Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2024

• 11 December 2024 6:58 pm

  BoC slashes rate policy by 50 basis points as expected

  

  Bank of Canada (BoC) took a decisive step on Wednesday, slashing its policy rate by 50 basis points to 3.25%. This move, widely anticipated by market analysts, aligns with the central bank’s efforts to stimulate economic growth and combat inflationary pressures. The Canadian Dollar weakened further against the US Dollar …

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• 11 December 2024 5:54 pm

  U.S. Consumer Prices Rise Slightly in November, Supporting Expectations for Fed Rate Cut

  

  U.S. consumer prices edged up slightly in November on an annualized basis, aligning with expectations and reinforcing the likelihood of another interest rate cut by the Federal Reserve next week. The Consumer Price Index (CPI) published by the Labor Department rose by 2.7% year-over-year in November, marginally higher than October’s …

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• 11 December 2024 5:06 pm

  OPEC Cuts Global Oil Demand Growth Forecast for 2024

  

  OPEC announced on Wednesday a reduction in its global oil demand growth forecast for 2024, marking the fifth consecutive downward revision in its monthly report. This adjustment reflects increasing concerns over macroeconomic challenges, including slowing global economic growth, high interest rates, and subdued industrial activity. The group also lowered its …

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• 11 December 2024 4:27 pm

  US Futures Hold Steady Ahead of Inflation Data; Crude Prices Rise on China Stimulus Hopes

  

  US stock index futures showed little movement early Wednesday, stabilizing after a decline in the previous Wall Street session, as investors await pivotal inflation data. Meanwhile, crude oil prices gained amid expectations of increased demand in China following promises of economic stimulus. Market Snapshot Dow Jones Futures: Down 65 points …

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• 11 December 2024 3:50 pm

  Bank of Canada Expected to Cut Rates Amid Economic Weakness

  

  The Bank of Canada (BoC) is widely anticipated to reduce its key policy rate by another 50 basis points on Wednesday, marking the second consecutive move of this magnitude. The decision comes as Canada grapples with weak economic growth and rising unemployment, signaling an economy in need of support, according …

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• 11 December 2024 2:33 pm

  US Dollar Strengthens on Inflation Anticipation; Euro, Sterling, and Yuan Weaken

  

  The U.S. dollar advanced on Wednesday, bolstered by market anticipation ahead of the November consumer inflation report. The greenback’s strength weighed on the euro, sterling, and Chinese yuan, with broader implications for global currency markets. Key Developments Dollar Index Rises At 05:15 ET (10:15 GMT), the Dollar Index climbed 0.3% …

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• 11 December 2024 1:23 pm

  Oil Prices Edge Higher on China’s Policy Signals and Demand Optimism

  

  Oil prices rose on Wednesday as market optimism grew regarding potential demand recovery in China, the world’s largest crude importer, following Beijing’s announcement of a significant monetary policy shift aimed at spurring economic growth. Market Overview Brent Crude Futures: Up 24 cents (0.3%) to $72.43 a barrel by 0730 GMT. …

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• 11 December 2024 12:47 pm

  European Markets Rebound in November Amid Style and Sector Shifts

  

  European markets made a recovery in November after initial selloffs following the US elections. However, with the exception of Momentum, factor performance remained subdued. Momentum Style Faces Headwinds Barclays strategists, led by Matthew Joyce, maintained a Neutral stance on Momentum in November, despite its strong post-election performance. This cautious approach …

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• 11 December 2024 3:21 am

  Market Drivers; US Session

  

  The US Dollar strengthened further on Wednesday, buoyed by rising interest rates and anticipation of the upcoming US CPI report. The Greenback’s strength was underpinned by rising Treasury yields, which reflected growing expectations for further interest rate hikes from the Federal Reserve. In the forex markets, the Euro weakened against …

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• 11 December 2024 1:33 am

  Gild prices retreat from recent highs ahead of CPI data

  

  Gold prices have seen a recent surge, reaching a two-week high driven by a combination of factors. Geopolitical tensions, trade war fears, and anticipated rate cuts by major central banks have boosted safe-haven demand for gold. However, rising US bond yields and a stronger US Dollar have capped the precious …

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• 11 December 2024 12:12 am

  Could CPI data force A Hawkish Turn for the Fed?

  

  The upcoming US Consumer Price Index (CPI) report, scheduled for release on Wednesday, December 11th, is poised to significantly influence the Federal Reserve’s (Fed) monetary policy decisions. While markets have been anticipating a 25 basis point rate cut in December, a higher-than-expected inflation reading could prompt the Fed to reconsider …

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• 10 December 2024 11:16 pm

  Dollar strengthens as inflation data looms

  

  The US Dollar Index (DXY) has exhibited remarkable strength, driven by a confluence of factors. A robust US economy, characterized by a resilient job market, strong consumer spending, and robust corporate earnings, has underpinned the dollar’s appeal. The Federal Reserve’s aggressive monetary tightening, including interest rate hikes and quantitative tightening, …

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• 10 December 2024 9:51 pm

  Australian Dollar Weakens After Interest Rate Hold

  

  The Australian dollar continued its decline, influenced by the interest rate decision announced by the Reserve Bank of Australia (RBA) in the early hours of Tuesday. The decision included keeping the interest rate unchanged at the December meeting of the Monetary Policy Committee.   The AUD/USD pair dropped to 0.6376 …

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