Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 1 December 2023 11:50 am

  Oil prices continue to decline after lower-than-expected cuts in OPEC+ production

  

  Oil prices fell in early Asian trading on Friday, continuing the losses that began after producers in the OPEC+ alliance agreed to voluntary reductions in oil production in the first quarter of next year, which were reductions that fell below market expectations. Brent crude futures for February fell 14 cents, …

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• 1 December 2023 11:21 am

  Gold is heading for gains for the third week

  

  Gold prices are heading for a third straight week of gains on Friday after data showing a slowdown in inflation reinforced bets on a cut in interest rates in the United States, while traders await comments from Federal Reserve Chairman Jerome Powell later on Friday. Gold rose in spot transactions …

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• 1 December 2023 2:04 am

  US dollar rises after key data, ahead of Powell’s speech

  

  The Dollar Index has seen a positive pace, trading with gains of 0.60% near the 103.50 area. The Fed is not ruling out further policy tightening, hinting at a moderately hawkish stance. This is due to officials balancing the costs of doing too little and doing too much, as economic …

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• 1 December 2023 1:13 am

  Gold still above $2035, but with losses

  

  The XAU/USD is trading around $2035 with a 0.40% loss, following the release of the US’s October Personal Consumption Expenditures (PCE) figures. The figures aligned with expectations, reinforcing the Federal Reserve’s stance on inflation. The headline figure dropped to 3% YoY, while the core measure increased to 3.5% YoY. The …

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• 1 December 2023 12:15 am

  Euro nosedives following France’s Q3 contraction

  

  The final GDP for France’s third quarter fell by 0.1% from the preliminary estimate, and the euro is currently trading at 1.0893. The preliminary CPI for France in November was +3.4%, suggesting that rate cuts in the Eurozone might occur sooner rather than later. This is because the economy is …

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November, 2023

• 30 November 2023 10:40 pm

  Crude oil declines following voluntary output cuts by OPEC+

  

  The OPEC+ coalition, led by Saudi Arabia and Russia, has announced plans for a 1 million barrel cut to daily production, along with an extension of an earlier cut of equal size.Oil prices fell after rising by over 1% earlier in the session after OPEC+ oil producers agreed to voluntary …

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• 30 November 2023 9:56 pm

  Dow closes a strong November rally, rises to a new high for 2023

  

  The Dow Jones Industrial Average has celebrated its best month since October 2022 on Thursday, when gain has hit a new high for the year thanks to Salesforce’s earnings and declining inflation data. The Dow of 30 stocks rose 291 points, or almost 0.8%, above its previous peak set in …

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• 30 November 2023 8:36 pm

  US Dollar peaks on Chicago PMI reading

  

  The US dollar trades in the green against all major currencies. US traders are seeing PCE confirming sticky pace of inflation. The US Dollar Index climbs above 103 and could still flip this week’s overall performance into positive territory. The dollar bulls are being back by Wednesday and Thursday’s data …

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• 30 November 2023 7:51 pm

  Pending Home Sales in the US declined less than expected in October

  

  US Dollar Index stays in the positive territory around 103.40. Pending Home Sales in the US rose 1.1% in October.On Thursday, the National Association of Realtors reported this reading followed a 1% increase recorded in September (revised from 1.1%) and came in better than the market expectation for a decrease …

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• 30 November 2023 5:26 pm

  Eurozone Preliminary HICP inflation softens to 2.4% YoY in November

  

  The Eurozone Harmonised Index of Consumer Prices (HICP) rose by 2.4% on an annual basis in November, marking a decrease from October’s 2.9% increase, according to official data published by Eurostat on Thursday. This figure fell short of market expectations, which anticipated a 2.7% print. In November, Core HICP inflation …

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• 30 November 2023 4:38 pm

  Dollar rises from its lowest levels in 3 months

  

  The dollar rose from its lowest level in three months on Thursday, but it is still on track to record the largest monthly decline in a year, as investors increase bets that the Federal Reserve (the US central bank) has finished raising interest rates, before the release of a decisive …

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• 30 November 2023 3:15 pm

  Oil is stable as the market awaits the OPEC+ meeting

  

  There was little change in oil prices on Thursday, as investors continued to remain cautious ahead of expected production cuts from the OPEC+ alliance, while Chinese factory data showed slowing growth in the world’s second-largest economy. By 0740 GMT, Brent crude futures increased 13 cents, or 0.2 percent, to $83.23 …

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• 30 November 2023 1:22 pm

  European stocks rise thanks to mining and energy companies ahead of key inflation readings

  

  European stocks rose on Thursday, led by mining and energy stocks, as investors awaited headline inflation levels in the United States and the euro zone that could support expectations of global interest rates peaking. The European STOXX 600 index rose 0.1 percent by 0810 GMT, achieving its largest monthly gain …

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