Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 28 October 2022 3:29 am

  Market Drivers – US Session 27/10/2022

  

  The American dollar restores its previous weak tone, as US Treasury yields edged sharply lower following the release of the preliminary estimate of the Q3 Gross Domestic Product. Important events are streaming on the macroeconomic calendar having less impact than anticipated, despite bringing about some new developments. Wall Street got …

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• 28 October 2022 3:19 am

  Euro sinks after ECB rate decision, US data

  

  Euro sinks after ECB rate hike, US dataThe euro dropped more than 1% on Thursday, falling back below parity with the dollar, after the European Central Bank raised interest rates and following Thursday’s US data showing that the world’s biggest economy rebounded more than expected in the third quarter.The ECB …

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• 28 October 2022 1:40 am

  Dow Jones closes higher on GDP report

  

  The Dow Jones Industrial Average closed higher, on Thursday, following new data showed third-quarter GDP grew faster than expected and hinted at waning inflation, encouraging investors to buy stocks linked to the health of the economy.The Dow climbed 194.17 points, or 0.6%, to end at 32,033.28 for its fifth day …

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• 28 October 2022 12:37 am

  Gold Under Pressure On US Dollar’s Correction

  

  Gold prices are under pressure. The precious metal is actually forced back into the neutral zone on the daily chart. The hourly charts show that the price is balanced at a critical stage. Investors are eying Friday’s PCE and next week’s Fed. The price of gold has been pressured on …

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• 27 October 2022 11:06 pm

  WTI edges higher on supply concerns

  

  At the time of writing, West Texas Intermediate crude oil is up by over 0.9% trading at $88.92 having recovered from the $87.35 low reaching the $89.78 high so far.Supply concerns have been dominating the market on the back of the United States reporting better-than-expected economic growth data for Q3. …

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• 27 October 2022 10:23 pm

  Amazon to report earnings following disappointing reports

  

  Amazon is expected to report its third quarter earnings after the bell on Thursday. Wall Street’s forecasts refer toi the following:Revenue: $127.63 billion expected versus $110.8 billion in Q3 2021Adjusted Earnings Per Share (EPS): $0.45 expected versus $6.12 in Q3 2021 (after a 20-for-1 stock split)Amazon Web Services (AWS) Net …

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• 27 October 2022 9:41 pm

  GBP/USD falls on US economic growth data

  

  The GBP/USD pair dropped from around 1.1600 after hitting six-week highs at 1.1645 due to overall US Dollar strength on the back of the positive Thursday’s US data showing the economy’s resilience, despite the ongoing monetary policy tightening. US Jobless Claims added to the already positive mood, though Goods Orders …

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• 27 October 2022 8:41 pm

  BoJ Preview: Forecasts from nine major banks

  

  The Bank of Japan will announce its monetary policy decision on Friday, October 28 at 03:00 GMT and as we get closer to the release time, nine major banks have released their expactations on the looming decisionJapanese main interest rate will likely be left at -0.1%, despite inflation standing at …

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• 27 October 2022 7:36 pm

  Expectations of another ECB big rate hike in December

  

  The European Central Bank raised the key interest rates by 75 basis points on Thursday, as expected. Analysts at Commerzbank, point out Christine Lagarde sounded dovish at the press conference but they still see that another big rate hike for the December meeting remains on the table. Key Quotes: “After …

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• 27 October 2022 5:45 pm

  Lagarde speech: Depreciation of the euro has added to inflation

  

  Christine Lagarde, President of the European Central Bank (ECB), is delivering her remarks on the policy outlook and responding to questions from the press following the Governing Council’s decision to hike key rates by 75 basis points in October. “Supply bottlenecks are easing.”“Depreciation of the euro has added to inflation.”“Price …

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• 27 October 2022 5:43 pm

  US economy grows at an annualized rate of 2.6% in Q3

  

  The US economy expanded at an annualized rate of 2.6% in the third quarter, the US Bureau of Economic Analysis’ (BEA) first estimate showed on Thursday. This reading followed the 0.6% contraction recorded in the second quarter and came in slightly better than the market expectation for a growth of …

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• 27 October 2022 5:12 pm

  Gold falls with the rise of the dollar and investors await economic data

  

  Gold prices fell on Thursday as the dollar rose, while investors awaited economic data amid expectations that the Federal Reserve may slow the pace of interest rate hikes after November. And gold fell in spot transactions 0.1 percent to $ 1662.79 an ounce by 0952 GMT, and US gold futures …

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• 27 October 2022 4:15 pm

  ECB hikes key rates by 75 basis points in October as expected

  

  The European Central Bank (ECB) announced on Thursday that it raised its key rates by 75 basis points (bps) following the October policy meeting as expected. With this decision, the interest rate on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility …

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