Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 23 December 2023 2:20 am

  Market Drivers – US Session, Dec. 22

  

  The Dow Jones reached all-time highs, while US Treasury yields moved lower. The 10-year settlement was around 3.90%, the lowest since July. The US Dollar Index fell for the second week in a row, falling to monthly lows below 102.00. Market repricing expectations from the Fed in 2024 keep the …

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• 23 December 2023 2:07 am

  Gold steadies above $2053 after flirting $2070 post PCE data

  

  As of this writing, the price of the precious metal pulled back to about $2053 after briefly rallying up to flirt $2,070 before Friday’s pre-holiday closing. Gold is being pressured higher by growing investor bets on quicker, more frequent Fed rate cuts.US inflation is still down, and Treasury yields are …

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• 23 December 2023 12:50 am

  S&P 500 on track for eighth-straight winning week

  

  The S&P 500 increased on Friday in response to lower inflation figures, and Wall Street was hoping to continue its year-end rally as the major averages were headed for their eighth consecutive winning week. The Nasdaq Composite increased by 0.16%, while the Dow Jones Industrial Average dropped 10 points, or …

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• 23 December 2023 12:05 am

  USD/CAD flat on Friday in pre-holiday trading

  

  The US Dollar is recovering from a selloff on Friday, while the Canadian dollar briefly rallied to a 19-week high. The USD/CAD pair is expected to record its fifth weekly decline in six straight weeks. The Canadian dollar is struggling to catch bids as economic data from Canada points towards …

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• 22 December 2023 11:28 pm

  EUR/USD abandons recent rally as markets retreat dollar’s selloff

  

  The EUR/USD pair reached an 18-week high on Friday, but slipped back towards 1.1000 as markets wind up operations before heading into the holiday break. The US dollar is declining as investors anticipate rate cuts due to slowing inflation in the US. The Core Annualised PCE Price Index for the …

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• 22 December 2023 10:35 pm

  USD/JPY rebounds post inflation data

  

  The USD/JPY pair surged to 142.60 on Friday, boosted by the Japanese Yen’s expected 2.5% increase in the National Consumer Price Index (CPI). However, the Bank of Japan remains uncertain about the future of Japanese inflation, as it remains firmly entrenched in hyper-easy monetary policy with negative interest rates, and …

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• 22 December 2023 9:51 pm

  Explainer: Does Angola’s exit mean looming rupture of OPEC?

  

  The majority of analysts interpret Angola’s recent withdrawal from OPEC as a hint that further Chinese investment is welcome. As part of a strengthening of long-standing relations, Beijing may be able to invest more in Angola’s oil and other sectors as a result of the country’s decision to exit OPEC. …

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• 22 December 2023 8:54 pm

  GBP/USD holds above 1.2700 after US inflation data

  

  The GBP/USD is holding above the 1.2700 handle after US PCE inflation settled further on Friday. UK Retail Sales grew 1.3% MoM in November, beating the forecast 0.4% and rebounding from October’s flat print of 0.0%. Annualized Retail Sales through November also gained on market forecasts, printing at 0.1% versus …

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• 22 December 2023 7:42 pm

  US Dollar pressured after Michigan expectations, PCE data

  

  The US Dollar is facing increasing selling pressure as investors are pricing in interest-rate cuts for early 2024. Markets are opting to ignore remarks and warnings from several US Federal Reserve officials, who are trying to play down expectations of upcoming cuts. As US equities have a Christmas rally, US …

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• 22 December 2023 5:38 pm

  European shares react to trade disruptions and await key U.S. inflation data

  

  At the start of trading on Friday, European stocks took a hit, primarily due to a decline in the shares of technology and sportswear companies. Investors are carefully weighing the potential impact of global trade disruptions following attacks in the Red Sea. Additionally, they await the release of crucial inflation …

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• 22 December 2023 4:49 pm

  UK’s economic shifts: GDP contracts, retail sales vary

  

  The UK shared economic updates today, and it’s a mix of news. According to the latest data from the British government on December 22nd, the Gross Domestic Product (GDP) went down by about 0.1% in the third quarter. This is a change from the first report, which initially suggested stability. …

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• 22 December 2023 3:31 pm

  Dollar strengthens its position slightly as US inflation data approaches

  

  The dollar stabilized above its lowest level in over four months on Friday, with expectations centered on the release of crucial inflation data in the United States later in the day. This data may offer insights into the potential for the central bank to cut rates in the coming year. …

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• 22 December 2023 2:15 pm

  Oil continues its weekly gains, rising 1 percent, as tension continues in the Red Sea

  

  Oil prices rose as much as 1 percent on Friday as tensions continued in the Middle East following Houthi attacks on ships in the Red Sea, although Angola’s decision to withdraw from OPEC raised questions about the cartel’s effectiveness in supporting prices. By 0409 GMT, Brent crude futures rose 86 …

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