Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 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 »
• 27 November 2023 8:31 pm

  Canadian Dollar churns sideways as markets looking ahead to midweek data

  

  The Canadian Dollar is grappling with sideways momentum on Monday. Markets look ahead to key data for both the US and Canada in the latter half of the week.US PCE inflation & ISM Manufacturing, Canada GDP & employment change are on the horizon. The Canadian Dollar (CAD) is middling against …

  Read More »
• 27 November 2023 7:42 pm

  US: New Home Sales retreat below expectations

  

  New Home Sales in the US declined 5.6% in October. US Dollar Index continues to hover around 103.40 after the data. Sales of new single‐family houses in October 2023 were at a seasonally adjusted annual rate of 679,000, according to estimates released jointly on Monday by the US Census Bureau …

  Read More »
• 27 November 2023 2:57 pm

  Lukewarm performance for European stocks

  

  European stocks were steady on Monday as lower oil prices led to a decline in energy stocks, ahead of comments by European Central Bank President Christine Lagarde on monetary policy before a European Parliament committee. The European Stoxx 600 index remained stable at 0820 GMT, while the British Financial Times …

  Read More »
• 27 November 2023 1:59 pm

  The British pound rose and the dollar fell as traders awaited new economic signals

  

  The pound sterling rose to its highest level in more than two months against the dollar on Monday, although some risk aversion limited the US currency’s losses, with traders awaiting new economic signals next week to determine the course of monetary policy regarding future interest rates. The current week is …

  Read More »