Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 20 December 2023 1:12 pm

  Dollar continues to rise amid expectations of interest rate cuts

  

  On Wednesday, the dollar sustained an upward trend against a basket of peer currencies as traders assessed the possibility of the Federal Reserve implementing interest rate cuts. According to the CME Group’s FedWatch tool, investors are indicating a 69 percent probability of a rate cut occurring during the Federal Open …

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• 20 December 2023 12:28 pm

  Japan’s Nikkei index closes at its highest level in 5 months

  

  Japan’s Nikkei closed at its highest level in more than five months on Wednesday, reaching 33,675.94 points, marking the highest closing level since July 3. The index rose by 1.37 percent. The broader Topix index also experienced gains, rising by 0.67 percent to reach 2,349.38 points. Investor caution over the …

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• 20 December 2023 3:23 am

  Market Drivers – US Session, December 19

  

  The Japanese Yen suffered a significant decline on Tuesday as a result of the Bank of Japan’s dovish stance. Governor Kazuo Ueda noted the challenge of articulating a plan to leave the negative interest rate policy, but the BoJ did not specify a timeline for liftoff. The USD/JPY pair first …

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• 20 December 2023 2:18 am

  Dow extends winning streak as S&P 500 approaches record gain

  

  Dow Jones and S&P 500 closed higher on Tuesday, with all three major averages on track to finish December with gains. S&P 500 is up 4.4% for the month and comes off its longest weekly winning streak since 2017. Dow and Nasdaq are up 4.5% and 5.5%, respectively. S&P 500 …

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• 20 December 2023 12:14 am

  Explainer: Short-Dated Debt Becoming More Attratctive On Wall Street

  

  The Treasury market is focusing on short-term debt with a 4%-plus yield as the Fed gears up to lower rates and support a soft landing. This sentiment is driven by the belief that the economy may avoid a recession and investors’ lack of appetite for longer-term securities. The two-year Treasury …

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• 19 December 2023 10:19 pm

  Gold eyes extending gains above $2,050.00

  

  As of writing, the price of gold has surged by 0.55% to $2,038.16 per ounce. The yield on the 10-year US Treasury note is at its lowest level since July as interest rates continue to decline. The US Core Personal Consumption Expenditures (PCE) Price Index is still the major focus. …

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• 19 December 2023 9:27 pm

  Canadian dollar surges following Canadian CPI report

  

  The Canadian dollar rose on Tuesday due to better-than-expected Canadian Consumer Price Index (CPI) inflation, which beat expectations and gave the Canadian Dollar a slight boost. The rest of the week sees a steady trickle of Canadian data heading into the holiday shutdown, including the Bank of Canada’s latest Summary …

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• 19 December 2023 8:36 pm

  How do US dollar, oil price react to current Red Sea tensions?

  

  The United States launched Operation Prosperity Guardian, a multilateral naval operation involving the United Kingdom, Canada, France, Bahrain, Norway, and Spain. Oil tycoon BP has temporarily stopped shipping any crude along the route; rival energy tycoon Shell has not yet responded.Oil PricesAttacks on commercial ships in the Red Sea have …

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• 19 December 2023 8:09 pm

  Will BlackRock Updates Push Bitcoin Higher to $45,000?

  

  Bitcoin price continued surging amid positive developments in Spot Bitcoin ETF applications. BlackRock filed an S-1 amendment, a registration statement that the SEC requires issuers to file ahead of new securities offers. On-chain researchers said that there were symptoms of anxiety among bitcoin dealers, which helped the price of BTC …

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• 19 December 2023 7:22 pm

  Fed’s Barkin: Fed will respond if inflation comes down as expected

  

  Thomas Barkin, the president of Richmond Federal Reserve Bank, stated that the Federal Reserve would “act appropriately” if inflation declines as anticipated in a Tuesday interview with Yahoo Finance.In the wake of these remarks, the US dollar finds it difficult to find demand. The US Dollar Index was down 0.35% …

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• 19 December 2023 5:44 pm

  Canada CPI inflation stays at 3.1% in November

  

  In November, inflation in Canada, as measured by the change in the Consumer Price Index (CPI), held steady at 3.1% on a yearly basis. This figure surpassed market expectations, which had anticipated a rate of 2.9%. The higher-than-expected inflation rate suggests stronger upward price pressures in the Canadian economy during …

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• 19 December 2023 4:41 pm

  Goldman Sachs: The disruption of energy flows in the Red Sea will not greatly affect oil prices

  

  Goldman Sachs said the disruption to energy flows in the Red Sea would likely not have a major impact on crude oil and liquefied natural gas prices, as opportunities to reroute ships meant production should not be directly affected. Oil prices rose on Tuesday, continuing the gains they achieved in …

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• 19 December 2023 2:36 pm

  Japanese stocks rise and the yen falls as the central bank maintains an ultra-loose policy

  

  Japan’s Nikkei rose and the yen fell on Tuesday after the Bank of Japan kept its ultra-loose monetary policy unchanged and offered no hints of an early end to negative interest rates. The Nikkei rose 1.41 percent to end Tuesday at 33,219.39. The broader Topix index compensated for an early …

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