Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 29 December 2023 10:22 am

  Bets for a rate cut in 2024 are pressuring USD to end the year on a losing note

  

  As the year 2023 draws to a close, the US dollar faces the prospect of ending the year with a significant loss, erasing gains from two consecutive years. Market sentiment is shaped by expectations that the Federal Reserve may initiate interest rate cuts by March 2024, contributing to the dollar’s …

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• 29 December 2023 1:24 am

  Gold holds around $2070 amid quiet trading session

  

  Gold price remains steady at $2069.50 per ounce, despite a rebound in the US Dollar and higher US Treasury bond yields. On the data front; Initial Jobless Claims increased to 218,000, above the forecast of 210,000, and Continuing Claims reached 1.875 million, the highest in four weeks. The downside of …

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• 28 December 2023 10:09 pm

  S&P 500 closes nearest all-time highs near $4,800

  

  The S&P 500 is nearing all-time highs near $4,800, but a late-day pullback due to rising Treasury yields has pushed assets lower. The market’s risk rally, driven by rate cut expectations in 2024, has been slowed down by a surprise increase in US 7-year Treasury yields, causing a reversal of …

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• 28 December 2023 8:06 pm

  US dollar nosedives in last few trading days before 2024

  

  Thursday saw a sharp decline in the value of the US dollar following the Richmond Manufacturing Index. The US bond market is witnessing significant purchasing while the equity markets remain stable.After the US opening bell, the US Dollar Index has experienced a wild ride and is almost flat. On Thursday, …

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• 28 December 2023 2:40 pm

  USD declines against JPY and compensates for its losses against EUR

  

  The US dollar witnessed divergent movements against key currencies on Thursday, recovering from early losses against the euro while facing a decline against the Japanese yen. Investors are closely monitoring signals from the Federal Reserve, expecting a potential interest rate cut in the coming year. Dollar Index Performance: The dollar …

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• 28 December 2023 1:46 pm

  European stocks rise on expectations of interest rate cuts

  

  European stocks showcased a positive trajectory on Thursday, led by gains in mining and insurance companies. The market outlook remained optimistic as the year neared its end, buoyed by expectations that major global central banks would potentially reduce borrowing costs in the coming year. Market Overview: The STOXX 600 index …

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• 28 December 2023 12:50 pm

  Oil Prices Rise Amid Middle East Tensions

  

  Oil prices experienced an early uptick in Asian trading on Thursday, driven by persistent concerns over escalating tensions in the Middle East. These apprehensions overshadowed earlier worries about shipping traffic disruption, as some international shipping companies resumed activities in the Red Sea. Market Movement:Brent crude futures advanced by 0.3 percent, …

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• 28 December 2023 3:45 am

  Gold price leaps high on dovish Fed bets, deteriorating US yields

  

  Gold was trading closely to the $2,070 level, registering strong gains, on early Thursday the precious metal is trading at $2086.45 per ounce. Markets project as many as six Fed rate hikes in 2024, which shook down the US Treasury yields.US Jobless Claims on Thursday may fuel further volatility in …

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• 28 December 2023 1:39 am

  Market Drivers – US Session, December 27

  

  It was another day in an unusual week that is shortened by holidays. The US Dollar Index extended its loss and dropped below 101.00, reaching its lowest level since July. The 10-year Treasury yield fell to 3.78%, a five-month low, while the 2-year settled at 4.24%, the lowest since May.US …

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• 27 December 2023 7:53 pm

  Trump’s reelection could mean return of US-China trade war

  

  Geopolitical risks remain high and economists discuss what to look out for in 2024. Severe geopolitical shocks and persistent tensionsThe new year could mark a watershed for political and military support for Ukraine, particularly as elections will be held in the US Military support from the US is critical, and …

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• 27 December 2023 3:33 pm

  Dollar Hits 5-Month Low

  

  The dollar faced a decline on Wednesday, reaching its lowest level in five months, while the euro touched a four-month high. Market sentiment was driven by expectations of an imminent interest rate cut by the Federal Reserve. However, limited trading volume at the close of the year contributed to subdued …

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• 27 December 2023 2:09 pm

  European Shares Inch Up on Positive Chinese Data and Wall Street Optimism

  

  European shares experienced a modest increase on Wednesday, driven by a rise in mining shares fueled by strong Chinese data. Additionally, technology stocks received a boost from Wall Street’s optimistic outlook, fueled by expectations that the Federal Reserve might initiate interest rate cuts in March. Market Overview:The European STOXX 600 …

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• 27 December 2023 1:02 pm

  Oil stabilizes and all eyes are on developments in the Red Sea

  

  Oil prices maintained stability on December 27 as investors closely monitored developments in the Red Sea, where major shipping companies resumed transit despite ongoing attacks and heightened tension in the Middle East. Brent crude futures experienced a slight dip of 0.1%, falling 5 cents to $81.02 per barrel, while US …

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