Noor Trends News, Technical Analysis, Educational Tools and Recommendations

The EUR/USD pair exhibited relatively subdued yet positive movements, persisting in its gradual ascent while maintaining favorable stability above 1.0860. Upon a more detailed examination of the 4-hour time frame chart from a technical perspective today, it becomes apparent that the pair has effectively retested the 1.0860 support, denoted by …

Gold price has increased by 0.14% due to thin trading conditions during Thanksgiving, with the price currently trading at $1992, gaining 0.14% after hitting a daily low of $1989.56. The gold price benefits from declining US Treasury yields and USD weakness, trading near the $2000 mark. European equities closed in …

As of next January, a recession is predicted to hit the US economy as investment and production decline. According to a press release from the Conference Board, the Leading Economic Index (LEI) fell 0.8% in October and 3.3% over the previous six months, marking the 19th consecutive m-o-m decline. The …

China’s independent refiners, known as teapots, are holding off on making new purchases due to wide discrepancies in offer prices. Since the suspension of US sanctions on Venezuelan oil in mid-October for six months, global energy firms and trading houses Vitol, Gunvor, and Trafigura have gradually resumed purchases. The independent …

The seasonally adjusted S&P Global/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) for November came in at 46.7, surpassing expectations of 45.0 and marking an improvement from October’s final print of 44.8. In addition, the Preliminary UK Services Business Activity Index showed significant progress, reaching a four-month high of 50.5 in …

The Riksbank kept the interest rate unchanged at 4% on Thursday, November 23, but said it was ready to raise it further if inflation expectations deteriorated. The central bank raised interest rates from zero levels in April 2022, in a series of increases to combat high inflation caused by Covid …

Oil prices fell by about one percent on Wednesday in a volatile session, with the OPEC+ alliance suddenly postponed a meeting to determine production policy that was scheduled to be held next Sunday, raising questions about the future path of crude production cuts. Brent crude futures fell 49 cents to …

The Canadian dollar remains in a negative trading stance, aligning with the anticipated downward technical outlook and maintaining negative stability. The currency touched the officially targeted level of 1.3680, recording its lowest point at this level. Upon closer examination of the 4-hour time frame chart, it is observed that the …

japanese-yen

Oil, Crude, trading