Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 13 December 2023 6:32 pm

  ECB: Shift Towards a More Dovish Stance Amidst Downward Inflation Trends

  

  It indeed seems to be a busy week for central banks, with several major ones scheduled to report on their monetary policy decisions. The Federal Reserve (Fed) is set to lead the way with its two-day meeting starting on Wednesday, followed by the European Central Bank (ECB), Bank of England …

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• 13 December 2023 5:07 pm

  OPEC: “exaggerated” concerns about oil demand are the reason for the decline in prices

  

  On Wednesday, the Organization of the Petroleum Exporting Countries (OPEC) expressed cautious optimism regarding the fundamental factors influencing the oil market in 2024. OPEC attributed the recent decline in oil prices to “exaggerated concerns” about demand. Despite the recent drop in prices, OPEC maintained its relatively high forecast for oil …

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• 13 December 2023 2:42 pm

  Limited movements for European stocks ahead of The Fed decision

  

  On Wednesday, European stocks navigated within a narrow range as investors exercised caution in making riskier bets ahead of the Federal Reserve’s decision on interest rates and the future trajectory of monetary policy. The European STOXX 600 index recorded a slight increase of 0.1 percent by 0810 GMT. This modest …

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• 13 December 2023 1:08 pm

  Gold loses its luster with the rise of USD

  

  Gold prices fell on Wednesday to the lowest level in more than three weeks as the dollar rose ahead of a Federal Reserve decision on interest rates and monetary policy indicators later on Wednesday. Gold fell in spot transactions 0.2 percent to $1,975.07 per ounce by 0711 GMT. US gold …

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• 13 December 2023 12:27 pm

  Japan’s Nikkei closed higher, supported by chip-related stocks

  

  On Wednesday, Japan’s Nikkei average experienced its third consecutive session of gains, buoyed by the positive performance of chip-related companies like Advantest, following the upward movement on Wall Street the previous night. The Nikkei index increased by 0.25 percent, closing at 32,926.35 points, while the broader Topix index rose by …

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• 13 December 2023 12:18 pm

  Oil continues to decline amid fears of increased supply

  

  Oil prices continued their descent in Asian trading on Wednesday, extending losses from the previous session where they fell over three percent to their lowest levels in six months. The decline is attributed to concerns about demand and excess supply in the market. As of 0621 GMT, Brent crude futures …

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• 13 December 2023 1:12 am

  Market Drivers – US Session, December 11

  

  On Wednesday, all eyes will be on the Federal Reserve and Chair Powell. During the Asian session, New Zealand will disclose current account figures, and Japan will release the Tankan survey. The Producer Price Index (PPI) will provide more inflation data in the United States.On Wednesday, the Federal Reserve will …

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• 13 December 2023 12:27 am

  GBP/JPY was unable to extend its gain

  

  The GBP/JPY pair was unable to maintain its gains for longer, resulting in the formation of a bearish candlestick pattern. Despite being neutral, a drop within the Kumo might cause the pair to continue its downturn.Buyers regaining a three-month-old resistance trendline might pave the way for a test of the …

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• 12 December 2023 11:49 pm

  Gold price tumbles ahead of FOMC decision

  

  Gold price hit the daily high of $1996.73 but lost momentum post the US inflation report. The precious metal is trading around $1980 per ounce at the time of writing. The US Bureau of Labour Statistics revealed disinflation in the US, with mixed results in annual and monthly readings. Traders …

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• 12 December 2023 10:49 pm

  How does US dollar react to FOMC’s looming rate decision?

  

  The US Dollar Index is trading with losses below the 104.00 mark, with a -0.23% decline around the 103.850s mark. Investors are awaiting the Fed’s interest rate decision on Wednesday, which is expected to announce a continued pause on interest rate increases, leaving rates unchanged. So, markets anticipate the Fed …

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• 12 December 2023 10:02 pm

  American Fed government posts $314 billion deficit in November

  

  The US government recorded a $314 billion budget deficit in November, which was higher than the expected $301 deficit. The Treasury Department reported $275 billion in receipts and $589 billion in outlays. It compares to a $248 billion deficit in the same month last year.According to the Treasury Department, the …

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• 12 December 2023 9:04 pm

  GBP/USD trades flat during a volatile session as US inflation eases

  

  The GBP/USD pair is trading at 1.2556, despite a volatile session with a 90+ pip range. The US Bureau of Labour Statistics reported declining inflation, with headline dipping and core remaining stickier at 4% YoY. The UK jobs market eased, with 50K new employees added to the workforce, though wages …

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• 12 December 2023 8:10 pm

  Gold prices unchanged post-US CPI data

  

  Gold prices have increased following the release of the US CPI data, triggering cautious optimism ahead of Wednesday’s Fed’s Monetary policy decision. Gold prices found some support on Tuesday after a two-day decline, favoured by softer US yields and a weaker US dollar. Geopolitical tensions continue to grow amid news …

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