Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2021

• 2 December 2021 2:30 am

  US Total Auto Sales Down in November, EVs Bloom

  

  Narrow inventories pushed sales of new vehicles down as Toyota, Honda, Subaru, Hyundai and Kia all reported their sales dropped during November despite anticipated strong demand. Kia reported a drop in sales for November; however, its total sales through the first 11 months of 2021 surpassed the sales record the …

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• 2 December 2021 2:01 am

  UK Weighs COVID Impact On Recovery

  

  The economic impact from the pandemic has gradually faded since the start of the world health crisis but still remains strong according to statements by Bank of England Governor Andrew Bailey on Wednesday, when asked how to assess news of the Omicron variant of coronavirus.Financial markets have pared back their …

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• 2 December 2021 1:37 am

  Omicron Pulls EUR/JPY Back

  

  Appetite for safe-haven assets has picked up in recent trade amid a deterioration in US shares due to retreating market sentiment.EUR/JPY has been tilting lower and looks for direction to end the day with losses of about 0.5%. The first Omicron Covid-19 infection has identified in America and, shares reacted …

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• 2 December 2021 12:09 am

  First US Omicron Infection Pulls US Shares Down

  

  US shares have surrendered much of their pre-market gains. The S&P 500 index fell under 4600 and is now just 0.4% higher on the day having been as much as 1.9% higher earlier in the session.The Nasdaq 100, meanwhile, has pared back on gains that had been as much as …

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• 1 December 2021 11:39 pm

  Market Mood Pushes Gold Prices Higher

  

  Gold recovered on Wednesday alongside the relative improvement market’s mood. The precious metal is currently trading in the $1,780.00 territory.Gold prices advanced on easing demand for the US dollar, as stocks turned green following Tuesday’s setback.The absence of first-tier events and relief news related to the coronavirus Omicron variant reinforced …

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• 1 December 2021 11:00 pm

  Oil Trims Gains On US Fuel Stockpiles Jump

  

  US WTI crude oil futures pared gains on Wednesday after a U.S. official said the country was continuing to consider tools to manage energy prices, and as government data pointed to weaker gasoline demand.WTI U.S. crude futures were trading $1.3, or 2.02%, higher at $67.51 a barrel at 12:04 p.m. …

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• 1 December 2021 10:37 pm

  GBP/USD Surges on BoE and Fed’s Rate Speculations

  

  The GBP/USD is trading at 1.3311 and higher by 0.12% on the day so far. The pair has recovered from a low of 1.3276 and has reached a high of 1.3352 so far.DXY, an index that measures the US dollar vs a basket of currencies spiked around 40 points during …

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• 1 December 2021 9:20 pm

  Latest Data Signals US Supply Chain Crisis Easing

  

  The ISM Manufacturing Index showed an improvement in November, in agreement with market expectations. According to Wells Fargo’s analysts, the report is the first sign of an easing of the supply chain crisis.Analysts still warn that it is too early to say that things are materially improving, but it is …

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• 1 December 2021 8:41 pm

  EIA Oil Stocks Fall Below Expected

  

  A weekly report published by the US Energy Information Administration (EIA) revealed on Wednesday that crude oil inventories in the US fell by 0.910 million barrels in the week ending November 26.This was smaller than the expected draw of 1.273 million barrels. Distillate stocks saw a larger than expected build …

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• 1 December 2021 8:12 pm

  Powell: We Need To Abandon The Word ‘Transitory’

  

  Fed Chair Jerome Powell is currently testifying before the House Financial Services Committee alongside US Treasury Secretary Janet Yellen. More Wednesday’s Quotes:“We need to move on from the word transitory.”“The risks of higher inflation have moved up.”“Demand is very, very strong from fiscal policy and a quickly rebounding economy.”“The economy …

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• 1 December 2021 7:52 pm

  Fed’s Powell Testifying For Second Day

  

  Fed Chair Jerome Powell returns to Capitol Hill on Wednesday for a second day of testimony. Markets will be looking for clues about how the central bank is thinking about plans to raise interest rates next year.Powell testified alongside Treasury Secretary Janet Yellen before the Senate Banking Committee on Tuesday, …

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• 1 December 2021 7:26 pm

  US Manufacturing PMI Rises In November

  

  According to a survey compiled by the Institute of Supply Management, released Wednesday, US Manufacturing PMI rose to 61.1 in November from 60.8 in October. That was slightly above the expected reading of 61.0 and above October’s reading at 60.8. The employment index rose to 53.3 from 52.0, the new …

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• 1 December 2021 6:27 pm

  Market Drivers – European Session 01-12-2021

  

  OPEC expected the oil surplus to increase to 2 million bpd in January, 3.4 million bpd in February and 3.8 million bpd in March 2022. The Organization of the Petroleum Exporting Countries, through a leaked document during today’s meeting, said that the demand for transport fuels in Europe may also …

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