Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 22 December 2023 3:31 pm

  Dollar strengthens its position slightly as US inflation data approaches

  

  The dollar stabilized above its lowest level in over four months on Friday, with expectations centered on the release of crucial inflation data in the United States later in the day. This data may offer insights into the potential for the central bank to cut rates in the coming year. …

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• 22 December 2023 2:15 pm

  Oil continues its weekly gains, rising 1 percent, as tension continues in the Red Sea

  

  Oil prices rose as much as 1 percent on Friday as tensions continued in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to withdraw from OPEC raised questions about the cartel’s effectiveness in supporting prices. By 0409 GMT, Brent crude futures rose 86 …

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• 22 December 2023 12:40 pm

  Gold is approaching a 3-week peak amid bets on lower interest rates

  

  Gold prices surged on Friday to their highest levels in about three weeks as expectations grew that the Federal Reserve would cut interest rates early in the year. This move pushed the dollar and bond yields lower in anticipation of the upcoming US inflation data. As of 0513 GMT, spot …

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• 22 December 2023 11:36 am

  Nikkei rises for the second week in a row as banking and shipping stocks rise

  

  Japan’s Nikkei index posted a second consecutive weekly gain, buoyed by a Thursday rally on Wall Street, fueled by US data reinforcing the notion of a soft landing for the world’s largest economy. Closing at 33,169.05 points on Friday, the Nikkei inched up by 0.09 percent, marking a 0.6 percent …

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• 22 December 2023 12:35 am

  US Dollar Retreats Ahead Of PCE Data

  

  The core Personal Consumption Expenditures Price Index would increase by 0.1% in November, signifying a 3.3% increase from the previous year according to market estimates. Policymakers should take heart from this since it provides a steadier picture of pricing pressures by removing unpredictable prices for food and petrol.A 3.3% reading …

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• 22 December 2023 12:05 am

  Oil Retreats After Angola Exits OPEC

  

  Oil futures declined on Thursday after Angola announced its decision to leave the Organization of the Petroleum Exporting Countries (OPEC). The move seemingly stirred investors’ hopes there would be more supply as the African country previously voiced opposition to the group’s recent decisions, including the one on production cuts.WTI intiallt …

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• 21 December 2023 10:50 pm

  Gold surges as No.2 Gold-Buying Central Bank faces political crisis

  

  The world’s second-largest gold-buying central bank is trembling because to Poland’s political unrest, which has caused gold prices to briefly surpass $2040 per ounce. Poland’s central bank has reported making significant gold purchases this year, second only to China’s, but political turmoil is expected. At the time of writing, gold …

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• 21 December 2023 9:51 pm

  Swiss Franc climbs to four-month high against US dollar

  

  The Swiss Franc is testing higher ground against the US Dollar on Thursday, as risk appetite increases due to lower US inflation data. The USD/CHF pair slipped through the 0.8600 handle, bolstering all major currencies and lifting the Swiss Franc into a new twenty-week high against the dollar. The US …

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• 21 December 2023 8:35 pm

  US Stocks recover after worst day since October

  

  Following the largest day sell-off in months for the main indexes, US equities rose early on Thursday. The S&P 500 surged by roughly 0.8% at the start of trading, recovering from the benchmark index’s largest one-day drop since October. Following the end of nine-day winning streaks, the teach-heavy Nasdaq Composite …

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• 21 December 2023 7:57 pm

  AUD/USD benefits from softer US dollar following US GDP data

  

  The AUD/USD pair experienced an upward spike of 0.70% as it rose towards the 0.6775 level. The US’s Q3 GDP growth was lowered down from 5.2% to 4.9%, reflecting a slower-than-expected rate of economic activity.The US dollar was under further pressure after the 5-year and 10-year US Treasury rates fell …

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• 21 December 2023 7:16 pm

  Euro extends gains following downbeat US GDP data

  

  The Euro has jumped to 1.1000 following the final US GDP that appears disappointing. US economic growth revised down to 4.9% in the third quarter from the previous 5.2% estimation.The focus is now on the looming US PCE Price Index which investors eagerly await to get more direction on the …

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• 21 December 2023 3:20 pm

  Dollar stabilizes and sterling faces pressure as focus shifts to US inflation

  

  On Thursday, the dollar steadied, while the pound experienced losses in light trading activity during the holiday season. Market participants are anticipating the release of crucial year-end data—the U.S. inflation figures scheduled for Friday. The pound faced significant losses against the dollar, marking its most substantial decline in two months …

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• 21 December 2023 2:41 pm

  Brent approaching $80 after a record increase in US inventories

  

  Oil prices stabilized on Thursday, with Brent trading close to $80 a barrel, despite concerns about disruptions in global trade and rising inventories in the United States. As of 0914 GMT, Brent crude futures saw a modest increase of 13 cents, or 0.1 percent, reaching $79.80 per barrel, while US …

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