Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2024

• 23 November 2024 2:20 am

  DXY closes trading week strong Despite paring some gains

  

  The US Dollar Index (DXY) experienced a slight pullback on Friday, November 22nd, after reaching a two-year high amidst ongoing geopolitical tensions. While the robust S&P PMI data underscored the resilience of the US economy, supporting the DXY’s upward trajectory, several factors contributed to its decline.Firstly, profit-taking emerged as a …

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• 22 November 2024 11:55 pm

  GBP/USD: A Battered Pound Faces Headwinds

  

  The Pound Sterling has been under significant pressure in recent days, with the GBP/USD pair struggling to maintain its footing above the 1.2500 level. This decline can be attributed to a combination of factors, including disappointing UK economic data and escalating geopolitical tensions.Weak Economic Fundamentals Weigh on the PoundRecent economic …

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• 22 November 2024 10:24 pm

  Coinbase plans to list more meme coins amid regulatory optimism

  

  According to Tom Duff Gordon, vice president of Coinbase, the exchange will probably be able to provide services for smaller cryptocurrency tokens, such as meme coins. Because of his pro-crypto position, the executive expects industry expansion and regulatory certainty under Donald Trump’s administration. The SEC has accused Coinbase of running …

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• 22 November 2024 7:08 pm

  Oil Markets Eying Weekly Gains Following PMI Data

  

  Crude Oil prices rebounded after a volatile Friday, driven by a surge in the US dollar and positive economic indicators from the United States. The US Dollar Index hit a two-year high, benefiting from the weaker Eurozone economy and strong US economic data.The geopolitical tensions between Russia and Ukraine continue …

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• 22 November 2024 4:05 pm

  Gold Prices Poised for Growth in 2025 Amid Economic and Geopolitical Tailwinds

  

  Analysts at UBS forecast sustained upward momentum in gold prices throughout 2025, driven by a combination of declining global interest rates and persistent geopolitical risks. These factors reinforce gold’s status as a reliable safe-haven asset while aligning with favorable macroeconomic trends. Key Drivers for Gold’s Rally Lower Interest Rates Central …

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• 22 November 2024 2:16 pm

  European Equity Markets Rise Amid Heightened Geopolitical Tensions

  

  European stock markets opened higher on Friday as investors kept a close eye on escalating conflict between Russia and Ukraine and assessed Germany’s downwardly revised economic growth figures for Q3. Market Overview Germany’s DAX: Up 0.6% France’s CAC 40: Up 0.5% UK’s FTSE 100: Up 0.7% Geopolitical Escalation: Russia-Ukraine Conflict …

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• 22 November 2024 1:15 pm

  Euro Zone Business Activity Slumps Amid Manufacturing and Services Declines

  

  Euro zone business activity suffered an unexpected and sharp downturn in November, as the region’s services sector joined manufacturing in contraction. HCOB’s composite Purchasing Managers’ Index (PMI) for the euro zone, compiled by S&P Global, plummeted to a 10-month low of 48.1, well below the 50 threshold that delineates expansion …

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• 22 November 2024 11:31 am

  Bitcoin Nears $100K Milestone Amid Optimism Over Trump-Era Crypto Policies

  

  Bitcoin surged on Friday, reaching new heights as optimism surrounding friendlier U.S. regulations and a surge in options trading activity fueled the cryptocurrency’s rally. The world’s largest crypto asset climbed 1.9% to $98,870.4 by 06:17 GMT, with an intraday high of $99,289.3. This marks a weekly gain of 9.1%, propelling …

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• 22 November 2024 11:29 am

  Gold Poised for Biggest Weekly Gain in Eight Months Amid Escalating Tensions

  

  Gold maintained its upward momentum on Friday, setting the stage for its largest weekly gain in nearly eight months. The precious metal’s appeal as a safe haven surged amid heightened geopolitical tensions, as Russia lowered its nuclear weapon usage threshold and launched a hypersonic missile at Ukraine. Spot gold remained …

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• 22 November 2024 2:46 am

  Bitcoin’s Bullish Run: A New Era Dawns

  

  Bitcoin, the world’s pioneering cryptocurrency, continues its relentless ascent, nearing the historic $100,000 mark. This unprecedented surge, which began just weeks ago, has propelled the digital asset to new heights, captivating investors and industry experts alike.The timing of this bullish run is no coincidence. It coincides with the election of …

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• 22 November 2024 1:08 am

  Gold Prices Soar Amid Geopolitical Tensions

  

  Gold prices have surged for the fourth consecutive day, surpassing the 50-day Simple Moving Average (SMA) of $2,660 due to global unrest and reports of Russia’s potential Inter-Continental Ballistic Missile (ICBM) launch. The US economic data suggests a strong jobs market, with the XAU/USD trading at $2,672 at weekly highs, …

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• 22 November 2024 12:16 am

  Market Drivers; US Session

  

  Market Focus Shifts to Japan and Global PMIsThe US Dollar continued its upward trend, reaching new 2024 highs. This was driven by a combination of factors, including a weakening risk appetite and ongoing geopolitical tensions.Key Events on Friday, November 22nd:• US: Flash S&P Global Manufacturing and Services PMIs, final Michigan …

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• 21 November 2024 11:05 pm

  Dow climbs as US dollar softens

  

  The Dow Jones Industrial Average closed sharply higher on Thursday, surging over 600 points. This significant gain marks a rebound from a recent market pullback and reflects renewed investor optimism. Key factors driving the rally include a robust job market, as evidenced by the decline in weekly jobless claims, and …

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