Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 14 November 2023 8:49 pm

  US Retail Sales Preview

  

  The US Census Bureau’s October Retail Sales report is expected to reveal a decline in consumption for the first time since March. Economists predict a 0.3% decline in October, with sales ex-autos compared to the prior release of 0.6%. Deutsche Bank expects weak unit motor vehicle sales to lead to …

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• 14 November 2023 7:56 pm

  Will recent US CPI data be welcomed by Fed policymakers?

  

  The US consumer price inflation looks to have negatively surprised the consensus. Economists still predict that the Fed will hold interest rates steady until June 2024, when they will start to cut them. In other words, October saw a decrease in inflationary pressures.With fuel prices acting as a major drag …

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• 14 November 2023 3:56 pm

  JPY is approaching the lowest level in 3 decades

  

  The battered yen remained stuck near a three-decade low against the dollar on Tuesday and struggled to stem losses as the Bank of Japan’s ultra-loose monetary policy continued to conflict with expectations of interest rates remaining high for longer periods elsewhere. The Japanese currency recorded its lowest level in 15 …

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• 14 November 2023 1:50 pm

  A slight rise in European stocks ahead of the CPI data

  

  European stocks rose on Tuesday, led by auto and basic resources shares, as investors awaited US inflation data that may provide a clearer picture of the Federal Reserve’s monetary policy outlook. By 0810 GMT, the European STOXX 600 index rose 0.1 percent after a broad rise in the previous session. …

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• 14 November 2023 12:18 pm

  Japan’s Nikkei index closed higher amid optimism about corporate profits

  

  Japan’s Nikkei index closed higher on Tuesday amid optimism that local companies will continue to announce strong forecasts as the yen remains near its lowest level in three decades against the dollar. The Nikkei rose 0.34 percent to close at 32,695.93 points, while the broader Topix index rose 0.37 percent …

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• 14 November 2023 11:01 am

  Oil prices rose after a key OPEC report

  

  Oil prices rose on Tuesday after a report by the Organization of the Petroleum Exporting Countries (OPEC) said that market fundamentals remained strong and against the backdrop of concerns about possible supply disruptions as the United States tightens the noose on Russian oil exports. By 0113 GMT, Brent crude futures …

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• 14 November 2023 3:23 am

  Market Drivers – US Session, Nov. 13

  

  The US Consumer Price Index is the crucial report on Tuesday. The Australian Westpac Consumer Confidence Index and the National Australia Bank’s Business Survey are due during the Asian session. Later in the day, the Eurozone will release Q3 GDP and employment figures, the UK will report jobs data, and …

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• 14 November 2023 3:07 am

  US Government faces shutdown next week

  

  The federal government faces a shutdown next week if Republicans and Democrats in Congress cannot agree on a spending plan. Moody’s has reaffirmed America’s credit rating to “negative” due to concerns about the nation’s worsening fiscal position and political polarization. The change, which falls short of a downgrade to the …

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• 14 November 2023 2:47 am

  Oil closes higher as OPEC’s report eases demand woes

  

  Following OPEC’s monthly market report, which allayed fears about declining demand and a US investigation into Russian oil sanctions violations, WTI crude oil prices rose by 1.43% on Monday. US West Texas Intermediate crude futures gained 1.4% to settle at $78.40 per barrel, while Brent crude futures increased by 1.29% …

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• 14 November 2023 2:26 am

  EUR/GBP softer ahead of key economic data

  

  A downward trend is observed in the EUR/GBP ahead of Tuesday’s key data points. After a consistent increase last week, the Euro is now declining. A major data double-header featuring labour, wages, and GDP figures for the UK and the EU is causing the EUR/GBP to weaken. As we approach …

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• 14 November 2023 1:07 am

  How will China’s deflation make Powell’s mission harder?

  

  As he gets ready to leave for San Francisco, Fed Chair Jerome Powell may want to discuss China’s plans with Chinese officials on how to avoid a prolonged deflationary slump. However, it is worth noting that 4 years ago, on the thirteenth of November 2019, Powell said it is hard …

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• 13 November 2023 10:42 pm

  Could China’s deflation impact global markets more than expected?

  

  Only China wants its inflation to increase, whereas the rest of the world is trying to bring inflation down from current levels. China’s CPI decreased by two basis points in October. Although the country’s official statements indicate that deflation is unlikely, the PPI fell by more than 2.5%.There are also …

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• 13 November 2023 9:29 pm

  GBP/JPY reacts to looming options expiration

  

  The GBP/JPY is trading into the high side, following a spike in Yen rates due to Yen options expiries. However, the moves were short-lived, and the pair is now trading back into recent highs. Japanese Finance Minister Shunichi Suzuki warned that the Japanese government is closely monitoring currency markets, which …

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