Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2022

• 30 September 2022 3:45 am

  Market Drivers – US Session 29/09/2022

  

  The US dollar ended the day unevenly across the FX board, despite Wall Street resuming its decline and trimming all Wednesday’s gains. Treasury yields remained stable, with the 10-year note yielding 3.75% and the 2-year note 4.17%.Gold trades near its weekly high at the $1,664 level, while crude oil prices …

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• 30 September 2022 3:35 am

  WTI retreats on hawkish central banks

  

  WTI has pared the first weekly gains in five as traders await more clues. Supply related fears from Russia, chatters over OPEC+ output cut favor buyers.WTI crude oil prices is pressured towards $81.00 after retreating from the weekly highs around $82.50 the previous day. Crude oil is looking for decisive …

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• 30 September 2022 2:36 am

  UK increases fears of contagion risk across markets

  

  Intense market volatility in the UK escalated recession risks and global contagion fears. The gold market is one clear example, as it is cautiously observing the developments as prices rise from 2.5-year lows.UK market’s decline continues one day after the BoE intervened in the gilt market via an emergency bond-buying …

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• 30 September 2022 12:57 am

  Could gold restore safe have status?

  

  The gold price has started to find support and is back to trading near flat on the day at around $1,660.50, at the time of writing, efficiently escaping the earlier $1,641.57 low to the day’s high of $1,664.89. The US dollar continued to ease and spared its domination over rival …

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• 29 September 2022 11:32 pm

  Wall Street selloff accelerates after brief break

  

  Shares sell off began on Thursday as the dollar slightly slid and eased its domination over currency markets amid recession fears that quake the stocks and bonds markets suffering more interest rate pain.After a partial rebound on Wednesday, US stocks sharply fell on Thursday. The Dow Jones Industrial Average fell …

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• 29 September 2022 10:28 pm

  Mexican central bank raises interest rate

  

  Mexico’s central bank said the board was unanimous on the rate decision where it raised the benchmark interest rate to 9.25% from 8.50%. The USD/MXN pair is 0.25% bid on the day at 20.1947.Key QuotesSays the balance of risks for the trajectory of inflation within the forecast horizon remains biased …

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• 29 September 2022 9:35 pm

  USD/CAD pares Wednesday’s losses on Fed’s hawkishness

  

  The USD/CAD pair is gaining some 0.82% courtesy of Fed officials on Thursday as Fed’s Mester and Bullard estimate the Federal funds rate to peak around 4.5%.The Canadian economy Canada grew 0.1% MoM in July, exceeding estimations and the the USD/CAD marches firmly towards the 1.3700 figure after diving close …

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• 29 September 2022 8:19 pm

  Oil up rises as output cut considered by OPEC+

  

  Oil prices rose on Thursday for a second day, briefly touching $90 per barrel as leading OPEC+ members discussed an output cut to become in force as of next week, but gains moderated on the stronger dollar and weak economic expectations.Brent crude futures for November rose 18 cents to $89.50 …

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• 29 September 2022 7:52 pm

  EUR/GBP has worst trading day since July

  

  As the British Pound recovers further ground across the G10 currencies, the EUR/GBP pair is experiencing its worst trading day since 13 July. The pair dropped during the American session and hit the lowest level in almost a week at 0.8836. It is hovering around 0.8850, namely down by almost …

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• 29 September 2022 7:28 pm

  Fed’s Bullard: Central banks to react to Fed’s intentions

  

  St. Louis Federal Reserve Bank President James Bullard said on Thursday that the Federal Reserve is having to raise rates pretty rapidly to get to a minimally appropriate level to tackle inflation, as reported by Reuters.The greenback stays on the backfoot after these comments and the US Dollar Index was …

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• 29 September 2022 5:41 pm

  US: Real GDP contracts by 0.6% in Q2

  

  The US economy contracted at an annualized rate of 0.6% in the second quarter, the US Bureau of Economic Analysis’ (BEA) third and final estimate showed on Thursday. This reading came in line with the market expectation and the previous estimate. GDP, the standard economic growth measure, is the value …

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• 29 September 2022 4:42 pm

  Germany: Annual CPI inflation jumps to 10% in September

  

  As measured by the Consumer Price Index (CPI), annual inflation in Germany climbed to 10% in September from 7.9% in August, Germany’s Destatis reported on Thursday. This reading came in higher than the market expectation of 9.4. Meanwhile, the Harmonised Index of Consumer Prices (HICP), the European Central Bank’s (ECB) …

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• 29 September 2022 4:37 pm

  The rise of dollar dispels the luster of gold

  

  Gold prices fell one percent on Thursday, with the dollar rebounding after a brief decline in the previous session, while an imminent and expected interest rate hike was still hampering the precious metal’s rise. By 0935 GMT, spot gold fell 0.8 percent to $1,646.97 an ounce, after recording its best …

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