Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2022

• 2 December 2022 10:39 am

  Gold is heading towards the best weekly performance in three weeks

  

  Gold prices fell on Friday before the announcement of important US jobs data. However, they are still on track to record the best weekly performance in three weeks, with the dollar weakening due to expectations of a slowdown in the rate hike at the Federal Reserve and indications of declining …

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• 2 December 2022 10:12 am

  Oil is falling but still in the way to record weekly gains

  

  Oil prices fell in early Asian trade on Friday after the dollar recovered some of its losses, while the easing of anti-COVID-19 restrictions in two Chinese cities limited losses. By 0128 GMT, Brent crude futures fell 11 cents, or 0.1 percent, to $86.77 a barrel, while West Texas Intermediate crude …

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• 2 December 2022 3:12 am

  Market Drovers -US Session 1/12/2022

  

  The US Dollar kept extending its decline to multi-month lows against most of its major rivals amid persistent optimism and weak US data, in addition to the general mood triggered by Fed’s signls concerning tightening the US monetary policy at a slower pace.On Friday, the US will publish the Nonfarm …

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• 2 December 2022 1:00 am

  Dollar Falls, Wall Street Mixed Ahead of NFP data

  

  The performance of US shares is mixed on Thursday as a selloff in Salesforce impacted the Dow Jones, while traders are busy; digesting a fresh batch of US economic data which generally indicate that the Fed’s interest rate hikes are working towards their aspired target.On Wednesday, US manufacturing activity shrank …

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• 1 December 2022 11:45 pm

  NFP Preview: Jobs could surge by 208,000

  

  On Friday, all eyes will be on the US non-farm payrolls reading during the first week of a new month. The all-important data will be attentively watched by all market players to see whether the aggressive rate-rising policy of the US central bank is knocking the labour market which has …

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• 1 December 2022 10:23 pm

  USD/CAD fluctuates following US manufacturing data

  

  The USD/CAD pair stopped its slump following US data that signaled further retreating economic activity in United States.The weaker-than-expected US ISM Manufacturing PMI triggered a fresh wave of Risk aversion in addition to comments by Fed’s Bowman who said there’s work to do by the US central bank.The USD/CAD pair …

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• 1 December 2022 8:52 pm

  Estonia’s Hawkish stance pressured amid talks to cap Russian oil

  

  Estonia is holding a hawkish stance insisting that capping the prices of oil to a level could have no impact on Russia’s war.Estonia is pressured by other EU member states in order not to go forward with the nation’s threat to veto a US-proposed cap on the price of Russian …

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• 1 December 2022 7:53 pm

  ISM Manufacturing PMI drops to 49 in November vs. 49.8 expected

  

  The ISM Manufacturing PMI dropped into contraction territory below 50 in November according to the latest data released on Thursday.US Dollar Index continues to push lower, losing more than 1% on the day. The Dollar seems under constant selling pressure following this report and the US Dollar Index was last …

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• 1 December 2022 7:05 pm

  US Dollar Is Losing On Comments By Fed’s Bowman

  

  Fed Governor Michelle Bowman said on Thursday that the headline and core inflation slightly slowed down but the latest readings are still unsatisfactorily high. Bowman also expects ongoing increases in rate hikes at coming meetings. According to her, policymakers still have a lot of work to do but it is …

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• 1 December 2022 5:44 pm

  US annual Core PCE inflation declines to 5% in October

  

  Inflation in the US, as measured by the Personal Consumption Expenditures (PCE) Price Index, declined to 6% on a yearly basis in October from 6.3% in September, the US Bureau of Economic Analysis announced on Thursday. This reading came in below the market expectation of 6.2%. The annual Core PCE …

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• 1 December 2022 3:59 pm

  UK house prices are falling at the fastest rate since mid-2020

  

  UK house prices fell more than expected in November, as rising borrowing costs affected market sentiment. British home prices fell by 1.4% in November, which is the largest monthly decline since June 2020, according to data from the Nationwide mortgage lender. On an annual basis, house price growth in the …

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• 1 December 2022 3:56 pm

  German Retail Sales plunge by 5.0% YoY in October

  

  Germany’s Retail Sales decreased by 2.8% MoM in October versus -0.6% expected and 0.9% previous, the official figures released by Destatis showed on Thursday. On an annualized basis, the bloc’s Retail Sales came in at -5.0% in October versus the -2.8% expected and a 0.9% drop recorded in September. The …

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• 1 December 2022 2:24 pm

  European stocks rise, supported by Powell’s speech and hopes of easing restrictions in China

  

  European stocks rose to their highest levels in three months on Thursday, supported by the Federal Reserve chairman’s indication that the pace of rate hikes will be lowered, as well as China’s softening of its rhetoric on strict anti-Covid-19 rules. The Stoxx 600 was up 0.9% by 0810 GMT, after …

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