Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2022

• 1 November 2022 10:22 am

  Biden calls on oil companies to “stop profiting from war” and threatens them with taxes

  

  US President Joe Biden on Monday called on oil and gas companies to use their record profits to cut costs for Americans and increase production, or pay a higher tax rate, as he struggled to rein in gasoline prices a week before the midterm congressional elections. In remarks at the …

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• 1 November 2022 3:39 am

  Market Drivers – US Session 31/10/2022

  

  The US dollar surged on Monday with uneven gains against most major rival currencies. The EUR/USD pair lost the 0.9900 threshold and trades near a daily low of 0.9872, while GBP/USD trades around 1.1470. Commodity-linked currencies recovered some ground ahead of the close as Wall Street trimmed most of its …

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• 1 November 2022 3:31 am

  Dow closes lower on end of best month since 1976

  

  US Stocks retreated on Monday, but the Dow capped off October 2022 as its month of best performance since 1976 and all the major averages recorded a successive two-month with losses.The Dow Jones Industrial Average fell 128.85 points, or 0.39%, to settle at 32,732.95. The S&P 500 shed 0.75% to …

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• 1 November 2022 2:35 am

  Us Dollar Rises Ahead Of FOMC Meeting

  

  The dollar gained across the board on Monday, regaining some of its momentum which it lost earlier in October. The American currency has been boosted by bets and expectations of another jumbo rate hike by this week’s Fed monetary policy meeting.The dollar’s gains could be limited if the Fed signals …

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• 1 November 2022 1:21 am

  Biden threatens oil companies with higher tax

  

  US President Biden warned, on Monday, that oil companies would face a “higher tax” on their excess profits if they don’t reinvest in increasing output so as to bring prices at the pump down. “They have a responsibility to act in the interest of their consumers, their community and their …

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• 1 November 2022 12:43 am

  Sunak to sign UK tax as Sterling remains under pressure

  

  Rishi Sunak, is preparing to decide broad tax raises as the new British prime minister looks to plug a £50bn hole in public finances.Treasury insiders said, on Monday, that Sunak and his finance minister Jeremy Hunt agreed that while “those with the broadest shoulders should be asked to bear the …

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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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