Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 7 November 2023 11:11 pm

  Uber qualifies for S&P 500 despite missing Q3 results

  

  Uber has officially reported positive earnings to qualify the ride-sharing company to join the S&P 500. The company’s Q3 results missed analysts’ expectations, with revenue up 11% year over year to $9.29 billion.CEO Dara Khosrowshahi said Uber’s third quarter was “very strong” and saw accelerations in gross bookings, trips, and …

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• 7 November 2023 10:01 pm

  Canadian Dollar experiences pullback post China’s economic data

  

  As the mood of the market turns more bearish on Tuesday, the Canadian dollar is weakening and losing the gains it made against the US dollar last week. Risk appetite is being negatively impacted by a significant miss for Chinese trade data as well as hawkish remarks made by Federal …

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• 7 November 2023 8:57 pm

  WTI impacted by China’s exports concerns

  

  WTI crude oil has seen a significant drop, trading around $78.35, close to its lowest in over two months. Disappointing export figures from China raise alarms about potential declines in oil demand, pressuring prices. OPEC+ production cuts, led by Saudi Arabia and Russia, provide some support but fail to offset …

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• 7 November 2023 7:43 pm

  US dollar holds on intraday gains as safe havens flourish

  

  The US dollar is partially recovering from Friday’s losses, with US Treasury yields trading sideways around 4.61%. The benchmark 10-year US Treasury yield is at 4.61%, finding calmer ground after the volatile week last week. The US Dollar Index is trying to recover from last week’s drop, but still has …

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• 7 November 2023 4:33 pm

  OPEC+ expects global economic growth despite the challenges

  

  Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said on Tuesday that the organization expects the global economy to grow and fuel demand to increase despite macroeconomic challenges, including high inflation and interest rates. He said at the Argus European Crude Oil Conference on Tuesday that …

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• 7 November 2023 2:56 pm

  Dollar rose and AUD declined after the Australian Central Bank’s interest rate decision

  

  The dollar rose today, Tuesday, with the decline in demand witnessed last week for currencies that involve more risks than others, while the Australian dollar fell after the Reserve Bank of Australia raised interest rates, but modified its outlook, which strengthened expectations that the cycle of raising interest rates has …

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• 7 November 2023 12:05 pm

  Japan’s Nikkei ends a 4-session streak of gains as bond yields rise

  

  Japan’s Nikkei index fell by more than one percent on Tuesday, ending a four-session winning streak, as investors sold stocks to take profits after recording significant rises, while a rise in US Treasury yields last night led to a shift in sentiment. The Nikkei index closed down 1.34 percent to …

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• 7 November 2023 3:09 am

  Market Drivers – US Session, Nov. 6

  

  The 10-year yield increased to 4.66%, while the 2-year yield rose from 4.85% to 4.93%, providing support for the Dollar and averting further losses. Thus far, the dollar’s recovery seems corrective, and fundamental reasons continue to give the currency vital support.The US Dollar Index fell to its lowest point since …

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• 7 November 2023 2:49 am

  RBA’s Decision Preview: Further tightening after four pauses in a row

  

  After four consecutive pauses, the Australian central bank (RBA) is anticipated to start tightening again during its Melbourne Cup meeting on Tuesday. Whether Governor Michele Bullock maintains her recent hawkish rhetoric, which suggests more interest rate hikes, will be the main focus of the RBA meeting.According to the way the …

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• 7 November 2023 1:57 am

  Gold declining ahead of RBA’s rate decision, Chinese data

  

  Place Gold is retreating from $1,990 as the yield on US Treasury notes increases slightly. Early on Tuesday, the market is becoming more nervous as the RBA is expected to hike interest rates by 25 basis points. China data will also be discussed during Tuesday’s early trading session.As of this …

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• 6 November 2023 9:48 pm

  Yen weakens on positive market sentiment

  

  As the market becomes more optimistic and favours riskier currencies over safe havens like the Yen, the value of the Japanese yen has declined at the beginning of the week. At its most recent meeting, the Bank of Japan sent conflicting signals, stating that it is still easing while also …

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• 6 November 2023 8:52 pm

  Fed’s Cook: Fed cannot anticipate all risks, but can build resilience to shocks

  

  Federal Reserve Governor Lisa Cook said on Monday that expectations of near-term policy rates do not appear to be driving rise in long-term rates. These comments failed to trigger a noticeable market reaction. As of writing, the US Dollar Index was unchanged on the day at 105.05. The US financial …

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• 6 November 2023 7:46 pm

  US dollar retreats on tightening bets, downturn concerns

  

  The dollar fell to an almost eight-week low against the euro on Monday on growing confidence that the Federal Reserve is done hiking interest rates, while comments from multiple U.S. central bank officials this week will be watched for further signals on rate policy.Fed Chairman Jerome Powell is due to …

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