Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 31 October 2022 10:10 pm

  GBP/USD extends losses as Sterling gives up momentum

  

  The reversal of the British pound from 1.1645 extends below 1.1500. The sterling loses ground as the Sunak effect fades. Meanwhile, the US dollar appreciates ahead of the Fed’s monetary policy meeting.Sterling’s reversal from last week’s highs at 1.1645 accelerated on Monday, reaching levels below 1.1500. The cable is on …

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• 31 October 2022 9:13 pm

  USD/CAD hits resistance at 1.3685 and retreats below 1.3650

  

  The US dollar is pulling lower on Monday’s US trading session, giving away previous gains after having peaked at 1.3685. On the daily chart, however, the pair remains moderately positive, on track to close a three-day rally from 1.3495 lows last week.The Federal Reserve is attracting investors’ attention this week. …

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• 31 October 2022 8:07 pm

  Gold rebounds after falling below $1620 ahead of Fed meeting

  

  Gold prices rebounded to $1636.72 per ounce after briefly falling to below $1620. Broad US Dollar strength ahead of the Federal Reserve meeting keeps the precious metals segment under pressure. Gold price slid for the second consecutive day as the US Dollar advances, ahead of the Federal Reserve Open Market …

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• 31 October 2022 7:14 pm

  Dallas Fed Manufacturing Index drops below expectations

  

  Dallas Fed Manufacturing Index for October came below market expectations. The headline General Business Activity Index of the Federal Reserve Bank of Dallas’ Texas Manufacturing Survey declined to -19.4 in October versus the previous reading -17.2 in September. The fresh figure is weaker than the market expectation of -15. Further …

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• 31 October 2022 6:20 pm

  European natural gas prices fall more than 8% as supply shortage fears subside

  

  European natural gas prices fell during Monday’s trading after two consecutive days of gains, as unusually warm weather curbed demand and eased concerns about a winter supply shortage. Higher temperatures above normal delayed the build-up of gas demand in the European region, allowing storage sites that were already more full …

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• 31 October 2022 4:22 pm

  OPEC raises its forecast for long-term demand for oil and calls for investments in the sector

  

  An annual forecast report released on Monday showed that OPEC raised its forecast for global oil demand in the medium and longer term, and said that $12.1 trillion in investment is needed until 2045 to meet this demand, despite efforts to shift to clean energy sources. In the report, OPEC …

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• 31 October 2022 3:40 pm

  Turkish Defense Minister: Suspending the grain agreement will not benefit any party

  

  Turkish Defense Minister Hulusi Akar said on Monday that suspending the agreement to export grain from the Black Sea will not benefit any of the parties involved, after Moscow suspended its participation in the initiative. Akar stated that he will hold a phone conversation with his Russian counterpart Sergei Shoigu …

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• 31 October 2022 3:02 pm

  Eurozone Preliminary Inflation soars 10.7% YoY in October

  

  The annualized Eurozone Harmonised Index of Consumer Prices (HICP) jumped by 10.7% in October vs. September’s 9.9%, the latest data published by Eurostat showed on Monday. The market forecast was for a 9.8% print. The core figures climbed to 5.0% YoY in October when compared to 4.9% expectations and 4.8% …

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• 31 October 2022 2:03 pm

  Russia accuses British Navy of Nord Stream 1 bombings

  

  Russia’s Ministry of Defense on Saturday made an explicit accusation against British naval personnel over their involvement in last month’s Nord Stream 1 gas pipeline bombings. Russia has not provided any evidence for its claim that a prominent member of NATO – such as Britain – has contributed to sabotaging …

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• 31 October 2022 1:33 pm

  European shares slip ahead of inflation data

  

  European shares fell on Monday, led by lower energy and mining shares, while investors awaited the key inflation reading in the eurozone, which is likely to show prices rose to new record levels in October. The pan-European Stoxx 600 index fell 0.1 percent after closing higher on Friday, while the …

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• 31 October 2022 12:51 pm

  Eurozone HICP Forecasts

  

  Eurostat will release Harmonised Index of Consumer Prices (HICP) data for October on Monday, October 31 at 10:00 GMT. As we get closer to the release time, here are the expectations forecast by the economists and researchers of three major banks regarding the upcoming EU inflation print. TDS “We look …

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• 31 October 2022 12:09 pm

  Japan’s Nikkei closes at 6-week high as technology shares rise

  

  Japan’s Nikkei index closed at a six-week high on Monday, October 31, tracking Wall Street’s strong close in the previous session, with technology stocks topping the list. The Nikkei rose 1.78% to 27,587.46 points, its highest level since Sept. 20, and its biggest one-day gain since Oct. 14. The broader …

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• 31 October 2022 11:18 am

  Gold prices are heading towards achieving their seventh monthly loss in a row

  

  Gold prices headed for a 7th consecutive monthly loss Monday, October 31st due to pressure from inflated US interest rates as cautious investors focus on the US Federal Reserve meeting for clues on its future position. The price of gold settled in spot transactions at $ 1642.55 an ounce at …

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