Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 15 December 2023 9:47 pm

  Wall Street Expects Oil Price To Recover In 2024

  

  According to Wall Street analysts, there is a chance that oil prices could possibly rebound in the upcoming year, though probably not much. Five major banks have projected that the global benchmark Brent will average roughly $85 per barrel in 2024, down from its current level of $77.Goldman Sachs Group …

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• 15 December 2023 8:50 pm

  US stocks head toward seventh straight week with gains

  

  US stocks are currently hovering around their record highs. They are poised to end the longest weekly winning streak in six years. With a 0.1% decrease in morning trade, the S&P 500 is now 1.7% behind its all-time high from early in the previous year. The Dow Jones Industrial Average, …

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• 15 December 2023 7:53 pm

  Euro extends reversal as US dollar boosted by Fed Williams

  

  The Euro has reversed its direction on Friday’s early US session as Federal Reserve President and CEO, John Williams, cooled hopes of interest rate cuts in March. This was offset by a downbeat US NY Empire State Manufacturing Index, which fell to -14.5 its lowest level in the last 7 …

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• 15 December 2023 5:54 pm

  Eurozone Contraction Fuels Currency Market Worries, Dollar Under Pressure

  

  On December 15, today’s economic data paints a concerning picture of ongoing contraction in industrial activity across Europe. S&P Global’s industrial purchasing managers’ data reveals a persistent downturn, holding steady at 44.2 in the eurozone for December, matching November’s level, contrary to the expected 44.5. In addition, the services purchasing …

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• 15 December 2023 2:34 pm

  European stocks rise heading for a weekly gain

  

  Energy and mining stocks led European stocks to rise on the last day of a week filled with major central bank decisions on monetary policy, as the US Federal Reserve set the tone for market expectations regarding the prospects for lowering interest rates. By 0805 GMT, the European STOXX 600 …

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• 15 December 2023 1:50 pm

  Dollar declines amid increasing possibilities of a US interest rate cut

  

  The dollar is on track to record its largest weekly decline against other major currencies since July, affected by the increasing possibility of a cut in US interest rates next year, while the euro and the pound received support on Friday as central banks in Europe continue their tendency to …

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• 15 December 2023 12:33 pm

  The Japanese Nikkei rises

  

  Japan’s Nikkei index achieved gains on Friday, supported by the cessation of the yen’s rise, which was affecting the earnings expectations of exporting companies. The Nikkei ended Friday’s session up 0.87 percent to 32,970.55, recording a weekly gain of 2.05 percent, ending a series of losses for two consecutive weeks. …

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• 15 December 2023 12:09 pm

  Oil prices are heading to record first weekly gains in two months

  

  Oil prices rose in early Asian trading on Friday and are on track to record their first weekly gains in two months, benefiting from the decline in the dollar and optimistic expectations from the International Energy Agency about oil demand next year. Brent crude futures rose nine cents to $76.70 …

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• 15 December 2023 2:01 am

  Market Drivers – US Session, December 14

  

  The US dollar has been softer despite the recent slew of US data, including Retail Sales and Jobless claims. The US Dollar Index dropped further on Thursday, extending the negative momentum that followed the FOMC statement. The dovish signals from the Fed have weighed on the US Dollar, which remains …

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• 15 December 2023 1:48 am

  EUR/GBP experience slight loss post ECB, BoE rate decisions

  

  EUR/GBP traded slightly lower in Thursday’s session, remaining pinned at 0.8610. The daily chart shows a neutral to bearish outlook, with buyers struggling to gain traction. The Relative Strength Index (RSI) is in negative territory, signaling continued downward momentum. The Moving Average Convergence Divergence (MACD) shows red bars, indicating bears …

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• 15 December 2023 1:18 am

  Treasury yields sink leading US dollar’s decline to multi-month lows

  

  The US dollar is experiencing a weakening trend, with the DXY Index hovering around 101.90, its lowest level since August. The Fed’s announcement of three rate cuts for 2024 has weighed heavily on US Treasury yields and the dollar. The Fed’s stance aligns with market expectations, fueling risk-on flows. Despite …

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• 15 December 2023 12:34 am

  WTI crude oil rebounds closer to $72

  

  WTI tried to regain some ground on Thursday, it was moving back above $72.50, before settling at $71.88 per barrel as at the time of writing, yet it is still up by some 2.61% Crude prices are still well below their previous peaks. Investors continue to have doubts that output …

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• 14 December 2023 10:42 pm

  Palladium Surges 12% as UK Sanctions Target Russia Metals

  

  Palladium headed for its biggest gain since March 2020 as the UK government targeted Russian metals — but not palladium — with new sanctions.The metal that is mainly used in catalytic converters surged as much as 12% on Thursday after the UK published measures that ban British citizens and entities …

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