Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 9 November 2023 1:45 am

  New Zealand Dollar moves back after central bank’s report

  

  New Zealand’s dollar has lost ground against the US Dollar following the Reserve Bank of New Zealand’s latest inflation expectations report. The report suggests that prices are likely to fall in the future, capping interest rates, a negative for NZD. The NZD/USD pair has lost 0.37% on the day and …

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• 9 November 2023 12:59 am

  Oil price remains lower after Tuesday’s steep decline

  

  Early on Wednesday, oil prices continued to decline from their lowest points since July. West Texas Intermediate, at $77.30 per barrel, saw minimal movement. The global benchmark, Brent crude, increased by 0.1% to $81.69 per barrel. The price of a barrel of Brent crude dropped $2.14, or 2.6%, to $79.47. …

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• 8 November 2023 11:46 pm

  Gold continues to decline below $1,950.

  

  On Wednesday, gold was expected to reach new lows, testing $1,950. Investor hopes for a dovish Fed ease are pushing back precious metals. Gold is trading at $1,947.96 per ounce at the time of writing.US Treasuries are still quite low; they recently eased back to 4.5% from 4.615%. Gold is …

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• 8 November 2023 9:48 pm

  EUR/GBP surges as UK stagflation scenario approaches

  

  The EUR/GBP pair reached a weekly peak at 0.8711, driven by concerns over the UK’s economic stagnation and potential stagflation. UK GDP forecasts suggest a possible contraction in Q3, with expectations of a -0.1% decrease in QoQ, pressuring the Pound.The Bank of England’s mixed signals, with Governor Bailey’s cautious stance …

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• 8 November 2023 8:41 pm

  Wall Steet Indexes edge higher post Powell’s speech

  

  With investors analysing earnings reports and remarks from Federal Reserve officials for hints about how long the American central bank will maintain high interest rates before beginning to reduce them, Wall Street’s major indexes edged higher on Wednesday.Amidst anticipations that the Fed may be done raising interest rates, Treasury yields …

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• 8 November 2023 7:51 pm

  Dollar weakened on absence of guidance in Powell’s speech

  

  The US dollar is weakening as Jerome Powell, the chairman of the Federal Reserve, gave a speech devoid of any mention of monetary policy or guidance. Traders are beginning to paint a picture of the US and global economies as the earnings season draws to a close. People’s finances are …

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• 8 November 2023 5:28 pm

  European stocks fell, affected by the decline of insurance companies

  

  European stocks fell on Wednesday, November 8, with shares of insurance companies and financial institutions taking the biggest hit as investors evaluated economic data and corporate profits. The European STOXX 600 index fell 0.1% by 0815 GMT, reaching its lowest level in almost a week and heading for a decline …

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• 8 November 2023 4:36 pm

  Britain targets the Russian gold and oil sectors with new sanctions

  

  Britain on Wednesday imposed sanctions on 29 individuals and entities in Russia’s gold and oil sectors as part of its targeting of the Kremlin’s finances supporting the war in Ukraine. The sanctions include a UAE-based network that Britain says is responsible for funneling more than $300 million in gold revenues …

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• 8 November 2023 2:09 pm

  Dollar rises before the Fed Chairman’s speech

  

  The dollar recovered and rose slightly on Wednesday after a group of Federal Reserve (US central bank) officials left the door open to raising interest rates again, while traders awaited the speech of Bank President Jerome Powell to know the course of the bank’s monetary policy in the future. The …

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• 8 November 2023 1:24 pm

  Japan’s Nikkei turns lower under pressure from a wave of selling in value stocks

  

  Japan’s Nikkei index closed lower on Wednesday, giving up the gains it achieved earlier in the session amid a wave of selling value stocks, but gains in growth stocks limited losses. The Nikkei ended trading down 0.33 percent, recording 32,166.48 points, after opening with an increase of 0.75 percent. The …

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• 8 November 2023 3:30 am

  Market Drivers – US Session, Nov. 7

  

  Metals continued to be pressed. Silver reached a two-week low of $22.43 and is trading dangerously below $22.80. Gold fell to a two-week low of $1956 before retreating from its losses.aDuring the American session, the US dollar weakened due to rising Wall Street stocks and a reverse in Treasury yields. …

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• 8 November 2023 2:53 am

  AUD/USD stops falling ahead of Powell’s speech

  

  Tuesday saw a 1.5% decline in the value of the Australian dollar (AUD/USD), hitting 0.6404 as a result of the Reserve Bank of Australia’s dovish statement and announcement of an anticipated 25 basis point rate hike. The Australian dollar bounced back to start trading on Wednesday at 0.6440.The Reserve Bank …

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• 8 November 2023 1:42 am

  EUR/JPY breaks 15-year high

  

  On Tuesday, the EUR/JPY pair made a significant move towards EU Retail Sales figures, hitting a 15-year high at 161.00. With a 2.8% decrease, Japan’s overall household spending for the year through September fell short of forecasts. With an improvement in the month-over-month figure, the market anticipates more declines in …

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