Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 7 November 2023 2:49 am

  RBA’s Decision Preview: Further tightening after four pauses in a row

  

  After four consecutive pauses, the Australian central bank (RBA) is anticipated to start tightening again during its Melbourne Cup meeting on Tuesday. Whether Governor Michele Bullock maintains her recent hawkish rhetoric, which suggests more interest rate hikes, will be the main focus of the RBA meeting.According to the way the …

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• 7 November 2023 1:57 am

  Gold declining ahead of RBA’s rate decision, Chinese data

  

  Place Gold is retreating from $1,990 as the yield on US Treasury notes increases slightly. Early on Tuesday, the market is becoming more nervous as the RBA is expected to hike interest rates by 25 basis points. China data will also be discussed during Tuesday’s early trading session.As of this …

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• 6 November 2023 9:48 pm

  Yen weakens on positive market sentiment

  

  As the market becomes more optimistic and favours riskier currencies over safe havens like the Yen, the value of the Japanese yen has declined at the beginning of the week. At its most recent meeting, the Bank of Japan sent conflicting signals, stating that it is still easing while also …

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• 6 November 2023 8:52 pm

  Fed’s Cook: Fed cannot anticipate all risks, but can build resilience to shocks

  

  Federal Reserve Governor Lisa Cook said on Monday that expectations of near-term policy rates do not appear to be driving rise in long-term rates. These comments failed to trigger a noticeable market reaction. As of writing, the US Dollar Index was unchanged on the day at 105.05. The US financial …

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• 6 November 2023 7:46 pm

  US dollar retreats on tightening bets, downturn concerns

  

  The dollar fell to an almost eight-week low against the euro on Monday on growing confidence that the Federal Reserve is done hiking interest rates, while comments from multiple U.S. central bank officials this week will be watched for further signals on rate policy.Fed Chairman Jerome Powell is due to …

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• 6 November 2023 7:09 pm

  Fox reports decent earnings amid industry challenges

  

  Despite difficulties brought on by the political election season and dwindling cable subscriptions, Fox reported modest results for the first quarter of its fiscal year. The company’s success with Tubi, its free streaming service, and its strong pricing strategy offset the challenges. The year-over-year increase in total revenue was less …

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• 6 November 2023 6:02 pm

  Gold declines as risk appetite increases and anticipation of Jerome Powell’s speech

  

  Gold fell on Monday as risk appetite increased, while traders awaited a speech by Federal Reserve Chairman Jerome Powell and statements from a group of Federal Reserve members scheduled for this week for further clues on the path related to monetary policy. By 1152 GMT, gold in spot transactions fell …

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• 6 November 2023 2:25 pm

  European stocks stabilize after a strong week

  

  European shares steadied on Monday after the benchmark index posted its biggest weekly jump since March, while Ryanair shares had their best performance in a month after record annual profits. The European STOXX index rose 0.1 percent by 0810 GMT after jumping more than three percent last week, with investors …

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• 6 November 2023 2:05 pm

  Dollar declines amid expectations of stopping US interest rate hikes

  

  Major currencies stabilized on Monday as investors braced for continued dollar losses that began at the end of last week after the Federal Reserve eased its statements indicating monetary tightening. The dollar index fell 0.08 percent to 104.99, and the euro rose 0.08 percent to $1.0738. The dollar index fell …

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• 6 November 2023 11:10 am

  Oil Prices Rise as Saudi Arabia and Russia Extend Production Cuts Amid Geopolitical Tensions

  

  In a move to maintain a tight supply, the world’s largest oil exporters, Saudi Arabia and Russia, confirmed the extension of voluntary production cuts until the end of the year. Brent crude futures increased by 0.5 percent, reaching $85.30 per barrel, while US West Texas Intermediate crude rose to $81.05 …

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• 6 November 2023 8:38 am

  Financial Markets’ Weekly Recap

  

  After a very busy week, several economic data releases are expected to weigh on the performance of multiple assets and most prominently, the US Dollar Index with the beginning of the new trading week.Oil’s PerformanceWTI crude dropped to $80.70, a decrease of more than 2%. Soft labour market data was …

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• 4 November 2023 12:29 am

  Market Drivers – US Session, Nov. 3

  

  Wall Street’s major indexes reached session highs after regaining their 50-day moving averages. The softer October payrolls report boosted stocks, with the Dow Jones Industrial Average holding a 0.9% gain. The S&P 500 rose 1.3%, while the Nasdaq led by 1.6%. Small-cap Russell 2000 surged 3%, while Innovator IBD 50 …

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• 4 November 2023 12:15 am

  EUR/GBP retreats to fortnight low on Sterling’s recovery

  

  The clear winner for Friday is the Sterling. The EUR/GBP pair is retreating into 0.8660 despite the strengthening of the pound sterling on Friday. Next week’s economic schedule includes the UK GDP and EU retail sales in the latter half.As the market approaches the weekly closing bell, the EUR/GBP is …

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