Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 12 December 2023 3:04 am

  Market Drivers – US Session, Dec. 11

  

  USD/JPY climbed above 146.00 for the second day in a row, extending the recovery from below 142.00. The Japanese yen was among the worst performers, as investors reduced the likelihood of a Bank of Japan policy change in the near term. Japan will publish the November Producer Price Index as …

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• 12 December 2023 2:54 am

  Bitcoin nosedives, faces sharp sell-off

  

  Bitcoin’s price fell sharply, nosediving by 5.67% to $41296. However, technical indicators and on-chain data indicate that Bitcoin remains strong as bulls attempt to push it back above $44,000. According to on-chain data, Bitcoin has reached its Crosby Ratio golden ratio multiplier near-term target. Above $40,000, the price has reached …

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• 12 December 2023 2:36 am

  BoE Expected To Keep Interest Rate Policy Unchanged

  

  On Thursday, the Bank of England is expected to keep interest rates unchanged and to maintain its higher-for-longer stance. UK economists believe the Bank of England will use this week’s interest rate decision to warn that borrowing costs will need to remain high well into 2024, dampening growing bets on …

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• 12 December 2023 12:36 am

  Gold prices plunge again ahead of key data, FOMC meeting

  

  Gold markets have been experiencing a decline since the start of Monday’s North American session due to increased risk appetite and anticipation of interest decisions from the Fed and the ECB. Gold futures fell -1.15%, below $1981, trading at $1980.85 per ounce at the time of writing.Earlier on the day, …

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• 12 December 2023 12:01 am

  EUR/USD is surging ahead FOMC, ECB policy meetings

  

  The EUR/USD pair is trading near 1.0764 versus earlier low of 1.0742 during the few previous hours as markets prepare for a busy trading week, whether on the data front or on the central banks’ decision-front, that includes US Consumer Price Index data, Producer Price Index data, and the FOMC …

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• 11 December 2023 10:59 pm

  Is Powell Under Pressure To Set US Interest Rate Cut Plan?

  

  Fed Chair Jerome Powell faces a challenge in keeping the US central bank’s policy plans flexible, as investors believe the cooling economy means tightening is over. The FOMC prepares for its final two-day meeting of 2023, and Powell is expected to use his press conference on Wednesday to emphasise that …

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• 11 December 2023 10:01 pm

  EUR/GBP pinned into midrange ahead of ECB, BoE policy meetings

  

  The EUR/GBP pair is currently trading near 0.8560, with the pair testing the low end but still trapped within near-term consolidation.The midweek sees a doubleheader from the BoE and the ECB, with markets focusing on press statements and investors weighing degrees of hawkishness. The pair is down a tenth of …

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• 11 December 2023 9:27 pm

  Swiss Franc edges lower amid positive market sentiment

  

  The Swiss Franc is experiencing a weakening trend in most pairs due to stronger US data, which has buoyed market sentiment. The Federal Reserve, European Central Bank, and Bank of England are all scheduled to make announcements after their meetings this week. The improved outlook for the US on Friday’s …

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• 11 December 2023 8:37 pm

  Natural Gas Prices Dropped 10% On Dismal COP28 Agreement

  

  During the US trading session, natural gas prices dropped 10%, taking over from the European session. The US Dollar is steady ahead of US CPI and the last Fed’s policy meeting for 2023. A COP28 draft agreement is set to be presented, with fossil fuels set to be reduced instead …

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• 11 December 2023 7:47 pm

  US CPI Preview: Inflation calms down adding another signal of progress

  

  On Tuesday, the US Bureau of Labor Statistics will release the most important inflation measure, the US Consumer Price Index (CPI) figures for November. Economists and researchers from some major banks forecast that the core CPI will stay constant at 4.0% YoY while the headline CPI will decrease slightly to …

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• 11 December 2023 2:22 pm

  European stocks are stable before the Fed decisions and mining companies decline

  

  European stocks were largely stable at the beginning of a week full of economic events as investors awaited the release of US inflation data and the decisions of major global central banks regarding interest rates, while the decline in metal prices led to a decline in mining company shares. The …

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• 11 December 2023 2:09 pm

  Unemployment in Türkiye falls to its lowest levels in ten years

  

  Official data showed on Monday that the unemployment rate in Turkey fell 0.5 percent on a monthly basis to record 8.5 percent in October, its lowest level in ten years after recording a decline for more than two years. The seasonally adjusted index of labor underutilization decreased by 0.5 percent …

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• 11 December 2023 1:50 pm

  Dollar rises ahead of US inflation data and the central bank meeting

  

  The dollar opened higher on Monday, with US inflation data and the Federal Reserve’s final monetary policy meeting of the year likely to determine the dollar’s movement during the week, while increasing deflationary pressures in China weighed on the yuan. The US dollar rose again above 145 yen to 145.62 …

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