Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 15 November 2023 5:33 pm

  Dollar falls as markets bet that the US Federal Reserve will finish raising interest rates

  

  The dollar fell to low levels on Wednesday, November 15, after falling overnight with the issuance of a surprisingly weaker inflation reading in the United States, which reinforced bets that the US Federal Reserve has reached the end of its monetary policy tightening cycle. At the same time, the offshore …

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• 15 November 2023 2:16 pm

  The unemployment rate in France rose more than expected

  

  The unemployment rate in France rose faster than expected to 7.4% in the third quarter, according to official statistics published on Wednesday, a rise that Finance Minister Bruno Le Maire blamed on slowing economic growth. “This is a result of the economic slowdown in Europe and around the world,” Le …

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• 15 November 2023 11:44 am

  Annual inflation in Britain slowed to 4.6% from levels of 6.7% in September

  

  Annual inflation in Britain for October slowed by 4.6%, more than expected to slow by 4.8%, meaning it reached a two-year low last month. Inflation in Britain reached 6.7% during September and August. The Bank of England earlier this month left its benchmark interest rate unchanged at 5.25% after ending …

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• 15 November 2023 1:04 am

  Market Drivers – US Session, Nov. 14

  

  China’s retail sales and industrial production figures, Australia’s Wage Price Index, and Japan’s Q3 GDP are set to be released on Wednesday. The US dollar experienced a sharp decline in October due to increased inflation, which led to a drop in the Dollar Index (DXY). The 10-year yield fell from …

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• 15 November 2023 12:18 am

  GBP/USD surges post US inflation report, mixed UK data

  

  As softer US CPI data leads to a sharp decline in the US dollar, the GBP/USD pair has surged over 1.80% to trade around 1.2499, namely nearest the 1.2500 level, on the back of the recent US inflation data. October US inflation dropped the most in the last three months …

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• 15 November 2023 12:00 am

  Consumer caution, slowdown impact Home Depot’s earnings

  

  Home Depot reported a 3% drop in sales and earnings for the most recent quarter, attributed to a combination of consumer caution and a chilly housing market. The company had sales of $37.7 billion, 3% less than the same quarter a year ago, and net earnings of $3.8 billion, about …

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• 14 November 2023 11:07 pm

  In what economic context will Biden – Xi summit take place?

  

  The scheduled meeting between President Joe Biden and Chinese President Xi Jinping in San Francisco, according to traders, may signal an optimistic thawing of tensions and improve sentiment towards the Asian country’s battered assets.In Xi’s first trip to the US since 2017, when he met with then-President Donald Trump, the …

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• 14 November 2023 10:44 pm

  Gold rallies post tamer US inflation reading

  

  Spot gold is trading at $1964.11 per ounce at the time of writing. Gold prices have surged in early US trading session, following a slightly tamer US inflation report. The consumer price index report for October came in at 3.2% year-on-year, falling into the camp of US monetary policy doves …

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• 14 November 2023 9:32 pm

  Fed’s future path becomes clearer post CPI data

  

  Will Fed say goodbye to the rate hiking era? The Fed will likely be in a holding pattern, with inflation moderating and a weakening labour market. Another rate hike from here looks less likely given this softer inflation reading.  The dollar softened on Tuesday following data for US consumer prices …

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• 14 November 2023 8:49 pm

  US Retail Sales Preview

  

  The US Census Bureau’s October Retail Sales report is expected to reveal a decline in consumption for the first time since March. Economists predict a 0.3% decline in October, with sales ex-autos compared to the prior release of 0.6%. Deutsche Bank expects weak unit motor vehicle sales to lead to …

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• 14 November 2023 7:56 pm

  Will recent US CPI data be welcomed by Fed policymakers?

  

  The US consumer price inflation looks to have negatively surprised the consensus. Economists still predict that the Fed will hold interest rates steady until June 2024, when they will start to cut them. In other words, October saw a decrease in inflationary pressures.With fuel prices acting as a major drag …

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• 14 November 2023 3:56 pm

  JPY is approaching the lowest level in 3 decades

  

  The battered yen remained stuck near a three-decade low against the dollar on Tuesday and struggled to stem losses as the Bank of Japan’s ultra-loose monetary policy continued to conflict with expectations of interest rates remaining high for longer periods elsewhere. The Japanese currency recorded its lowest level in 15 …

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• 14 November 2023 1:50 pm

  A slight rise in European stocks ahead of the CPI data

  

  European stocks rose on Tuesday, led by auto and basic resources shares, as investors awaited US inflation data that may provide a clearer picture of the Federal Reserve’s monetary policy outlook. By 0810 GMT, the European STOXX 600 index rose 0.1 percent after a broad rise in the previous session. …

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