Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2021

• 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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• 1 December 2021 5:23 pm

  OPEC+ Sees Larger Oil Supply Surpluses in January, Does it happen?

  

  OPEC and its allies will start two days of meetings on Wednesday to decide whether to pump more oil into the market or curb supplies amid slumping oil prices and concerns that the mutated Omicron strain of the coronavirus could dampen global energy demand. According to a document cited by …

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• 1 December 2021 3:29 pm

  European Shares Start December Higher, Eyes Focused on Omicron’s Fallout

  

  European shares rose on Wednesday as bargain hunters returned from the November turmoil, but investors remain concerned about whether the emergence of the new mutated Omicron from the coronavirus will affect economic activity in the winter months. The pan-European Stoxx 600 index rose 0.8 percent by 0816 GMT, following in …

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• 1 December 2021 3:00 pm

  UK Final Manufacturing PMI Revised Down in November

  

  The UK manufacturing sector activity expanded less than expected in November, the final report from IHS Markit confirmed on Wednesday.  The seasonally adjusted IHS Markit/CIPS UK Manufacturing Purchasing Managers’ Index (PMI) was revised lower from 58.2 to 58.1 in November, missing an estimation of 58.2. “Manufacturers are facing a challenging …

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• 1 December 2021 2:43 pm

  Market Drivers – Asian Session 1-12-2021

  

  Markets are still concerned about the Corona mutant, Omicron, and the first case was detected in Japan, despite the country closing its borders to arrivals from other countries. Spot gold rose 0.3 percent to $1,778.56 an ounce. US gold futures rose 0.2 percent to $1,780.60. On Tuesday, gold fell to …

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• 1 December 2021 1:40 pm

  Oil Rises More Than 3% Ahead of an OPEC Meeting, Amid Fears of Omicron

  

  Oil prices rose more than 3 percent on Wednesday, offsetting some sharp losses incurred during the previous session, as major producers prepare to discuss how to deal with the threat to fuel demand from the mutated Omicron. Brent crude futures rose $2.46, or 3.6 percent, to $71.69 a barrel by …

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• 1 December 2021 12:45 pm

  Japanese Stocks Stop Losing Streak, And Omicron Limits Gains

  

  Japanese stocks closed higher in choppy trading on Wednesday after three consecutive sessions of heavy losses, but uncertainty over the impact of the omicron capped gains. The Nikkei index ended trading on Wednesday, up 0.41 percent to 27,935.62 points, after rising nearly 1 percent. The broader TOPIX index compensated for …

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• 1 December 2021 3:45 am

  Market Drivers – US Session – 30-11-2021

  

  Uncertainty Behind Volatile US Session Risk-aversion is increasingly becoming a key word in the market context. The US dollar firstly fell but changed course during US trading hours to reach weekly highs against most major rival currencies.Concerns around the coronavirus pandemic rotated during the first half of the day, with …

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• 1 December 2021 3:28 am

  Gold Prices Impacted By Hawkish Comments

  

  Gold futures are currently traded lower by -2.20 at 1774.95 per ounce during on Tuesday after giving back some earlier gains because the precious metal got impacted by comments from U.S. Fed’s Powell sent buyers to selloff. According to the current market sentiment, Powell was able to send hawkish waves …

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