Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 13 December 2023 9:33 pm

  Canadian dollar gains some support from crude oil rally

  

  The Canadian dollar is moderately gaining support from a crude oil rally. Markets are still tepid this week, with CAD traders waiting until Bank of Canada Governor Tiff Macklem’s appearance late Friday before finding tradeable headlines. Markets are eagerly waiting the Federal Open Market Committee meeting to deliver their updated …

  Read More »
• 13 December 2023 8:43 pm

  Gold slightly higher as all eyes focus on looming FOMC decision

  

  Gold prices are up a bit after hitting a three-week low overnight, while silver is slightly down after scoring a four-week low overnight. The marketplace is quieter just ahead of some important US economic data coming out today. February gold was last up $3.20 at $1,996.40. Gold is trading at …

  Read More »
• 13 December 2023 7:47 pm

  US dollar steadies ahead of FOMC decision, Powell’s remarks

  

  The US dollar is expected to remain steady against major G20 currencies ahead of the US Federal Reserve meeting, with traders anticipating a firm pushback on rate cuts from the Fed. The official rate announcement and initial guidance will be released at 19:00 GMT, followed by a press conference with …

  Read More »
• 13 December 2023 6:32 pm

  ECB: Shift Towards a More Dovish Stance Amidst Downward Inflation Trends

  

  It indeed seems to be a busy week for central banks, with several major ones scheduled to report on their monetary policy decisions. The Federal Reserve (Fed) is set to lead the way with its two-day meeting starting on Wednesday, followed by the European Central Bank (ECB), Bank of England …

  Read More »
• 13 December 2023 5:07 pm

  OPEC: “exaggerated” concerns about oil demand are the reason for the decline in prices

  

  On Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) expressed cautious optimism regarding the fundamental factors influencing the oil market in 2024. OPEC attributed the recent decline in oil prices to “exaggerated concerns” about demand. Despite the recent drop in prices, OPEC maintained its relatively high forecast for oil …

  Read More »
• 13 December 2023 2:42 pm

  Limited movements for European stocks ahead of The Fed decision

  

  On Wednesday, European stocks navigated within a narrow range as investors exercised caution in making riskier bets ahead of the Federal Reserve’s decision on interest rates and the future trajectory of monetary policy. The European STOXX 600 index recorded a slight increase of 0.1 percent by 0810 GMT. This modest …

  Read More »
• 13 December 2023 1:08 pm

  Gold loses its luster with the rise of USD

  

  Gold prices fell on Wednesday to the lowest level in more than three weeks as the dollar rose ahead of a Federal Reserve decision on interest rates and monetary policy indicators later on Wednesday. Gold fell in spot transactions 0.2 percent to $1,975.07 per ounce by 0711 GMT. US gold …

  Read More »
• 13 December 2023 12:27 pm

  Japan’s Nikkei closed higher, supported by chip-related stocks

  

  On Wednesday, Japan’s Nikkei average experienced its third consecutive session of gains, buoyed by the positive performance of chip-related companies like Advantest, following the upward movement on Wall Street the previous night. The Nikkei index increased by 0.25 percent, closing at 32,926.35 points, while the broader Topix index rose by …

  Read More »
• 13 December 2023 12:18 pm

  Oil continues to decline amid fears of increased supply

  

  Oil prices continued their descent in Asian trading on Wednesday, extending losses from the previous session where they fell over three percent to their lowest levels in six months. The decline is attributed to concerns about demand and excess supply in the market. As of 0621 GMT, Brent crude futures …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »