Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 11 October 2022 11:30 am

  China is accelerating the pace to control new Corona cases across the country

  

  Coronavirus cases are increasing across China, prompting many local authorities to tighten control over movement. According to a model from Nomura, about 4.8% of China’s GDP was negatively affected by COVID controls as of Monday, October 10. This is up from 4.3% last week. According to official announcements, three districts …

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• 11 October 2022 10:59 am

  Oil prices continue to decline as demand is affected by USD

  

  Oil prices fell on Tuesday, extending losses of about two percent in the previous session, as a stronger dollar and an increase in coronavirus infections in China led to fears of slowing global demand. By 0342 GMT, Brent crude futures fell 27 cents, or 0.3 percent, to $ 95.92 a …

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• 11 October 2022 2:24 am

  Market Drivers – US Session – 10/10/2022

  

  The prevalent negative market sentiment on Monday coincided with broader Russian attacks on Ukraine, firing multiple missiles that targeted communication and energy targets in and around Kyiv.Economic Data The economic calendar featured no significant economic data during the US session. Other Developments The US dollar extended last week’s momentum and …

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• 11 October 2022 1:50 am

  Germany rejects supporting joint EU debt amid energy crisis

  

  Germany has no plans to back a joint European Union debt issuance according to a government source. This statement comes to reject prior news from the European session, so, according to the source, Germany does not support joint EU debt to encounter the looming energy crisis.The government source told Reuters …

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• 11 October 2022 12:41 am

  Nasdaq closes at 2-year low on falling chip stocks

  

  US Stocks closed lower on Monday. Nasdaq Composite index hit lowest level in two years as tech shares were the hardest blow in the market because of thwarting interest rates exposing the high valuations of such shares and raise their cost of capital.The declines came as JPMorgan CEO Jamie Dimon …

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• 10 October 2022 11:30 pm

  USD/CAD Rallies On Stronger US Dollar, Declining Oil Prices

  

  As the US dollar hits one-week high at 1.3780 lower oil prices persist and hawkish Fed hopes are undermining the CAD, the USD/CAD pair is rallying to 1.40 before dropping to 1.32. The US dollar remains dominant across the board, with the market pricing in another aggressive rate hike by …

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• 10 October 2022 10:32 pm

  Gold Retreats On Stronger US Dollar, Yields

  

  As US CPI data is eyed, gold prices dropped significantly lower on Monday. Not only did the price take out $1,675, but it has also made a low of $1,665.77, taking on a key support area as the markets remain focused on the hawkish stance of the Fed.Gold dropped from …

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• 10 October 2022 9:39 pm

  Oil reacts to recession fears amid tight supply prospects

  

  Oil prices retreated by 1% on Monday as investors are concerned about economic storm clouds that could foretell a looming global recession and erosion of fuel demand amid probable tight supply .Brent crude futures fell 96 cents, or 1%, to $96.96 a barrel by 11:31 a.m. EDT (1531 GMT). West …

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• 10 October 2022 8:47 pm

  Stronger US Dollar Inspires Finding Value Abroad Ideas

  

  The US dollar’s performance undoubtedly attracts investors to favour it above most financial assets and rival currencies. This seems natural as most foreign currencies are now weak. Over the passage of several months in 2022, markets have noticed that European companies underperformed US peers by a significant margin. The same …

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• 10 October 2022 8:03 pm

  Bitcoin Falls On Market Volatility

  

  Bitcoin slides –1.15% and other cryptocurrencies are also weaker Monday due to negative sentiment for risk-sensitive assets that continued to deteriorate in the wake of Friday’s US jobs data. Crypto holders seem to be prepared for more volatility this week with key inflation data on the economic docket. Bitcoin is …

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• 10 October 2022 7:28 pm

  Germany endorses EU loans to mitigate energy crisis

  

  On Monday, Germany greed to support joint EU debt in order to encounter the continent’s energy crisis. Last Tuesday, European Economic Commissioner Paolo Gentiloni and Internal Market Commissioner Thierry Breton called for joint borrowing to finance the necessary response to the energy crisis in the Eurozone.German Finance Minister Christian Lindner, …

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• 10 October 2022 5:33 pm

  Eurozone Sentix Investor Confidence worsens in October

  

  The Eurozone Sentix Investor Confidence index deteriorated to -38.3 in October from -31.8 in September vs. -34.7 expected. The index fell to its lowest level since March 2020, signaling a deep recession. The current situation in the eurozone dropped to -35.5 points in October from -26.5 in September, the lowest …

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• 10 October 2022 4:36 pm

  German Gas Commission Experts: First relief measure should be in place by end-2022

  

  After 35 hours of consultations, the German Gas Committee on Monday presented its statement to the German government regarding its recommendations for the terms of the gas price support program in Germany. The committee’s statement addressed the following points: The cost of the proposed gas price support package is estimated …

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