Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2023

• 24 October 2023 2:37 am

  Market Drivers – US Session, October 23

  

  Crude oil prices declined on Monday. The WTI barrel dropped to its lowest level in a week, reaching $85.66.Gold pulled back despite the sharp slide in US yields; XAU/USD found support above $1,970. Meanwhile, Silver experienced losses and dropped below $23.00.Remarkable DevelopmentsThe Treasury market was the center of attention on …

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• 24 October 2023 1:32 am

  US, China conduct in-depth constructive economic discussions

  

  China’s Finance Ministry said, on Tuesday, that the two sides had in-depth, candid and constructive discussions on the macroeconomic situation and policies of the two countries and the world,” following the conclusion of the first meeting between the China-US economic working group.Additional QuotesChina expressed its concern, both sides will maintain …

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• 23 October 2023 11:03 pm

  Yield on a 10-year Treasury reached 5% for the first time since 2007

  

  The 10-year Treasury yield has reached 5% for the first time since 2007, marking a significant shift in the global financial system. The increase in yields means that the US government must pay more to borrow money from investors to cover its spending, impacting people worldwide. The 10-year Treasury yield …

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• 23 October 2023 10:04 pm

  US stocks rise, continue to follow the bond market’s lead

  

  Wall Street is continuing a monthslong run where it’s slavishly followed the cue of the bond market. The S&P 500 shook off a weak start and was up 0.3% in midday trading. The benchmark index is coming off its worst week in a month. Early Monday morning, the yield on …

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• 23 October 2023 9:03 pm

  Dollar exhibits softer performance ahead of eventful week

  

  The US Dollar faces selling pressure as investors await fresh catalyst. Dovish bets on the Fed and lower US yields weakened the green currency. The US will release the preliminary estimate of Q3 GDP and PCE inflation data this week. The US Dollar Index declined to the 105.75 area. Falling …

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• 23 October 2023 7:57 pm

  Yen seen preparing for possible leap

  

  The Japanese Yen continues to struggle against the USD, with the pair coiling below the key level of 150 and threatening a breakout higher. Dovish remarks from BoJ Governor Ueda have pushed the pair higher, and intervention from Japanese authorities is likely as key price/yield levels are now close to …

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• 23 October 2023 2:46 pm

  European stocks stabilize, but still pressured by Middle East tensions

  

  European stocks steadied on Monday ahead of earnings reports and an expected European Central Bank monetary policy meeting during the week, but tension in the Middle East kept investors on edge. The European STOXX 600 index rose 0.1 percent by 0703 GMT, after falling more than three percent in the …

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• 23 October 2023 1:31 pm

  Gold retreats from its 5-month peak

  

  Gold prices fell on Monday from the highest level in five months that they recorded in the previous session, with the dollar and US Treasury bond yields rising ahead of important economic data expected this week, while investors are looking for any indications of global repercussions of the conflict in …

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• 23 October 2023 12:42 pm

  Japan’s Nikkei closes below 31,000 points due to Middle East concerns

  

  Japan’s Nikkei index closed below the level of 31,000 points on Monday, as investors worried about the development of the situation in the Middle East. The Nikkei index fell 0.83 percent, closing at 30,999.55 points. It had earlier fallen to a two-week low of 30,974.26 points before a quick rebound …

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• 23 October 2023 11:47 am

  Oil falls as supply concerns ease following diplomatic efforts to calm the Gaza war

  

  Oil prices fell by over a dollar on Monday as supply concerns eased amid diplomatic efforts to contain the conflict between Israel and the Palestinian Islamic Resistance Movement (Hamas). By 0628 GMT, Brent crude futures fell 67 cents to $91.49 per barrel, after losing $1.08 earlier in the session, recording …

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• 23 October 2023 2:07 am

  Financial Markets’ Weekly Recap, October 16 – 20

  

  The US government posted a $170 billion budget deficit, according to the Treasury Department, which reported $467 billion in total receipts and $638 billion in total outlays.The fiscal deficit for the fiscal year 2023 was $1.696 trillion, a 23% increase from the previous year and the largest since the start …

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• 20 October 2023 8:32 pm

  ECB finalises report on banking credit risk management

  

  The European Central Bank has published its final report on “Sound practices in counterparty credit risk governance and management,” following a public consultation that ended in July 2023. The report identifies sound market practices and areas for improvement in managing counterparty credit risk. The ECB has acknowledged all comments received …

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• 20 October 2023 7:24 pm

  Could gold reap more gains on escalating Middle East woes?

  

  Despite higher bond yields, the Gold price gained to around $1,980 this week – its highest level in three months. Economists at Commerzbank analyze the yellow metal’s outlook.The Gold Index (XAU/USD) upside potential is likely exhausted, but gold price could probably chalk up some additional gains if the Middle East …

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