Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 21 October 2022 12:18 am

  Musk’s Puzzle, plans to sell, insists Tesla shares are only going up

  

  Tesla CEO claimed that his company would be worth more than Apple and Saudi Aramco, combined. Namely over $10 trillion. Tesla’s market value is $650 billion, down 7% after the e-vehicle maker had missed a projection of 50% growth in 2022.Musk’s words would logically imply that Tesla shares are an …

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• 20 October 2022 11:13 pm

  UK Bond traders warn against anything but tightening

  

  Traders in UK government bonds were unintentionally contributing to toppling Liz Truss from the premier position. So, what could be the next goal? Perhaps the logical next goal is to ensure that the successor of Truss will stick to the fiscal discipline required to prop up the UK’s fragile financial …

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• 20 October 2022 10:12 pm

  Fed’s Cook, Harker Still Support Aggressive Stance

  

  On Thursday, Federal Reserve Governor Lisa Cook said that inflation in the US is still remains unacceptably high and interest rates will need to keep rising to get it under control.According to Cook, “Inflation is too high, it must come down and we will keep at it until the job …

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• 20 October 2022 9:21 pm

  Could Boris Johnson run in Tory leadership race?

  

  After UK PM Liz Truss resigned on Thursday, she became the shortest-serving prime minister in history. Attention is now set on the Tory leadership race.The election at the Conservative Party could take place Friday, Saturday and Sunday, according to UK newspapers. In case of having an outright winner, the new …

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• 20 October 2022 8:27 pm

  WTI trades higher on several factors

  

  WTI futures are trading higher for the second consecutive day on Thursday, to depart the last two weeks’ downtrend. WTI crude has extended its recovery from Tuesday’s lows at $82.15 to session highs at $87.10 before retreating around $86.00 zone. The American crude is trading at $84.47 per barrel at …

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• 20 October 2022 7:34 pm

  Sterling rallies on November hike bets, Liz Truss Departure

  

  The British Pound rallied on Thursday and investors reined in their bets on a big Bank of England interest rate hike in November as UK Prime Minister Liz Truss announced her resignation just six weeks after she was appointed.At the time of writing the GBP/USD pair is trading at 1.129 …

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• 20 October 2022 6:13 pm

  Market Drivers – European Session 20/10/2022

  

  The recently-elected UK Prime Minister Liz Truss makes a statement this Thursday saying she will resign. Truss will remain in place until a new leader is chosen and the leadership election will be completed in the next week. Given that the markets have been anticipating the UK PM’s resignation, the …

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• 20 October 2022 5:02 pm

  US: Weekly Initial Jobless Claims fall to 214K

  

  There were 214,000 initial jobless claims in the week ending October 14, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print follows the previous week’s downward revised reading of 226,000 and beats market expectations for a rise to 230,000. Further details of the …

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• 20 October 2022 5:01 pm

  Liz Truss to quit as prime minister

  

  Liz Truss is to issue a statement resigning as prime minister after just 45 days, following the near-complete evaporation of her political authority, a process begun by last month’s disastrous mini-budget. “It’s over,” a source said. Truss, who would become the shortest-serving prime minister in UK history, has been under …

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• 20 October 2022 3:18 pm

  Gold rises with dollar weakness and interest rate hike fears curb gains

  

  Gold prices rose on Thursday due to a slight decline in the dollar, although higher Treasury yields and the prospect of further interest rate hikes by the Federal Reserve capped gains. By 0909 GMT, spot gold rose 0.2 percent to $1,631.54 an ounce. US gold futures rose 0.1 percent to …

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• 20 October 2022 2:05 pm

  European shares fall as profits slump in chip maker Nokia

  

  European shares fell on Thursday, as investors worried about persistent inflation and tightened central bank measures, while slumping profits for chip maker B.E. Semiconductor and telecommunications company Nokia raised fears of an economic slowdown. Nokia shares fell 4.1 percent after the Finnish telecom equipment company’s quarterly operating profit fell short …

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• 20 October 2022 12:17 pm

  yen fell to its lowest level since 1990 at 150 against dollar

  

  The Japanese yen fell below 150 against the US dollar, levels since August 1990. It is scheduled to start scheduled for scheduled to start from two days. Policymakers have ruled out adopting a new policy to question the return of the policy. And on Thursday, Japan’s 10-year government debt yield …

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• 20 October 2022 11:05 am

  Gold is at its lowest level in 3 weeks, with rise of dollar and bond yields

  

  Gold prices hovered at a three-week low on Thursday, pressured by the rise in the dollar and the yield on Treasury bonds, amid fears that the Federal Reserve will continue to raise interest rates by a significant amount. And by 0049 GMT, gold fell in spot transactions 0.1 percent to …

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