Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 17 October 2022 9:20 pm

  USD/CHF reverses, extends below parity

  

  On Monday, The US dollar is surrendering most of the ground gained last week. The USD/CHF pair has declined by more than 1% from Friday’s highs at 1.0065, to reach session lows below 1.0000 at the time of writing.In the long run, however, the current risk rally is likely to …

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• 17 October 2022 8:23 pm

  UK’s Jeremy Hunt: Many difficult decisions to be announced

  

  The new British Finance Minister Jeremy Hunt is speaking before the House of Commons following the Leader of the House Penny Mordaunt.Earlier on Monday, Hunt announced the UK government will reverse almost all tax measures announced on the mini-budget. Speaking to MPs, UK Finance Minister said that there are still …

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• 17 October 2022 7:23 pm

  BoC: Though inflation eased, it is still elevated

  

  The Bank of Canada released on Monday the Business Outlook Survey for Q3. The report says that “business confidence has softened”, “many firms expect slower sales growth as interest rates rise and demand growth shifts closer to pre-pandemic levels”.The USD/CAD hovers near daily lows after the release hovering around 1.3735, …

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• 17 October 2022 5:39 pm

  BofA earnings beat expectations thanks to high-interest rates and volatile markets

  

  Bank of America said Monday, October 17th, that earnings and earnings beat expectations for fixed income earnings and interest earnings in the third quarter, thanks to volatile markets and higher interest rates. The bank said its third-quarter profit fell 8% to $7.1 billion, or 81 cents a share, as the …

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• 17 October 2022 4:30 pm

  Ukraine’s grain exports in October are almost back to their pre-war levels

  

  Ukraine’s grain exports in the first 17 days of October were 2.4% lower than the same period in 2021, data from the Ukrainian Ministry of Agriculture showed on Monday, October 17, despite the closure of many seaports and the Russian invasion. The country’s grain exports have fallen since February after …

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• 17 October 2022 2:28 pm

  European shares rise as investors await British financial plan

  

  European shares rose on Monday, boosted by the rise of energy and utilities companies, while investors awaited Britain’s financial plan and earnings reports for evidence of corporate strength amid concerns about rising interest rates and a possible recession. The pan-European Stoxx 600 index rose 0.3 percent, extending its gains for …

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• 17 October 2022 2:27 pm

  Oil steady as recession fears dispel positive signals from China

  

  Oil prices were flat on Monday as concerns that rising inflation and energy costs could push the global economy into recession as China continued to loosen its monetary policy. Brent crude futures rose 17 cents, or 0.2 percent, to $91.80 a barrel by 0915 GMT, recovering from a 6.4 percent …

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• 17 October 2022 12:20 pm

  Kuwait welcomes the decision of OPEC + to cut production

  

  Kuwait News Agency (KUNA) said, quoting the CEO of the Kuwait Petroleum Corporation, that Kuwait on Sunday welcomed the decision of OPEC + to cut production by two million barrels per day. Sheikh Nawaf Al-Sabah affirmed Kuwait’s keenness to maintain balance in the oil markets for the benefit of consumers …

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• 17 October 2022 11:45 am

  Oil rebounds after dollar’s decline

  

  Oil prices rose during thin trading in early Asian markets on Monday. At the same time, the dollar fell sharply as investors awaited data from China to measure demand in the world’s largest importer of crude oil. Brent crude futures rose 85 cents, or 0.9 percent, to $92.48 a barrel …

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• 17 October 2022 6:28 am

  Markets’ Weekly Recap, October 10-14

  

  US stocks fell on Friday, as rising inflation expectations kept alive fears that the path of aggressive Federal Reserve interest rate hikes could lead to a recession. In the final session of a volatile week, stocks opened higher before changing course after data from the University of Michigan showed consumer …

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• 15 October 2022 4:29 am

  Market Drivers – US Session 14/10/2022

  

  The 10-year US Treasury yields travelled above 4% on Friday, while the US dollar index neared 20-year highs after this week’s macro data paving the way for more rate hikes by Fed.In response, gold dropped below the $1,650 an ounce level, with December futures last trading at $1,643.87, down 1.74% …

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• 15 October 2022 3:18 am

  Gold price endangered by soaring Treasury yields

  

  Gold market is ending the week down nearly $90 from its October highs on renewed concerns regarding the expectations of Fed’s very aggressive stance into end of 2022.The 10-year US Treasury yields traveled above 4% on Friday, while the US dollar index neared 20-year highs after this week’s macro data …

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• 15 October 2022 2:19 am

  US banks’ profits slide on negative economic expectations

  

  Q3 earnings and profits slid at Wall Street’s biggest banks as they anticipate weaker economy while investment banking was hit hard, but investors saw a small glimpse of light with some banks beating estimates.Central banks fight inflation which is expected to cause an economic slowdown. Fed raised interest rate from …

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