Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 22 November 2023 1:59 am

  Market Drivers – US Session, Nov. 21

  

  Gold rose sharply despite steady yields and peaked at $2,007. It then pulled back toward the $2,000 area. The critical level to break is $2,010. The US dollar’s increase on Tuesday was seen as a corrective measure because the currency remains vulnerable until the market refocuses on the story of …

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• 22 November 2023 1:43 am

  EUR/GBP sees worst trading day since July

  

  The Pound Sterling is up against the Euro by 0.5%, while hawkish remarks from Bank of England policymakers have helped the pound to surge. Before Wednesday’s trading session, the Euro is trading near its lowest point and showing little signs of recovery. In testimony before the Treasury Committee of the …

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• 22 November 2023 1:05 am

  Binance Founder Falls Down Money Laundering Slope

  

  After FTX collapsed, Binance’s CEO, Zhao Weibo, found Changpeng Zhao, also known as C.Z., guilty of fraud. Binance is the largest cryptocurrency exchange in the world. In addition to paying $4.3 billion in fines and restitution, Binance will also step down as CEO and pay a $50 million fine. In …

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• 22 November 2023 12:29 am

  FOMC Minutes: Rates Need to Stay High

  

  The Federal Open Market Committee members have agreed that monetary policy must remain restrictive until inflation is moving towards the 2% goal, according to minutes from their most recent meeting. The minutes also show that the committee members still worry that inflation could be stubborn or move higher, and that …

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• 21 November 2023 11:37 pm

  Hawkish FOMC minutes stir some US Dollar momentum

  

  The DXY Index rose to 103.65, up by 0.20%. FOMC members considered that the progress on inflation is “limited”. The US yields are still down on the day, limiting the US Dollar’s advance.In Tuesday’s session, the US Dollar Index traded with 0.20% gains around the 103.65 area as investors seemed …

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• 21 November 2023 10:48 pm

  Is US economy booming, China’s crashing?

  

  China’s economy is seen as more sustainable because it is deflating its bubbles and raising productivity, while the US is doing the opposite – feeding the Bernanke bubble and hoping for an AI cure for falling productivity. The “twin cancers” plaguing China’s economy are a property bubble plus a shadow …

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• 21 November 2023 10:03 pm

  Hawkish BoE drives GBP/USD higher ahead of FOMC Minutes

  

  During the North American session, the GBP/USD pair has gained 0.26%, supported by hawkish remarks made by Bank of England officials and weak US economic data. The pair is trading at 1.2536 at the time of writing.The Federal Reserve’s most recent monetary policy meeting minutes, which are predicted to show …

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• 21 November 2023 9:26 pm

  Wall Street retreats ahead of FOMC minutes

  

  On Tuesday, US stocks dipped and benchmark Treasury yields edged lower due to few market moving catalysts. All three major US stock indexes were lower, with the tech-laden Nasdaq down the most as investors await Nvidia Corp’s results after the closing bell. The S&P 500 and the Nasdaq appeared set …

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• 21 November 2023 8:31 pm

  Gold is soaring above $2000 ahead of FOMC Minutes

  

  Gold Index (XAU/USD) rose by 1.40% in Tuesday’s trading session, breaking through the $2,000 barrier and rising by 1.40%. This was primarily driven by the downdraft in US yields and a weak US dollar. The FOMC November minutes will be released later in the session, where investors will look for …

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• 21 November 2023 7:50 pm

  Will FOMC minutes support careful monetary policy stance?

  

  During his most recent press statements and remarks, Federal Reserve Chair Jerome Powell used the word “careful” to characterise the U.S. central bank’s attempt to strike a balance between tightening credit conditions and the Fed’s belief that the economy was about to slow down, and the risks of still-high inflation …

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• 21 November 2023 3:07 pm

  Yen is rising and dollar is falling as traders await interest rate fluctuations

  

  The yen rose against the dollar for a fourth straight session on Tuesday, with investors anticipating the possibility that the Bank of Japan will tighten monetary policy next year while the Federal Reserve will ease it. The dollar reached its lowest level since mid-September at 147.16 yen, and recorded in …

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• 21 November 2023 2:32 pm

  Limited movements in European stocks amid losses in the financial sector

  

  European stocks recorded limited movement on Tuesday amid a decline in the financial sector that offset gains in mining stocks, while investors continue to search for evidence to support expectations that major central banks have finished raising interest rates. The European STOXX 600 index rose 0.1 percent by 0810 GMT. …

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• 21 November 2023 2:05 pm

  Nikkei declines amid selling in auto stocks due to the rise in the yen

  

  Japan’s Nikkei closed slightly lower on Tuesday as the yen’s rise against the dollar led to selling in automakers’ stocks. The Nikkei fell 0.1 percent to 33,354.14 after opening 0.2 percent higher and trading slightly higher during the session. The broader Topix index fell 0.2 percent to 2,367.79 points. The …

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