Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 3 November 2023 3:22 am

  Market Drivers – US Session, Nov. 2

  

  The US Dollar lost ground on Thursday due to economic data from the US, which showed Initial Jobless Claims rose to the highest level in seven weeks and Continuing Claims reached the highest since April. The US official employment report is expected to show an increase of 180,000 jobs, with …

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• 3 November 2023 3:16 am

  Apple reports record earnings quarter

  

  With iPhone revenue up year over year, Apple reports record earnings quarter, on Thursday, even with just a week or so of iPhone 15 sales factored into the numbers. However, all of the company’s other hardware divisions were down, and overall sales were down for the fourth consecutive quarter. The …

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• 3 November 2023 2:28 am

  US Dollar declines ahead of October’s NFP

  

  The Dollar Index fell for the day to 106.15, a decrease of 0.50%. In line with the current risk-on trend, US government bond yields are also falling while Wall Street indexes are rising.Market participants are now concentrating on Friday’s Nonfarm Payrolls report for October. Following Wednesday’s decision and Chair Powell’s …

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• 3 November 2023 12:22 am

  White House sets the scene for Xi-Biden talks via Yellen’s speech

  

  The White House is preparing for President Biden’s APEC summit and meeting with Chinese President Xi Jinping. Biden aims to emphasize economic ties with China’s neighbors and China, signaling that relations don’t have to be defined by conflict. The White House aims to convince other Indo-Pacific countries that the US …

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• 2 November 2023 10:55 pm

  WTI rallies above $82 on risk appetite

  

  WTI crude oil gained 2.07% on Thursday as the US dollar declined. WTI is trading at $82.23 per barrel at the time of writing. Despite a potential hawkish retreat, investors respond favourably to the Federal Reserve’s decision to maintain interest rates unchanged. The Fed reiterated its commitment to reducing excessive …

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• 2 November 2023 9:23 pm

  Shopify stock surge 20% as earnings beat

  

  Shopify, a Canadian e-commerce company, reported strong Q3 results that beat expectations and provided upbeat guidance for the remainder of the year. The company’s earnings per share were 24 cents adjusted compared to 14 cents expected, and revenue was $1.71 billion compared to $1.67 billion expected. Shopify expects 2023 revenue …

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• 2 November 2023 8:45 pm

  T-yields continue to decline post Fed’s interest rate pause

  

  Treasury yields are experiencing a downtrend following the Fed’s decision to continue with a rate pause following its November FOMC meeting. The 10-year yield dropped over 10 basis points, suggesting that market participants are pricing in a Fed likely done with policy hiking. The US yield curve has been well …

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• 2 November 2023 7:20 pm

  Gold holds to recent gains post Fed’s decision

  

  Gold price clings to gains prompted by paused monetary policy from the Fed. Weak US private payrolls and factory data have diminished the appeal of the US dollar. The release of the US NFP would guide further action on the precious metal.As of this writing, gold is trading at $1983.50. …

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• 2 November 2023 5:21 pm

  Turkish Central Bank raises its forecast for the inflation rate to 36 percent

  

  Turkish Central Bank Governor Hafizah Ghaya Arkan said on Thursday that the bank raised its forecast for the inflation rate by the end of the year to 65 percent from 58 percent, and also raised its forecast for inflation by the end of 2024 to 36 percent from 33 percent. …

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• 2 November 2023 3:38 pm

  Gold rises as the dollar and Treasury yields decline

  

  Gold prices rose on Thursday, supported by a decline in the dollar and Treasury bond yields, amid increasing investor bets that the Federal Reserve may have reached the end of its cycle of raising interest rates after keeping them unchanged. By 0924 GMT, gold in spot transactions rose 0.3 percent …

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• 2 November 2023 2:31 pm

  Dollar declined after the US interest rate decision and eyes on BoE

  

  The dollar was generally lower on Thursday, with risk-sensitive Asia-Pacific currencies leading gains as investors became increasingly convinced that US interest rates may have peaked after the Federal Reserve kept them unchanged. The focus now turns to the Bank of England and whether it will make the same move on …

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• 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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