Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 8 December 2023 7:38 pm

  US economy adds more jobs than expected in November

  

  According to data released on Friday by the Bureau of Labour Statistics, Non-farm payrolls rose by 199,000 following an unrevised 150,000 jump in October. Analysts were expecting a 180,000 increase.In November, the unemployment rate decreased slightly from 3.9% in October to 3.7%, defying predictions that it would stay the same.Average …

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• 8 December 2023 5:58 pm

  China pledges to strengthen fiscal policy to support economic recovery

  

  The top decision-making body of China’s ruling Communist Party said the country’s fiscal policy “should be moderately strengthened” to stimulate economic recovery, the state-run Xinhua news agency reported. The Politburo meeting held on Friday, chaired by Chinese President Xi Jinping, analyzed the economic work to be undertaken in 2024. The …

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• 8 December 2023 4:19 pm

  Oil prices rise, but they are heading to record weekly losses of 6%

  

  Oil prices rose by more than 1.5% during trading today, Friday, December 8th, but they are heading to record weekly losses of about 6% after falling to the lowest level in 6 months. In terms of trading, Brent crude futures rose 1.6% to $75.25 per barrel. US crude futures also …

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• 8 December 2023 3:22 pm

  Japan’s Nikkei records its largest weekly losses since mid-September

  

  The Japanese Nikkei index fell at the end of the trading session on Friday, December 8th, and recorded its largest weekly losses since mid-September. At the end of the session, the Nikkei index fell by about 1.68% to 32,307 points, recording weekly losses of 3.36%, but it is still up …

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• 8 December 2023 2:19 pm

  Gold is on its way to its first weekly decline in a month ahead of US data

  

  Gold is heading towards recording its first weekly decline in four weeks after the rise of the dollar, but prices stabilized on Friday as markets awaited key data on US jobs for signs that the Federal Reserve may cut interest rates in early March. Gold increased 0.1 percent to $2,030.32 …

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• 8 December 2023 12:57 pm

  Yen continues to rise on BoJ’s signs to change policy

  

  The yen continued its sharp rise on Friday and is on track to record its best weekly performance against the dollar in nearly five months, with traders’ expectations increasing that Japan will soon end its ultra-easy monetary policy. A generally stronger yen capped the dollar’s rise, which remained in a …

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• 8 December 2023 2:45 am

  Market Drivers – US Session, Dec. 7

  

  The key event on the economic calendar will be the US official employment report. Before that, during the Asian session, Japan’s data is due, including GDP, current account, and the trade balance. The Bank of England will publish the Consumer Inflation Expectation survey.Economic DataData released on Thursday showed that Initial …

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• 8 December 2023 2:36 am

  EUR/GBP exhibits mixed performance amid Eurozone GDP miss

  

  The EUR/GBP pair has drawn tight as both currencies mix on Thursday. The Euro remains steeply off of recent highs against the Pound Sterling. The Euro is lacking momentum after a miss on Eurozone GDP.The EUR/GBP has been trading in a tight range through the week just above 0.8550 after …

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• 8 December 2023 12:28 am

  GBP/JPY drops to eight-week low on bearish BoJ comments

  

  Following BoJ Ueda’s remarks, the GBP/JPY pair fell, trading at 180.69 after hitting an eight-week low at 178.53. Technical change to bearish; additional confirmation will come from a daily close at roughly 181.80.The BoJ Governor Ueda’s remarks caused the GBP/JPY to fall by more than 2.30%. The pair eventually reached …

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• 7 December 2023 11:53 pm

  USD/JPY falls on worst day in over one year

  

  The USD/JPY combination is headed for its worst day in 13 months. All around, the Japanese Yen is strengthening against the FX market as a whole. The Yen’s rally on Thursday was triggered by BoJ Governor Ueda’s implied potential tightening. A broad-market rally for the Japanese Yen on Thursday sent …

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• 7 December 2023 10:47 pm

  How could different financial assets react to looming NFP data?

  

  The US Bureau of Labour Statistics is set to release November’s jobs report on Friday, December 8, with expectations for a 180,000 rise in Nonfarm Payrolls. Gold is expected to react stronger to a disappointing jobs report than an upbeat one. US stocks are trading modestly higher on Thursday, led …

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• 7 December 2023 9:47 pm

  Tesla’s labour dispute sparks strikes across the Nordic region

  

  Numerous unions in the Nordic region have become involved in the labour dispute between Tesla and Swedish trade union IF Metall, calling on the automaker to sign a collective bargaining agreement.A strike by around 130 workers affiliated with IF Metall on October 27 has sparked sympathy strikes from dockworkers, cleaners, …

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• 7 December 2023 8:40 pm

  Gold prices stabilize on diving dollar post US Jobless Claims

  

  Gold gains as more major central banks increase their bets on rate cuts in early 2024. The precious metal is receiving additional support from the cautious sentiment of the market. Gold is trading at 2029.38 at the time of writing.Early on Thursday in the European session, the price of gold …

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