Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 26 October 2022 1:29 pm

  The new British Prime Minister holds his first cabinet meeting to start reforming the economy

  

  British Prime Minister Rishi Sunak held his first cabinet meeting on Wednesday, a day after taking office with a promise to fix the previous government’s mistakes and stabilize the economy. High on Sunak’s agenda is preparing the financial market’s eagerly awaited financial statement, due out on October 31, but the …

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• 26 October 2022 12:26 pm

  Barclays posts profit beat for the third quarter on strong bond trading revenue

  

  Wednesday reported an unexpected rise in third-quarter earnings on the back of strong trading revenues, despite a continued drag from a costly U.S. trading error. The British lender posted a net profit attributable to shareholders of £1.512 billion ($1.73 billion), above consensus analyst expectations of £1.152 billion and marking an …

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• 26 October 2022 12:14 pm

  Nikkei closes at a 7-week high after a third straight day of gains

  

  Japanese shares closed higher for a third day in a row on Wednesday. Still, gains were limited amid a decline in US futures contracts and with local investors wary of unexpectedly weak business results from technology giants such as Alphabet and Microsoft. The Nikkei rose 0.67 percent and hit more …

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• 26 October 2022 12:12 pm

  The results of major technology companies pressure European stocks

  

  European shares fell on Wednesday from their highest levels in a month, and technology stocks led the losses after disappointing results from major companies on Wall Street raised fears of slowing economic growth. The pan-European Stoxx 600 index was down 0.2 percent by 0719 GMT. In the previous session, the …

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• 26 October 2022 11:47 am

  Turkey fines Meta about $18.6 million for violating competition law

  

  Turkey’s Competition Board, the competition protection and antitrust body, said on Wednesday (October 26) it had fined Facebook’s owner Meta platforms 346.72 million lira ($18.63 million) for violating competition law. The council added in a statement that it decided that the company obstructed its competitors operating in the field of …

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• 26 October 2022 10:28 am

  Oil falls on rising US inventories, supply fears limit losses

  

  Oil prices fell on Wednesday after industry data showed that crude stocks in the United States rose more than expected, but supply concerns limited losses. Brent crude futures for December were down 72 cents, or 0.8 percent, at $92.80 a barrel by 0330 GMT, after closing up 26 cents in …

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• 26 October 2022 3:33 am

  Market Drivers – US Session 26/10/2022

  

  The US dollar gave up during the US session, finishing the day with losses against its major rival currencies. The EUR/USD pair trades near parity early Wednesday and ahead of important monetary policy announcements scheduled for next Thursday.Commodity-linked currencies benefited from higher US equities. AUD/USD flirts with 0.6500 while the …

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• 26 October 2022 2:40 am

  Improved sentiment pushes US stocks higher

  

  On Tuesday, US stocks closed another US session higher as investors monitored the performance of the US dollar and the declining Treasury yields in addition to fresh US macroeconomic data for extracting clues concerning the status of the United States economy.The Dow Jones Industrial Average closed 337.12 points higher, or …

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• 26 October 2022 12:40 am

  UK politics save the day of GBP/USD

  

  The GBP/USD pair has gained over 1.7% and benefited from the US dollar’s decline on Tuesday. It is convenient to say that UK politics saved the day for sterling bulls. The pair is trading at 1.475Investors welcomed Rishi Sunak as the new UK prime minister where, in his first speech, …

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• 25 October 2022 11:49 pm

  WTI rises amid raised appetite

  

  WTI crude oil rose on Tuesday on recession linked concerns. The overall scene boosted risk assets to rally. Output cut by OPEC+ next month as well as the Fed’s policy decision on November 3 are two additional factors. WTI crude oil trades at $84.69 per barrel, trading 0.17% higher between …

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• 25 October 2022 11:17 pm

  Sunak, UK Economy Prepare For Difficult Tests

  

  The good old days when Rishi Sunak was finance minister are practically different from the days awaiting him as prime minister. The UK government seems under pressure to show how it will keep borrowing and how to restore Britain’s fiscal credibility in markets.With more than two years as finance minister …

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• 25 October 2022 10:06 pm

  USD/CAD hovers around 1.3632 ahead of BoC’s decision

  

  The USD/CAD pair falls below its opening price by 0.57% as expectations and bets accelerate on Fed’s intention to slow the pace of policy and monetary tightening. These bets do weaken the US Dollar.Disappointing US housing data and consumer confidence deterioration also hurt the American dollar. Estimates refer to the …

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• 25 October 2022 8:50 pm

  AUD/USD rallies as the US dollar retreats

  

  On Tuesday, the brighter market sentiment hurt the USD, which lost ground against its main peers. The Australian dollar, on the other hand, abandoned previous weakness and surged nearly 100 pips in the early US Trading session, reaching above 0.6400. The AUD/USD pair appreciates 1.3% on the day, to erase …

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