Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2021

• 23 November 2021 7:46 pm

  Biden to Address State of US Economy

  

  Americans await a new address by President Joe Biden on the state of the US economy. Biden’s speech comes as prices soar 6.2% over the past 12 months.54% of Americans say cost of groceries and gas is a major crisis. Biden to release 50m barrels of reserve oil in effort …

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• 23 November 2021 7:37 pm

  PMI Survey: US Economic Growth Slowed Slightly in November,

  

  US private sector growth remained robust in November, although losing some pace as activity slowed among services providers, according to a survey of purchasing managers.The flash US composite output index decreased to 56.5 in November from 57.6 in October, a two-month low, according to data from IHS Markit released Tuesday. …

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• 23 November 2021 6:26 pm

  Market Drivers – European Session 23-11-2021

  

  The White House announced during a press statement today, Tuesday, that the US President decided to release the strategic oil reserves of the United States of America, estimated at about 50 million barrels, within 3 months, to contribute to calming crude oil prices, especially since oil prices are high and …

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• 23 November 2021 5:43 pm

  Biden to Release Oil Reserves to Combat High Gas Prices

  

  The White House announced during a press statement today, Tuesday, that the US President decided to release the strategic oil reserves of the United States of America, estimated at about 50 million barrels, within 3 months, to contribute to calming crude oil prices, especially since oil prices are high and …

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• 23 November 2021 4:56 pm

  The Dollar is at a 16-Month High, With a US Interest Rate Hike Expected in 2022

  

  The dollar index rose to its highest level in 16 months and its strongest level in more than four years against the yen after the nomination of Federal Reserve Chairman Jerome Powell for a second term in office, which reinforced market expectations of higher US interest rates in 2022.The exchange …

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• 23 November 2021 3:39 pm

  Gold Falls More Than 2% After Powell

  

  Gold prices fell more than 2% today, Monday, as the US dollar jumped after the re-nomination of Federal Reserve Chairman Jerome Powell for a second term, This fueled expectations that the US central bank would continue the Fed policy. Gold in spot transactions was down 2.08% at $ 1806.20 an …

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• 23 November 2021 2:39 pm

  European Shares Fall Due to Higher Covid-19 Cases

  

  European shares fell to a three-week low on Tuesday, November 23, after a resurgence of Covid-19 cases and concerns about interest rate hikes dampened sentiment ahead of flash readings on business activity in the eurozone. The European STOXX600 index fell by 1% after Asian markets followed Wall Street’s lead in …

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• 23 November 2021 1:41 pm

  Market Drivers – Asian Session 23-11-2021

  

  The Manufacturing PMI in Eurozone’s economic powerhouse came in at 57.6 this month vs. 56.9 expected and 57.8 prior. The index hit fresh ten-month lows. Services PMI reached two-month highs of 53.4 in November as against 51.5 estimated and 52.4 previous. The Eurozone manufacturing sector activity improved more than expected …

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• 23 November 2021 1:09 pm

  Oil is Falling Amid Talk of Releasing Quantities of Strategic Reserves

  

  Oil prices fell on Tuesday after rising in the previous session, as a result of talk that the United States, Japan, and India will release crude oil reserves to bring prices down, despite the risk of faltering demand due to the spread of coronavirus cases in Europe. A source familiar …

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• 23 November 2021 4:43 am

  Market Drivers – US Session- 22-11-2021

  

  Finally, oil prices are rebounding from recent losses, on the back of reports that OPEC+ could adjust plans to raise oil production if large consuming countries release crude from their reserves or if the coronavirus pandemic dampens demand. This marks the latest development in the market after weeks long tug-of-war …

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• 23 November 2021 4:08 am

  Yellen: Not Worried About A 1970s Inflation Replay

  

  “Price pressures to subside as life normalizes in 2022,” US Treasury Secretary Janet Yellen said while crossing wires during late Monday night. The policymaker expected, “Monthly CPI around 0.2% to 0.3% in H2 of 2022.” Earlier, US Treasury Secretary Yellen spoke during a CNBC interview while saying, “Inflation has reached …

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• 23 November 2021 4:04 am

  Bostic: Fed Should Consider How Fast To Taper

  

  Atlanta Fed’s Raphael Bostic said on Monday night interview on Bloomberg TV that faster taper would give the US more optionality, but “we still have a COVID economy, he added.Given the mixed comments and Wall Street’s latest mild reaction, as S&P 500 Futures printed 0.14% intraday gains following the comments …

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• 23 November 2021 3:53 am

  Wonderful Week With Good News for US Dollar

  

  The US dollar soared against all major currencies after President Biden officially re-nominated Jerome Powell as Fed Chair and Lael Brainard will become Vice Chairman when Richard Clarida’s term ends in January. Greenlight for Policy Normalization When it comes to heads of central banks, investors generally prefer continuity which explains …

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