Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 12 October 2022 5:06 pm

  Putin: Russia will keep oil export and production rates at current levels until 2025

  

  Russian President Vladimir Putin said on Wednesday that Russia intends to keep oil production and export rates at current levels until 2025, adding that Moscow will not give up its global leadership position in the global energy market despite Western sanctions. Putin also praised the OPEC+ group, which announced last …

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• 12 October 2022 3:11 pm

  Eurozone Industrial Production jumps 1.5% MoM in August

  

  Eurozone’s Industrial Production increased more than expected in August, the official data published by Eurostat showed on Wednesday, suggesting that the bloc’s manufacturing sector activity is regaining traction. The industrial output in the old continent jumped by 1.5% MoM vs. a 0.6% increase expected and -2.3% last. On an annualized …

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• 12 October 2022 2:17 pm

  Gold shines as the dollar declines ahead of the Fed minutes

  

  Gold prices rose on Wednesday, supported by a slight decline in the dollar, as investors looked forward to the release of the minutes of the Federal Reserve’s monetary policy meeting for the month of September, as well as inflation data, for indications on the path of raising interest rates. And …

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• 12 October 2022 1:27 pm

  European shares fall due to mixed business results

  

  European shares fell on Wednesday after a batch of mixed business results highlighted the impact of tight monetary policy and rising inflation on corporate earnings. The pan-European STOXX 600 index fell 0.2 percent by 0706 GMT, the sixth consecutive session of losses, with the real estate and banking sectors leading …

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• 12 October 2022 11:42 am

  UK Manufacturing Production drops 1.6% MoM in August

  

  The industrial sector recovery lost momentum in August, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Wednesday. Manufacturing output arrived at -1.6% MoM in August versus 0% expectations and 0.1% booked in July while total industrial output came in at -1.8% …

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• 12 October 2022 11:19 am

  UK GDP contracts 0.3% MoM in August

  

  The UK Gross Domestic Product (GDP) monthly release showed on Wednesday that the economy returned to a contraction in August, arriving at -0.3% vs. 0% expectations and 0.2% previous. Meanwhile, the Index of services (August) came in at -0.1% 3M/3M vs. 0.2% estimate and -0.2% prior. The Cable remains little …

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• 12 October 2022 10:25 am

  Oil prices fall with the rise of USD

  

  Oil prices fell for the third consecutive session on Wednesday as the dollar strengthened and investors prepared to receive US inflation data amid concerns about fuel demand raised by the risks of a global recession and the tightening of Covid-19 restrictions in China. By 0410 GMT, Brent crude futures fell …

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• 12 October 2022 3:17 am

  Market Drivers – US Session 11/10/2022

  

  The US Dollar is strong at the end of Tuesday after intraday reverse that kept it in the red territory for most of the US trading session. The American Dollar extended its advance against its safe-haven rivals, with USD/CHF now quoting at 0.9960 and USD/JPY at 145.80.US Treasury bonds fell …

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• 12 October 2022 2:28 am

  EUR/USD catches minimal gains on BoE’s Baily remarks

  

  The EUR/USD pair is barely up 0.08% on Tuesday, following BoE’s Baily remarks, which deteriorated the market sentiment. During the European session, the ECB Chief Economist Philip Lane said that the ECB would impact the markets by hiking rates than selling its hefty pile of bonds on Tuesday. Given that …

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• 12 October 2022 1:32 am

  EUR/GBP benefits from remarks by BoE’s Bailey

  

  The Euro breaks above 0.8800 to hit session highs at 0.8855. the EUR/GBP pair is trading at 0.8841 at the time of writing. Bank of England governor Andrew Bailey announces the end of the emergency support program and subsequently the pound falls.Additionally; BoE governor warns about unprecedented volatility in the …

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• 12 October 2022 12:31 am

  General Motors launching energy products

  

  The next step taken by General Motors will feature providing new energy products to households, businesses and utilities. Meanwhile, competition is heating between GM and Tesla in the field of making and selling electric vehicles.GM’s new line will be housed under a new business unit called GM Energy and covers …

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• 11 October 2022 11:43 pm

  Why Is IMF Warning Of Tough 2023?

  

  The International Monetary Fund has reduced its forecast for the global economy, but this time with a loud warning, claiming that “The worst is yet to come, and for many people 2023 will feel like a recession”. “More than a third of the global economy will contract this year or …

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• 11 October 2022 10:55 pm

  Bitcoin declines ahead of CPI data

  

  Bitcoin price performance declines in line with US stocks ahead of classic volatility caused by the US Consumer Price Index data. The cryptocurrency’s price followed analysts’ predictions with mixed action continuing around $19,000 at Tuesday’s Wall Street open. At the time of writing, bitcoin is trading at $18972.The BTC/USD pair …

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