Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 26 October 2023 12:29 am

  Mike Johnson elected as US House Speaker

  

  Following weeks of party infighting that left the House in disarray, Rep. Mike Johnson won the speakership on Wednesday without losing any GOP votes. The lawmaker from Louisiana has been an outspoken advocate for the late President Donald Trump and played a significant role in the congressional effort to rig …

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• 25 October 2023 11:56 pm

  US dollar extends gains on the back of rising T-yields

  

  The US Dollar extended last US session’s gains, but the upward momentum is seen as weak. The US reported positive housing market data, and the 5- and 10-year US Treasury yields recovered, while the shorter-term 2-year rate declined. The Dollar Index climbed higher on Wednesday, rising towards a six-day high …

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• 25 October 2023 11:20 pm

  Meta crushes earnings expectations in Q3

  

  Meta, the parent company of Facebook, achieved profits and revenues that exceeded market expectations on Wednesday, according to a financial performance report issued for the third quarter of the current.The company achieved profits of $4.39 per share, which exceeded market expectations, which indicated $3.63 per share. The company’s revenues also …

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• 25 October 2023 10:41 pm

  WTI leaps hits $85 amid tighter geopolitical tensions

  

  As the Middle East conflict heats up again, WTI Crude Oil is back up the daily charts. Requests for a cease-fire so that civilians could receive humanitarian aid were turned down.EIA barrel counts increased more than anticipated, and as geopolitical concerns accelerate, demand concerns will affect the price of crude …

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• 25 October 2023 9:33 pm

  GBP/USD pressured on weak UK data, risk-off

  

  Amidst growing geopolitical tensions in the Middle East, risk aversion remains the driving force behind the financial markets. The GBP/USD pair hit a three-day low of 1.2113, with sellers aiming for the next support level at 1.2100. The US economy is doing well, according to economic data; in September, new …

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• 25 October 2023 8:29 pm

  Has Bill Ackman become new bond king?

  

  Bill Ackman has just been crowned as the new king of the bond market as the US national debt and deficit reach historic highs. Ed Yardeni, an economist who spent decades on Wall Street at firms like Deutsche Bank, believes that bond guards are once again out in force, with …

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• 25 October 2023 7:25 pm

  BoC’s Macklem: Could certainly be two or three quarters of small negative growth

  

  Tiff Macklem, Governor of the Bank of Canada (BoC), explains the BoC decision to leave the interest rate unchanged at 5% after the October policy meeting and responds to questions from the press.Key Quotes“Could certainly be two or three quarters of small negative growth.”“Not predicting a deep recession with a …

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• 25 October 2023 4:11 pm

  ECB Preview: Forecasts from major banks

  

  The European Central Bank (ECB) is scheduled to announce its monetary policy decision on Thursday, October 26, at 12:15 GMT. As the release time approaches, economists and researchers from major banks have shared their expectations. The ECB is widely anticipated to maintain its current interest rates unchanged. This expectation comes …

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• 25 October 2023 3:04 pm

  Alphabet exceeds market expectations, reporting profits

  

  Alphabet, Google’s parent company (GOOG, GOOGL), released its third-quarter earnings report after the market closed on Tuesday. The company outperformed analysts’ predictions regarding revenue and earnings per share; however, a disappointing performance from Google’s cloud business led to a decline in the company’s stock during pre-market trading. In the third …

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• 25 October 2023 11:46 am

  Deutsche Bank’s net profit fell by about 8% in Q3

  

  Deutsche Bank’s profits fell by about 8% in the third quarter of this year, but less than expectations. The German bank said in a statement today, Wednesday, October 25, that it recorded net profits of 1.03 billion euros ($1.06 billion), which exceeds expectations of 997 million euros. On the other …

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• 25 October 2023 11:36 am

  Microsoft’s stock continues its ascent following a positive earnings report

  

  Microsoft’s stock, the American software giant, continues its upward trajectory following the release of earnings reports that revealed profits and revenues exceeding market expectations, with faster growth than anticipated. The reports highlighted a remarkable 27% increase in the company’s net income during the third quarter of this year. Furthermore, there …

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• 25 October 2023 11:21 am

  Gold rises amid declining US bond yields and Middle East tensions

  

  Gold prices rose on Wednesday as US Treasury yields fell. Still, gains were reduced after signs of a cooling in safe-haven demand appeared after the United States and Russia led international calls to stop the fighting between Israel and the Palestinian Islamic Resistance Movement (Hamas). Gold rose in spot transactions …

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• 25 October 2023 11:15 am

  Oil fell for a third session amid weak European economic data

  

  Oil prices were nearly flat at the start of trading on Wednesday, as signs of shrinking US supplies were counterbalanced by economic data that weakened expectations for energy demand. Brent crude futures rose two cents to $88.09 a barrel by 0003 GMT, while US West Texas Intermediate crude futures fell …

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