Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2022

• 8 December 2022 3:46 pm

  SOMO data shows that Iraq’s oil production declined in November in line with its share in OPEC+

  

  Data from the Iraqi State Oil Marketing Company (SOMO), seen by Reuters on Thursday, showed that Iraq produced 4.43 million barrels per day of crude oil in November, down 221 thousand from October. These figures show that Iraq’s crude production is in line with its quota under the OPEC + …

  Read More »
• 8 December 2022 2:29 pm

  European stocks are falling under pressure from telecom and utilities stocks

  

  European stocks fell on Thursday, pressured by falling utilities and telecom stocks amid growing fears of an imminent recession. The Stoxx 600 index was down 0.1 percent by 0815 GMT. The index fell for the fourth consecutive session on Wednesday amid growing fears of slowing economic growth ahead of a …

  Read More »
• 8 December 2022 2:08 pm

  Dollar is recovering some of its losses amid continuing recession fears

  

  On Thursday, the dollar recouped some of the losses it posted the day before, as investors focused on expectations of the Federal Reserve’s monetary policy path amid fears that higher interest rates could trigger a recession. With the Bank of Japan holding long-term bond yields near zero, the yen weakened …

  Read More »
• 8 December 2022 12:50 pm

  Oil prices are rising after reaching their lowest levels in 2022

  

  Oil prices recovered in early Asian trade on Thursday after tumbling to their lowest level this year, as production and gasoline inventories rose in the United States as concerns grew that an economic slowdown could weaken demand for fuel. Brent crude futures rose $1 to $78.17 a barrel, by 0600 …

  Read More »
• 8 December 2022 12:29 pm

  Nikkei ends transactions near the lowest level in a month affected by economic concerns

  

  The Japanese Nikkei index ended Thursday’s transactions near the lowest level in a month, affected by a weak closing of Wall Street amid economic concerns, as well as the results of companies’ business. The Nikkei fell 0.4 percent to close at 27,574.43 points, its lowest closing level since November 10. …

  Read More »
• 8 December 2022 4:16 am

  Market Drivers – US Session 07/12/2022

  

  The US dollar recorded fresh losses on Wednesday against most of major rival currencies. The dollar’s decline was contained, but it is obvious that further declines are probable.Earlier in the day, China announced a series of measures easing Covid-linked restrictions. The US Treasury yield curve inverted the most in over …

  Read More »
• 8 December 2022 2:03 am

  WTI touch fresh daily lows on accelerating recession woes

  

  West Texas Intermediate has fallen to the lowest in nearly one year. Recession-linked concerns dominate the market sentiment and the Fed’s rate decision next week is awaited with all open eyes.The American crude fell to the lowest in nearly a year on Wednesday despite the good news in China’s steps …

  Read More »
• 8 December 2022 1:00 am

  Credit Suisse’s Pozsar: Gold price could double to $3,600 in this case

  

  According to Credit Suisse’s Zoltan Pozsar “gold could double to $3,600 per ounce if Russia responds to G7’s oil price cap by a decision accepting gold for crude oil amid what he has described as unthinkable macro scenarios”.Pozsar further noted that a year-end money-market liquidity crunch is probable if Russia …

  Read More »
• 7 December 2022 11:55 pm

  AUD/USD bulls stay the course as US Dollar slides

  

  The AUD/USD pair holds on positive performance despite risk aversion. The Australian economy expanded less than expected in the third quarter, so investors’ eyes are still on the economic data.The AUD/USD pair is higher on the day having climbed from a low of 0.6668 and reaching a high of 0.6734 …

  Read More »
• 7 December 2022 10:47 pm

  GBP/USD edges higher despite risk aversion

  

  Weaker than expected economic data in China threatens to derail economic growth and trigger risk aversion. The US central bank seems pressured by Solid US economic data released since last Friday ahead of the awaited US inflation data.The GBP/USD pair is upward biased, and could even test Tuesday’s high of …

  Read More »
• 7 December 2022 9:40 pm

  Wall Street lower on mounting recession worries

  

  Wall Street’s main indexes opened lower on Wednesday as warnings of a looming recession from major Wall Street bankers offset optimism around China relaxing its strict zero-COVID rules.The Dow Jones Industrial Average fell 39.9 points, or 0.12%, at the open to 33556.4. The S&P 500 fell 8.0 points, or 0.20%, …

  Read More »
• 7 December 2022 8:42 pm

  USD/CAD slides following BoC’s rate decision

  

  The USD/CAD falls during the US tgrading session after the Bank of Canada hiked rates by 50 bps, from 3.75% to 4.25%, in line with analysts’ expectations, triggering a fall from around 1.3700 to 1.3505. At the time of writing, the USD/CAD remains volatile, trading around 1.3600-1.3615.The Bank of Canada …

  Read More »
• 7 December 2022 7:48 pm

  Putin: Threat of nuclear war is on the rise

  

  Russian President Vladimir Putin said on Wednesday that the threat of a nuclear war is on the rise. Putin’s comments do not seem to be having a significant impact on risk appetite. At the time of writing, the performance of S&P 500 Index is unchanged on the day at 3,940.Putin …

  Read More »