Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2022

• 23 November 2022 4:04 pm

  Scholz Pledges to End Germany’s Over-Reliance on China, Russia

  

  Chancellor Olaf Scholz doubled down on his government’s promise to end Germany’s “one-sided dependence” on Russia and China for energy and trade, part of a sweeping rethink of the nation’s commercial ties triggered by the war on Ukraine. “The price of sitting on our hands would be incomparably higher,” Scholz …

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• 23 November 2022 3:02 pm

  Dollar is stable ahead of Fed

  

  The US dollar held steady on Wednesday ahead of the highly anticipated release of the Federal Reserve’s latest policy meeting, while the New Zealand dollar was boosted by a record interest rate hike to curb inflation. The US dollar index, which measures the dollar’s performance against six major currencies, settled …

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• 23 November 2022 2:03 pm

  European shares hover near a 3-month high

  

  European stocks hovered near three-month highs on Wednesday as a rally in commodities stocks offset a decline in Credit Suisse after issuing a profit warning, while investors awaited corporate activity data for clues to the strength of the eurozone economy. By 0805 GMT, the pan-European Stoxx 600 index was flat …

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• 23 November 2022 1:21 pm

  Oil prices rose slightly after data on the decline in US oil inventories

  

  Oil prices rose slightly on Wednesday, after data showing a larger-than-expected decline in US crude inventories last week offset fears that China’s fuel demand will decline amid tightening COVID-19 restrictions. Brent crude futures rose 27 cents, or 0.3 percent, to $88.63 a barrel at 0719 GMT, while West Texas Intermediate …

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• 23 November 2022 12:43 pm

  Gold is moving in a limited range as investors await the Fed’s statement

  

  Gold moved in a limited trading range on Wednesday as investors awaited the Federal Reserve’s monetary policy meeting statement that could provide clues about further interest rate hikes. And by 0647 GMT gold prices in spot transactions fell 0.1 percent to 1737.79 dollars an ounce, while there was little change …

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• 23 November 2022 3:37 am

  Market Drivers – US Session 22/11/2022

  

  The US dollar plummeted on Tuesday amid the better performance of global equities which closed in the green territory on the back of positive risk appetite Wall Street posted considerable gains, adding the most in the final hours of trading. On the other hand, US Treasury yields edged lower with …

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• 23 November 2022 2:19 am

  Gold benefits from positive risk appetite, softer US dollar

  

  Gold Price registers gains of 0.03%, and the precious metal is now trading around $1738 as Fed policymakers begin to price a 50 bps rate hike and the US central bank needs to tighten monetary conditions.The US Dollar edges lower on Tuesday as the American currency is weighed by falling …

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• 23 November 2022 1:08 am

  EUR/USD Goes Defensive As FOMC Minutes Awaited

  

  An improvement in the market’s sentiment despite the looming Covid woes from China and mixed concerns surrounding the US-China relations help the pair to register the first daily gain in four on Tuesday. EUR/USD buyers are relaxing ahead of Wednesday that is literally eventful. The EUR/USD pair has steadied around …

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• 23 November 2022 12:11 am

  US T-Yields Drop As Investors Await FOMC Minutes

  

  Global equities surged on Tuesday while US Treasury yields dropped ahead of the awaited release of the Federal Reserve’s meeting minutes for November. Investors are looking forward to clues on the upcoming US interest rate hiking. On the other hand, China’s COVID restrictions weighed on the overall market sentiment.Benchmark 10-year …

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• 22 November 2022 11:18 pm

  Hunt, BoE Governor to cut maximum size of APF

  

  In exchanged letters between the BoE governor and the UK finance minister regarding asset purchase programme, there was a mention of the official intention to looming cutting of the maximum size of the Asset Purchasing Facility, APF.The maximum size of the APF authorized has been cut to GBP871 bln, of …

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• 22 November 2022 10:00 pm

  GBP/USD steadily surges on softer US Dollar

  

  The British Pound extended its gains amid prevalent positive risk appetite on Tuesday. The Pound Sterling climbed in the US session, though Fed’s hawkish commentary continued and policymakers expressed the likelihood of moderating the tightening cycle pace. China’s Covid-19 outbreak constitutes another factor triggering investors’ fears, though some fears weakened …

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• 22 November 2022 9:11 pm

  Data-wise Canada’s consumer spending still robust

  

  Tuesday’s data showed the declining retail sales in Canada in September by 0.5%. The biggest decline comes from gasoline and is linked to lower prices during the month in question , making sales a little better in volume terms with a 0.1% decline.The advance estimate for October shows a healthy …

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• 22 November 2022 8:33 pm

  USD Index to further decline under 105

  

  The US Dollar Index (DXY) has experienced a quick decline toward the 200-Day Moving Average at 105/104.60 which is also the low previously recorded last August. A break below the current level would open up next potential supports at 103 and 101.90/30 according to analysts.Daily MACD is within deep negative …

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