Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 5 December 2023 12:53 pm

  Oil settles amid OPEC+ cut-linked doubts

  

  Oil prices witnessed little change on Tuesday amid uncertainty over the OPEC+ alliance’s voluntary production cuts, continued tension in the Middle East, and weak economic data from the United States. By 0402 GMT, Brent oil futures fell one cent to $78.02 a barrel, while US West Texas Intermediate crude futures …

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• 5 December 2023 1:16 am

  Oil retreats amid skepticism over OPEC+ potential output cuts

  

  Oil prices fell on Monday due to traders’ wait-and-see attitude towards OPEC and its allies’ plans to cut production in the first quarter of 2024. Fears of a drop in demand also put pressure on prices. Brent crude futures settled down 85 cents or 1.08% at $78.03 a barrel, while …

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• 5 December 2023 1:00 am

  Market Drivers – US Session, Dec. 4

  

  On a turbulent day, the US Dollar Index increased on Monday, closing at its highest level since November 23. The Greenback recovered during a reversal in commodities and higher Treasury yields, after beginning the week under pressure. Shortly before important US data, the DXY increased from around 103.00 to 103.80.The …

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• 5 December 2023 12:47 am

  What’s ahead for Bitcoin’s price after getting closer to $42,000?

  

  Investors were hoping for a spot BTC ETF approval in January over the weekend. Altcoins such as Axie Infinity’s AXS tokens, ApeCoin’s APE, and Enjin Coin’s ENJ have all seen a surge in value since the release of the GTA 6 trailer. Illuvium’s ILV token and Aptos’ APT token, which …

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• 5 December 2023 12:29 am

  RBA to maintain hawkish stance on easing pressure of global Inflation

  

  Australia’s central bank is about to restart a pause in rate hikes as new data indicates that inflation and home price growth are slowing down, supporting earlier tightening. Most economists predict that the Reserve Bank of Australia (RBA) will maintain its cash rate at a 12-year high of 4.35% on …

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• 4 December 2023 10:54 pm

  USD/JPY gains on climbing US 10-year bond yields

  

  Because of the general strength of the US dollar and high US yields, the USD/JPY is rising. The US Federal Reserve’s expected rate cut had been reassessed.A look at upcoming US data, the ISM Services PMI, and job openings on JOLTs. Although it stays below the Ichimoku Cloud (Kumo), which …

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• 4 December 2023 9:48 pm

  Canadian dollar struggles to stop further declines

  

  As the US Dollar sees a broad-market recovery on the back of renewed risk aversion, the Canadian Dollar gave up some of its gains from the previous week. On Monday, the Canadian dollar is down about 0.3 percent versus the US dollar. The Canadian Dollar is facing downside pressure as …

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• 4 December 2023 9:28 pm

  GBP/USD slipping back as Sterling loses steam

  

  The GBP/USD has fallen by nearly eight-tenths of a percent on Monday, as investors retreated into safe havens due to a global slowdown. The Pound Sterling has shed three-quarters of a percent against the US Dollar, while the rest of the FX market is facing a risk-off bid from the …

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• 4 December 2023 8:27 pm

  Why has gold abandoned all-time high?

  

  Gold price has reached an all-time high on Monday, driven by the US dollar’s decline and traders’ bets that the Fed will cut interest rates next year. Gold is trading at $2025.21 at the time of writing. Earlier on Monday, gold price surged up to 3% to $2135 per ounce, …

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• 4 December 2023 7:36 pm

  Euro Retreats to three-week lows

  

  The Euro lost ground against the US Dollar, causing it to retreat to three-week lows around the 1.0820 TERRITORY at the beginning of the trading week. However, the dollar is enjoying buying interest around 103.70, flirting with the area of multi-session tops and surpassing the key 200-day SMA. The Euro …

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• 4 December 2023 4:29 pm

  Dollar recovers some of its gains and Bitcoin exceeds $41,000

  

  The dollar rose on Monday, regaining some gains after declining for three consecutive weeks due to bets that the Federal Reserve (the US central bank) will cut interest rates soon, while Bitcoin exceeded $41,000 for the first time since early 2022. In the latest trading, the euro fell 0.1 percent …

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• 4 December 2023 3:21 pm

  European stocks decline, driven by a decline in mining and energy companies

  

  European stocks fell on Monday after strong gains last week driven by increased bets on a cut in interest rates, with mining and energy stocks falling on weak commodity prices. The European STOXX 600 index fell 0.1 percent by 0810 GMT after touching the highest level in four months on …

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• 4 December 2023 2:28 pm

  Gold retreats from all-time highs as the dollar rises

  

  Gold prices fell after rising to all-time highs earlier on Monday, but remained above the key $2,000 level supported by growing bets that the US central bank may cut interest rates early next year. Gold in spot transactions fell 0.4 percent to $2,062.80 an ounce by 0823 GMT. US gold …

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