Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 29 September 2022 12:08 am

  Gold reaches best level in almost a week

  

  Gold prices soared on Wednesday, bolstered by a deep cutback in global bond yields and a weaker US dollar. In the afternoon trade, the Gold Index was up about 2% to $1,670, its best level since last Thursday. Gold is trading at 1659.38 at the time of writing, so it …

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• 28 September 2022 11:17 pm

  EU to cap Russian oil price, accelerate sanctions

  

  The European Commission president, Ursula von der Leyen has promised to cap the price of Russian oil and impose further curbs on hi-tech trade, as part of the latest round of sanctions to “make the Kremlin pay” for the escalation of the war against Ukraine.Ursula von der Leyen said Russia …

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• 28 September 2022 11:00 pm

  EUR/GBP stabilizes after BoE’s decision

  

  Bank of England intervened by buying government bonds so as to stabilize the bond market. This move was able to strengthen the Pound whose performance improved on the BoE’s announcement.The EUR/GBP pair is hovering around 0.8940 practically flat for the day after moments of extreme volatility following the surprise announcement …

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• 28 September 2022 9:32 pm

  EUR/USD sharply climbs on weaker US dollar

  

  The EUR/USD pair bounces from two-decade lows recorded during the European session, gaining 1.34% in the day, boosted by improved in market sentiment and a weaker US dollar, despite the Fed’s hawkish stance, opening the door for aggressive tightening by the end of the year.The Euro began trading nearby the …

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• 28 September 2022 9:15 pm

  IMF criticizes UK tax cuts, urges reconsideration

  

  The International Monetary Fund has joined a wide range of institutions worldwide criticizing the UK’s huge tax cuts in a plan that has exerted mega pressure on the pound which was plunging to a record low.With this rare criticism of the UK’s large developed economy, the International Monetary Fund is …

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• 28 September 2022 8:23 pm

  US stocks rise as US, UK yields fall after BoE intervention

  

  On Wednesday, US stock indexes turned higher and rebounded, largely helped by sliding Treasury yields from multiyear highs, and a surprise intervention from the Bank of England in the UK gilt, or government-issued bonds market, but Wall Street stocks were still in danger of recording a seven-day losing streak.On Tuesday, …

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• 28 September 2022 7:29 pm

  UK’s Kwarteng won’t resign, no reversal in policy

  

  It was reported on Wednesday that British Finance Minister Kwai Kwarteng will not resign over the market reaction to the fiscal plan and added that there will no reversal of policy.Meanwhile, the Bank of England announced the gilt market intervention amid growing fears overs insolvencies of pension funds by as …

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• 28 September 2022 6:09 pm

  Market Drivers – European Session 28/9/2022

  

  The rise of the dollar against sterling was also affected by British domestic factors, after the British government announced last week a plan to cut taxes and increase borrowing. This decreased sterling to $1.0327 on Monday, a record low, after settling near the $1.1300 level ahead of the UK’s budget …

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• 28 September 2022 5:43 pm

  Gold loses its luster and hits its lowest level in 30 months

  

  On Wednesday, gold prices hit a new low, the lowest in 30 months, as the allure of the precious metal was undermined amid the rise in the dollar and US Treasury yields due to expectations of a sharper rate hike by the Federal Reserve. By 0854 GMT, spot gold fell …

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• 28 September 2022 4:06 pm

  Oil prices stabilize after the dollar’s rise compensated for the decline in US production

  

  Oil prices stabilized on Wednesday as a stronger dollar and rising crude oil inventories offset the decline in US production caused by Hurricane Ian. Brent crude futures rose five cents, or 0.06 percent, to $86.32 a barrel by 0937 GMT, while West Texas Intermediate crude fell nine cents, or 0.1 …

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• 28 September 2022 2:59 pm

  USD is at its highest level in 20 years and the sterling is under pressure

  Nervous financial markets pushed the dollar to a two-decade high on Wednesday, Sept. 28, as rising interest rates around the world fueled recession fears. The pound slid further after recent warnings about Britain’s tax cut plans. The US dollar index rose by about 0.5% to a new record level at …

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• 28 September 2022 1:35 pm

  European stocks fall at the open on increasing recession fears

  

  European shares opened lower on Wednesday, led by heavy selling in Asian markets as the escalating energy crisis in the region and the continued rise in global bond yields fueled fears of a recession. The European Stoxx 600 index fell 0.8 percent by 0707 GMT, to continue its decline for …

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• 28 September 2022 12:54 pm

  Japan’s Nikkei closes near 3-month low, hit by recession fears

  

  Japan’s Nikkei index ended trading on Wednesday near its lowest level in three months, as mounting fears of a global recession weighed on Wall Street on Tuesday evening and a media report that Apple Inc. abandoned plans to produce more iPhone phones, dented sentiment. The Nikkei fell 1.5 percent to …

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