Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 27 November 2023 2:57 pm

  Lukewarm performance for European stocks

  

  European stocks were steady on Monday as lower oil prices led to a decline in energy stocks, ahead of comments by European Central Bank President Christine Lagarde on monetary policy before a European Parliament committee. The European Stoxx 600 index remained stable at 0820 GMT, while the British Financial Times …

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• 27 November 2023 1:59 pm

  The British pound rose and the dollar fell as traders awaited new economic signals

  

  The pound sterling rose to its highest level in more than two months against the dollar on Monday, although some risk aversion limited the US currency’s losses, with traders awaiting new economic signals next week to determine the course of monetary policy regarding future interest rates. The current week is …

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• 27 November 2023 12:56 pm

  Brent crude falls towards $80 per barrel ahead of the OPEC+ meeting

  

  Oil prices experienced a decline on Monday, with Brent oil futures edging closer to $80 per barrel as investors awaited the OPEC+ group meeting scheduled for this week to determine the extent of production cuts in 2024. As of 02:31 GMT, Brent crude futures dropped by 37 cents, or 0.5 …

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• 27 November 2023 11:53 am

  Gold jumps to its highest level in 6 months

  

  Gold prices surged to a six-month high in current trading, buoyed by the decline of the US dollar. The ongoing belief that the Federal Reserve has completed its interest rate hike cycle further contributed to the positive momentum in the precious metal. Investors are closely watching US inflation data scheduled …

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• 27 November 2023 7:23 am

  Financial Markets’ Weekly Recap

  

  Data from the German statistics office confirmed on Friday that the country’s economy contracted slightly in the third quarter compared to the previous three months. The initial estimate, published in late October, indicated a contraction of 0.1 percent, which has now been substantiated. Ruth Brand, head of the Statistics Office, …

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• 25 November 2023 1:55 am

  Market Drivers – US Session, Nov. 24

  

  The US dollar experienced losses in a shortened week, with the Core PCE report being the most important. The US economy is stronger than that of European nations and is still growing, with the US Composite reported at 50.7 in recent PMIs. Weekly gains in EUR/USD were observed, but the …

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• 25 November 2023 12:59 am

  Oil settles lower, but records weekly gain

  

  Oil prices fell on Friday due to the release of hostages in Gaza, but prices gained their first week of gains in over a month ahead of the OPEC+ meeting to decide on production cuts in 2024. Brent crude futures settled down 84 cents at $80.58 a barrel, while American …

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• 24 November 2023 11:46 pm

  EUR/USD looks forward to climb over 1.0950

  

  The EUR/USD pair is experiencing a broad-market risk rally to close out the trading week, with market sentiment seeing a late break. US PMI data came in mixed, softening the US Dollar. The EUR/USD is trading into the 1.0950 level as the trading week winds up, with markets set for …

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• 24 November 2023 10:35 pm

  US dollar set to close with second straight weekly loss

  

  The DXY Index fell to 103.45, a 0.30% loss, and the index is expected to experience a 0.30% weekly loss. S&P PMIs showed mixed economic outlook, with the manufacturing sector weakening and the service sector expanding. The US economy is showing signs of cooling inflation and job creation, and soft …

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• 24 November 2023 9:50 pm

  European stocks rise on improved business sentiment

  

  Although a series of indicators issued by the German Ifo Institute recorded levels below expectations, they were able to support stocks on the European stock exchanges on Friday because the recent figures were higher than previous readings.The Ifo Business Climate Index for Germany, corporate confidence, rose 87.3 points this November …

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• 24 November 2023 8:47 pm

  Gold find demand after mixed S&P PMIs

  

  The Gold Index is surging to $2000. Following mixed S&P PMIs, the US dollar declined. Increased US interest rates could restrict the precious metal’s growth. Profiting from mixed S&P PMIs and a declining US dollar, gold is gaining ground on Friday. The pair, which is often known as the price …

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• 24 November 2023 7:28 pm

  US dollar reacts to declining Manufacturing PMI, rising Services PMI

  

  The flash estimate for November showed the US S&P Global Composite PMI remained stable at 50.7.The US Dollar Index was last trading slightly lower on the day at roughly 103.50, showing no immediate reaction to these data. The US Dollar Index remains below 100, hovering around 103.50. The economic activity …

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• 24 November 2023 5:30 pm

  Dollar declines in limited deals with expectations that interest rates will reach their peak

  

  The dollar fell on Friday as investors bet that US interest rates had peaked, while the yen rose after Japan’s core consumer prices grew, boosting expectations that the Bank of Japan may soon roll back monetary stimulus. With US markets closed on Thursday due to the Thanksgiving holiday and a …

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