Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 30 November 2023 3:15 pm

  Oil is stable as the market awaits the OPEC+ meeting

  

  There was little change in oil prices on Thursday, as investors continued to remain cautious ahead of expected production cuts from the OPEC+ alliance, while Chinese factory data showed slowing growth in the world’s second-largest economy. By 0740 GMT, Brent crude futures increased 13 cents, or 0.2 percent, to $83.23 …

  Read More »
• 30 November 2023 1:22 pm

  European stocks rise thanks to mining and energy companies ahead of key inflation readings

  

  European stocks rose on Thursday, led by mining and energy stocks, as investors awaited headline inflation levels in the United States and the euro zone that could support expectations of global interest rates peaking. The European STOXX 600 index rose 0.1 percent by 0810 GMT, achieving its largest monthly gain …

  Read More »
• 30 November 2023 12:49 pm

  Turkish Finance Minister: Economic growth will slow in the coming period

  

  Turkish Finance Minister Mehmet Simsek said that the data released on Thursday showed that the Turkish economy grew by 5.9 percent in the third quarter, which is more than expected, and is encouraging, but this growth will slow in the coming period. “Economic growth is strong and this is encouraging,” …

  Read More »
• 30 November 2023 12:12 pm

  Gold consolidates ahead of US inflation test

  

  Gold prices steadied on Thursday and moved in a narrow range, hovering near the highest level in nearly seven months, with investors awaiting a key reading on inflation to determine whether US interest rate cuts will come sooner than expected. By 0543 GMT, gold in spot transactions fell 0.1 percent …

  Read More »
• 30 November 2023 2:03 am

  Market Drivers – US Session, Nov. 29

  

  Although it recovered somewhat from monthly lows, the US Dollar Index (DXY) was still under pressure. In the third quarter, the US economy grew at an annualized rate of 5.2%, which was higher than the previous estimate of 4.9%. The US will release important data on Thursday, such as the …

  Read More »
• 30 November 2023 1:11 am

  Inflation, other factors could trigger global economic slowdown in 2024

  

  The Organization for Economic Cooperation and Development (OECD) is expecting international growth to slow down to 2.7% in 2024, the slowest annual growth since 2020’s pandemic.The combination of rising interest rates, high inflation, and wars is predicted to cause the world economy to contract in 2019. The OECD forecasts that …

  Read More »
• 30 November 2023 12:26 am

  Euro continues to lose ground against the Sterling

  

  As the Euro declines in value relative to the Pound Sterling, the Euro/GBP is testing 0.8640. Consumer confidence in the eurozone does not change, but the business outlook does. The Euro is expected to lose ground to the Pound Sterling, setting up the pair for a fifth day of losses …

  Read More »
• 29 November 2023 11:48 pm

  Crude ignores US oil stockbuild, rises ahead of OPEC+ meeting

  

  Oil prices rose more than $1 a barrel on Wednesday as investors focused their attention on an upcoming OPEC+ output policy meeting and looked past a jump in US crude, gasoline and distillate stockpiles. Brent crude futures were up $1.01, or 1.2%, to $82.69 a barrel by 1:34 p.m. ET …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »