6500 as investors are awaiting the release of the US Gross Domestic Product (GDP) data for fresh stimulus and clues. The asset is facing a time correction after refreshing its three-week high at 0.6511 amid an improvement in the risk …

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• 27 October 2022 12:21 am

  ECB Preview: Rate Decision Could Be Euro’s Game Changer

  

  The European Central Bank is going to announce its monetary policy decision on Thursday. Policymakers, led by President Christine Lagarde, are expected to finally abandon their cautious approach to quantitative tightening. Europe’s CPI reading reached record highs, so, the European central bank will have to decide another 75 bps rate …

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• 26 October 2022 10:59 pm

  Gold Price Higher on Weaker US Dollar

  

  Gold is on the edge of an important bullish reversal, but it all depends on the Fed’s policy expectations. Technically, the bulls need to hang on above hourly support and break a daily H&S neckline. US bond yields have slipped on expectations that the Federal Reserve will temper its aggressive …

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• 26 October 2022 9:55 pm

  WTI reaches two-week highs at around $88.00 on soft US Dollar

  

  WTI soared during the US session. The American crude is boosted by the overall US Dollar weakness as the dollar declines more than 1%, while WTI’s exports hit an all-time high due to domestic refiners operating at a higher level. At the time of writing, WTI is trading at $88.05 …

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• 26 October 2022 8:58 pm

  Alphabet shares have worst day since March 2020

  

  Shares of Alphabet dipped as much as 8% on Wednesday, a day after the company released third-quarter earnings that missed on the top and bottom lines. Revenue growth slowed to 6% from 41% a year earlier as the company contends with a continued downdraft in online ad spending.It has become …

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• 26 October 2022 8:46 pm

  Macklem: BoC cannot rely on global developments to bring down inflation

  

  Bank of Canada Governor Tiff Macklem responded to questions from the press following the bank’s decision to raise the policy rate by 50 basis points to 3.75%.The USD/CAD pair continues to trade in negative territory following the press conference and was last seen losing 0.35% on the day at 1.3560.Key …

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• 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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