Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 20 October 2022 3:24 am

  Market Drivers – US Session 19/10/2022

  

  The negative market mood erased Tuesday’s relative optimism. This sentiment has benefited the American Dollar on Wednesday, which extended its latest rally against major rival currencies.The trading day witnessed the release of fresh inflation reports that reminded traders of the high risk of a looming global recession.The EUR/USD pair finished …

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• 20 October 2022 2:59 am

  Bitcoin manages to hold on despite rate policy concerns

  

  Traders witnessed another day of battle for control of Bitcoin’s $19,200 support level, as there was seldom any change to the persistent choppy price action in the crypto market during trading on Wednesday.The US dollar’s Index, DXY, rebounded and so, spiked above 113 near midday after hitting a low of …

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• 20 October 2022 2:20 am

  Treasury yields touch highest since 2008

  

  Stocks moved lower on Wednesday as Wall Street struggled to extend its rally amid a sharp rise in Treasury yields. The Nasdaq Composite lost 0.85% to close at 10,680.51. The S&P 500 ticked down 0.67% to 3,695.16. The Dow Jones Industrial Average slipped 99.99 points, or 0.33%, to finish the …

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• 20 October 2022 1:00 am

  Gold nosedives to three-week lows

  

  Gold has been plagued by accelerating decline. On Wednesday, the precious material also hit fresh three-week lows below $1,630. Gold is trading at $1,628.60 per ounce at the time of writing.Meanwhile, the USD rallies on Fed officials signaling further tightening and soaring US yields. Gold has nosedived nearly 1.5% so …

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• 20 October 2022 12:12 am

  Fed’s Bullard: Have to react if inflation doesn’t ease

  

  Federal Reserve Bank of St. Louis President James Bullard hinted at the possibility of raising interest rates by 75 basis points at each of its next two meetings in November and December. The US dollar bounced, it has from two-week lows on Wednesday with a rise in US Treasury yields …

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• 19 October 2022 11:16 pm

  Wall Street struggles amid soaring Treasury yields

  

  US main indexes struggled for direction on Wednesday as a surge in Treasury yields to 14-year highs on expectations of bigger interest rate hikes diminished optimism from the positive start to the earnings season.While some gauges of the equity market’s health showed that the latest rally may be the start …

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• 19 October 2022 10:19 pm

  Fed’s Beige Book: Forecasts more pessimistic on demand-related concerns

  

  The Federal Reserve’s Beige Book has been released pointing out that price growth is still high with some easing was noted across several districtsThe Beige Book also noted that the US national economic activity expanded modestly on net since the previous report; however, conditions varied across industries and Districts.Overall Economic …

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• 19 October 2022 9:38 pm

  Biden Releases 15 million barrels of America’s SPR’s oil

  

  President Joe Biden announced a plan on Wednesday to sell off 15 million barrels of American crude oil from the emergency supply and begin refilling the reserve as he tries to contain high fuel prices ahead of midterm elections scheduled on November 8.Biden’s decision came two weeks after the OPEC+ …

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• 19 October 2022 8:28 pm

  Suella Braverman quits UK home secretary post

  

  Suella Braverman has left her position as UK Home Secretary, adding to the turmoil surrounding Prime Minister Liz Truss’s six-week government. In less than a week, after finance minister, Kwasi Kwarting, had been fired on Friday.The Home Secretary was reported to be leaving “by order” from the new Finance Minister …

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• 19 October 2022 7:38 pm

  EIA: US oil inventories decline by 1.72M

  

  The weekly report by the US Energy Information Administration showed a decline in crude oil inventories of 1.725M against expectations of an increase by 1.38M during the week ending October 14. Cushing crude oil inventories rose by 583K and gasoline inventories by declined by 114K.Crude oil prices are steady after …

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• 19 October 2022 5:33 pm

  Canada: Annual CPI eases to 6.9% in September

  

  As measured by the Consumer Price Index (CPI), inflation in Canada fell to 6.9% in September from 7.0% in August, data published by Statistics Canada showed this Wednesday. This reading is slightly better than the market expectation of 6.8%. The Bank of Canada’s (BOC) Core CPI, which excludes volatile food …

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• 19 October 2022 4:49 pm

  GBP falls under the weight of inflation, USD clings to its 32-year peak against JPY

  

  Sterling fell on Wednesday after a bigger-than-expected rise in consumer price inflation in Britain and fears of a deeper recession in the country fueled expectations that the Bank of England’s November interest rate hike would be less severe. The dollar consolidated at a 32-year high against the yen and rose …

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• 19 October 2022 3:26 pm

  Erdogan says he agreed with Putin to establish a natural gas center in Turkey

  

  Turkish President Recep Tayyip Erdogan said on Wednesday that he had agreed with his Russian counterpart, Vladimir Putin, to establish a natural gas center in Turkey. Speaking to members of the ruling Justice and Development Party in parliament, Erdogan said that Putin told him that Europe can obtain its gas …

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