Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 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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• 3 October 2022 12:59 pm

  European shares begin trading in the fourth quarter of 2022 with a decline

  

  European shares fell on Monday as investors awaited factory activity data for clues to the resilience of the eurozone economy after last week’s sharp inflation report boosted expectations that the European Central Bank will raise interest rates aggressively. The pan-European Stoxx 600 index fell 1.3 percent by 0713 GMT, marking …

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• 3 October 2022 12:09 pm

  Nikkei rebounds, supported by chip and energy stocks

  

  Japan’s Nikkei rose sharply on Monday, as chip-related stocks rose and energy stocks tracked gains in oil prices. The Nikkei gained in the last hour of trading, to close 1.07 percent higher at 26,215.79 points, after falling 1.22 percent earlier in the day. The broader Topix index advanced 0.63 percent …

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• 3 October 2022 11:49 am

  Inflation in Turkey is at its highest level in 24 years, recording 83%

  

  Official data showed on Monday that Turkey’s annual inflation jumped to a new peak representing a 24-year high of 83.45 percent in September, less than expected after the central bank surprised markets by cutting interest rates twice in the past two months despite high prices. The Turkish Statistical Institute said …

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• 3 October 2022 9:52 am

  Financial Markets’ Weekly Recap, September 26-30

  

  The dollar fell last week, as commodity bulls took some breathing; However, this decline was short-lived, as the dollar jumped again to its highest level in 20 years. The dollar’s rise to a high of 112 from a one-week low came, moving back towards levels not seen since May 2002, …

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