Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 12 October 2022 10:02 pm

  FOMC Minutes: Policymakers determined to adopt more restrictive policy stance

  

  The Federal Open Market Committee minutes of September’s meeting have been released:Fed officials determined that they needed to adopt and maintain a more restrictive policy stance in order to achieve their goal of lowering elevated inflation.Many participants raised their assessment of the federal funding path required to meet committee objectives.Many …

  Read More »
• 12 October 2022 8:40 pm

  Gold settles around $1,670 ahead of FOMC minutes

  

  Gold price holds around 1670$ even after US PPI data. The precious metal stays firm despite the US dollar’s strength.Market participants turn attention to FOMC minutes ahead of Thursday US CPI numbers. Gold continues to trade around $1,670 as it has been the case since the beginning of the European …

  Read More »
• 12 October 2022 7:34 pm

  US rules trigger need to protect chips supply chain

  

  The US is struggling to protect chips supply chain against consequences of its new export curbs on China’s chip industry because such consequences could harm the semiconductor supply chain.Just hours before a new restriction became effective, South Korea’s chipmaker SK Hynix Inc announced it got authorization from the United States …

  Read More »
• 12 October 2022 5:06 pm

  Putin: Russia will keep oil export and production rates at current levels until 2025

  

  Russian President Vladimir Putin said on Wednesday that Russia intends to keep oil production and export rates at current levels until 2025, adding that Moscow will not give up its global leadership position in the global energy market despite Western sanctions. Putin also praised the OPEC+ group, which announced last …

  Read More »
• 12 October 2022 3:11 pm

  Eurozone Industrial Production jumps 1.5% MoM in August

  

  Eurozone’s Industrial Production increased more than expected in August, the official data published by Eurostat showed on Wednesday, suggesting that the bloc’s manufacturing sector activity is regaining traction. The industrial output in the old continent jumped by 1.5% MoM vs. a 0.6% increase expected and -2.3% last. On an annualized …

  Read More »
• 12 October 2022 2:17 pm

  Gold shines as the dollar declines ahead of the Fed minutes

  

  Gold prices rose on Wednesday, supported by a slight decline in the dollar, as investors looked forward to the release of the minutes of the Federal Reserve’s monetary policy meeting for the month of September, as well as inflation data, for indications on the path of raising interest rates. And …

  Read More »
• 12 October 2022 1:27 pm

  European shares fall due to mixed business results

  

  European shares fell on Wednesday after a batch of mixed business results highlighted the impact of tight monetary policy and rising inflation on corporate earnings. The pan-European STOXX 600 index fell 0.2 percent by 0706 GMT, the sixth consecutive session of losses, with the real estate and banking sectors leading …

  Read More »
• 12 October 2022 11:42 am

  UK Manufacturing Production drops 1.6% MoM in August

  

  The industrial sector recovery lost momentum in August, the latest UK industrial and manufacturing production data published by Office for National Statistics (ONS) showed on Wednesday. Manufacturing output arrived at -1.6% MoM in August versus 0% expectations and 0.1% booked in July while total industrial output came in at -1.8% …

  Read More »
• 12 October 2022 11:19 am

  UK GDP contracts 0.3% MoM in August

  

  The UK Gross Domestic Product (GDP) monthly release showed on Wednesday that the economy returned to a contraction in August, arriving at -0.3% vs. 0% expectations and 0.2% previous. Meanwhile, the Index of services (August) came in at -0.1% 3M/3M vs. 0.2% estimate and -0.2% prior. The Cable remains little …

  Read More »
• 12 October 2022 10:25 am

  Oil prices fall with the rise of USD

  

  Oil prices fell for the third consecutive session on Wednesday as the dollar strengthened and investors prepared to receive US inflation data amid concerns about fuel demand raised by the risks of a global recession and the tightening of Covid-19 restrictions in China. By 0410 GMT, Brent crude futures fell …

  Read More »
• 12 October 2022 3:17 am

  Market Drivers – US Session 11/10/2022

  

  The US Dollar is strong at the end of Tuesday after intraday reverse that kept it in the red territory for most of the US trading session. The American Dollar extended its advance against its safe-haven rivals, with USD/CHF now quoting at 0.9960 and USD/JPY at 145.80.US Treasury bonds fell …

  Read More »
• 12 October 2022 2:28 am

  EUR/USD catches minimal gains on BoE’s Baily remarks

  

  The EUR/USD pair is barely up 0.08% on Tuesday, following BoE’s Baily remarks, which deteriorated the market sentiment. During the European session, the ECB Chief Economist Philip Lane said that the ECB would impact the markets by hiking rates than selling its hefty pile of bonds on Tuesday. Given that …

  Read More »
• 12 October 2022 1:32 am

  EUR/GBP benefits from remarks by BoE’s Bailey

  

  The Euro breaks above 0.8800 to hit session highs at 0.8855. the EUR/GBP pair is trading at 0.8841 at the time of writing. Bank of England governor Andrew Bailey announces the end of the emergency support program and subsequently the pound falls.Additionally; BoE governor warns about unprecedented volatility in the …

  Read More »