Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2022

• 9 November 2022 11:37 pm

  Gold retreats on US Treasury auction

  

  Gold is now some steps back in the hands of the bears as traders await the key US CPI data. Gold is currently under pressure following, dropping at the turn of the past hour after a spike to the day’s highs, trapping breakout traders long when the US treasury notes …

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• 9 November 2022 10:42 pm

  USD/JPY’s recovers, but finds resistance at 146.55

  

  The US dollar’s rebound from 145.15 is limited below 146.00. The market has turned cautious ahead of the results of US elections and CPI data, this is why the USDJPY is risking further decline to 142.00. The US Dollar’s recovery from two-week lows at the 145.15 area lost momentum at …

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• 9 November 2022 9:33 pm

  Fed’s Barkin: Inflation fight may lead to downturn

  

  Fed’S fight against inflation may lead to a downturn in the US economy but that is a risk that the Fed will have to take, Richmond Fed President Thomas Barkin said on Wednesday, as reported by Reuters.The US Dollar showed no immediate reaction to these comments and the US Dollar …

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• 9 November 2022 8:29 pm

  WTI losses extend below $86 on Chinese demand-linked concerns

  

  Oil prices have declined for the third consecutive day, to reach levels near $86. Concerns about a decline on demand from China are weighing on prices. US crude stockpiles increased above expectations last week.Front-month WTI crude futures are depreciating for the third consecutive day on Wednesday. Concerns about a potential …

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• 9 November 2022 7:30 pm

  US Wholesale Inventories Eased in September

  

  Inventories at US wholesalers rose in September, although at a slower pace compared with the previous month as demand weakens.Inventories of US merchant wholesalers increased 0.6% in September on month, easing from a upwardly revised 1.4% increase in August, the Commerce Department said Wednesday.

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• 9 November 2022 7:15 pm

  Gold firmly holds above $1710 as buyers eye $1735

  

  Gold prices fluctuate in the New York session amid the uncertainty of midterm elections in the United States. US Treasury yields are rising behind the US Dollar’s surge, which is up more than 0.50% against most G8 peers.Gold Price Analysis: Testing the 100-day EMA, which, once broken, would shift the …

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• 9 November 2022 4:23 pm

  Dollar halts losses ahead of midterm results

  

  The dollar settled near a two-month low against the euro on Wednesday as investors awaited the results of the US midterm elections and inflation data due this week that will guide speculation on the path of a future US interest rate hike. Cryptocurrencies are also high on investor interest, stabilizing …

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• 9 November 2022 3:23 pm

  China’s producer prices contracted for the first time in two years

  

  According to official data, China’s producer price index deflated for the first time since 2020, affected by lower iron and steel prices. The Producer Price Index, which measures the prices of raw materials and other input costs, shrank 1.3% in October from a year ago, a Reuters poll showed, slightly …

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• 9 November 2022 1:44 pm

  European shares drop, eyes on US midterm election results

  

  European shares fell on Wednesday, though gains by Germany’s Printage limited losses, while investors awaited the results of the US midterm elections to see the course of US policy. The pan-European Stoxx 600 index was down 0.2 percent by 0813 GMT. Shares in Printage Chemical Distribution rose 1.6 percent after …

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• 9 November 2022 12:25 pm

  Nikkei retreats from two-month high, dragged down by energy shares

  

  The Nikkei index closed lower on Wednesday after approaching a two-month high in the previous session, and Nintendo shares fell on lower profits as investors cautiously awaited US inflation data to speculate on the path of a future US interest rate hike. The Nikkei’s losses increased in the evening session, …

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• 9 November 2022 11:51 am

  Gold retreats from a month’s peak as the dollar and US bond yields rise

  

  Gold fell on Wednesday from a one-month high hit in the previous session. Yet, prices remained in a relatively narrow range, as investors remain cautious in anticipation of US inflation data due this week. Spot gold fell 0.2 percent to $1,709.60 an ounce by 0644 GMT. US gold futures fell …

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• 9 November 2022 10:26 am

  Oil falls on rising US inventories, fears of COVID-19 in China

  

  Oil prices fell on Wednesday after data showed that US crude stocks rose more than expected amid fears that demand for fuel will be dented by the increase in Covid-19 cases in China, the world’s largest importer of crude. Brent crude futures fell 44 cents, or 0.5 percent, to $94.92 …

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• 9 November 2022 2:29 am

  Market Drivers – US Session 08/11/2022

  

  There was no obvious catalyst that specifically brought about the US Dollar’s decline, although the positive performance of US shares and easing government bond yields put pressure on the dollar after Wall Street’s opening. The yield on the 2-year Treasury note touched an intraday low of 4.65% after peaking at …

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