Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2022

• 4 November 2022 9:37 pm

  Canada’s Employment data supports the call for a 50bp hike in December

  

  The Canadian employment data, o Thursday, surpassed expectations with a positive change in employment of 108K above the 10K of market consensus. The surge could be a signal that some of the declines seen over the summer were simply statistical noise. Accordingly, the data support the call for a further …

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• 4 November 2022 8:29 pm

  Gold Rallies As US Dollar Struggles Post NFP

  

  The American Dollar faces difficulty finding ground, it is down by 1.39%, as the US Dollar Index reading reflects. Speculations that the US central bank could tighten in smaller increases mounted as the labour market gave signs of easing.The US 2s-10s yield curve inversion, the deepest since the 1980s, and …

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• 4 November 2022 7:31 pm

  EUR/USD faces risk to fall to 0.95 in the weeks ahead

  

  Some economists have revised down their EUR/USD forecast. Accordingly, the pair is expected to slump towards the 0.95 mark.It is not clear if the ECB can support the EUR with rates hikes. The EUR is not fully priced for the headwinds facing the Eurozone economy.There are no guarantees currently that …

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• 4 November 2022 4:49 pm

  US Nonfarm Payrolls rise by 261,000 in October vs. 200,000 expected

  

  Nonfarm Payrolls in the US rose by 261,000 in October, the data published by the US Bureau of Labor Statistics revealed on Friday. This reading came in much higher than the market expectation of 200,000. Additionally, September’s reading got revised higher to 315,000 from 263,000. The Unemployment Rate edged higher …

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• 4 November 2022 3:18 pm

  Dollar rises on hopes of easing Covid restrictions in China, US employment data awaits

  

  The euro and the pound sterling recouped some of their losses on Friday, but were still heading for their biggest weekly decline since September, ahead of US employment data that could confirm Federal Reserve Chairman Jerome Powell’s hint this week of continued monetary tightening, sending the dollar higher. Improved investor …

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• 4 November 2022 1:41 pm

  European shares open higher, supported by luxury goods and mining companies

  

  European shares opened higher on Friday, with luxury goods and mining companies leading the upward trend amid hopes that China will soon ease its strict restrictions related to the fight against the Coronavirus. The Stoxx 600 index rose 0.7% by 0813 GMT, supported by a 3.2% jump in mining stocks, …

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• 4 November 2022 12:42 pm

  Nikkei closes lower as US monetary tightening continues

  

  The Japanese Nikkei index ended lower Friday’s trading in the Tokyo Stock Exchange, as the tightening monetary policies of the US Federal Reserve prompted investors to sell on their return from a national holiday. However, strong gains in Chinese stocks limited losses. The Nikkei average fell 1.68 percent to 27,199.74 …

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• 4 November 2022 3:15 am

  Market Drivers – US Session 03/11/2022

  

  The markets focused on the Bank of England on Thursday. BoE hiked its benchmark rate by 75 bps as expected. However, policymakers downwardly revised the growth forecast, anticipating the recession will continue into the future. The EURUSD pair hovers around 0.9750 after falling to 0.9729. Commodity-linked currencies extended their slides …

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• 4 November 2022 3:01 am

  KSA to lower oil prices for Asia, US expected to release more SPR

  

  The early Asia session witnessed some important news on the oil market which could influence and impact crude oil prices in the following sessions.The US Department of Energy said it sold 15 million barrels of oil from the Strategic Petroleum Reserve in what is mainly described as the last batch …

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• 4 November 2022 2:05 am

  As India takes the lead, Canada joins the crypto race

  

  Canada’s crypto adoption rose to 8%, with more than 2.6 million investors currently. In the 2022 budget, a government’s plan to launch a financial sector legislative review was announced.Quebec’s energy supplier, Hydro-Quebec, proposed cutting electricity off for blockchain operations. India also is leading crypto adoption on a global scale, but …

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• 4 November 2022 12:58 am

  Sterling sinks on firmer US dollar post BoE’s hike

  

  The US dollar is firmer and was able to record gains against major currencies on Thursday after Fed Chair Jerome Powell signaled US interest rates will likely peak at a higher level than markets expected, while sterling fell after the Bank of England raised rates but warned of a “very …

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• 4 November 2022 12:02 am

  Gold, US dollar traders await key NFP data

  

  Nonfarm Payrolls in the US are forecast to increase by 200,000 in October. Gold is likely to react slightly stronger to a disappointing jobs report than an upbeat one. Gold price action has no historical apparent connection with NFP deviation four hours after the data release.The US Dollar Index looks …

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• 3 November 2022 10:46 pm

  US shares slide on Fed’s hawkish signals

  

  Wall Street’s main indexes extended their stay in the red territory and recorded losses for a fourth straight session on Thursday as investors got more concerned that the US central bank could raise interest rates for longer than previously expected.Market participants were hoping that the Fed, which raised rates by …

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