Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 5 October 2022 4:21 pm

  Dollar index resumes its rise after the largest daily decline in more than two years

  

  The dollar index resumed its rise today, Wednesday, after it recorded the largest daily decline in more than two years, pending the release of many economic data ahead of the monthly jobs report expected at the end of this week. The impact of the dollar’s rise – which has risen …

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• 5 October 2022 3:59 pm

  Eurozone PMI falls to 20-month low as recession prospect rises

  

  Eurozone business activity fell further than expected last month, increasing the likelihood of a recession in the 19-member common currency bloc. S&P Global’s final euro zone composite PMI (purchasing managers’ index), seen as a reliable gauge of economic health, dropped to a 20-month low of 48.1 in September from 48.9 …

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• 5 October 2022 2:49 pm

  G7 countries agree plan to impose price cap on Russian oil

  

  European Union member states have agreed to cap the price of Russian oil as they seek to cut Kremlin revenues and punish Vladimir Putin for the Ukraine war. Ambassadors from 27 countries on Wednesday signed off on the proposed cap on the price of crude shipped to countries outside the …

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• 5 October 2022 2:00 pm

  German exports grow more than expected despite the global economic slowdown

  

  Germany’s exports grew slightly more than expected in August, the German Federal Statistics Office said on Wednesday, despite a slowing global economy, rising interest rates and a shortage of materials. Strong demand from the United States and China boosted German exports to 133.1 billion euros ($132.59 billion) in August, up …

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• 5 October 2022 1:30 pm

  European shares fall after rising more than 5% in 3 days

  

  European shares fell on Wednesday, after rising more than 5% in the previous three sessions, on the back of easing concerns about the pace of monetary tightening, as well as investors awaiting a slew of regional and US data due later on Wednesday. The pan-European Stoxx 600 index was down …

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• 5 October 2022 1:01 pm

  Japan’s Nikkei closes above 27,000 points for the first time in two weeks

  

  Japan’s Nikkei broke through an important psychological barrier on Wednesday, boosted by retail stocks, although sentiment remained muted compared to global markets, which were boosted by the prospect of central banks calming sharp tightening policies. The Nikkei index broke the 27,000-point barrier for the first time since Sept. 22 and …

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• 5 October 2022 12:35 pm

  US oil stocks fell by 1.8 million barrels

  

  The American Petroleum Institute said that crude oil inventories fell by 1.8 million barrels in the week ending September 30th. In its weekly report, the American Institute stated that gasoline stocks fell by 3.5 million barrels last week, and distillate stocks fell by 4.1 million barrels. On Wednesday, the US …

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• 5 October 2022 2:53 am

  Bitcoin surges above $20000

  

  Bitcoin surged on Tuesday and is seen climbing above $20,000 for the first time in three weeks. The most famous cryptocurrency settled below the milestone threshold by Tuesday early afternoon.At the same time, bitcoin’s returns are tracking increasingly to gold and its 30-day performance now sits a highs not seen …

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• 5 October 2022 2:36 am

  Market Drivers – US Session 04/10/2022

  

  Markets were generally optimistic for a second consecutive day, leading to a continued dollar selloff after five-day loss streak while other financial assets were not shy to immediately benefit from the softer American dollar.Government bonds kept recovering ground, keeping yields under pressure, which weighed on the US dollar. The EUR/USD …

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• 5 October 2022 2:17 am

  Oil jumps 3% ahead of OPEC+ meeting on supply woes

  

  Oil has jumped by nearly $3 a barrel on Tuesday on expectations that Wednesday’s OPEC+ meeting could decide a large cut in crude output as the retreating US dollar made oil purchases cheaper.OPEC+ will consider output cut on Wednesday’s meeting. The move could put supply under pressure while the energy …

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• 5 October 2022 2:00 am

  No US ban on natural gas exports in winter

  

  The White House has denied any ban or curbs on natural gas exports this winter to help alleviate energy woes in European allies. Earlier in 2022, US President Joe Biden committed to deliver 15 billion cubic metres (bcm) of liquefied natural gas to Europe following Russia’s invasion of Ukraine and …

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• 5 October 2022 1:44 am

  Twitter shares rise 22% on Elon Musk’s proposal

  

  Elon Musk changed course and agreed to buy Twitter for the originally agreed price, according to a filing on Tuesday. Twitter shares positively reacted to the news and surged after it was reported that Musk plans to go through with his acquisition at $54.20 a share.Twitter stock jumped 22% after …

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• 5 October 2022 12:59 am

  Gold rallies to fresh highs on softer US dollar

  

  Gold price rallied on Tuesday touching a fresh high for the week so far around $1,730 and traders are eying September’s high of $1,735. The precious metal rallied from a low of $1,695.24 on the day as the US yields made fresh lows of 3.564% in 10-year Treasury yield while …

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