Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 21 October 2022 11:55 pm

  US Shares surge on hopes for less hawkish Fed

  

  US shares surged on Friday after a news report, by WSJ, said the US Fed will likely debate on a smaller interest rate hike in December, raising hopes the central bank may be ready to adopt a less hawkish policy stance.The Dow Jones Industrial Average (.DJI) rose 646.73 points, or …

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• 21 October 2022 10:38 pm

  Fed Official: It’s time to start talking about slowing rate hikes

  

  On Friday, San Francisco Federal Reserve President Mary Daly warned that the US central bank should avoid putting the economy into an “unforced downturn” by raising interest rates too sharply, adding that it’s time to start talking about slowing the pace of the hikes in borrowing costs.The Fed is widely …

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• 21 October 2022 9:56 pm

  ECB Expected To Hike Rate By 75 Basis Points Next Week

  

  Next week’s the European Central Bank monetary policy meeting will be a key event that attracts traders’ attention. According to analysts a 75 basis points interest rate hike is highly expected. Analysts also believe that the deposit rate will reach 3% by March 2023. ECB’s Lagarde will have to acknowledge …

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• 21 October 2022 8:54 pm

  EUR/USD recovers on retreating US dollar

  

  The Euro is currently seen as picking up and returns to levels above 0.9800. Speculation about a shorter Fed hike in December served the US dollar a sudden blow.The Euro departed the previous days’ weakness on Friday during the US session. The pair has regained lost ground after bouncing at …

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• 21 October 2022 7:57 pm

  Gold rises on FOMC decision expectations

  

  Gold price advances almost 1% as the market speculations accelerated on FOMC’s intention. A WSJ article noted that FOMC members could be split about December’s rate hike, as November increase to the Fed funds rate (FFR) 75 bps, is certain. The precious metal is trading at $1651.36 per ounce at …

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• 21 October 2022 7:03 pm

  AUD/USD rebounds on weaker US dollar

  

  The AUD/USD pair turned positive for the day after rebounding more than a hundred pips from four-day lows. The pair rose from near 0.6200 to 0.6333, hitting a fresh daily high on the back of a weaker dollar.The US dollar pulled back across the board following a report mentioning a …

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• 21 October 2022 5:21 pm

  German parliament approves 200 billion euros in funding to tackle energy crisis

  

  The German parliament on Friday approved the government’s 200 billion euro ($195 billion) rescue package to protect businesses and households from rising energy prices. Parliament also voted earlier to suspend the so-called “debt brake” in the country.

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• 21 October 2022 4:35 pm

  Canada: Retail Sales rose 0.7% in August

  

  The data published by Statistics Canada revealed on Friday that Retail Sales grew by 0.7% on a monthly basis in August following June’s sharp contraction of 2.5%. This reading came in better than consensus estimates pointing to a modest rise of 0.4%. The USD/CAD pair, meanwhile, moves little following the …

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• 21 October 2022 4:34 pm

  Renault sales rise in the third quarter, supported by higher prices

  

  Renault announced Friday, October 21, that its sales rose to 9.8 billion euros ($9.57 billion) in the third quarter, in line with analyst expectations, as price increases allowed the company to achieve revenue growth despite a decline in car sales from the previous year. The French automaker said overall revenue …

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• 21 October 2022 4:30 pm

  Yuan slips near 14-year lows against the dollar

  

  The Chinese yuan fell during Friday’s trading, near its lowest level in 14 years against the dollar, bringing its losses this year to 12.3%. And according to Bloomberg, market watchers expect further yuan weakness after the Communist Party congress ends this weekend, with the central bank loosening its grip on …

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• 21 October 2022 2:33 pm

  Oil prices fall as hopes of increasing Chinese demand fade

  

  Oil prices fell on Friday for a second week as investor concerns about the impact of sharp increases in interest rates on energy consumption dashed hopes related to rising Chinese demand and production cuts by the Organization of the Petroleum Exporting Countries and its allies. Patrick Harker, Federal Reserve Chairman …

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• 21 October 2022 1:45 pm

  European stocks fall as inflation and slowdown fears dominate the markets

  

  European shares fell on Friday, amid fears that major central banks will stick to raising interest rates to curb prices, while investors assessed mixed earnings reports that did little to allay fears of an economic slowdown. A slew of inflation reports and data pointing to the strength of the US …

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• 21 October 2022 12:11 pm

  The Nikkei index closes below the level of 27 thousand points, and chip stocks limit losses

  

  The Japanese Nikkei index ended Friday’s trading below the main 27 thousand points level, affected by declines recorded by Wall Street Thursday night, amid fears that the announcement of the Federal Reserve (the US central bank) of a sharp interest rate hike could cause a recession. But the losses were …

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