Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 10 November 2023 7:52 pm

  AUD/USD ends week lower, pressured by RBA’s stance, Powell’s hawkishness

  

  The Australian Dollar (AUD) has experienced a significant drop in value, with the AUD/USD pair dropping 0.12% for the day and extending its losses throughout the week. The RBA’s 25 bps rate hike under new Governor Michele Bullock’s leadership failed to provide a bullish impetus for the Aussie, and Fed …

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• 10 November 2023 6:25 pm

  US Dollar reacts to Powell’s hawkish remarks, technical outlook uncertain

  

  Traders were taken by surprise as Federal Reserve Chairman Jerome Powell delivered unexpectedly hawkish remarks, causing the US Dollar (USD) to initially surge, but subsequently ease during European trading on Friday. Powell’s comments deviated from market expectations of upcoming rate cuts, creating a contrasting picture to earlier dovish statements made …

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• 10 November 2023 4:15 pm

  Gold price struggles as Fed endorses tightening policy, US inflation data awaited

  

  In the near term, the price of gold (XAU/USD) has fallen sharply to around $1,950 after a brief recovery. This decline is driven by the strong inclination of Federal Reserve policymakers to tighten monetary policy further. Federal Reserve Chair Jerome Powell supports tightening policy and emphasizes the need for a …

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• 10 November 2023 2:29 pm

  Dollar is heading for its best week against the yen in 3 months

  

  The dollar is headed for its best week against the yen in three months on Friday after Federal Reserve Chairman Jerome Powell and a group of US central bank officials dashed market expectations that interest rates had peaked. As for cryptocurrencies, Bitcoin and Ether settled near their highest levels in …

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• 10 November 2023 1:38 pm

  European stocks fell as the US Federal Reserve undermined hopes that interest rates would reach their peak

  

  European stocks fell on Friday, pressured by rising bond yields, and comments by Federal Reserve Chairman Jerome Powell undermined investors’ hopes that interest rates would peak. The European STOXX 600 index fell 0.4 percent by 0810 GMT, but is still heading for gains for the second week. Fed officials, including …

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• 10 November 2023 1:51 am

  WTI trapped as US Crude Oil production hits all-time high

  

  Crude Oil saw a minor relief bid on Thursday before getting pushed back down. WTI ticked into $77.00 before slipping back to $75.00. US hits all-time highs on Crude Oil production.WTI Crude Oil continues to get pushed into recent lows as barrel bids struggle to find the floor on bearish …

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• 9 November 2023 11:27 pm

  Gold reshine on positive market sentiment, softer jobs data

  

  Gold prices have rebounded from their weekly lows, marking a 0.43% increase, as traders digest the latest US jobless claims report. The Federal Reserve’s divided stance and the anticipation of Chairman Powell’s speech keep investors on edge, with a dovish tilt currently in the lead. Geopolitical tensions following the Hamas …

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• 9 November 2023 10:29 pm

  How Is Russia using gold to avoid sanctions?

  

  Russia is utilizing gold to get around sanctions put in place following its invasion of Ukraine, according to a red alert issued by the UK National Crime Agency (NCA) to the financial industry. According to the NCA, concerted efforts are being made to launder gold that has been sanctioned in …

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• 9 November 2023 9:38 pm

  Wall Street still stuck as oil recovers from sharp losses

  

  After recent fluctuations, Wall Street appears to be mostly neutral. The Standard & Poor’s 500 is expected to have a quiet, mixed day for the fourth straight day, with early trading remaining unchanged. Nearly flat on the Nasdaq composite, the Dow Jones industrial average was up 11 points, or less …

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• 9 November 2023 8:21 pm

  Fed’s Barkin: Fed pondering whether more to be done

  

  Richmond Federal Reserve Bank President Thomas Barkin said on Thursday it remains to be seen whether the Fed needs to tighten the policy further.The US Dollar showed no immediate reaction to these comments. At the time of press, the US Dollar Index was virtually unchanged on the day at 105.50.Key …

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• 9 November 2023 7:06 pm

  US dollar weakened on dovish comments by Fed officials

  

  Due to dovish remarks made by Fed officials, the US dollar has declined, and the Dollar Index (DXY) has only halfway recovered. The dollar’s recovery from last week’s weakness is only halfway complete, as indicated by the Dollar Index (DXY). Later on Thursday, traders will be watching for cues and …

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• 9 November 2023 5:10 pm

  Ukraine: The alternative export corridor in the Black Sea is operating despite the Russian attack

  

  Ukraine’s alternative export corridor in the Black Sea is still operational despite the recent Russian attack on a Ukrainian civilian ship, Ukrainian Deputy Prime Minister Oleksandr Kubrakov said on Thursday, November 9. Ukrainian officials said on Wednesday that a Russian missile damaged a civilian ship flying the Liberian flag that …

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• 9 November 2023 3:05 pm

  Gold is approaching a 3-week low ahead of Powell’s comments

  

  Gold approached its lowest level in three weeks on Thursday, November 9, as demand for safe havens resulting from the conflict in the Middle East faded, while investors awaited the Federal Reserve Chairman’s statements seeking more evidence on interest rates. Gold fell in instant transactions by 0.1% to $1,948.39 per …

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