Noor Trends News, Technical Analysis, Educational Tools and Recommendations

The US crude oil futures contracts have been dominated by positive trading, aligning with our bullish forecast. They have touched the initial target price of $79.20, and are now heading towards the next official mark of $79.60. The contracts recorded their peak at $79.72 per barrel. From a technical perspective, …

Gold prices have recently made significant strides, outperforming the US dollar, following a successful breach of the 1945 resistance level. This upward trend solidified as gold prices maintained stability above the 1954 mark. While this stability tempers the possibility of a downward shift, it doesn’t completely rule it out. We …

In the last trading session, the Euro enjoyed a surge against the US Dollar, capitalizing on the latter’s fall following inflation data. This defied the bearish scenario we had anticipated, based on trading stability free from the psychological resistance barrier of 1.0700 at the time of the report. It seems …

China’s retail sales and industrial production figures, Australia’s Wage Price Index, and Japan’s Q3 GDP are set to be released on Wednesday. The US dollar experienced a sharp decline in October due to increased inflation, which led to a drop in the Dollar Index (DXY). The 10-year yield fell from …

As softer US CPI data leads to a sharp decline in the US dollar, the GBP/USD pair has surged over 1.80% to trade around 1.2499, namely nearest the 1.2500 level, on the back of the recent US inflation data. October US inflation dropped the most in the last three months …

Home Depot reported a 3% drop in sales and earnings for the most recent quarter, attributed to a combination of consumer caution and a chilly housing market. The company had sales of $37.7 billion, 3% less than the same quarter a year ago, and net earnings of $3.8 billion, about …

The scheduled meeting between President Joe Biden and Chinese President Xi Jinping in San Francisco, according to traders, may signal an optimistic thawing of tensions and improve sentiment towards the Asian country’s battered assets.In Xi’s first trip to the US since 2017, when he met with then-President Donald Trump, the …

Spot gold is trading at $1964.11 per ounce at the time of writing. Gold prices have surged in early US trading session, following a slightly tamer US inflation report. The consumer price index report for October came in at 3.2% year-on-year, falling into the camp of US monetary policy doves …

Will Fed say goodbye to the rate hiking era? The Fed will likely be in a holding pattern, with inflation moderating and a weakening labour market. Another rate hike from here looks less likely given this softer inflation reading.  The dollar softened on Tuesday following data for US consumer prices …

The US Census Bureau’s October Retail Sales report is expected to reveal a decline in consumption for the first time since March. Economists predict a 0.3% decline in October, with sales ex-autos compared to the prior release of 0.6%. Deutsche Bank expects weak unit motor vehicle sales to lead to …