Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 31 October 2022 12:51 pm

  Eurozone HICP Forecasts

  

  Eurostat will release Harmonised Index of Consumer Prices (HICP) data for October on Monday, October 31 at 10:00 GMT. As we get closer to the release time, here are the expectations forecast by the economists and researchers of three major banks regarding the upcoming EU inflation print. TDS “We look …

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• 31 October 2022 12:09 pm

  Japan’s Nikkei closes at 6-week high as technology shares rise

  

  Japan’s Nikkei index closed at a six-week high on Monday, October 31, tracking Wall Street’s strong close in the previous session, with technology stocks topping the list. The Nikkei rose 1.78% to 27,587.46 points, its highest level since Sept. 20, and its biggest one-day gain since Oct. 14. The broader …

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• 31 October 2022 11:18 am

  Gold prices are heading towards achieving their seventh monthly loss in a row

  

  Gold prices headed for a 7th consecutive monthly loss Monday, October 31st due to pressure from inflated US interest rates as cautious investors focus on the US Federal Reserve meeting for clues on its future position. The price of gold settled in spot transactions at $ 1642.55 an ounce at …

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• 31 October 2022 10:33 am

  Oil falls due to Covid restrictions and weak factory activity data in China

  

  Oil prices fell on Monday after weaker-than-expected factory activity data from China and on concerns that the expansion of COVID-19 restrictions could curb demand. Brent crude futures fell 63 cents, or 0.7 percent, to $95.14 a barrel by 0420 GMT, after falling 1.2 percent on Friday. US West Texas Intermediate …

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• 31 October 2022 8:26 am

  Markets’ Weekly Recap, October 24-28

  

  The yen fell on Friday as the Bank of Japan stuck to its accommodative policy. At the same time, 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 …

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• 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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