Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 5 December 2023 10:39 pm

  Explainer: How could Moody’s warning affect China’s economy?

  

  Moody’s has downgraded China’s sovereign credit rating to negative, citing growing growth risks and a property sector crisis in the world’s second-largest economy. The downgrade follows a month-long lower of the US’s triple-A credit rating, indicating a growing likelihood of default over the past year. The AUD/USD pair was up …

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• 5 December 2023 9:50 pm

  Gold down after diving $100 in two days on stronger US dollar

  

  Gold’s $100 two-day decline challenges the metal’s reputation as a safe haven in the face of growing dollar appeal. The US Dollar Index rises 0.29% to 103.93, indicating a change in the way the market views the dollar. Following an unexpectedly high ISM Non-Manufacturing PMI of 52.7, the US economy …

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• 5 December 2023 9:06 pm

  US stocks mixed on slowing US labour market demand

  

  US stocks were mixed on Tuesday following the release of fresh jobs data by the US Bureau of Labour Statistics. Tech stocks reversed earlier losses, leading the mid-morning session with the Nasdaq Composite up about 0.6%. The benchmark S&P 500 inched more than 0.1% higher, while the Dow Jones Industrial …

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• 5 December 2023 8:11 pm

  US JOLTS Job Openings fall below estimates to 8.7 million in October

  

  The number of job openings on the last business day of October stood at 8.7 million, the US Bureau of Labor Statistics (BLS) reported in the Job Openings and Labor Turnover Survey (JOLTS) on Tuesday. This reading followed 9.35 million (revised from 9.55 million) openings in September and came in …

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• 5 December 2023 7:29 pm

  Oil’s losses extended for fourth day amid OPEC+ uncertainty

  

  The US Crude Oil benchmark, WTI, has extended its losses for four consecutive days due to factors such as the Greenback’s recovery and demand concerns countering supply worries. The benchmark is trading at $72.72 per barrel, down 0.41%. In the latest OPEC+ meeting, members agreed to output cuts of 2.2 …

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• 5 December 2023 7:00 pm

  US ISM Services PMI slightly rises in November

  

  The US ISM Service PMI Index increases to 52.7 in November from 51.8 in October. The US dollar slides after JOTLS report and ISM Service PMI.Economic activity in the services sector expanded in November for the 11th consecutive month. The ISM Services PMI stood at 52.7, up from 51.8 in …

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• 5 December 2023 3:30 pm

  European stocks decline, affected by a decline in financial sector stocks

  

  European stocks fell on Tuesday, affected by a decline in financial sector stocks after Qatar reduced its stake in Barclays Bank, while investors remained cautious ahead of important economic data later on Tuesday. The European STOXX 600 index fell 0.1 percent by 8:12 GMT. Barclays shares fell 3.3 percent a …

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• 5 December 2023 2:11 pm

  Nikkei records its largest daily loss in about 6 weeks

  

  Japan’s Nikkei index recorded its biggest daily decline in about six weeks on Tuesday, as rising US Treasury yields led to heavy selling in shares of Advantest and other chip-related companies. The Nikkei fell 1.37 percent to close at 32,775.82 points on Tuesday, the largest daily decline since October 26. …

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• 5 December 2023 12:53 pm

  Oil settles amid OPEC+ cut-linked doubts

  

  Oil prices witnessed little change on Tuesday amid uncertainty over the OPEC+ alliance’s voluntary production cuts, continued tension in the Middle East, and weak economic data from the United States. By 0402 GMT, Brent oil futures fell one cent to $78.02 a barrel, while US West Texas Intermediate crude futures …

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• 5 December 2023 1:16 am

  Oil retreats amid skepticism over OPEC+ potential output cuts

  

  Oil prices fell on Monday due to traders’ wait-and-see attitude towards OPEC and its allies’ plans to cut production in the first quarter of 2024. Fears of a drop in demand also put pressure on prices. Brent crude futures settled down 85 cents or 1.08% at $78.03 a barrel, while …

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• 5 December 2023 1:00 am

  Market Drivers – US Session, Dec. 4

  

  On a turbulent day, the US Dollar Index increased on Monday, closing at its highest level since November 23. The Greenback recovered during a reversal in commodities and higher Treasury yields, after beginning the week under pressure. Shortly before important US data, the DXY increased from around 103.00 to 103.80.The …

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• 5 December 2023 12:47 am

  What’s ahead for Bitcoin’s price after getting closer to $42,000?

  

  Investors were hoping for a spot BTC ETF approval in January over the weekend. Altcoins such as Axie Infinity’s AXS tokens, ApeCoin’s APE, and Enjin Coin’s ENJ have all seen a surge in value since the release of the GTA 6 trailer. Illuvium’s ILV token and Aptos’ APT token, which …

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• 5 December 2023 12:29 am

  RBA to maintain hawkish stance on easing pressure of global Inflation

  

  Australia’s central bank is about to restart a pause in rate hikes as new data indicates that inflation and home price growth are slowing down, supporting earlier tightening. Most economists predict that the Reserve Bank of Australia (RBA) will maintain its cash rate at a 12-year high of 4.35% on …

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