Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 13 November 2023 5:22 pm

  USD rises to its highest level in more than a year against JPY

  

  The dollar rose to its highest level in more than a year against the Japanese yen on Monday, supported by declining expectations that the Federal Reserve (the US central bank) will cut interest rates next year. Japanese Finance Minister Shunichi Suzuki said that the government will continue to monitor the …

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• 13 November 2023 4:54 pm

  Gold is near a 3-week low as the dollar rises and eyes are on US inflation data

  

  On Monday, gold prices hovered near the lowest level in three weeks in light of the rise in the dollar and investors awaited US inflation data to obtain more indications about the path of US interest rates. Gold rose in spot transactions by 0.1 percent, recording $1,938.12 per ounce by …

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• 13 November 2023 12:10 pm

  Oil is declining due to fears of shrinking demand in China and America

  

  Oil prices fell on Monday after rising on Friday after renewed fears of shrinking demand in the United States and China, which negatively affected market sentiment. By 0400 GMT, Brent crude oil futures for January fell 71 cents, or 0.87 percent, to $80.72 per barrel. West Texas Intermediate crude futures …

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• 13 November 2023 11:45 am

  Japan’s Nikkei closed flat after a wave of profit taking

  

  On Monday, November 13, the Japanese Nikkei index gave up its gains during the session to close without significant change, with investors resorting to selling to take profits with the index reaching near the level of 33 thousand points, while the shares of Shiseido Cosmetics Company fell strongly after it …

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• 13 November 2023 8:45 am

  Financial Markets’ Weekly Recap

  

  Last week witnessed significant developments, encompassing economic data, monetary policy speeches, and various market drivers, ultimately leading to a surge in risk assets and a concurrent strengthening of the US dollar as the trading week concluded on the tenth of November. The initial part of the week remained relatively calm …

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• 11 November 2023 1:39 am

  Amid recent decline, weak inflation is exactly what gold needs

  

  Next week, gold prices might still be weak since Fed Chair Jerome Powell is continuing to adopt tightening policy in an effort to keep the market from becoming too dovish. At the time of writing, the precious metal is trading at $1936.68 per ounce.Powell said that if inflation pressures didn’t …

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• 11 November 2023 12:45 am

  Oil achieves 2% daily gain, but headed for third weekly decline

  

  Oil prices rose by 2% on Friday due to speculators taking profits on short positions, but remained on track for a third week of losses due to slowing demand. Brent futures rose by 2.0% to $81.58 a barrel, while U.S. West Texas Intermediate crude rose by 2.0% to $77.28. Both …

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• 10 November 2023 11:12 pm

  Wall Street rallies on easing Treasury yields

  

  The S&P 500 is expected to close the week higher than 4,400, despite a decline in consumer confidence. Meanwhile, US Treasury bond rates have stabilised after rising more than 10 basis points over the course of the entire yield curve on Thursday. S&P 500 breaks 4,400 as Wall Street closes …

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• 10 November 2023 10:14 pm

  US Dollar consolidates, expected to close with weekly gain

  

  The DXY index trades neutral at 105.90, closing a 0.80% weekly gain. Fed hawks revived USD strength during the week.UoM consumer sentiment data come in lower than expected. The focus shifts to next week’s inflation figure from the US from October.The US Dollar showed minimal movement on Friday. The DXY …

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• 10 November 2023 8:29 pm

  China’s deflation impacts global manufacturers’ profits

  

  The worldwide manufacturing sector is being impacted by China’s economic downturn, as evidenced by the decline in semiconductors, smartphones, and other electronics. Weak capital investment has also resulted in a slow demand for machinery.According to a Nikkei analysis of QUICK-FactSet data, the net incomes of about 13,000 major listed companies …

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• 10 November 2023 7:52 pm

  AUD/USD ends week lower, pressured by RBA’s stance, Powell’s hawkishness

  

  The Australian Dollar (AUD) has experienced a significant drop in value, with the AUD/USD pair dropping 0.12% for the day and extending its losses throughout the week. The RBA’s 25 bps rate hike under new Governor Michele Bullock’s leadership failed to provide a bullish impetus for the Aussie, and Fed …

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• 10 November 2023 6:25 pm

  US Dollar reacts to Powell’s hawkish remarks, technical outlook uncertain

  

  Traders were taken by surprise as Federal Reserve Chairman Jerome Powell delivered unexpectedly hawkish remarks, causing the US Dollar (USD) to initially surge, but subsequently ease during European trading on Friday. Powell’s comments deviated from market expectations of upcoming rate cuts, creating a contrasting picture to earlier dovish statements made …

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• 10 November 2023 4:15 pm

  Gold price struggles as Fed endorses tightening policy, US inflation data awaited

  

  In the near term, the price of gold (XAU/USD) has fallen sharply to around $1,950 after a brief recovery. This decline is driven by the strong inclination of Federal Reserve policymakers to tighten monetary policy further. Federal Reserve Chair Jerome Powell supports tightening policy and emphasizes the need for a …

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