Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 20 November 2023 2:06 pm

  Nikkei falls from 33-year high after sharp gains spark caution

  

  Japan’s Nikkei index rose to its highest level in more than three decades on Monday before changing course and closing lower as investors remained wary of the index’s recent significant gains. The Nikkei fell 0.59 percent to 33,388.03 points at the close, after earlier rising to its highest level since …

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• 20 November 2023 1:20 pm

  Oil consolidates its gains and OPEC+ is considering reducing production further

  

  Oil futures rose on Monday, continuing their gains based on expectations that the OPEC+ group will reduce supplies further to support prices that have been declining for four weeks due to waning fears of disruption to Middle East supplies due to the war between Israel and the Palestinian Hamas movement. …

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• 20 November 2023 2:50 am

  Financial Markets’ Weekly Recap, November 13-17

  

  The US dollar has experienced its worst week since July 2023, with negative momentum dominating the market. Next week will be shorter in the US due to Thanksgiving. US – China Talks US President Joe Biden and Chinese counterpart Xi Jinping had a positive conversation about climate change and improving …

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• 18 November 2023 3:44 am

  Market Drivers – US Session, Nov. 17

  

  The US dollar experienced its most significant drop in one week since May, with negative momentum dominating. Next week will be shorter in the US, with the preliminary November PMIs being the important economic report to keep an eye on. The Fed will publish the minutes of its most recent …

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• 18 November 2023 2:31 am

  Dollar closes worst week since July on interest rate path bets

  

  The DXY Index has fallen by around 0.40%, marking a 1.60% weekly decline. The Fed’s hawkish stance on the matter is attributed to the cooling inflation and labour market conditions, which have led to the US Dollar’s decline. The US Bureau of Labor Statistics reported that October’s Core Consumer Price …

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• 17 November 2023 11:57 pm

  Oil surges on Saudi plan to extend output cuts

  

  US and international oil prices jumped on Friday by more than 4% after a week-long slump. Saudi Arabia is considering prolonging production cuts into 2024, the Financial Times reported. WTI crude is trading at $76.02 per barrel at the time of writing.OPEC+ is set to convene in Vienna on November …

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• 17 November 2023 10:43 pm

  Treasury yields slide amid bets on Fed’s expectations

  

  On Friday, US Treasury yields slipped further as markets are busy gauging whether the US central’s recent campaign of interest rate hikes has reached its peak following a week of soft inflation data. The 2-year Treasury yield, which is highly sensitive to rate expectations, had dropped by 4 basis points …

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• 17 November 2023 9:30 pm

  GBP/USD Struggles for gains despite risk-on pulse

  

  The GBP/USD is trading flat but but erratic as it attempts to stay above the 1.2400 handle. The midweek rally in the Pound Sterling remains vulnerable as markets pare back gains. The GBP is consolidating due to weak UK data.As the pair struggles to break above the upper end of …

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• 17 November 2023 8:27 pm

  Gold’s gains pared after Fed speakers’ hawkish comments

  

  The Gold Index, XAU/USD, advanced to $1,980 after hitting $1,995 earlier in the North American session.US housing data for October surprised to the positive side. Notably, the most recent spike in the price of precious metal was suppressed by hawkish Fed speakers and rising US yields.Gold saw a minor increase …

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• 17 November 2023 7:51 pm

  UK’s Hunt: The British economy has passed a dangerous turning point

  

  Jeremy Hunt, the British Finance Minister, pledged on Friday not to take any action that would “hinder the battle against inflation” amid calls for more significant tax cuts from the right wing of the Conservative Party.“The UK economy has crossed a dangerous turning point in the recent period after the …

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• 17 November 2023 6:12 pm

  Oil prices react to EU sanctions and global demand fears

  

  Crude oil prices experienced an uptick on Friday, fueled by speculations of impending European Union sanctions against Russia. Meanwhile, the US dollar faced a decline, displaying a form of correlation. While Friday’s trading witnessed a marginal increase, oil prices are on course for their fourth consecutive weekly downturn after touching …

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• 17 November 2023 5:12 pm

  Gold’s weekly outlook: stability amid Fed speculation and Dollar dynamics

  

  Gold exhibited stability during Friday’s trading on the seventeenth of November, poised to secure weekly gains amid heightened investor speculation surrounding the conclusion of the US Federal Reserve’s monetary tightening cycle. Continuing its upward trajectory, the price of gold tested its highest point in eight days, nearing the $1990 mark. …

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• 17 November 2023 11:33 am

  Oil prices are heading for the fourth consecutive week of decline

  

  Oil prices are heading for a fourth consecutive week of decline, and remained little changed in early Asian trading after falling by about five percent to the lowest level in four months yesterday, Thursday, amid concerns about global demand. Brent crude futures rose ten cents, equivalent to 0.1 percent, to …

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