Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 4 October 2022 2:52 am

  Gold Price Benefits From Weaker US Dollar

  

  Gold price is holding on the $1701 per ounce level during the first US trading session in October. Gold seems to be currently defending its gains amid a broadly weaker US dollar. However, some economists believe that it stays immersed in a strong downtrend despite the recent respite afforded by …

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• 4 October 2022 1:22 am

  Is GBP/USD Able To Extend Recovery?

  

  In a striking twist of incidents, the UK government announced on Monday a U-turn of its latest expensive and unfunded tax cut policy. After the Bank of England’s intervention last week to calm the bond market, the British pound rallied and was able to consolidate for a while.While the Prime …

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• 4 October 2022 12:03 am

  Fed’s Williams: Fed still has a way to go

  

  New York Fed President John C. Williams, on Monday, said that the Fed still has a way to go, cites 4.6% median `23 dot.In earlier comments, Williams pointed to three layers of inflation, comparing it to an onion. “The outer layer consist of prices of globally traded commodities such as …

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• 3 October 2022 11:16 pm

  BoE Mann: UK inflation expectations are not de-anchored

  

  Bank of England policymaker Catherine Mann has said that UK inflation expectations are not de-anchored, has some concerns about medium-term upward drift.The Bank of England reaffirmed on Monday its willingness to buy up to 5 billion pounds ($5.65 billion) of long-dated bonds at each of its daily auctions, after rejecting …

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• 3 October 2022 10:36 pm

  Wall Street Creeps Out From September’s Losses

  

  US stocks rallied, on Monday, after the S&P 500 and Nasdaq Composite closed out their first three-quarter losing streak since the 2008 Global Financial Crisis and the Dow logged its first such span of losses since 2015.The benchmark S&P 500 index soared 2.4%, while the Dow Jones Industrial Average jumped …

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• 3 October 2022 9:29 pm

  What does ISM data tell about US economy?

  

  ISM Manufacturing Index dropped during September more than expected to the lowest level in two years. According to analysts, key measures point to slowing economic activity, but it inventories that hold the key to understanding what is happening in the US economy. Companies seem tired of having input prices that …

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• 3 October 2022 8:32 pm

  US stocks begin Q4 with biggest midday moves

  

  Several companies are making the biggest midday moves in Wall Street including Credit Suisse shares that rose 1.7%, reversing an earlier decline that sent the stock to a record low, after the bank over the weekend made a series of calls to calm investor fears about its financial health. In …

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• 3 October 2022 7:44 pm

  UK’s Finance minister acknowledges: Plan caused a little turbulence

  

  UK Finance Minister Kwasi Kwarteng acknowledged on Monday that the fiscal plan introduced by the government caused “a little disturbance” in markets. The GBP/USD pair preserves its bullish momentum after these comments and it was last seen rising 1.35% on the day at 1.1312.Additional takeaways“No more distractions”.“Our growth plan makes …

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• 3 October 2022 5:44 pm

  Brent jumps about $4 as OPEC+ studies the largest production cut since 2020

  

  Oil prices jumped by nearly $4 on Monday, October 3, as the OPEC+ group considers cutting production by more than one million barrels per day, what would be the largest cut since the Corona pandemic, in an attempt to support the market. Brent crude futures rose $3.64, or 4.3%, to …

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• 3 October 2022 5:05 pm

  Pound rises as the tax cut plan is abandoned and Yen declines

  

  The pound rose on Monday after Britain announced a plan to scrap the country’s highest income tax rate, while the yen slipped from the 145 level against the dollar. And sterling touched $ 1,128, after media reports that the plan was reversed, the highest rate of the currency since September …

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• 3 October 2022 4:06 pm

  Reuters: OPEC+ discusses reducing oil production by more than 1m bpd

  

  An OPEC source said that the OPEC + group of oil producers is looking at possible production cuts of more than one million barrels per day, excluding any voluntary cuts by any member country alone. The Organization of the Petroleum Exporting Countries (OPEC) and its allies, a group known as …

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• 3 October 2022 2:36 pm

  GBP jumps against USD after reports that the British government has abandoned plans to cut tax

  

  Sterling rose sharply on Monday morning after reports that the UK government would back down from its planned cut to the highest income tax bracket. Sterling rose 0.9% against the dollar to $1.12, back to the level it was at before Finance Minister Kwasi Quarting unveiled a raft of tax …

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• 3 October 2022 1:33 pm

  British Prime Minister forced to cancel the tax plans

  

  British Prime Minister Liz Truss was forced on Monday to abandon plans to cut the highest income tax rate, which has sparked a rebellion within her party and turmoil in financial markets. Terrace and its finance minister, Kwasi Quarting, announced a new “growth plan” on September 23 that would cut …

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