Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2024

• 11 December 2024 11:05 pm

  ECB Poised For Last Cautious Rate Cut In 2024 Amid Economic Uncertainty

  

  For the fourth time this year, the European Central Bank is anticipated to lower its key deposit facility rate by a quarter point, to 3 percent. In order to prevent the Eurozone from slipping into stagnation due to political impasse in France and policy drift in Germany, many also anticipate …

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• 11 December 2024 10:12 pm

  Canadian Dollar Rebounds Post-BoC Rate Cut

  

  The Canadian Dollar staged a modest recovery on Wednesday, gaining 0.2% against the US Dollar. This uptick followed the Bank of Canada’s decision to implement another 50-basis-point interest rate cut.BoC Takes Aggressive StanceThe central bank’s latest move underscores its commitment to stimulating economic growth in the face of weakening economic …

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• 11 December 2024 8:31 pm

  XAU Rises on Fed Rate Cut Optimism

  

  Gold prices climbed on Wednesday, December 11, 2024, as the latest inflation data increased the likelihood of a Federal Reserve interest rate cut next week.Spot gold gained 0.7% to $2,713.29 per ounce, while U.S. gold futures rose 1.4% to $2,756.00. The U.S. Consumer Price Index (CPI) for November came in …

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• 11 December 2024 6:58 pm

  BoC slashes rate policy by 50 basis points as expected

  

  Bank of Canada (BoC) took a decisive step on Wednesday, slashing its policy rate by 50 basis points to 3.25%. This move, widely anticipated by market analysts, aligns with the central bank’s efforts to stimulate economic growth and combat inflationary pressures. The Canadian Dollar weakened further against the US Dollar …

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• 11 December 2024 5:54 pm

  U.S. Consumer Prices Rise Slightly in November, Supporting Expectations for Fed Rate Cut

  

  U.S. consumer prices edged up slightly in November on an annualized basis, aligning with expectations and reinforcing the likelihood of another interest rate cut by the Federal Reserve next week. The Consumer Price Index (CPI) published by the Labor Department rose by 2.7% year-over-year in November, marginally higher than October’s …

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• 11 December 2024 5:06 pm

  OPEC Cuts Global Oil Demand Growth Forecast for 2024

  

  OPEC announced on Wednesday a reduction in its global oil demand growth forecast for 2024, marking the fifth consecutive downward revision in its monthly report. This adjustment reflects increasing concerns over macroeconomic challenges, including slowing global economic growth, high interest rates, and subdued industrial activity. The group also lowered its …

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• 11 December 2024 4:27 pm

  US Futures Hold Steady Ahead of Inflation Data; Crude Prices Rise on China Stimulus Hopes

  

  US stock index futures showed little movement early Wednesday, stabilizing after a decline in the previous Wall Street session, as investors await pivotal inflation data. Meanwhile, crude oil prices gained amid expectations of increased demand in China following promises of economic stimulus. Market Snapshot Dow Jones Futures: Down 65 points …

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• 11 December 2024 3:50 pm

  Bank of Canada Expected to Cut Rates Amid Economic Weakness

  

  The Bank of Canada (BoC) is widely anticipated to reduce its key policy rate by another 50 basis points on Wednesday, marking the second consecutive move of this magnitude. The decision comes as Canada grapples with weak economic growth and rising unemployment, signaling an economy in need of support, according …

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• 11 December 2024 2:33 pm

  US Dollar Strengthens on Inflation Anticipation; Euro, Sterling, and Yuan Weaken

  

  The U.S. dollar advanced on Wednesday, bolstered by market anticipation ahead of the November consumer inflation report. The greenback’s strength weighed on the euro, sterling, and Chinese yuan, with broader implications for global currency markets. Key Developments Dollar Index Rises At 05:15 ET (10:15 GMT), the Dollar Index climbed 0.3% …

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• 11 December 2024 1:23 pm

  Oil Prices Edge Higher on China’s Policy Signals and Demand Optimism

  

  Oil prices rose on Wednesday as market optimism grew regarding potential demand recovery in China, the world’s largest crude importer, following Beijing’s announcement of a significant monetary policy shift aimed at spurring economic growth. Market Overview Brent Crude Futures: Up 24 cents (0.3%) to $72.43 a barrel by 0730 GMT. …

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• 11 December 2024 12:47 pm

  European Markets Rebound in November Amid Style and Sector Shifts

  

  European markets made a recovery in November after initial selloffs following the US elections. However, with the exception of Momentum, factor performance remained subdued. Momentum Style Faces Headwinds Barclays strategists, led by Matthew Joyce, maintained a Neutral stance on Momentum in November, despite its strong post-election performance. This cautious approach …

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• 11 December 2024 3:21 am

  Market Drivers; US Session

  

  The US Dollar strengthened further on Wednesday, buoyed by rising interest rates and anticipation of the upcoming US CPI report. The Greenback’s strength was underpinned by rising Treasury yields, which reflected growing expectations for further interest rate hikes from the Federal Reserve. In the forex markets, the Euro weakened against …

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• 11 December 2024 1:33 am

  Gild prices retreat from recent highs ahead of CPI data

  

  Gold prices have seen a recent surge, reaching a two-week high driven by a combination of factors. Geopolitical tensions, trade war fears, and anticipated rate cuts by major central banks have boosted safe-haven demand for gold. However, rising US bond yields and a stronger US Dollar have capped the precious …

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