Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 13 December 2023 1:12 am

  Market Drivers – US Session, December 11

  

  On Wednesday, all eyes will be on the Federal Reserve and Chair Powell. During the Asian session, New Zealand will disclose current account figures, and Japan will release the Tankan survey. The Producer Price Index (PPI) will provide more inflation data in the United States.On Wednesday, the Federal Reserve will …

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• 13 December 2023 12:27 am

  GBP/JPY was unable to extend its gain

  

  The GBP/JPY pair was unable to maintain its gains for longer, resulting in the formation of a bearish candlestick pattern. Despite being neutral, a drop within the Kumo might cause the pair to continue its downturn.Buyers regaining a three-month-old resistance trendline might pave the way for a test of the …

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• 12 December 2023 11:49 pm

  Gold price tumbles ahead of FOMC decision

  

  Gold price hit the daily high of $1996.73 but lost momentum post the US inflation report. The precious metal is trading around $1980 per ounce at the time of writing. The US Bureau of Labour Statistics revealed disinflation in the US, with mixed results in annual and monthly readings. Traders …

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• 12 December 2023 10:49 pm

  How does US dollar react to FOMC’s looming rate decision?

  

  The US Dollar Index is trading with losses below the 104.00 mark, with a -0.23% decline around the 103.850s mark. Investors are awaiting the Fed’s interest rate decision on Wednesday, which is expected to announce a continued pause on interest rate increases, leaving rates unchanged. So, markets anticipate the Fed …

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• 12 December 2023 10:02 pm

  American Fed government posts $314 billion deficit in November

  

  The US government recorded a $314 billion budget deficit in November, which was higher than the expected $301 deficit. The Treasury Department reported $275 billion in receipts and $589 billion in outlays. It compares to a $248 billion deficit in the same month last year.According to the Treasury Department, the …

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• 12 December 2023 9:04 pm

  GBP/USD trades flat during a volatile session as US inflation eases

  

  The GBP/USD pair is trading at 1.2556, despite a volatile session with a 90+ pip range. The US Bureau of Labour Statistics reported declining inflation, with headline dipping and core remaining stickier at 4% YoY. The UK jobs market eased, with 50K new employees added to the workforce, though wages …

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• 12 December 2023 8:10 pm

  Gold prices unchanged post-US CPI data

  

  Gold prices have increased following the release of the US CPI data, triggering cautious optimism ahead of Wednesday’s Fed’s Monetary policy decision. Gold prices found some support on Tuesday after a two-day decline, favoured by softer US yields and a weaker US dollar. Geopolitical tensions continue to grow amid news …

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• 12 December 2023 7:17 pm

  Yellen sees US economy heading toward soft landing

  

  United States Treasury Secretary Janet Yellen said on Tuesday that she sees no reason why inflation should not come down to the Federal Reserve’s target. The US Dollar Index is falling modestly on Tuesday but is off lows. It recovered ground following US inflation data and is hovering around 104.00. …

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• 12 December 2023 6:18 pm

  CPI reveals softening inflation, aligning with earlier forecasts

  

  The United States experienced a decrease in inflation, measured by the Consumer Price Index (CPI), to 3.1% on a year-over-year basis in November, according to the Tuesday report from the US Bureau of Labor Statistics (BLS). This figure is a slight dip from October’s 3.2% and aligns with market expectations. …

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• 12 December 2023 4:14 pm

  Oil rises after a Houthi attack on a tanker, and fears of excess supplies undermine gains

  

  Oil prices rose on Tuesday after a Houthi attack on a chemical tanker heightened geopolitical tensions in the Middle East, but fears of slowing demand growth and excess supplies undermined gains. A cruise missile launched from Yemen hit a commercial tanker, causing fire and damage, but no casualties. By 0915 …

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• 12 December 2023 3:44 pm

  European stocks rise ahead of US inflation data

  

  European stocks rose on Tuesday as investors took comfort from weaker-than-expected UK wage growth data and amid anticipation for a key US inflation report to be published later on Tuesday. The European STOXX 600 index increased 0.1 percent by 0814 GMT and is on track to record gains for the …

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• 12 December 2023 1:46 pm

  The Nikkei index trims its gains as interest rate hike expectations in Japan fade

  

  Japan’s Nikkei index posted modest gains on Tuesday as expectations faded for an imminent move by the Bank of Japan at its policy meeting scheduled for next week. The Nikkei ended trading on Tuesday, up 0.16 percent at 32,843.70 points, recording gains for the second day in a row. The …

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• 12 December 2023 1:10 pm

  Dollar declines amid anticipation of US inflation data

  

  The dollar fell while the yen stabilized in trading on Tuesday in Asia at a time when traders awaited inflation data in the United States and an expected series of central bank meetings. Dollar index contracts fell 0.5 percent to 145.46 yen. The two currencies have been witnessing fluctuations for …

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