Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 25 December 2023 9:02 pm

  How have US stocks performed amid Santa rally’s onset?

  

  After five straight record closing, US stocks saw a slight decline; however, all three major US indexes ended the day down. Wall Street was expecting the Santa Rally to push markets to new heights as they finish 2023 on a high note. With a 24% increase so far this year, …

  Read More »
• 25 December 2023 4:17 pm

  A Recap of Global Oil Markets in 2023 and Anticipated Trends for 2024

  

  In 2023, the global oil markets underwent a transformative journey, shaped by a confluence of factors ranging from the lingering impacts of the COVID-19 pandemic to geopolitical events such as Russia’s invasion of Ukraine. This tumultuous backdrop precipitated a realignment of benchmark crude oil prices, reshaping global trade flows and …

  Read More »
• 25 December 2023 1:42 pm

  Russia: We will start buying foreign currencies if the price of oil ranges between 88 and 90 dollars per barrel

  

  The head of the Russian Central Bank, Elvira Nabiullina, revealed in an interview with Russian media that the bank is poised to initiate the purchase of foreign currencies if oil prices reach the range of $88 to $90 per barrel. She further indicated that the bank will persist in selling …

  Read More »
• 25 December 2023 11:06 am

  Japan’s Nikkei index closed higher amid expectations of a cut in interest rates

  

  On Monday, Japan’s Nikkei index closed higher, buoyed by the prospect of interest rate reductions in the United States, which also contributed to gains in the Standard & Poor’s 500 and Nasdaq indices at the conclusion of the previous week’s trading. However, shares of shipping companies experienced a decline due …

  Read More »
• 25 December 2023 8:34 am

  Financial Markets’ Weekly Recap

  

  European stocks closed on a weak note on Friday as weaker-than-expected US inflation data offset losses in sportswear makers and stocks exposed to China, just ahead of the Christmas holiday. The European STOXX 600 index edged up by 0.1 percent, marking gains for the sixth consecutive week in a streak …

  Read More »
• 23 December 2023 2:20 am

  Market Drivers – US Session, Dec. 22

  

  The Dow Jones reached all-time highs, while US Treasury yields moved lower. The 10-year settlement was around 3.90%, the lowest since July. The US Dollar Index fell for the second week in a row, falling to monthly lows below 102.00. Market repricing expectations from the Fed in 2024 keep the …

  Read More »
• 23 December 2023 2:07 am

  Gold steadies above $2053 after flirting $2070 post PCE data

  

  As of this writing, the price of the precious metal pulled back to about $2053 after briefly rallying up to flirt $2,070 before Friday’s pre-holiday closing. Gold is being pressured higher by growing investor bets on quicker, more frequent Fed rate cuts.US inflation is still down, and Treasury yields are …

  Read More »
• 23 December 2023 12:50 am

  S&P 500 on track for eighth-straight winning week

  

  The S&P 500 increased on Friday in response to lower inflation figures, and Wall Street was hoping to continue its year-end rally as the major averages were headed for their eighth consecutive winning week. The Nasdaq Composite increased by 0.16%, while the Dow Jones Industrial Average dropped 10 points, or …

  Read More »
• 23 December 2023 12:05 am

  USD/CAD flat on Friday in pre-holiday trading

  

  The US Dollar is recovering from a selloff on Friday, while the Canadian dollar briefly rallied to a 19-week high. The USD/CAD pair is expected to record its fifth weekly decline in six straight weeks. The Canadian dollar is struggling to catch bids as economic data from Canada points towards …

  Read More »
• 22 December 2023 11:28 pm

  EUR/USD abandons recent rally as markets retreat dollar’s selloff

  

  The EUR/USD pair reached an 18-week high on Friday, but slipped back towards 1.1000 as markets wind up operations before heading into the holiday break. The US dollar is declining as investors anticipate rate cuts due to slowing inflation in the US. The Core Annualised PCE Price Index for the …

  Read More »
• 22 December 2023 10:35 pm

  USD/JPY rebounds post inflation data

  

  The USD/JPY pair surged to 142.60 on Friday, boosted by the Japanese Yen’s expected 2.5% increase in the National Consumer Price Index (CPI). However, the Bank of Japan remains uncertain about the future of Japanese inflation, as it remains firmly entrenched in hyper-easy monetary policy with negative interest rates, and …

  Read More »
• 22 December 2023 9:51 pm

  Explainer: Does Angola’s exit mean looming rupture of OPEC?

  

  The majority of analysts interpret Angola’s recent withdrawal from OPEC as a hint that further Chinese investment is welcome. As part of a strengthening of long-standing relations, Beijing may be able to invest more in Angola’s oil and other sectors as a result of the country’s decision to exit OPEC. …

  Read More »
• 22 December 2023 8:54 pm

  GBP/USD holds above 1.2700 after US inflation data

  

  The GBP/USD is holding above the 1.2700 handle after US PCE inflation settled further on Friday. UK Retail Sales grew 1.3% MoM in November, beating the forecast 0.4% and rebounding from October’s flat print of 0.0%. Annualized Retail Sales through November also gained on market forecasts, printing at 0.1% versus …

  Read More »