Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 16 December 2023 2:43 am

  Market Drivers – US Session, Dec. 15

  

  The price of WTI oil fell as low as $70.65 in the afternoon and then slightly increased to $72.00. This week, WTI might revert to the opening bids because of intricate technical issues and a danger prompted by the Fed’s dovishness. Global oil demand is declining more swiftly than OPEC’s …

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• 16 December 2023 1:29 am

  Dollar consolidates before closing worst week since November

  

  The Dollar Index shows resilience despite the worst weekly performance over one month, hovering at 102.60. The dollar was lifted by strong S&P Global Services PMI figures from December.Dovish bets on the Fed may limit the upward movement. The dollar, measured by the DXY index, is trading at 102.60, posting …

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• 16 December 2023 12:47 am

  How could record gold prices impact China’s economy?

  

  In recent weeks, gold prices have reached all-time highs. Due to its dual function as a store of wealth and a hedge against inflation, the price of gold has a special place in the financial markets.Although gold has broken several records since the COVID crisis began, the recent surge in …

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• 15 December 2023 11:36 pm

  After crisis, Germany approves 2023 supplementary budget

  

  Germany has approved the 2023 supplementary budget, suspending a self-imposed cap on borrowing after a constitutional court ruling last month. The budget was approved with 392 votes in favor and 274 against in parliament’s lower house, and the upper house also passed the law on the supplementary budget with no …

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• 15 December 2023 10:59 pm

  BoC Macklem: Still too early to consider cutting interest rate

  

  Governor of the Bank of Canada Tiff Macklem said that unless the central bank is certain that the economy is returning to price stability, it is still too soon to think about cutting interest rates. The USD/CAD pair was last seen at 1.3372 and was headed for its lowest weekly …

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• 15 December 2023 9:47 pm

  Wall Street Expects Oil Price To Recover In 2024

  

  According to Wall Street analysts, there is a chance that oil prices could possibly rebound in the upcoming year, though probably not much. Five major banks have projected that the global benchmark Brent will average roughly $85 per barrel in 2024, down from its current level of $77.Goldman Sachs Group …

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• 15 December 2023 8:50 pm

  US stocks head toward seventh straight week with gains

  

  US stocks are currently hovering around their record highs. They are poised to end the longest weekly winning streak in six years. With a 0.1% decrease in morning trade, the S&P 500 is now 1.7% behind its all-time high from early in the previous year. The Dow Jones Industrial Average, …

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• 15 December 2023 7:53 pm

  Euro extends reversal as US dollar boosted by Fed Williams

  

  The Euro has reversed its direction on Friday’s early US session as Federal Reserve President and CEO, John Williams, cooled hopes of interest rate cuts in March. This was offset by a downbeat US NY Empire State Manufacturing Index, which fell to -14.5 its lowest level in the last 7 …

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• 15 December 2023 5:54 pm

  Eurozone Contraction Fuels Currency Market Worries, Dollar Under Pressure

  

  On December 15, today’s economic data paints a concerning picture of ongoing contraction in industrial activity across Europe. S&P Global’s industrial purchasing managers’ data reveals a persistent downturn, holding steady at 44.2 in the eurozone for December, matching November’s level, contrary to the expected 44.5. In addition, the services purchasing …

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• 15 December 2023 2:34 pm

  European stocks rise heading for a weekly gain

  

  Energy and mining stocks led European stocks to rise on the last day of a week filled with major central bank decisions on monetary policy, as the US Federal Reserve set the tone for market expectations regarding the prospects for lowering interest rates. By 0805 GMT, the European STOXX 600 …

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• 15 December 2023 1:50 pm

  Dollar declines amid increasing possibilities of a US interest rate cut

  

  The dollar is on track to record its largest weekly decline against other major currencies since July, affected by the increasing possibility of a cut in US interest rates next year, while the euro and the pound received support on Friday as central banks in Europe continue their tendency to …

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• 15 December 2023 12:33 pm

  The Japanese Nikkei rises

  

  Japan’s Nikkei index achieved gains on Friday, supported by the cessation of the yen’s rise, which was affecting the earnings expectations of exporting companies. The Nikkei ended Friday’s session up 0.87 percent to 32,970.55, recording a weekly gain of 2.05 percent, ending a series of losses for two consecutive weeks. …

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• 15 December 2023 12:09 pm

  Oil prices are heading to record first weekly gains in two months

  

  Oil prices rose in early Asian trading on Friday and are on track to record their first weekly gains in two months, benefiting from the decline in the dollar and optimistic expectations from the International Energy Agency about oil demand next year. Brent crude futures rose nine cents to $76.70 …

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