Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 29 November 2023 10:08 pm

  USD/JPY aspires to stop its three-day declines

  

  The US GDP exceeded forecasts in the third quarter, with a 5.2% increase compared to the anticipated QoQ print of 5.0%. However, Japan’s retail trade numbers continued to decline. The Fed’s Tom Barkin gave a hawkish demonstration, and Fedspeak is pulling markets in different directions. The USD/JPY is retreating towards …

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• 29 November 2023 9:10 pm

  AUD/USD declines following higher than expected US GDP reading in Q3

  

  As of writing, the AUD/USD pair has decreased by 0.50% and is currently trading at 0.6614. With a reported growth rate of 5.2% in Q3, the US economy grew at its fastest rate in almost two years, exceeding the 5% forecast. Along with employment data, traders of the AUD/USD pair …

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• 29 November 2023 8:19 pm

  PCE expected to signal falling inflation that is still too high

  

  The Fed’s preferred inflation index, the Core Personal Consumption Expenditure (PCE), will be released by the US Bureau of Economic Analysis (BEA) on Thursday, November 30.Economists and researchers have published their forecast and estimates of the looming reading. The Fed-preferred inflation measure is expected to follow the CPI and show …

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• 29 November 2023 7:29 pm

  Fed’s Barkin: Unwilling to rule out another interest rate hike

  

  Tom Barkin, President of the Federal Reserve Bank of Richmond, said on Wednesday that he is unwilling to take another interest rate hike off the table. After these comments, the dollar holds modest daily gains, recovering from monthly lows. The DXY is up by 0.15%, at 102.90. Barkin believes that …

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• 29 November 2023 4:46 pm

  Gold is at an almost 7-month peak as the dollar declines

  

  Gold prices touched their highest levels in nearly seven months on Wednesday thanks to a decline in the dollar and US bond yields, with investors growing more confident that the Federal Reserve will cut interest rates during the first half of next year. By 06:32 GMT, gold in instant transactions …

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• 29 November 2023 4:15 pm

  Dollar is recovering from its lowest level in three months

  

  The dollar rose on Wednesday after falling to its lowest level in more than three months on hopes that the Federal Reserve will cut interest rates soon. The New Zealand dollar was one of the best performing currencies, rising 0.49 percent to $0.6166 after the Reserve Bank of New Zealand …

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• 29 November 2023 3:28 pm

  German stocks touch their highest levels in 4 months amid signs of easing inflation

  

  German stocks led gains in Europe on Wednesday after data indicated a decline in inflation in the country’s most populous state, reinforcing expectations that the European Central Bank will cut interest rates next year. The German DAX index rose 1 percent to touch a four-month high after data showed that …

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• 29 November 2023 12:07 pm

  Nikkei closes lower under pressure from profit taking wave

  

  The Japanese Nikkei index ended the session on Wednesday with a decline amid tepid trading, as investors continued to sell shares to take profits after a rise witnessed last week. The Nikkei index fell 0.26 percent to 33,321.22 points after opening with a decline of 0.49 percent and then rising …

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• 29 November 2023 11:45 am

  Oil rises after Kazakhstan and Russia’s exports were disrupted by a storm

  

  Oil prices rose on Wednesday after a storm in the Black Sea region disrupted Kazakhstan and Russia’s crude exports, raising fears of supply shortages as investors awaited a decisive decision from the OPEC+ alliance that could increase or extend production cuts. By 0127 GMT, Brent crude futures rose 33 cents, …

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• 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 …

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• 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 …

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• 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 …

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• 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, …

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