Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 29 October 2022 3:45 am

  Market Drivers -US Session 28/10/2022

  

  The US Dollar Index, a gauge of the buck’s value vs. a basket of its rivals, advances 0.30% at 110.895. Market participants turn to the next week’s Open Market Committee (FOMC), in which most analysts expect the Fed to hike rates by 75 bps. However, December’s meeting is split between …

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• 29 October 2022 2:33 am

  GBP/JPY touches six-year highs

  

  The GBP/JPY registered strong gains during the week of 2.72%. The Bank of Japan intervention gave GBP/JPY buyers a better entry price around the weekly lows of 165.43.The GBP/JPY pair is still upward biased, about to test the February 2016 high at 175.01. The pair also rallies to fresh six-year …

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• 29 October 2022 12:57 am

  Gold retreats as US dollar strengthens

  

  Gold futures on the COMEX division of the New York Mercantile Exchange fell on Friday as the US dollar and US Treasury yields surged. The most active gold contract for December delivery fell 20.8 U.S. dollars, or 1.25 percent, to close at $1645.20 per ounce at the time of writing …

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• 29 October 2022 12:04 am

  Bezos Versus Yellen, Is US In A Recession?

  

  Treasury Secretary Janet Yellen said that she did not see signs of a recession in the near term as the US economy rebounded from six months of contraction.Yellen also noted the third quarter GDP data released Thursday underscored the strength of the US economy less than two weeks from the …

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• 28 October 2022 11:08 pm

  EUR/GBP sinks amid weaker euro, Sunak effect

  

  The euro has extended its losses on Friday after failing to regain 0.8650. Sunak’s appointment as British PM saved the British pound. It is commonly perceived that The GBP remains, supported by the Sunak effect.The euro depreciated against the pound for the fourth consecutive day on Friday, to test the …

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• 28 October 2022 10:16 pm

  House Democrats Aren’t Happy With Fed’s Hawkishness

  

  The Federal Reserve chairman Jerome Powell, this week, received separate letters from two Democratic lawmakers; Senator Sherrod Brown of Ohio and Senator John Hickenlooper of Colorado who called on the US central bank to slow its aggressive pace of interest rate hikes.Biden’s administration and several congressional Democrats have generally supported …

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• 28 October 2022 9:22 pm

  Explainer: Friday’s PCE data supports Fed’s next hike

  

  Friday’s new inflation data has indicated that while prices kept uncomfortably high in September, a slowdown in wage growth could be seen as a signal of some relief. That is an encouraging development for the Fed, which is battling to bring down the highest inflation in 40 years.The Personal Consumption …

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• 28 October 2022 8:57 pm

  Baker Hughes: Drilling Rigs Decrease By 3 This Week

  

  The number of total active drilling rigs in the United States fell 3 this week, according to new data from Baker Hughes published on Friday. The total rig count slipped to 768 this week—224 rigs higher than the rig count this time in 2021.Oil rigs in the United States fell …

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• 28 October 2022 6:28 pm

  US annual Core PCE inflation rises to 5.1% in September

  

  Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, stayed unchanged at 6.2% on a yearly basis in September, the US Bureau of Economic Analysis announced on Friday. The Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, edged higher to 5.1% on …

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• 28 October 2022 5:37 pm

  The French economy witness anemic growth in Q3, and inflation is at a record high

  

  The French economy posted anemic growth in the third quarter, household spending weakened and a massive jump in inflation in October signaled headwinds looming in the fourth quarter. Preliminary data from the National Institute of Statistics and Economic Studies showed that the economy grew by 0.2% in the July-September period, …

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• 28 October 2022 4:13 pm

  Germany: Annual CPI rises to 10.4% in October

  

  As measured by the Consumer Price Index (CPI), annual inflation in Germany climbed to 10.4% in October from 10% in September, Germany’s Destatis reported on Friday. This reading came in higher than the market expectation of 10.1%. Meanwhile, the Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) …

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• 28 October 2022 3:05 pm

  Yen falls after Bank of Japan sticks to monetary easing, dollar rises

  

  The yen fell on Friday as the Bank of Japan stuck to its accommodative policy, while the dollar attempted to recover from losses at the weekend on expectations that the Federal Reserve would signal a slowdown in interest rate hikes. The dollar was last up 0.8 percent against the yen …

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• 28 October 2022 1:46 pm

  The Japanese government approves a spending package to ease the impact of inflation

  

  The Japanese government on Friday unveiled a new stimulus spending package worth 39 trillion yen ($265 billion) that it said would boost gross domestic product by about 4.6 percent. The government said it would provide an additional budget for the current fiscal year of 29.6 trillion yen to fund the …

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