Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 2 November 2023 1:36 pm

  European stocks rise on a boost from bets on stopping interest rate hikes

  

  European stocks rose on Thursday, driven by the rise in real estate and technology stocks affected by interest rates, as investors bet on the possibility of the end of monetary tightening policy in the United States after the Federal Reserve kept interest rates unchanged. The European STOXX 600 index rose …

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• 2 November 2023 6:33 am

  NFP Preview: Market Focus Shifts to US Employment Situation

  

  On Friday morning, all eyes will be on Wall Street as the U.S. Bureau of Labor Statistics releases its latest employment survey. This report carries significant weight, as it can potentially influence the Federal Reserve’s monetary policy outlook. As a result, the market will likely experience heightened attention and scrutiny, …

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• 1 November 2023 11:41 pm

  Wall Street holds gains amid choppy trading post-FOMC decision

  

  The S&P 500 largely maintained its gains on Wednesday, despite choppy trading as Federal Reserve Chair Jerome Powell kicked off his press conference. The US central bank had, as anticipated, kept interest rates unchanged while praising the strength of the economy.In a policy statement that acknowledged the unexpected strength of …

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• 1 November 2023 11:10 pm

  Powell: Fed close to the end of tightening cycle

  

  Federal Reserve Chairman Jerome Powell holds a news conference to explain why they have decided to leave the policy rate, federal funds rate, unchanged at the range of 5.25-5.5% meeting and responds to questions.Key Quotes“‘Dot plot is a picture in time of appropriate policy in light of policymakers’ personal views.”“Efficacy …

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• 1 November 2023 10:20 pm

  FOMC’s statement: Inflation remains elevated

  

  Recent data suggests that economic activity expanded at a strong pace in the third quarter, according to the FOMC statement released on Wednesday, Nov. 1, following the committee’s decision to leave interest rate policy unchanged. The following FOMC members voted in favour of the monetary policy decision: Philip N. Jefferson, …

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• 1 November 2023 10:03 pm

  FOMC keeps rate policy unchanged in line with expectations

  

  As expected, the Federal Reserve policymakers decided to leave US policy rate unchanged at the range of 5.25%-5.5% for the second consecutive time. The decision has just been announced and FOMC Chairman Jerome Powell will speak on the policy outlook and respond to questions in the post-meeting press conference, starting …

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• 1 November 2023 9:48 pm

  Gold fails to hold recent gains ahead of FOMC decision

  

  Near midday, ahead of the Federal Reserve’s meeting to set monetary policy, gold prices were marginally higher. Gold fell by 0.23% from the previous closing price, or $4.50.The Federal Reserve and Bank of England’s central bank meetings are the focus of the market, with most observers projecting that the FOMC …

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• 1 November 2023 9:22 pm

  US dollar leaps to daily highs ahead of awaited FOMC decision

  

  On Wednesday, the US dollar reached a level not seen in almost a month as the DXY Index surged by 0.30%. The US dollar is supported by cautious market sentiment ahead of the Federal Reserve’s policy decision, even in the face of weak US economic data and declining US bond …

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• 1 November 2023 8:01 pm

  Sterling recovers post weaker US data

  

  Weak US economic data has caused the Pound Sterling to rise vertically, increasing market risk appetite. Investors are still awaiting significant monetary policy announcements from the Bank of England and the US Fed, though. The GBP/USD exchange rate is still tense because investors believe the BoE will maintain current interest …

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• 1 November 2023 7:39 pm

  Bitcoin Price swings below $35000 amid $100 million liquidation

  

  After a few days of relatively low volatility, the price of the most famous cryptocurrency has headed north once again, surpassing the coveted level of $35,000, before plunging down below it almost immediately. Bitcoin is trading at $34243 at the time of writing. Somewhat expected, the move resulted in millions …

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• 1 November 2023 7:03 pm

  US: ISM Manufacturing PMI for October worsened

  

  ISM Manufacturing PMI worsened unexpectedly to 46.7 in October. The US Dollar Index is trimming its gains, retreating from 107.00.The US Dollar Index pulled back modestly after the ISM and the JOLTS report, retreating from 107.00 to 106.85. It was still up for the day. Now attention is set on …

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• 1 November 2023 6:13 pm

  US JOLTS Job Openings rise to 9.55 million in September

  

  The US Bureau of Labor Statistics (BLS) has reported a total of 9.55 million job openings on the last business day of September, exceeding market expectations of 9.25 million. This figure, slightly higher than the revised August number of 9.49 million (initially reported as 9.61 million), was highlighted in the …

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• 1 November 2023 6:01 pm

  US private sector employment rises 113,000 in October

  

  According to data released by Automatic Data Processing (ADP) on Wednesday, private sector employment in the US saw a modest increase of 113,000 jobs in October. This figure, although below market expectations of 150,000, marks a slight improvement from the 89,000 jobs added in September. Analyzing the survey results, Nela …

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