Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 11 October 2022 8:49 pm

  Fed’s Mester: Risk ahead if Fed doesn’t sufficiently hike rates

  

  Federal Reserve Bank of Cleveland President Loretta Mester reiterated on Tuesday that policymakers have not achieved much in their endeavors nor made any progress on lowering inflation.The US Dollar Index stays under bearish pressure despite these hawkish comments and was last seen losing 0.43% on the day at 112.70.Key Quotes“Monetary …

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• 11 October 2022 8:08 pm

  Gold price edges higher ahead of CPI data

  

  Gold price is slightly up during the North American session, but the precious metal is still pressured due to high US Treasury bond yields, as well as the stronger US dollar. The US 10-year Treasury bond yield is down by four bps but around YTD highs at 3.92%, while the …

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• 11 October 2022 7:20 pm

  BoE accepts GBP 1.363 billion offers in bond purchase

  

  The Bank of England (BoE) accepted 1.363 billion sterling of offers in the daily purchase operation of conventional long-dated bonds on Tuesday.The BoE rejected 47.6 million GBP of offers in the same operation. The 2-year UK bond yield pushed lower with the initial reaction and was last seen losing nearly …

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• 11 October 2022 6:11 pm

  Market Drivers – European Session 11/10/2022

  

  Most of the global stock indices declined due to the escalation of political tensions and fluctuations in some commodities and currencies traded in global markets. The performance of European stock indices declined significantly, affected by political tensions and the emergency meeting of the Group of Seven that was announced yesterday, …

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• 11 October 2022 4:40 pm

  Oil falls more than 2% on fears of a global recession and an increase in Corona cases in China

  

  Oil prices fell more than 2% on Tuesday, extending losses of about 2% also in the previous session, as fears of a global recession and an increase in Corona virus infections in China exacerbated concerns about slowing global demand. World Bank President David Malpass and International Monetary Fund Managing Director …

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• 11 October 2022 3:11 pm

  Dollar is rising and yen is approaching a level that previously called for intervention

  

  The dollar climbed back to September’s highest levels in years on Tuesday, as investors worried about rising interest rates and geopolitical tensions, while the Japanese yen fell close to the level that called for intervention last month. Strong US labor market data and expectations of continued inflation expected to be …

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• 11 October 2022 2:09 pm

  Japanese stocks fell to the lowest level in two weeks due to the sale of technology shares

  

  Japanese stocks posted their worst daily performance on Tuesday in more than two weeks as index-heavy tech stocks fell after a sell-off in global markets. Still, travel-related stocks rose when Japan reopened its borders to regular tourism. The Nikkei index fell 2.64 percent after returning to trading from the weekend, …

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• 11 October 2022 1:14 pm

  Gold falls as the dollar rises amid expectations of rate hike

  

  Gold prices fell slightly on Tuesday, weighed by gains in the dollar amid expectations of further interest rate hikes, while caution prevailed ahead of key inflation data due later this week. Spot gold prices fell 0.1% to $1,665.89 an ounce by 0612 GMT, after touching the lowest level since October …

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• 11 October 2022 11:30 am

  China is accelerating the pace to control new Corona cases across the country

  

  Coronavirus cases are increasing across China, prompting many local authorities to tighten control over movement. According to a model from Nomura, about 4.8% of China’s GDP was negatively affected by COVID controls as of Monday, October 10. This is up from 4.3% last week. According to official announcements, three districts …

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• 11 October 2022 10:59 am

  Oil prices continue to decline as demand is affected by USD

  

  Oil prices fell on Tuesday, extending losses of about two percent in the previous session, as a stronger dollar and an increase in coronavirus infections in China led to fears of slowing global demand. By 0342 GMT, Brent crude futures fell 27 cents, or 0.3 percent, to $ 95.92 a …

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• 11 October 2022 2:24 am

  Market Drivers – US Session – 10/10/2022

  

  The prevalent negative market sentiment on Monday coincided with broader Russian attacks on Ukraine, firing multiple missiles that targeted communication and energy targets in and around Kyiv.Economic Data The economic calendar featured no significant economic data during the US session. Other Developments The US dollar extended last week’s momentum and …

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• 11 October 2022 1:50 am

  Germany rejects supporting joint EU debt amid energy crisis

  

  Germany has no plans to back a joint European Union debt issuance according to a government source. This statement comes to reject prior news from the European session, so, according to the source, Germany does not support joint EU debt to encounter the looming energy crisis.The government source told Reuters …

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• 11 October 2022 12:41 am

  Nasdaq closes at 2-year low on falling chip stocks

  

  US Stocks closed lower on Monday. Nasdaq Composite index hit lowest level in two years as tech shares were the hardest blow in the market because of thwarting interest rates exposing the high valuations of such shares and raise their cost of capital.The declines came as JPMorgan CEO Jamie Dimon …

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