Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 7 October 2022 1:16 pm

  Japanese tech stocks fall, travel stocks rise before tourism returns

  

  Japanese technology stocks fell Friday, October 7, as Sharp Corp and other concerns about the sector’s future were hurt, after warning signs from abroad from Advanced Micro Devices and Samsung Electronics. In contrast, travel-related stocks – including airlines, rail operators and supermarkets – rose before borders reopen next week to …

  Read More »
• 7 October 2022 12:34 pm

  Chip makers drop European Stoxx 600 index

  

  The pan-European STOXX 600 index declined on Friday, led by semiconductor manufacturers, after weak reports from Samsung and Advanced Micro Devices. At the same time, recession fears persisted amid signs that central banks will remain decisive in tightening monetary policy. The Stoxx 600 index was down 0.2 percent by 0704 …

  Read More »
• 7 October 2022 11:41 am

  U.S. bill pressuring OPEC+ after oil production cut gains momentum

  

  Top U.S. senators from both parties on Thursday gave momentum to a bill pressuring OPEC+ after the group announced a deep cut in oil production this week despite lobbying by President Joe Biden’s administration to keep the taps open. The so-called No Oil Producing and Exporting Cartels (NOPEC) bill gained …

  Read More »
• 7 October 2022 10:58 am

  Oil stabilizes as focus returns to US economic data

  

  Oil prices stabilized on Friday, before the announcement of important US economic data, after rising more than one percent in the previous session, after the decision of the OPEC + group of oil producers regarding production targets. By 0339 GMT, Brent crude futures fell 11 cents to $94.31 a barrel. …

  Read More »
• 7 October 2022 10:08 am

  Gold stabilizes ahead of US jobs data

  

  Gold prices stabilized on Friday, October 7, ahead of a US jobs report that may support investors’ expectations regarding the path of the US Federal Reserve to raise interest rates, and is heading towards the largest weekly increase since March. By 01:23 GMT, there was little change in gold in …

  Read More »
• 7 October 2022 5:56 am

  Market Drivers – US Session 06/10/2022

  

  The EUR/USD pair trades just below the 0.9800 figure, as worse-than-anticipated EU data added pressure on the Euro. Across the Atlantic, the US dollar recovered its positive momentum and closed Thursday with gains against most major rival currencies. The shy tone of global equities and soaring US Treasury yields enriched …

  Read More »
• 7 October 2022 2:23 am

  EUR/USD senses downside ahead of NFP

  

  As risk sentiment is still negative and the US dollar index (DXY) has not displayed any sign of exhaustion in the uptrend, consequently, the downside momentum in the EUR/USD could resume sooner.The EUR/USD is attempting to rebound from below 0.9800, while downside seems to be favored. The Dollar Index, DXY, …

  Read More »
• 7 October 2022 1:11 am

  Gold beaten back by stronger US dollar

  

  The price of gold returns back to flat on the day in what has been a correction of this week’s rally into daily resistance near $1,730. The price fell from a high of $1,725.60 to a low of $1,706.95 but held above the prior day’s lows despite firmer US yields …

  Read More »