Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 29 November 2023 1:13 am

  Market Drivers – US Session, November 28

  

  The US Dollar retreated across the board. The comments by Fed’s Christopher Waller stating that if inflation consistently declines, there is no reason to insist on keeping interest rates really high reinforced the negative momentum of the Greenback. Fed’s Mester will speak on Wednesday.The US Dollar Index (DXY) broke below …

  Read More »
• 29 November 2023 1:05 am

  NZD gains 0.52% ahead of RBNZ meeting

  

  The central bank in New Zealand is expected to maintain interest rates at 5.50%, with the NZD/USD pair reaching 0.6127. Despite few expecting the RBNZ to lift interest rates at the meeting, some analysts see a risk of hawkish posturing. Forecasts and commentary from Reserve Bank Governor Adrian Orr are …

  Read More »
• 29 November 2023 12:32 am

  GBP/USD Benefits From Softer Dollar After Dovish Fed Remarks

  

  The GBP/USD has surged for the fourth consecutive day following dovish remarks by US Fed officials, suggesting a deceleration in inflation would warrant lower rates. The pair has posted more than 0.60% gains, with buyers eyeing a test of the August 30 swing high at 1.2746, which could pave the …

  Read More »
• 29 November 2023 12:15 am

  US stocks witness a pause in November’s rally

  

  With futures pointing to a weaker opening today after a decline in equities on Monday, US stocks show signs of a pause in its November rallyInvestors are now turning their attention to a fresh batch of earnings reports expected from several tech and enterprise firms, including Nasdaq’s Intuit, Workday, Splunk, …

  Read More »
• 28 November 2023 11:12 pm

  Slowing China could trigger race for commodities

  

  China’s President Xi Jinping is attempting to shift China from its property-based, debt-fueled economic model, which has been cooling growth in the world’s second-largest economy. However, investors are concerned about the structural changes underpinning the country’s continuing appetite for raw materials, such as the $300 billion copper market. China imports …

  Read More »
• 28 November 2023 10:05 pm

  Gold surges to around $ 2040 on consumer optimism, Fed bets

  

  The gold market is holding near a six-month high, seeing some reaction to better-than-expected US consumer optimism. At the time of writing, gold is trading at $204.51 per ounce. It is up by +1.34%, with $27.13 gains. The Conference Board said on Tuesday its consumer confidence index fell to 102 …

  Read More »
• 28 November 2023 9:04 pm

  Lagarde: ECB to discuss QT in near future

  

  ECB President Lagarde participated through a pre-recorded video at the European Financial Reporting Advisory Group Conference, in Brussels, and mentioned quantitative tightening (QT). Among other things, Lagarde said QT will come up for “discussion and consideration within the governing council in the not-too-distant future.”Financial markets ignored Lagarde’s words and focused …

  Read More »
• 28 November 2023 8:06 pm

  Fed’s Bowman: Willing to support rate hikes if progress on inflation stalls

  

  Federal Reserve Governor Michelle Bowman said on Tuesday that she remains willing to support raising interest rates “should the incoming data indicate that progress on inflation has stalled or is insufficient to bring inflation down to 2 percent in a timely way.” The US Dollar Index (DXY) moved modestly off …

  Read More »
• 28 November 2023 7:36 pm

  US Dollar Dips as Consumer Confidence Turns Cloudy

  

  The dollar trades softly in the red, seeing earlier attempts to recline failing. US traders will hear from no less than four Fed members this Tuesday. The US Dollar Index snaps 103 and enters in the 102-region. The US Dollar is losing its grip again on the situation as this …

  Read More »
• 28 November 2023 4:26 pm

  European stocks halt November gains after statements by central bank officials

  

  European stocks fell for a second session on Tuesday after strong gains in November after the latest comments from European Central Bank policymakers refuted market expectations of interest rate cuts next year. The European STOXX 600 index fell 0.5 percent, with market heavyweights such as Novo Nordisk and LVMH falling …

  Read More »
• 28 November 2023 2:22 pm

  OPEC+ production cuts in place and what could change

  

  OPEC+ analysts and sources have indicated that the group, consisting of OPEC members such as Saudi Arabia and allied countries like Russia, will hold an online meeting on Thursday. During this meeting, further adjustments to the existing agreement, which has already curtailed oil supplies until 2024, might be considered to …

  Read More »
• 28 November 2023 1:02 pm

  Gold hits a 6-month high amid the dollar’s decline

  

  Gold prices stabilized after touching a six-month high on Tuesday, as expectations that the Federal Reserve will end its interest rate hike cycle kept the dollar and Treasury yields under pressure. Gold rose in spot transactions 0.1 percent to $2,015.33 per ounce by 0643 GMT, after reaching its highest levels …

  Read More »
• 28 November 2023 11:50 am

  Oil is on its way to ending a series of losses

  

  Oil prices rose on Tuesday, snapping a multi-session losing streak ahead of a crucial OPEC+ meeting, which is widely expected to see production cuts increased and extended amid fears that supply will continue to exceed demand. By 0152 GMT, Brent crude futures rose 45 cents, or 0.6 percent, to $80.43 …

  Read More »