Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 4 December 2023 11:29 am

  Gold prices reach all-time highs

  

  Gold prices rose to an all-time high above $2,100 an ounce on Monday as comments from Federal Reserve Chairman Jerome Powell boosted traders’ confidence that the US central bank may cut interest rates early next year. Lower interest rates reduce the opportunity cost of holding non-interest-bearing yellow metal. By 05:30 …

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• 4 December 2023 10:34 am

  Oil declines as uncertainty persists over OPEC+ cuts

  

  Oil futures reversed course after briefly rising on Monday amid continued pressure from the OPEC+ decision and uncertainty over global fuel demand growth, but risks of supply disruptions due to conflict in the Middle East limited losses. By 0406 GMT, Brent crude futures fell 49 cents, equivalent to 0.4 percent, …

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• 4 December 2023 1:10 am

  Financial Markets’ Weekly Recap, Nov. 27 – Dec. 1

  

  Gold prices surged to a six-month high in current trading, driven by the decline of the US dollar and the belief that the Fed is ending its interest rate hike cycle, contributing to the positive momentum in the precious metal.Gold’s PerformanceGold prices surged to a new multi-month high of $2060.62 …

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• 2 December 2023 1:55 am

  Gold surges to a seven-month high, amid Powell’s comments

  

  Reacting to Fed Chair Jerome Powell’s speech, the price of gold immediately surged to a new multi-month high of $2060.62. The precious metal even extended its gains later on the day and is trading at 2071.15 per ounce at the time of writing, gaining $35.05, and thereby up by 1.72%. …

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• 1 December 2023 10:57 pm

  Wall Street finds footing as Powell dampens rate cut bets

  

  After their November surge, stocks begin December strongly. After a record-breaking month, US stocks increased on Friday as investors processed comments made by Federal Reserve Chair Jerome Powell, who cautioned against drawing the premature conclusion that rate hikes by the Fed are done or speculating about when cuts might take …

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• 1 December 2023 10:03 pm

  GBP/USD rallies amid Fed’s easing bets, softer dollar

  

  After hitting a daily low of 1.2609, the GBP/USD pair increased by more than 90 pip, or 0.70%, in the latter part of Friday’s North American session. The Greenback suffered as a result of more than 100 basis points of rate cuts by the Fed the following year due to …

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• 1 December 2023 9:05 pm

  USD/JPY dips on weak US PMI, Powell speech

  

  USD/JPY experiences a 0.52% decline in the North American session. A lower-than-expected ISM manufacturing reading for November weighed on the US Dollar.Fed Chair Jerome Powell acknowledges some easing in inflation but emphasizes that core inflation remains high and monetary policy decisions will be data dependent.The USD/JPY trims some of its …

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• 1 December 2023 8:17 pm

  EUR/USD’s return below 1.0915 could herald a deeper pullback

  

  The EUR/USD pair declined below the 1.09 mark. Economists at Société Générale analyze the pair’s outlook. At the time of writing, the pair is trading at 1.08548, down −0.00303 by almost −0.28%The pace of EUR/USD appreciation should be gradual. The 10Y Bund dropped to 2.395%, extending the correction to 60 …

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• 1 December 2023 7:32 pm

  US: ISM Manufacturing PMI for November unchanged

  

  ISM Manufacturing PMI remained at 46.7 in November. US Dollar Index trimmed daily gains and fell to 103.50. The economic activity in the US manufacturing contracted in November, for the 12th consecutive month, with the ISM Manufacturing PMI at 46.7, unchanged from October. This reading came in worse than the …

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• 1 December 2023 4:36 pm

  The British Prime Minister intends to support efforts to combat climate change with two billion dollars

  

  British Prime Minister Rishi Sunak is set to announce a funding commitment of £1.6 billion (approximately $2 billion) during the United Nations Climate Change Conference (COP28) summit on Friday. The announcement aims to underscore the UK’s commitment to climate change mitigation efforts after easing some measures to achieve emission reduction …

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• 1 December 2023 3:42 pm

  European stocks rise ahead of the release of economic data

  

  European stocks rose as investors were optimistic about growing expectations of interest rate cuts as inflation declines, while awaiting the release of more economic data and comments from Federal Reserve Chairman Jerome Powell on Friday. The STOXX 600 index rose 0.5 percent by 0810 GMT amid a broad rally following …

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• 1 December 2023 12:21 pm

  Nikkei records its first weekly decline in 5 weeks, under pressure from technology stocks

  

  Japan’s Nikkei index fell at the close on Friday, also recording its first weekly decline in five weeks, with technology companies’ shares falling due to a rise in bond yields following economic data that provided additional evidence that the US central bank may end raising interest rates. The Nikkei ended …

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• 1 December 2023 11:50 am

  Oil prices continue to decline after lower-than-expected cuts in OPEC+ production

  

  Oil prices fell in early Asian trading on Friday, continuing the losses that began after producers in the OPEC+ alliance agreed to voluntary reductions in oil production in the first quarter of next year, which were reductions that fell below market expectations. Brent crude futures for February fell 14 cents, …

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