Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 26 October 2022 11:47 am

  Turkey fines Meta about $18.6 million for violating competition law

  

  Turkey’s Competition Board, the competition protection and antitrust body, said on Wednesday (October 26) it had fined Facebook’s owner Meta platforms 346.72 million lira ($18.63 million) for violating competition law. The council added in a statement that it decided that the company obstructed its competitors operating in the field of …

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• 26 October 2022 10:28 am

  Oil falls on rising US inventories, supply fears limit losses

  

  Oil prices fell on Wednesday after industry data showed that crude stocks in the United States rose more than expected, but supply concerns limited losses. Brent crude futures for December were down 72 cents, or 0.8 percent, at $92.80 a barrel by 0330 GMT, after closing up 26 cents in …

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• 26 October 2022 3:33 am

  Market Drivers – US Session 26/10/2022

  

  The US dollar gave up during the US session, finishing the day with losses against its major rival currencies. The EUR/USD pair trades near parity early Wednesday and ahead of important monetary policy announcements scheduled for next Thursday.Commodity-linked currencies benefited from higher US equities. AUD/USD flirts with 0.6500 while the …

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• 26 October 2022 2:40 am

  Improved sentiment pushes US stocks higher

  

  On Tuesday, US stocks closed another US session higher as investors monitored the performance of the US dollar and the declining Treasury yields in addition to fresh US macroeconomic data for extracting clues concerning the status of the United States economy.The Dow Jones Industrial Average closed 337.12 points higher, or …

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• 26 October 2022 12:40 am

  UK politics save the day of GBP/USD

  

  The GBP/USD pair has gained over 1.7% and benefited from the US dollar’s decline on Tuesday. It is convenient to say that UK politics saved the day for sterling bulls. The pair is trading at 1.475Investors welcomed Rishi Sunak as the new UK prime minister where, in his first speech, …

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• 25 October 2022 11:49 pm

  WTI rises amid raised appetite

  

  WTI crude oil rose on Tuesday on recession linked concerns. The overall scene boosted risk assets to rally. Output cut by OPEC+ next month as well as the Fed’s policy decision on November 3 are two additional factors. WTI crude oil trades at $84.69 per barrel, trading 0.17% higher between …

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• 25 October 2022 11:17 pm

  Sunak, UK Economy Prepare For Difficult Tests

  

  The good old days when Rishi Sunak was finance minister are practically different from the days awaiting him as prime minister. The UK government seems under pressure to show how it will keep borrowing and how to restore Britain’s fiscal credibility in markets.With more than two years as finance minister …

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• 25 October 2022 10:06 pm

  USD/CAD hovers around 1.3632 ahead of BoC’s decision

  

  The USD/CAD pair falls below its opening price by 0.57% as expectations and bets accelerate on Fed’s intention to slow the pace of policy and monetary tightening. These bets do weaken the US Dollar.Disappointing US housing data and consumer confidence deterioration also hurt the American dollar. Estimates refer to the …

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• 25 October 2022 8:50 pm

  AUD/USD rallies as the US dollar retreats

  

  On Tuesday, the brighter market sentiment hurt the USD, which lost ground against its main peers. The Australian dollar, on the other hand, abandoned previous weakness and surged nearly 100 pips in the early US Trading session, reaching above 0.6400. The AUD/USD pair appreciates 1.3% on the day, to erase …

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• 25 October 2022 8:02 pm

  Gold benefits from declining US bond yields

  

  Gold price advances early in the New York session, up by 0.33% on falling US Treasury yields, while bonds climb amid further expectations that Fed could slow the pace of its rate hikes and monetary tightening measures. The US dollar weakened, constituting a chance of momentum for the precious metal. …

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• 25 October 2022 7:19 pm

  US Consumer Confidence Deteriorates In October

  

  Consumer confidence in the US deteriorated in October. The US Dollar Index trades deep in negative territory below 111.00. the Dollar Index reading at the time of writing is 110.84. The data published by the Conference Board showed on Tuesday that the Consumer Confidence Index declined to 102.5 in October …

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• 25 October 2022 5:55 pm

  Gold prices decline with the stability of the dollar

  

  Gold prices fell on Tuesday as the dollar stabilized, but expectations that the Federal Reserve would slow the pace of interest rate hikes limited the precious metal’s losses. Spot gold fell 0.5% to $1,640.62 an ounce by 1238 GMT, while US gold futures fell 0.6 percent to $1,644.70. The dollar …

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• 25 October 2022 5:09 pm

  US: Housing Price Index at -0.7% in August

  

  The monthly data published by the US Federal Housing Finance Agency showed on Tuesday that the Housing Price Index fell by 0.7% on a monthly basis in August. This print followed July’s decrease of 0.6% and came in lower than the market expectation of -0.3%. Meanwhile, the S&P/Case-Shiller Home Price …

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