Noor Trends News, Technical Analysis, Educational Tools and Recommendations

October, 2022

• 5 October 2022 12:29 am

  Yellen dismisses rumors about quitting after midterm

  

  Treasury Secretary Janet Yellen denied on Tuesday an unconfirmed report that President Joe Biden would replace her after the November midterm elections, saying she plans to stay on as head of the Treasury.Yellen shut down speculation about her exit, saying that “There is no truth to that”. Republicans have been …

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• 4 October 2022 11:38 pm

  German finance minister: EU debt not the answer to energy crisis

  

  German Finance Minister Christian Lindner defended his country’s 200 billion euro defense shield to fund energy relief. Lindner also rejected calls for joint European Union debt, in comments to broadcaster ZDF on Tuesday.“Joint debt does not help us in the long run to strengthen competitiveness or with the sustainable finances …

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• 4 October 2022 10:50 pm

  GBP/USD encounters wall of critical resistance

  

  GBP/USD keeps moving back and forth on Tuesday in a day that ran through a vast territory for a fresh high for the week, so far, at 1.1489 from a low of 1.1280. The American dollar was hit hard by lower-than-expected JOLTS data that has accompanied weak Manufacturing data and …

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• 4 October 2022 10:25 pm

  Wall Street Soaring On Dollar Weakens, US Jobs Data

  

  The yield on the benchmark 10-Year US Treasury note fell 9 basis points to 3.66%, a two-week low, while the dollar index, which tracks the greenback against a basket of six developed economy currencies, fell around a quarter point to 110.65. The S&P 500 meanwhile, rose 2.8%, while the Dow …

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• 4 October 2022 9:27 pm

  USD/CAD drops on softer US dollar, higher oil prices

  

  USD/CAD drops 100 pips on Tuesday, extending its weekly losses to almost 2%. Broad US dollar weakness and high crude oil prices undermine the USD/CAD, a tailwind for the CAD.The US economy is slowing as the Fed wishes, as portrayed by the JOLTs report missing estimations. Fed policymakers continue to …

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• 4 October 2022 8:40 pm

  EUR/USD approaching parity on softer US dollar

  

  The EUR/USD pair extends gains above 0.9900 and the next barrier is at 1.0015. the Euro gains more than 400 pips from last week’s low. On the other hand, the US Dollar retreated across the board on risk appetite and lower US yields.The EUR/USD rose even further during the American …

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• 4 October 2022 7:41 pm

  Lagarde: Difficult to say if inflation is at peak

  

  European Central Bank President Christine Lagarde said on Tuesday it was difficult to say whether or not inflation has peaked in the euro area.“The minimum that we have to do is to stop stimulating demand,” Lagarde added. These comments don’t seem to be having a noticeable impact on the shared …

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• 4 October 2022 6:46 pm

  Market Drivers – European Session 4/10/2022

  

  The Kremlin said Tuesday (October 4) that Tesla founder Elon Musk has outlined a possible peace deal with Ukraine as a “positive step,” hours after Kyiv criticized Musk’s call for a negotiated settlement to the seven-month conflict.Kremlin spokesman Dmitry Peskov told reporters on a conference call that Moscow was always …

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• 4 October 2022 6:12 pm

  Oil rises ahead of OPEC + meeting to discuss production cuts

  

  Oil prices rose on Tuesday amid expectations that the OPEC+ group may agree to a significant cut in crude production when it meets this week. Brent crude futures rose 79 cents, or 0.9 percent, to $89.65 a barrel by 1054 GMT, after gaining more than 4 percent in the previous …

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• 4 October 2022 5:12 pm

  The Kremlin: Elon Musk’s proposal for a peace agreement with Ukraine is a “positive step”

  

  The Kremlin said Tuesday (October 4) that Tesla founder Elon Musk has outlined a possible peace deal with Ukraine as a “positive step,” hours after Kyiv criticized Musk’s call for a negotiated settlement to the seven-month conflict. Kremlin spokesman Dmitry Peskov told reporters on a conference call that Moscow was …

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• 4 October 2022 2:51 pm

  USD is falling and the markets are taking a breath

  

  The dollar fell on Tuesday as US Treasury yields stopped rising after a wave of increases, which provided an opportunity for stock markets and helped the euro and pound to catch a breath and recover from multi-year lows. The Australian dollar was also eye-catching, as it fell by about one …

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• 4 October 2022 1:28 pm

  Gold hits 3-week high as dollar and bond yields fall

  

  Gold prices hit a three-week high on Tuesday, prompting all precious metals to gain, with the dollar and US Treasury yields falling again after hitting their highest levels in years, restoring the allure of the non-yielding precious metal. And gold rose in immediate transactions 2.5 percent to $ 1707.20 an …

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• 4 October 2022 12:51 pm

  Turkey’s trade deficit rises to $10.38 billion in September

  

  Turkey’s Trade Ministry announced on Tuesday that the country’s trade deficit jumped 298 percent year-on-year in September to $10.384 billion, as rising energy import costs continue to cause the deficit to grow. The data showed that exports grew by 9.2 percent to $22.62 billion in September, while imports jumped 41.5 …

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