Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 8 December 2023 11:17 pm

  Oil could rebound post further voluntary cuts

  

  As voluntary production cuts are demanded by Russia and Saudi Arabia, oil traders are expecting a recovery in the oil market. Due to gloomy weather forecasts, natural gas is trading below $2.60, while WTI oil has pared some of its weekly losses and is moving closer to $71.50. As of …

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• 8 December 2023 10:31 pm

  USD/JPY climbs back after tumbling during the previous trading session

  

  The USD/JPY pair is recovering after a steep decline on Thursday, climbing four-tenths of a percent from the day’s opening bids and looking to pare back losses. The pair is up aroung 144.836, by +0.52% at the time of writing.The US dollar traded flat against the Japanese Yen through the …

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• 8 December 2023 9:32 pm

  Stocks rise after surprise change in US unemployment

  

  After hitting a high of 4,606.31, which put it within one point of its 2023 peak, the S&P 500 stayed close to the flatline, while the Dow Jones Industrial Average gained 24 points, or 0.1%. 0.15% was added to the Nasdaq Composite. The unemployment rate unexpectedly decreased in November, from …

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• 8 December 2023 8:46 pm

  AUD/USD endures losses on strong US labour market, surging T-yields

  

  The Australian dollar (AUD) experienced a dip in its Friday trading session, trading lower at approximately 0.6580. The downward movement is attributed to robust American labor market data and escalating US yields, which drove demand to the US dollar. The US Bureau of Labor Statistics data showed an increase in …

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• 8 December 2023 7:38 pm

  US economy adds more jobs than expected in November

  

  According to data released on Friday by the Bureau of Labour Statistics, Non-farm payrolls rose by 199,000 following an unrevised 150,000 jump in October. Analysts were expecting a 180,000 increase.In November, the unemployment rate decreased slightly from 3.9% in October to 3.7%, defying predictions that it would stay the same.Average …

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• 8 December 2023 5:58 pm

  China pledges to strengthen fiscal policy to support economic recovery

  

  The top decision-making body of China’s ruling Communist Party said the country’s fiscal policy “should be moderately strengthened” to stimulate economic recovery, the state-run Xinhua news agency reported. The Politburo meeting held on Friday, chaired by Chinese President Xi Jinping, analyzed the economic work to be undertaken in 2024. The …

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• 8 December 2023 4:19 pm

  Oil prices rise, but they are heading to record weekly losses of 6%

  

  Oil prices rose by more than 1.5% during trading today, Friday, December 8th, but they are heading to record weekly losses of about 6% after falling to the lowest level in 6 months. In terms of trading, Brent crude futures rose 1.6% to $75.25 per barrel. US crude futures also …

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• 8 December 2023 3:22 pm

  Japan’s Nikkei records its largest weekly losses since mid-September

  

  The Japanese Nikkei index fell at the end of the trading session on Friday, December 8th, and recorded its largest weekly losses since mid-September. At the end of the session, the Nikkei index fell by about 1.68% to 32,307 points, recording weekly losses of 3.36%, but it is still up …

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• 8 December 2023 2:19 pm

  Gold is on its way to its first weekly decline in a month ahead of US data

  

  Gold is heading towards recording its first weekly decline in four weeks after the rise of the dollar, but prices stabilized on Friday as markets awaited key data on US jobs for signs that the Federal Reserve may cut interest rates in early March. Gold increased 0.1 percent to $2,030.32 …

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• 8 December 2023 12:57 pm

  Yen continues to rise on BoJ’s signs to change policy

  

  The yen continued its sharp rise on Friday and is on track to record its best weekly performance against the dollar in nearly five months, with traders’ expectations increasing that Japan will soon end its ultra-easy monetary policy. A generally stronger yen capped the dollar’s rise, which remained in a …

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• 8 December 2023 2:45 am

  Market Drivers – US Session, Dec. 7

  

  The key event on the economic calendar will be the US official employment report. Before that, during the Asian session, Japan’s data is due, including GDP, current account, and the trade balance. The Bank of England will publish the Consumer Inflation Expectation survey.Economic DataData released on Thursday showed that Initial …

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• 8 December 2023 2:36 am

  EUR/GBP exhibits mixed performance amid Eurozone GDP miss

  

  The EUR/GBP pair has drawn tight as both currencies mix on Thursday. The Euro remains steeply off of recent highs against the Pound Sterling. The Euro is lacking momentum after a miss on Eurozone GDP.The EUR/GBP has been trading in a tight range through the week just above 0.8550 after …

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• 8 December 2023 12:28 am

  GBP/JPY drops to eight-week low on bearish BoJ comments

  

  Following BoJ Ueda’s remarks, the GBP/JPY pair fell, trading at 180.69 after hitting an eight-week low at 178.53. Technical change to bearish; additional confirmation will come from a daily close at roughly 181.80.The BoJ Governor Ueda’s remarks caused the GBP/JPY to fall by more than 2.30%. The pair eventually reached …

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