Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 8 December 2023 12:28 am

  GBP/JPY drops to eight-week low on bearish BoJ comments

  

  Following BoJ Ueda’s remarks, the GBP/JPY pair fell, trading at 180.69 after hitting an eight-week low at 178.53. Technical change to bearish; additional confirmation will come from a daily close at roughly 181.80.The BoJ Governor Ueda’s remarks caused the GBP/JPY to fall by more than 2.30%. The pair eventually reached …

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• 7 December 2023 11:53 pm

  USD/JPY falls on worst day in over one year

  

  The USD/JPY combination is headed for its worst day in 13 months. All around, the Japanese Yen is strengthening against the FX market as a whole. The Yen’s rally on Thursday was triggered by BoJ Governor Ueda’s implied potential tightening. A broad-market rally for the Japanese Yen on Thursday sent …

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• 7 December 2023 10:47 pm

  How could different financial assets react to looming NFP data?

  

  The US Bureau of Labour Statistics is set to release November’s jobs report on Friday, December 8, with expectations for a 180,000 rise in Nonfarm Payrolls. Gold is expected to react stronger to a disappointing jobs report than an upbeat one. US stocks are trading modestly higher on Thursday, led …

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• 7 December 2023 9:47 pm

  Tesla’s labour dispute sparks strikes across the Nordic region

  

  Numerous unions in the Nordic region have become involved in the labour dispute between Tesla and Swedish trade union IF Metall, calling on the automaker to sign a collective bargaining agreement.A strike by around 130 workers affiliated with IF Metall on October 27 has sparked sympathy strikes from dockworkers, cleaners, …

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• 7 December 2023 8:40 pm

  Gold prices stabilize on diving dollar post US Jobless Claims

  

  Gold gains as more major central banks increase their bets on rate cuts in early 2024. The precious metal is receiving additional support from the cautious sentiment of the market. Gold is trading at 2029.38 at the time of writing.Early on Thursday in the European session, the price of gold …

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• 7 December 2023 7:42 pm

  US Dollar sinks post lower than expected jobless numbers

  

  The US dollar has been declining versus the Japanese yen over time, and the unemployment rate has not changed. The Japanese Yen is hurting the dollar because Bank of Japan Chairman Kazuo Ueda hinted at an impending shift in monetary policy. Rates negative has been maintained by the Bank of …

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• 7 December 2023 4:54 pm

  Moody’s lowers its outlook on 8 Chinese banks to negative

  

  Moody’s lowered its outlook for 8 Chinese banks to negative from stable, after lowering Beijing’s outlook to negative. The names that were downgraded included the four largest lenders in China, namely Industrial and Commercial Bank of China, Agricultural Bank of China, and China Construction Bank Corporation. The agency said that …

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• 7 December 2023 3:10 pm

  Gold rises with the decline in dollar strength and anticipation of US jobs data

  

  Gold prices rose on Thursday as the dollar fell as investors looked to US jobs data that will be released later this week and may provide new clues on the Federal Reserve’s path on interest rates. Gold rose 0.3 percent to $2,030.20 an ounce by 0748 GMT. US gold futures …

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• 7 December 2023 3:08 pm

  European stocks decline, pressured by economic slowdown fears

  

  European stocks fell on Thursday, with travel and entertainment stocks leading the losses, as investors became increasingly concerned about an economic slowdown after recent weak data. The European STOXX 600 index fell 0.3 percent by 0810 GMT, after touching the peak of more than four months yesterday, Wednesday. Data showed …

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• 7 December 2023 1:53 pm

  China’s crude oil imports record their first year-on-year decline since April

  

  Customs data showed on Thursday that China’s crude oil imports in November fell 9.2 percent year-on-year, the first annual decline since April as high inventory levels, weak economic indicators and a slowdown in orders from independent refineries weakened demand. According to the General Customs Administration, the total imported crude oil …

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• 7 December 2023 1:21 pm

  Euro declines as bets on interest rate cuts increase

  

  The euro fell to its lowest level in more than three weeks on Thursday as traders increased bets that the European Central Bank will begin cutting interest rates starting in March 2024, while the dollar stabilized ahead of the release of important jobs data this week. The euro fell 0.07 …

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• 7 December 2023 12:46 pm

  Nikkei declines, tracking Wall Street as US jobs data awaits

  

  Japan’s Nikkei index fell sharply on Thursday after Wall Street fell overnight ahead of the release of key jobs data that would provide clues on how quickly the Federal Reserve (US central bank) might start cutting interest rates. The Nikkei Nikkei fell 1.76 percent to 32,858.31 points at close, with …

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• 6 December 2023 10:17 pm

  Canada’s dollar achieves limited gains post BoC’s policy decision

  

  The Canadian dollar is experiencing limited gains on Wednesday, but is still struggling to recover lost ground after the Bank of Canada held its benchmark interest rate at 5%, in line with market expectations. The Canadian dollar is seeing a step up against most major currency blocs but remains down …

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