Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 11 December 2023 6:43 am

  Financial Markets’ Weekly Recap

  

  Oil prices experienced a notable uptick of more than two percent on Friday, fueled by optimistic US data that bolstered expectations for increased demand. Despite this positive development, both Brent crude and US West Texas Intermediate (WTI) crude prices faced their seventh consecutive week of decline, marking the lengthiest series …

  Read More »
• 9 December 2023 1:03 am

  Market Drivers – US Session, Dec. 8

  

  Gold price retreated below $2,000 for the first time since November 24, extending losses to 0.50%. The XAU/USD pair is trading at $1996, after hitting a daily high of $2034.00. The decline follows the latest US employment report, which showed the labor market is improving, with the economy creating 199K …

  Read More »
• 9 December 2023 12:43 am

  Eurozone yields surge on accelerating US jobs growth

  

  Germany’s 10-year yield fell 7.5 basis points to 2.272%, marking its biggest biweekly fall since mid-March. The US economy added more jobs than expected last month, dampening expectations for rate cuts from the Federal Reserve early next year. The Labour Department reported that non-farm payrolls rose by 199,000 in November, …

  Read More »
• 9 December 2023 12:31 am

  US dollar gains on surging T-yields, strong NFP data

  

  The US Dollar Index has soared to the 104.05 mark, driven by positive labor market cues and a surge in yields, suggesting that markets are delaying rate cuts in 2024. The gains were fueled by economic reports from November, including Average Hourly Earnings, Unemployment Rate, and Nonfarm Payrolls, which collectively …

  Read More »
• 8 December 2023 11:17 pm

  Oil could rebound post further voluntary cuts

  

  As voluntary production cuts are demanded by Russia and Saudi Arabia, oil traders are expecting a recovery in the oil market. Due to gloomy weather forecasts, natural gas is trading below $2.60, while WTI oil has pared some of its weekly losses and is moving closer to $71.50. As of …

  Read More »
• 8 December 2023 10:31 pm

  USD/JPY climbs back after tumbling during the previous trading session

  

  The USD/JPY pair is recovering after a steep decline on Thursday, climbing four-tenths of a percent from the day’s opening bids and looking to pare back losses. The pair is up aroung 144.836, by +0.52% at the time of writing.The US dollar traded flat against the Japanese Yen through the …

  Read More »
• 8 December 2023 9:32 pm

  Stocks rise after surprise change in US unemployment

  

  After hitting a high of 4,606.31, which put it within one point of its 2023 peak, the S&P 500 stayed close to the flatline, while the Dow Jones Industrial Average gained 24 points, or 0.1%. 0.15% was added to the Nasdaq Composite. The unemployment rate unexpectedly decreased in November, from …

  Read More »
• 8 December 2023 8:46 pm

  AUD/USD endures losses on strong US labour market, surging T-yields

  

  The Australian dollar (AUD) experienced a dip in its Friday trading session, trading lower at approximately 0.6580. The downward movement is attributed to robust American labor market data and escalating US yields, which drove demand to the US dollar. The US Bureau of Labor Statistics data showed an increase in …

  Read More »
• 8 December 2023 7:38 pm

  US economy adds more jobs than expected in November

  

  According to data released on Friday by the Bureau of Labour Statistics, Non-farm payrolls rose by 199,000 following an unrevised 150,000 jump in October. Analysts were expecting a 180,000 increase.In November, the unemployment rate decreased slightly from 3.9% in October to 3.7%, defying predictions that it would stay the same.Average …

  Read More »
• 8 December 2023 5:58 pm

  China pledges to strengthen fiscal policy to support economic recovery

  

  The top decision-making body of China’s ruling Communist Party said the country’s fiscal policy “should be moderately strengthened” to stimulate economic recovery, the state-run Xinhua news agency reported. The Politburo meeting held on Friday, chaired by Chinese President Xi Jinping, analyzed the economic work to be undertaken in 2024. The …

  Read More »
• 8 December 2023 4:19 pm

  Oil prices rise, but they are heading to record weekly losses of 6%

  

  Oil prices rose by more than 1.5% during trading today, Friday, December 8th, but they are heading to record weekly losses of about 6% after falling to the lowest level in 6 months. In terms of trading, Brent crude futures rose 1.6% to $75.25 per barrel. US crude futures also …

  Read More »
• 8 December 2023 3:22 pm

  Japan’s Nikkei records its largest weekly losses since mid-September

  

  The Japanese Nikkei index fell at the end of the trading session on Friday, December 8th, and recorded its largest weekly losses since mid-September. At the end of the session, the Nikkei index fell by about 1.68% to 32,307 points, recording weekly losses of 3.36%, but it is still up …

  Read More »
• 8 December 2023 2:19 pm

  Gold is on its way to its first weekly decline in a month ahead of US data

  

  Gold is heading towards recording its first weekly decline in four weeks after the rise of the dollar, but prices stabilized on Friday as markets awaited key data on US jobs for signs that the Federal Reserve may cut interest rates in early March. Gold increased 0.1 percent to $2,030.32 …

  Read More »