Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2022

• 3 November 2022 8:23 pm

  NFP expected to lose steam in October

  

  On Friday, the US official employment report will be released. Analysts expect an increase in payrolls of 220K, slightly above the market consensus of 200K. They see the dollar trading in the direction of the data. Payrolls are expected to have continued to lose steam in October, reflecting modest deceleration …

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• 3 November 2022 7:32 pm

  GBPUSD expected to trade at 1.06 by the end of 2023 Q1

  

  Economists at Wells Fargo now forecast slightly less tightening from the Bank of England than previously. Subsequently, the GBPUSD pair is set to plunge toward 1.06 by the end of the first quarter of 2023. They also expect Policy rate to peak at 3.75%“We expect a 50 bps rate increase …

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• 3 November 2022 5:21 pm

  BOE hikes policy rate by 75 bps to 3% as expected

  

  Following its November policy meeting, the Bank of England (BoE) announced that it raised the policy rate by 75 basis points (bps) to 3%. Policymakers voted 7-2 in favour of this decision. One policymaker voted for a 25 bps hike and one voted for a 50 bps. Bank of England (BoE) …

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• 3 November 2022 4:54 pm

  Inflation in Turkey jumps to the highest level in 24 years at 85.5% after the interest rate cut

  

  Official data published on Thursday showed that inflation in Turkey rose in October year-on-year to a 24-year high of 85.51 percent, slightly less than expected after the central bank cut interest rates three times in three months despite rising prices. Inflation has risen since last year, with the lira plummeting …

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• 3 November 2022 3:08 pm

  Dollar rises as the US Central threatens to raise interest rates

  

  The dollar rose on Thursday, buoyed by a sharp rise in US Treasury yields after the Federal Reserve indicated that interest rates are likely to reach a peak higher than current investor expectations, while the pound fell ahead of its monetary policy meeting. for the Bank of England. On Wednesday, …

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• 3 November 2022 2:11 pm

  European stocks open sharply lower as the US central bank hints at a peak in interest rates

  

  European shares started trading sharply lower on Thursday after the Federal Reserve dashed any hopes of easing monetary tightening policies aimed at curbing inflation, and even hinted at smaller interest rate hikes for a longer period. The pan-European STOXX 600 index fell 0.9% by 0810 GMT, with interest-rate-sensitive European technology …

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• 3 November 2022 1:41 pm

  Oil falls on demand concerns after US interest rate hike

  

  Oil prices fell on Thursday after the Federal Reserve raised interest rates, which led to the rise of the dollar and increased fears of a global recession that will hurt demand for fuel; however, concerns about supplies limited the decline in prices. By 0750 GMT, Brent crude was down 85 …

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• 3 November 2022 2:28 am

  Market Drivers – US Session 02/11/2022

  

  The US central bank decided a jumbo 75-basis points rate hike, and the accompanying statement suggested policymakers would soon slow the pace of quantitative tightening. US Dollar Biggest Winner From Fed’s DecisionThe US dollar finished Wednesday higher across the board following a volatile American session. The US Federal Reserve was …

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• 3 November 2022 1:42 am

  Gold retreats from weekly highs on Fed’s rate decision

  

  The Gold Index, XAU/USD hit a daily high at $1669 before erasing its gains later as traders are digesting the remarks by Fed Chair Jerome Powell and the Fed’s rate policy statement.If XAU/USD clears the $1617.30 support, a re-test of $1600 is potential. Gold price erased Tuesday’s gains following the …

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• 3 November 2022 1:27 am

  Oil Prices Benefit From Bullish EIA Data

  

  Crude oil prices moved up on Wednesday after the US Energy Information Administration reported an inventory draw of 3.1 million barrels for the week ending on Friday, October 28. At 436.8 million barrels, inventories were 3% below the five-year average for this time of the year according to the EIA. …

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• 3 November 2022 12:39 am

  AUD/USD hits week low post Powell’s speech

  

  The Australian dollar undergoes a significant U-turns from 0.9490 and dives to one-week lows at 0.9350. analysts believe that Fed’s Powell is still taking a hawkish stance against hot inflation in front of the journalists, so, his remarks are pushing the USD higher.The dollar suffered following FOMC’s statement which is …

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• 2 November 2022 11:49 pm

  Fed’s monetary policy statement in brief

  

  Regarding the monetary policy statement, the Fed acknowledged that US economic growth was slowing down in spending and production and commented that labour market conditions remain “robust” and the unemployment rate is slow. Fed policymakers added that inflation remains elevated, a reflection of the supply/demand imbalances blamed on the pandemic …

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• 2 November 2022 11:38 pm

  US stocks witness volatile trading on FOMC rate decision

  

  The Federal Reserve hiked its target interest rate by three quarters of a percentage point, as expected. Chair Jerome Powell said that the Fed could start to dial back rate hikes in future meetings, giving the economy a bit of a breather from punishing interest rate spikes that have slowed …

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