Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 20 December 2023 7:57 pm

  US CB Consumer Confidence Index Beats Expectations

  

  The US CB Consumer Confidence Index rose to 110.7 in December, indicating a significant improvement in consumer sentiment. The report also revealed that the Present Situation Index rose to 148.5, and the Consumer Expectations Index advanced to 85.6. The one-year consumer inflation rate expectation edged lower to 5.6%. The US …

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• 20 December 2023 7:17 pm

  US Existing Home Sales Unexpectedly Rise 0.8% In November

  

  US existing home sales unexpectedly rose in November, to seasonally adjusted annual rate of 3.82 million units, ending five consecutive monthly decreases, according to the National Association of Realtors. Further gains could be limited by a chronic shortage of houses on the market. Home resales, accounting for a large portion …

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• 20 December 2023 4:54 pm

  UK CPI inflation softens to 3.9% in November

  

  According to the latest data released by the Office for National Statistics (ONS), the United Kingdom’s Consumer Price Index (CPI) recorded a 3.9% year-on-year increase in November. This figure represents a slight deceleration from the 4.6% rise observed in October, and it falls below market expectations of a 4.4% acceleration. …

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• 20 December 2023 3:32 pm

  European stocks rise amid expectations of interest rate cuts

  

  European shares saw an uptick on Wednesday, driven by anticipations of interest rate cuts following data indicating a slowdown in inflation in both Britain and Germany. Additionally, a surge in commodity prices contributed to gains in resource stocks. The STOXX 600 index recorded a 0.3 percent rise by 0818 GMT, …

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• 20 December 2023 2:46 pm

  Oil rises as traders focus on navigation developments in the Red Sea

  

  Oil prices experienced a notable surge on Wednesday, following a more than one percent increase in the previous session, driven by concerns over global trade disruptions and heightened geopolitical tensions in the Middle East. The catalyst for this upswing was the recent series of Houthi attacks on ships in the …

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• 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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