Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 5 October 2022 12:35 pm

  US oil stocks fell by 1.8 million barrels

  

  The American Petroleum Institute said that crude oil inventories fell by 1.8 million barrels in the week ending September 30th. In its weekly report, the American Institute stated that gasoline stocks fell by 3.5 million barrels last week, and distillate stocks fell by 4.1 million barrels. On Wednesday, the US …

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• 5 October 2022 2:53 am

  Bitcoin surges above $20000

  

  Bitcoin surged on Tuesday and is seen climbing above $20,000 for the first time in three weeks. The most famous cryptocurrency settled below the milestone threshold by Tuesday early afternoon.At the same time, bitcoin’s returns are tracking increasingly to gold and its 30-day performance now sits a highs not seen …

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• 5 October 2022 2:36 am

  Market Drivers – US Session 04/10/2022

  

  Markets were generally optimistic for a second consecutive day, leading to a continued dollar selloff after five-day loss streak while other financial assets were not shy to immediately benefit from the softer American dollar.Government bonds kept recovering ground, keeping yields under pressure, which weighed on the US dollar. The EUR/USD …

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• 5 October 2022 2:17 am

  Oil jumps 3% ahead of OPEC+ meeting on supply woes

  

  Oil has jumped by nearly $3 a barrel on Tuesday on expectations that Wednesday’s OPEC+ meeting could decide a large cut in crude output as the retreating US dollar made oil purchases cheaper.OPEC+ will consider output cut on Wednesday’s meeting. The move could put supply under pressure while the energy …

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• 5 October 2022 2:00 am

  No US ban on natural gas exports in winter

  

  The White House has denied any ban or curbs on natural gas exports this winter to help alleviate energy woes in European allies. Earlier in 2022, US President Joe Biden committed to deliver 15 billion cubic metres (bcm) of liquefied natural gas to Europe following Russia’s invasion of Ukraine and …

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• 5 October 2022 1:44 am

  Twitter shares rise 22% on Elon Musk’s proposal

  

  Elon Musk changed course and agreed to buy Twitter for the originally agreed price, according to a filing on Tuesday. Twitter shares positively reacted to the news and surged after it was reported that Musk plans to go through with his acquisition at $54.20 a share.Twitter stock jumped 22% after …

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• 5 October 2022 12:59 am

  Gold rallies to fresh highs on softer US dollar

  

  Gold price rallied on Tuesday touching a fresh high for the week so far around $1,730 and traders are eying September’s high of $1,735. The precious metal rallied from a low of $1,695.24 on the day as the US yields made fresh lows of 3.564% in 10-year Treasury yield while …

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• 5 October 2022 12:29 am

  Yellen dismisses rumors about quitting after midterm

  

  Treasury Secretary Janet Yellen denied on Tuesday an unconfirmed report that President Joe Biden would replace her after the November midterm elections, saying she plans to stay on as head of the Treasury.Yellen shut down speculation about her exit, saying that “There is no truth to that”. Republicans have been …

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• 4 October 2022 11:38 pm

  German finance minister: EU debt not the answer to energy crisis

  

  German Finance Minister Christian Lindner defended his country’s 200 billion euro defense shield to fund energy relief. Lindner also rejected calls for joint European Union debt, in comments to broadcaster ZDF on Tuesday.“Joint debt does not help us in the long run to strengthen competitiveness or with the sustainable finances …

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• 4 October 2022 10:50 pm

  GBP/USD encounters wall of critical resistance

  

  GBP/USD keeps moving back and forth on Tuesday in a day that ran through a vast territory for a fresh high for the week, so far, at 1.1489 from a low of 1.1280. The American dollar was hit hard by lower-than-expected JOLTS data that has accompanied weak Manufacturing data and …

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• 4 October 2022 10:25 pm

  Wall Street Soaring On Dollar Weakens, US Jobs Data

  

  The yield on the benchmark 10-Year US Treasury note fell 9 basis points to 3.66%, a two-week low, while the dollar index, which tracks the greenback against a basket of six developed economy currencies, fell around a quarter point to 110.65. The S&P 500 meanwhile, rose 2.8%, while the Dow …

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• 4 October 2022 9:27 pm

  USD/CAD drops on softer US dollar, higher oil prices

  

  USD/CAD drops 100 pips on Tuesday, extending its weekly losses to almost 2%. Broad US dollar weakness and high crude oil prices undermine the USD/CAD, a tailwind for the CAD.The US economy is slowing as the Fed wishes, as portrayed by the JOLTs report missing estimations. Fed policymakers continue to …

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• 4 October 2022 8:40 pm

  EUR/USD approaching parity on softer US dollar

  

  The EUR/USD pair extends gains above 0.9900 and the next barrier is at 1.0015. the Euro gains more than 400 pips from last week’s low. On the other hand, the US Dollar retreated across the board on risk appetite and lower US yields.The EUR/USD rose even further during the American …

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