Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2022

• 19 November 2022 1:45 am

  Oil declines for second week as supply fears retreat

  

  Oil dropped by about 2% on Friday, logging a second weekly decline, due to concern about weakened demand in China and further increases to US interest rates. Brent crude settled at $87.62 a barrel, falling $2.16, or 2.4%. U.S. West Texas Intermediate (WTI) crude settled at $80.08 a barrel, losing …

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• 19 November 2022 12:55 am

  Breaking: Biden Warns “Inflation Will Take Time” To Recede

  

  US President Joe Biden cautioned on Friday that ““it’s going to take time to get inflation back down to normal levels.”, but he assured that legislation he signed earlier this year will help limit costs for health care and energy.However, he said that “in six short weeks, Americans are going …

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• 18 November 2022 11:32 pm

  Sterling Struggles Amid UK Austerity Measures

  

  This week’s UK Fiscal Statement, including tax rises and spending cuts announced by Jeremy Hunt, could mark the beginning of the process of restoring the UK’s impacted reputation, according to the Institute of Fiscal Studies. ‘The swing over a couple of months from Kwasi Kwarteng’s fiscal loosening to a big …

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• 18 November 2022 10:18 pm

  AUD/USD set to record minimal weekly losses

  

  The Australian dollar is set to finish the week with losses of 0.50%. The Australian Dollar prepares to finish the week negative, dropping against the US dollar while market sentiment turned negative due to the lack of a catalyst. The only factor that could be considered as a catalyst was …

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• 18 November 2022 8:43 pm

  Gold Unchanged Amid Softer US Dollar

  

  On Friday, gold prices are trading unchanged in early US trading session. The softer US dollar index is being balanced by a drop in crude oil prices to a five-week low overnight. US bond yields have risen a bit late this week, which leans slightly bearish for the safe-haven metals. …

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• 18 November 2022 7:46 pm

  US Dollar Index hovers around 106.80, economic data in focus

  

  The US Dollar index trades within a tight range near 106.80 on Friday as US bond yields reverse direction and now slip back to the red territory.The US dollar exchanges gains with losses in the 106.70 region when gauged by the USD Index amid the generalized lack of direction in …

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• 18 November 2022 7:04 pm

  US existing home sales decline for ninth month

  

  Existing-home sales fell 5.9% to a seasonally adjusted annual rate of 4.43 million in October, the National Association of Realtors said Friday. Compared with October 2021, home sales were down 28.4%.Economists polled by the Wall Street Journal had expected an decrease to 4.37 million units. Sales of previously owned homes …

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• 18 November 2022 4:32 pm

  ECB President: The central bank may have to restrict growth to control inflation

  

  European Central Bank President Christine Lagarde said the central bank will continue to raise interest rates and may even need to restrict economic activity to control inflation. The European Central Bank raised interest rates by an unprecedented 200 basis points since July to tackle inflation, and said further policy tightening …

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• 18 November 2022 3:22 pm

  UK Retail Sales jump 0.6% MoM in October

  

  The UK retail sales arrived at 0.6% over the month in October vs. 0% expected and -1.5% previous. The core retail sales, stripping the auto motor fuel sales, rose 0.3% MoM vs. 0.6% expected and -1.5% previous. On an annualized basis, the UK retail sales plunged 6.1% in October versus …

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• 18 November 2022 2:41 pm

  European stocks open higher as investors flock to energy stocks

  

  European stocks opened higher on Friday after falling for two straight days as investors snapped up falling energy stocks, although hawkish comments from more Federal Reserve officials capped gains. The pan-European Stoxx 600 index was up 0.4% by 0813 GMT, with basic resources stocks rising 1.1%, after falling more than …

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• 18 November 2022 1:33 pm

  Dollar is on its way to achieve weekly gains

  

  The dollar is heading for its best week in a month on Friday, as comments from Federal Reserve officials and stronger-than-expected retail sales data curbed the US currency’s slide after signs of easing inflation. It was also helped by Thursday’s 0.4 percent decline in the British pound after a British …

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• 18 November 2022 12:38 pm

  Annual inflation in Japan is at the highest level since 1991

  

  Annual inflation in Japan rose in October to 3.7%, after it had recorded 3% in September, bringing it to the highest level since January 1991, in light of the rise in commodity prices and raw materials coinciding with the weakness of the yen. The biggest pressure came from food costs, …

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• 18 November 2022 12:29 pm

  Oil rises as the dollar declines, but the demand outlook casts a shadow

  

  Oil prices rose Friday, November 18, with the decline of the dollar, but they are heading towards incurring weekly losses due to expectations that the pace of the sharp rise in US interest rates will not ease, as well as expectations of weak demand from China, the largest importer of …

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