Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2021

• 10 December 2021 1:30 am

  Bitcoin Retreats Below USD 50000

  

  Bitcoin continued to struggle below the critical USD 50,000 resistance level on Thursday. The short-term downtrend over the past month remains in effect, which could limit further upside beyond $50,000-$60,000.The famous cryptocurrency is down about 4% over the past 24 hours, although support at around the 200-day moving average (now …

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• 10 December 2021 1:09 am

  USD/CAD Moves Back On Oil’s Decline

  

  The USD/CAD moved back above 1.2700 on Thursday as oil prices came under accelerating selling pressure.BoC’s Gravelle spoke and largely stuck to the bank’s script after it held policy settings/guidance as expected on Wednesday.USD/CAD has been on the front foot on Thursday, gaining about 0.4% to move back to the …

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• 10 December 2021 1:02 am

  BoC’s Gravelle: Concerns Over Inflation More Than Usual

  

  Bank of Canada Deputy Governor Toni Gravelle said on Thursday that concerns about upside inflation risks are heightened much more than usual. “We are likely to react a little bit more readily to the upside risk given it’s already above our inflation-control range”, Gravelle added.For reference, the bank’s inflation-control range …

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• 10 December 2021 12:49 am

  WTI Crude Falls Sharply As Lockdowns Looming

  

  Crude oil prices fall during Thursday’s session after rallying for six weeks, retreating by 2.82%. COVID-19 restrictions, and the spread of the Omicron variant, dented market mood as oil demand cut are among factors that are dragging prices lower.The factors together hit oil prices as lockdowns loom as a number …

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• 9 December 2021 11:46 pm

  AUD/USD Traders Eying US CPI

  

  The AUD/USD is now depending on o the US CPI to be released on Friday. Traders are eying the deviation between the US Fed and Reserve Bank of Australia. The AUD/USD pair is traded at 0.7150, lower by 0.25% during Thursday’s session and is set to settle between a range …

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• 9 December 2021 11:24 pm

  Asia Is Not Rushing To Buy Extra Crude Oil From KSA

  

  Higher Saudi prices for January delivery, lower overall demand for crude amid the Omicron uncertainty, the Chinese crackdown on illicit practices at its independent refiners, and refinery maintenance season starting in late Q1 2022 have resulted in Asian refiners abstaining from extra Saudi crude supply for loading in January.Refiners in …

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• 9 December 2021 10:32 pm

  China Challenged By Sputtering Economic Dilemma

  

  Chinese policymakers want to stimulate growth, but they are forced to follow policies designed to hold back debt and speculative behavior.Chinese leaders are trying to reverse a sharp growth slowdown without abandoning policies that triggered much of the weakness to begin with a tricky task that could test Beijing’s ability …

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• 9 December 2021 9:51 pm

  US Shares Retreat Despite Record Low Jobs Data

  

  Markets retreated from their previous surging for three successive trading sessions, opening lower Thursday morning, despite fresh data from the US Labour Department that showed the number of Americans filing initial jobless claims fell to the lowest level in 52 years. All major US indexes were down in early trading, …

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• 9 December 2021 9:28 pm

  Macron Criticizes UK Government Over Brexit

  

  France’s Emmanuel Macron criticized the British government on Thursday, saying post-Brexit relationships with the UK are difficult because the UK does not do what it promises to do. “I hope Britain will re-commit to proper relations”, he said. French president’s comments come against the background of the negotiations with France …

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• 9 December 2021 9:01 pm

  EIA Reports Decline In Natural Gas Supplies

  

  The US Energy Information Administration reported on Thursday that domestic supplies of natural gas fell by 59 billion cubic feet for the week ended 3 December.That compared with the average decline of 55 billion cubic feet forecast by analysts polled by S&P Global Platts. Total stocks now stand at 3.505 …

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• 9 December 2021 8:15 pm

  US October wholesale inventories surge

  

  The Commerce Department said on Thursday that wholesale inventories accelerated 2.3%, instead of 2.2% as estimated last month. Stocks at wholesalers increased 1.4% in September.US wholesale inventories increased a little bit more than expected in October, suggesting that the restocking of warehouses could again support economic growth during the current …

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• 9 December 2021 7:47 pm

  T-Yields Lower Ahead CPI Data

  

  Most Treasury yields turned lower on Thursday, as US stocks relinquished some ground following three straight days of gains.Meanwhile, bond investors are awaiting the US November consumer-price index report on Friday and a Federal Reserve policy meeting next week.Treasuries dated three years and out were seeing some modest buying on …

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• 9 December 2021 7:19 pm

  US Weekly Jobless Claims Lowest In 52 Years

  

  Weekly jobless claims tumbled last week, reaching a fresh 52-year low as the US jobs market climbs out of its pandemic-era hole, the Labor Department reported Thursday.Initial filings for unemployment insurance totaled 184,000 for the week ended Dec. 4, the lowest going back to Sept. 6, 1969, which saw 182,000.Initial …

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