Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 28 November 2023 2:22 pm

  OPEC+ production cuts in place and what could change

  

  OPEC+ analysts and sources have indicated that the group, consisting of OPEC members such as Saudi Arabia and allied countries like Russia, will hold an online meeting on Thursday. During this meeting, further adjustments to the existing agreement, which has already curtailed oil supplies until 2024, might be considered to …

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• 28 November 2023 1:02 pm

  Gold hits a 6-month high amid the dollar’s decline

  

  Gold prices stabilized after touching a six-month high on Tuesday, as expectations that the Federal Reserve will end its interest rate hike cycle kept the dollar and Treasury yields under pressure. Gold rose in spot transactions 0.1 percent to $2,015.33 per ounce by 0643 GMT, after reaching its highest levels …

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• 28 November 2023 11:50 am

  Oil is on its way to ending a series of losses

  

  Oil prices rose on Tuesday, snapping a multi-session losing streak ahead of a crucial OPEC+ meeting, which is widely expected to see production cuts increased and extended amid fears that supply will continue to exceed demand. By 0152 GMT, Brent crude futures rose 45 cents, or 0.6 percent, to $80.43 …

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• 27 November 2023 8:31 pm

  Canadian Dollar churns sideways as markets looking ahead to midweek data

  

  The Canadian Dollar is grappling with sideways momentum on Monday. Markets look ahead to key data for both the US and Canada in the latter half of the week.US PCE inflation & ISM Manufacturing, Canada GDP & employment change are on the horizon. The Canadian Dollar (CAD) is middling against …

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• 27 November 2023 7:42 pm

  US: New Home Sales retreat below expectations

  

  New Home Sales in the US declined 5.6% in October. US Dollar Index continues to hover around 103.40 after the data. Sales of new single‐family houses in October 2023 were at a seasonally adjusted annual rate of 679,000, according to estimates released jointly on Monday by the US Census Bureau …

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• 27 November 2023 2:57 pm

  Lukewarm performance for European stocks

  

  European stocks were steady on Monday as lower oil prices led to a decline in energy stocks, ahead of comments by European Central Bank President Christine Lagarde on monetary policy before a European Parliament committee. The European Stoxx 600 index remained stable at 0820 GMT, while the British Financial Times …

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• 27 November 2023 1:59 pm

  The British pound rose and the dollar fell as traders awaited new economic signals

  

  The pound sterling rose to its highest level in more than two months against the dollar on Monday, although some risk aversion limited the US currency’s losses, with traders awaiting new economic signals next week to determine the course of monetary policy regarding future interest rates. The current week is …

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• 27 November 2023 12:56 pm

  Brent crude falls towards $80 per barrel ahead of the OPEC+ meeting

  

  Oil prices experienced a decline on Monday, with Brent oil futures edging closer to $80 per barrel as investors awaited the OPEC+ group meeting scheduled for this week to determine the extent of production cuts in 2024. As of 02:31 GMT, Brent crude futures dropped by 37 cents, or 0.5 …

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• 27 November 2023 11:53 am

  Gold jumps to its highest level in 6 months

  

  Gold prices surged to a six-month high in current trading, buoyed by the decline of the US dollar. The ongoing belief that the Federal Reserve has completed its interest rate hike cycle further contributed to the positive momentum in the precious metal. Investors are closely watching US inflation data scheduled …

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• 27 November 2023 7:23 am

  Financial Markets’ Weekly Recap

  

  Data from the German statistics office confirmed on Friday that the country’s economy contracted slightly in the third quarter compared to the previous three months. The initial estimate, published in late October, indicated a contraction of 0.1 percent, which has now been substantiated. Ruth Brand, head of the Statistics Office, …

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• 25 November 2023 1:55 am

  Market Drivers – US Session, Nov. 24

  

  The US dollar experienced losses in a shortened week, with the Core PCE report being the most important. The US economy is stronger than that of European nations and is still growing, with the US Composite reported at 50.7 in recent PMIs. Weekly gains in EUR/USD were observed, but the …

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• 25 November 2023 12:59 am

  Oil settles lower, but records weekly gain

  

  Oil prices fell on Friday due to the release of hostages in Gaza, but prices gained their first week of gains in over a month ahead of the OPEC+ meeting to decide on production cuts in 2024. Brent crude futures settled down 84 cents at $80.58 a barrel, while American …

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• 24 November 2023 11:46 pm

  EUR/USD looks forward to climb over 1.0950

  

  The EUR/USD pair is experiencing a broad-market risk rally to close out the trading week, with market sentiment seeing a late break. US PMI data came in mixed, softening the US Dollar. The EUR/USD is trading into the 1.0950 level as the trading week winds up, with markets set for …

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