Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 7 December 2023 4:54 pm

  Moody’s lowers its outlook on 8 Chinese banks to negative

  

  Moody’s lowered its outlook for 8 Chinese banks to negative from stable, after lowering Beijing’s outlook to negative. The names that were downgraded included the four largest lenders in China, namely Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank Corporation. The agency said that …

  Read More »
• 7 December 2023 3:10 pm

  Gold rises with the decline in dollar strength and anticipation of US jobs data

  

  Gold prices rose on Thursday as the dollar fell as investors looked to US jobs data that will be released later this week and may provide new clues on the Federal Reserve’s path on interest rates. Gold rose 0.3 percent to $2,030.20 an ounce by 0748 GMT. US gold futures …

  Read More »
• 7 December 2023 3:08 pm

  European stocks decline, pressured by economic slowdown fears

  

  European stocks fell on Thursday, with travel and entertainment stocks leading the losses, as investors became increasingly concerned about an economic slowdown after recent weak data. The European STOXX 600 index fell 0.3 percent by 0810 GMT, after touching the peak of more than four months yesterday, Wednesday. Data showed …

  Read More »
• 7 December 2023 1:53 pm

  China’s crude oil imports record their first year-on-year decline since April

  

  Customs data showed on Thursday that China’s crude oil imports in November fell 9.2 percent year-on-year, the first annual decline since April as high inventory levels, weak economic indicators and a slowdown in orders from independent refineries weakened demand. According to the General Customs Administration, the total imported crude oil …

  Read More »
• 7 December 2023 1:21 pm

  Euro declines as bets on interest rate cuts increase

  

  The euro fell to its lowest level in more than three weeks on Thursday as traders increased bets that the European Central Bank will begin cutting interest rates starting in March 2024, while the dollar stabilized ahead of the release of important jobs data this week. The euro fell 0.07 …

  Read More »
• 7 December 2023 12:46 pm

  Nikkei declines, tracking Wall Street as US jobs data awaits

  

  Japan’s Nikkei index fell sharply on Thursday after Wall Street fell overnight ahead of the release of key jobs data that would provide clues on how quickly the Federal Reserve (US central bank) might start cutting interest rates. The Nikkei Nikkei fell 1.76 percent to 32,858.31 points at close, with …

  Read More »
• 6 December 2023 10:17 pm

  Canada’s dollar achieves limited gains post BoC’s policy decision

  

  The Canadian dollar is experiencing limited gains on Wednesday, but is still struggling to recover lost ground after the Bank of Canada held its benchmark interest rate at 5%, in line with market expectations. The Canadian dollar is seeing a step up against most major currency blocs but remains down …

  Read More »
• 6 December 2023 10:04 pm

  US stocks trading flat post ADP data

  

  US stocks were little changed on Wednesday as investors looked to data that signaled more cooling in the labor market. The S&P 500, Dow Jones Industrial Average, and Nasdaq Composite all traded flat after the gauges closed Tuesday mixed.On Wednesday, fresh signs of softening in the labour market were brought …

  Read More »
• 6 December 2023 9:14 pm

  Oil nosedives losing over 3% in US trading hours

  

  WTI Oil is trading at 69.85 and is even expected to drop lower as US supply hits the export market. Oil looks set to sink even further as OPEC+ countries are reluctant to expand current production cuts. Brent Oil trades at $74.56 per barrel at the time of writing.The US …

  Read More »
• 6 December 2023 8:33 pm

  US dollar’s earlier gains erased post lower than expected ADP data

  

  The US Dollar Index (DXY) could potentially snap its winning streak after the ADP print, as traders believe the ADP still holds above 100,000 despite undershooting estimates. The dollar is rolling over and trading in the red due to underperforming ADP figures, which have triggered risk on equities and seen …

  Read More »
• 6 December 2023 7:38 pm

  BoC holds key interest rate at 5% as expected

  

  The Bank of Canada (BoC) opted to maintain its key interest rate at 5% on Wednesday, for the third consecutive decision, as widely expected. According to the BoC the latest data “suggest the economy is no longer in excess demand”. The tone of the statement hints at no rate hikes …

  Read More »
• 6 December 2023 4:37 pm

  Gold rises as the dollar declines, affected by US jobs data and interest rates

  

  Gold prices rose today, Wednesday, December 6, with the decline of the dollar, and US jobs data, which was weaker than expected, reinforced bets on the end of the US Federal Reserve’s monetary policy tightening cycle. Gold rose in instant transactions by 0.2% to $2,023.39 per ounce. US gold futures …

  Read More »
• 6 December 2023 2:59 pm

  European stocks rise supported by the mining sector and a rise in the German DAX index

  

  European stocks rose on Wednesday as bets increased that global interest rate hikes had peaked, with the mining sector, a beneficiary of higher metal prices, leading gains while Germany’s DAX index hit a new record high. The European STOXX 600 index rose 0.1 percent by 0809 GMT, while the German …

  Read More »