Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 26 December 2023 10:21 pm

  Gold’s momentum benefits from softer US dollar

  

  The thin holiday trading volumes will likely make gold price range questionable. But, generally speaking, the weakness of the US dollar continues to support the strong upward rebound of the gold price, with it holding on to the psychological resistance level of $2,000 per ounce. It seems that the gold …

  Read More »
• 26 December 2023 8:04 pm

  Stocks kick off slightly higher in last week of 2023

  

  US stocks opened higher on Tuesday to start the last week of the year, as traders aimed to end 2023 on a strong note. The S&P 500 climbed 0.3%, and the Nasdaq Composite advanced 0.4%. The Dow Jones Industrial Average gained 100 points, or about 0.3%. Intel rose nearly 3% …

  Read More »
• 26 December 2023 4:10 pm

  Russian Finance Minister: The budget deficit will reach about 1.5% of GDP in 2023

  

  :Russian Finance Minister Anton Siluanov recently announced on state television that the projected budget deficit for 2023 is set to reach approximately 2.9 trillion rubles, equivalent to $31.6 billion, or about 1.5% of the country’s Gross Domestic Product (GDP). Siluanov highlighted that both expenditures and revenues exceeded initial expectations, attributing …

  Read More »
• 26 December 2023 1:33 pm

  Dollar fluctuates in weak trading and Yen stabilizes

  

  Amid the Christmas holiday, the dollar grapples with consolidation efforts against a backdrop of weakened trading. Signals of declining inflation in the largest economy, the United States, contribute to the dollar’s challenges, offering the Federal Reserve room for potential interest rate cuts in the upcoming year. Concurrently, the yen maintains …

  Read More »
• 26 December 2023 12:32 pm

  Oil stabilizes, eyes are on the Middle East and US interest rate cuts

  

  Oil prices experienced a subtle shift on Tuesday, with investor attention split between heightened geopolitical tensions in the Middle East and the optimism surrounding potential interest rate cuts by the US Federal Reserve. These factors contribute to a delicate equilibrium, impacting global economic growth and influencing oil demand. Market Dynamics: …

  Read More »
• 26 December 2023 10:50 am

  Gold rises amid bets on lowering US interest rates

  

  Gold prices rose on Tuesday during weak trading due to the Christmas holiday and in light of the decline in the dollar and bond yields due to growing expectations that the Federal Reserve (the US central bank) will cut interest rates in March. Gold in instant transactions rose 0.5 percent …

  Read More »
• 26 December 2023 1:14 am

  Will ETH, BTC Register New Highs This Year?

  

  As the volatile 2023 concludes, the Ethereum market price recovers remarkably, forming an ascending triangle pattern in the weekly chart. Buyers are attempting a bullish breakout fueled by the recent October rally of 2023. If buyers manage to cross the Ethereum market value above $2200, the bull run continuation can …

  Read More »
• 25 December 2023 11:17 pm

  Gold price declines from $2070 highs amid market holidays

  

  After touching the pre-holiday highs at $2070, gold retreats to around $2053 per ounce. Gold is being pressured higher by growing investor wagers on looming quicker, more frequent Fed rate cuts in the new year. US inflation is still down, and Treasury yields are easing as risk appetite surges.On Friday, …

  Read More »
• 25 December 2023 9:02 pm

  How have US stocks performed amid Santa rally’s onset?

  

  After five straight record closing, US stocks saw a slight decline; however, all three major US indexes ended the day down. Wall Street was expecting the Santa Rally to push markets to new heights as they finish 2023 on a high note. With a 24% increase so far this year, …

  Read More »
• 25 December 2023 4:17 pm

  A Recap of Global Oil Markets in 2023 and Anticipated Trends for 2024

  

  In 2023, the global oil markets underwent a transformative journey, shaped by a confluence of factors ranging from the lingering impacts of the COVID-19 pandemic to geopolitical events such as Russia’s invasion of Ukraine. This tumultuous backdrop precipitated a realignment of benchmark crude oil prices, reshaping global trade flows and …

  Read More »
• 25 December 2023 1:42 pm

  Russia: We will start buying foreign currencies if the price of oil ranges between 88 and 90 dollars per barrel

  

  The head of the Russian Central Bank, Elvira Nabiullina, revealed in an interview with Russian media that the bank is poised to initiate the purchase of foreign currencies if oil prices reach the range of $88 to $90 per barrel. She further indicated that the bank will persist in selling …

  Read More »
• 25 December 2023 11:06 am

  Japan’s Nikkei index closed higher amid expectations of a cut in interest rates

  

  On Monday, Japan’s Nikkei index closed higher, buoyed by the prospect of interest rate reductions in the United States, which also contributed to gains in the Standard & Poor’s 500 and Nasdaq indices at the conclusion of the previous week’s trading. However, shares of shipping companies experienced a decline due …

  Read More »
• 25 December 2023 8:34 am

  Financial Markets’ Weekly Recap

  

  European stocks closed on a weak note on Friday as weaker-than-expected US inflation data offset losses in sportswear makers and stocks exposed to China, just ahead of the Christmas holiday. The European STOXX 600 index edged up by 0.1 percent, marking gains for the sixth consecutive week in a streak …

  Read More »