Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 13 November 2023 8:45 am

  Financial Markets’ Weekly Recap

  

  Last week witnessed significant developments, encompassing economic data, monetary policy speeches, and various market drivers, ultimately leading to a surge in risk assets and a concurrent strengthening of the US dollar as the trading week concluded on the tenth of November. The initial part of the week remained relatively calm …

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• 11 November 2023 1:39 am

  Amid recent decline, weak inflation is exactly what gold needs

  

  Next week, gold prices might still be weak since Fed Chair Jerome Powell is continuing to adopt tightening policy in an effort to keep the market from becoming too dovish. At the time of writing, the precious metal is trading at $1936.68 per ounce.Powell said that if inflation pressures didn’t …

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• 11 November 2023 12:45 am

  Oil achieves 2% daily gain, but headed for third weekly decline

  

  Oil prices rose by 2% on Friday due to speculators taking profits on short positions, but remained on track for a third week of losses due to slowing demand. Brent futures rose by 2.0% to $81.58 a barrel, while U.S. West Texas Intermediate crude rose by 2.0% to $77.28. Both …

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• 10 November 2023 11:12 pm

  Wall Street rallies on easing Treasury yields

  

  The S&P 500 is expected to close the week higher than 4,400, despite a decline in consumer confidence. Meanwhile, US Treasury bond rates have stabilised after rising more than 10 basis points over the course of the entire yield curve on Thursday. S&P 500 breaks 4,400 as Wall Street closes …

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• 10 November 2023 10:14 pm

  US Dollar consolidates, expected to close with weekly gain

  

  The DXY index trades neutral at 105.90, closing a 0.80% weekly gain. Fed hawks revived USD strength during the week.UoM consumer sentiment data come in lower than expected. The focus shifts to next week’s inflation figure from the US from October.The US Dollar showed minimal movement on Friday. The DXY …

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• 10 November 2023 8:29 pm

  China’s deflation impacts global manufacturers’ profits

  

  The worldwide manufacturing sector is being impacted by China’s economic downturn, as evidenced by the decline in semiconductors, smartphones, and other electronics. Weak capital investment has also resulted in a slow demand for machinery.According to a Nikkei analysis of QUICK-FactSet data, the net incomes of about 13,000 major listed companies …

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• 10 November 2023 7:52 pm

  AUD/USD ends week lower, pressured by RBA’s stance, Powell’s hawkishness

  

  The Australian Dollar (AUD) has experienced a significant drop in value, with the AUD/USD pair dropping 0.12% for the day and extending its losses throughout the week. The RBA’s 25 bps rate hike under new Governor Michele Bullock’s leadership failed to provide a bullish impetus for the Aussie, and Fed …

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• 10 November 2023 6:25 pm

  US Dollar reacts to Powell’s hawkish remarks, technical outlook uncertain

  

  Traders were taken by surprise as Federal Reserve Chairman Jerome Powell delivered unexpectedly hawkish remarks, causing the US Dollar (USD) to initially surge, but subsequently ease during European trading on Friday. Powell’s comments deviated from market expectations of upcoming rate cuts, creating a contrasting picture to earlier dovish statements made …

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• 10 November 2023 4:15 pm

  Gold price struggles as Fed endorses tightening policy, US inflation data awaited

  

  In the near term, the price of gold (XAU/USD) has fallen sharply to around $1,950 after a brief recovery. This decline is driven by the strong inclination of Federal Reserve policymakers to tighten monetary policy further. Federal Reserve Chair Jerome Powell supports tightening policy and emphasizes the need for a …

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• 10 November 2023 2:29 pm

  Dollar is heading for its best week against the yen in 3 months

  

  The dollar is headed for its best week against the yen in three months on Friday after Federal Reserve Chairman Jerome Powell and a group of US central bank officials dashed market expectations that interest rates had peaked. As for cryptocurrencies, Bitcoin and Ether settled near their highest levels in …

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• 10 November 2023 1:38 pm

  European stocks fell as the US Federal Reserve undermined hopes that interest rates would reach their peak

  

  European stocks fell on Friday, pressured by rising bond yields, and comments by Federal Reserve Chairman Jerome Powell undermined investors’ hopes that interest rates would peak. The European STOXX 600 index fell 0.4 percent by 0810 GMT, but is still heading for gains for the second week. Fed officials, including …

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• 10 November 2023 1:51 am

  WTI trapped as US Crude Oil production hits all-time high

  

  Crude Oil saw a minor relief bid on Thursday before getting pushed back down. WTI ticked into $77.00 before slipping back to $75.00. US hits all-time highs on Crude Oil production.WTI Crude Oil continues to get pushed into recent lows as barrel bids struggle to find the floor on bearish …

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• 9 November 2023 11:27 pm

  Gold reshine on positive market sentiment, softer jobs data

  

  Gold prices have rebounded from their weekly lows, marking a 0.43% increase, as traders digest the latest US jobless claims report. The Federal Reserve’s divided stance and the anticipation of Chairman Powell’s speech keep investors on edge, with a dovish tilt currently in the lead. Geopolitical tensions following the Hamas …

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