Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 4 December 2023 3:21 pm

  European stocks decline, driven by a decline in mining and energy companies

  

  European stocks fell on Monday after strong gains last week driven by increased bets on a cut in interest rates, with mining and energy stocks falling on weak commodity prices. The European STOXX 600 index fell 0.1 percent by 0810 GMT after touching the highest level in four months on …

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• 4 December 2023 2:28 pm

  Gold retreats from all-time highs as the dollar rises

  

  Gold prices fell after rising to all-time highs earlier on Monday, but remained above the key $2,000 level supported by growing bets that the US central bank may cut interest rates early next year. Gold in spot transactions fell 0.4 percent to $2,062.80 an ounce by 0823 GMT. US gold …

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• 4 December 2023 12:54 pm

  Nikkei falls to its lowest level in 3 weeks as the yen rises

  

  Japan’s Nikkei fell to its lowest levels in nearly three weeks on Monday, as a stronger yen hurt exporters’ earnings expectations while automakers led the declines. The Nikkei closed trading down 0.6 percent, recording 33,231.27 points, after earlier declining by 1.22 percent to 33,023.04 points for the first time since …

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• 4 December 2023 11:29 am

  Gold prices reach all-time highs

  

  Gold prices rose to an all-time high above $2,100 an ounce on Monday as comments from Federal Reserve Chairman Jerome Powell boosted traders’ confidence that the US central bank may cut interest rates early next year. Lower interest rates reduce the opportunity cost of holding non-interest-bearing yellow metal. By 05:30 …

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• 4 December 2023 10:34 am

  Oil declines as uncertainty persists over OPEC+ cuts

  

  Oil futures reversed course after briefly rising on Monday amid continued pressure from the OPEC+ decision and uncertainty over global fuel demand growth, but risks of supply disruptions due to conflict in the Middle East limited losses. By 0406 GMT, Brent crude futures fell 49 cents, equivalent to 0.4 percent, …

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• 4 December 2023 1:10 am

  Financial Markets’ Weekly Recap, Nov. 27 – Dec. 1

  

  Gold prices surged to a six-month high in current trading, driven by the decline of the US dollar and the belief that the Fed is ending its interest rate hike cycle, contributing to the positive momentum in the precious metal.Gold’s PerformanceGold prices surged to a new multi-month high of $2060.62 …

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• 2 December 2023 1:55 am

  Gold surges to a seven-month high, amid Powell’s comments

  

  Reacting to Fed Chair Jerome Powell’s speech, the price of gold immediately surged to a new multi-month high of $2060.62. The precious metal even extended its gains later on the day and is trading at 2071.15 per ounce at the time of writing, gaining $35.05, and thereby up by 1.72%. …

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• 1 December 2023 10:57 pm

  Wall Street finds footing as Powell dampens rate cut bets

  

  After their November surge, stocks begin December strongly. After a record-breaking month, US stocks increased on Friday as investors processed comments made by Federal Reserve Chair Jerome Powell, who cautioned against drawing the premature conclusion that rate hikes by the Fed are done or speculating about when cuts might take …

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• 1 December 2023 10:03 pm

  GBP/USD rallies amid Fed’s easing bets, softer dollar

  

  After hitting a daily low of 1.2609, the GBP/USD pair increased by more than 90 pip, or 0.70%, in the latter part of Friday’s North American session. The Greenback suffered as a result of more than 100 basis points of rate cuts by the Fed the following year due to …

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• 1 December 2023 9:05 pm

  USD/JPY dips on weak US PMI, Powell speech

  

  USD/JPY experiences a 0.52% decline in the North American session. A lower-than-expected ISM manufacturing reading for November weighed on the US Dollar.Fed Chair Jerome Powell acknowledges some easing in inflation but emphasizes that core inflation remains high and monetary policy decisions will be data dependent.The USD/JPY trims some of its …

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• 1 December 2023 8:17 pm

  EUR/USD’s return below 1.0915 could herald a deeper pullback

  

  The EUR/USD pair declined below the 1.09 mark. Economists at Société Générale analyze the pair’s outlook. At the time of writing, the pair is trading at 1.08548, down −0.00303 by almost −0.28%The pace of EUR/USD appreciation should be gradual. The 10Y Bund dropped to 2.395%, extending the correction to 60 …

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• 1 December 2023 7:32 pm

  US: ISM Manufacturing PMI for November unchanged

  

  ISM Manufacturing PMI remained at 46.7 in November. US Dollar Index trimmed daily gains and fell to 103.50. The economic activity in the US manufacturing contracted in November, for the 12th consecutive month, with the ISM Manufacturing PMI at 46.7, unchanged from October. This reading came in worse than the …

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• 1 December 2023 4:36 pm

  The British Prime Minister intends to support efforts to combat climate change with two billion dollars

  

  British Prime Minister Rishi Sunak is set to announce a funding commitment of £1.6 billion (approximately $2 billion) during the United Nations Climate Change Conference (COP28) summit on Friday. The announcement aims to underscore the UK’s commitment to climate change mitigation efforts after easing some measures to achieve emission reduction …

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