Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 21 December 2023 9:51 pm

  Swiss Franc climbs to four-month high against US dollar

  

  The Swiss Franc is testing higher ground against the US Dollar on Thursday, as risk appetite increases due to lower US inflation data. The USD/CHF pair slipped through the 0.8600 handle, bolstering all major currencies and lifting the Swiss Franc into a new twenty-week high against the dollar. The US …

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• 21 December 2023 8:35 pm

  US Stocks recover after worst day since October

  

  Following the largest day sell-off in months for the main indexes, US equities rose early on Thursday. The S&P 500 surged by roughly 0.8% at the start of trading, recovering from the benchmark index’s largest one-day drop since October. Following the end of nine-day winning streaks, the teach-heavy Nasdaq Composite …

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• 21 December 2023 7:57 pm

  AUD/USD benefits from softer US dollar following US GDP data

  

  The AUD/USD pair experienced an upward spike of 0.70% as it rose towards the 0.6775 level. The US’s Q3 GDP growth was lowered down from 5.2% to 4.9%, reflecting a slower-than-expected rate of economic activity.The US dollar was under further pressure after the 5-year and 10-year US Treasury rates fell …

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• 21 December 2023 7:16 pm

  Euro extends gains following downbeat US GDP data

  

  The Euro has jumped to 1.1000 following the final US GDP that appears disappointing. US economic growth revised down to 4.9% in the third quarter from the previous 5.2% estimation.The focus is now on the looming US PCE Price Index which investors eagerly await to get more direction on the …

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• 21 December 2023 3:20 pm

  Dollar stabilizes and sterling faces pressure as focus shifts to US inflation

  

  On Thursday, the dollar steadied, while the pound experienced losses in light trading activity during the holiday season. Market participants are anticipating the release of crucial year-end data—the U.S. inflation figures scheduled for Friday. The pound faced significant losses against the dollar, marking its most substantial decline in two months …

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• 21 December 2023 2:41 pm

  Brent approaching $80 after a record increase in US inventories

  

  Oil prices stabilized on Thursday, with Brent trading close to $80 a barrel, despite concerns about disruptions in global trade and rising inventories in the United States. As of 0914 GMT, Brent crude futures saw a modest increase of 13 cents, or 0.1 percent, reaching $79.80 per barrel, while US …

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• 21 December 2023 1:50 pm

  European stocks decline due to losses in the auto and real estate sectors

  

  European stocks experienced a decline on Thursday, particularly within the real estate and auto sectors, following a sharp sell-off on Wall Street in the previous session. Investors, in anticipation of more economic data from the United States, sought additional indicators on the trajectory of global interest rates. As of 0817 …

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• 21 December 2023 12:26 pm

  Gold rose after the decline in USD boosted demand

  

  Gold prices saw an increase on Thursday, receiving support from a decline in the dollar and lower US Treasury bond yields. Traders, meanwhile, awaited US economic data to gain further insights into the Federal Reserve’s monetary policy expectations. Spot gold rose by 0.4 percent to reach $2,036.60 per ounce as …

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• 21 December 2023 11:59 am

  Japan’s Nikkei declines, tracking Wall Street

  

  Japan’s Nikkei index experienced a decline on Thursday, influenced by a significant sell-off on Wall Street and a notable drop in Toyota’s shares due to a growing safety concern within its Daihatsu Motor unit. The Nikkei closed at 33,140.47 points, reflecting a decrease of 1.59 percent. Among the 225 listed …

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• 21 December 2023 11:44 am

  Oil is heading to end its winning streak as US inventories rise

  

  Oil prices experienced a decline on Thursday, potentially halting a three-day winning streak. Concerns about reduced demand emerged following an unexpected surge in US crude inventories, overshadowing worries about global trade disruptions due to tensions in the Middle East. As of 0303 GMT, Brent crude futures saw a decrease of …

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• 21 December 2023 1:26 am

  Market Drivers – US Session, December 20

  

  The US Dollar rose on Wednesday, supported by US economic data and a slight deterioration in market sentiment as well as hawkish remarks by Fed’s Patrick Harker on the rate policy outlook.Holiday-linked rally was paused, with Wall Street’s main indexes about to end a five-day positive streak on profit taking. …

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• 21 December 2023 1:19 am

  Hawkish remarks by Fed’s Harker benefit the US dollar

  

  The USD was not greatly affected by the Wednesday’s US home data, but the DXY Index recorded gains of 0.35% per day after Fed’s Harker commented that the bank won’t cut rates right away.Philadelphia Federal Reserve President Patrick Harker has expressed his opposition to further US central bank interest rate …

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• 21 December 2023 1:04 am

  G7 Tightens Oil Price Cap Enforcement, Sanctioning Russian Oil

  

  The US and Western allies have imposed sanctions on oil shippers and traders who have been helping Russia bypass price restrictions. Since a price cap on Russian oil was set last year, Moscow has developed a shadow fleet of tankers and found alternative insurance and financing options, enabling it to …

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