Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2023

• 4 December 2023 10:54 pm

  USD/JPY gains on climbing US 10-year bond yields

  

  Because of the general strength of the US dollar and high US yields, the USD/JPY is rising. The US Federal Reserve’s expected rate cut had been reassessed.A look at upcoming US data, the ISM Services PMI, and job openings on JOLTs. Although it stays below the Ichimoku Cloud (Kumo), which …

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• 4 December 2023 9:48 pm

  Canadian dollar struggles to stop further declines

  

  As the US Dollar sees a broad-market recovery on the back of renewed risk aversion, the Canadian Dollar gave up some of its gains from the previous week. On Monday, the Canadian dollar is down about 0.3 percent versus the US dollar. The Canadian Dollar is facing downside pressure as …

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• 4 December 2023 9:28 pm

  GBP/USD slipping back as Sterling loses steam

  

  The GBP/USD has fallen by nearly eight-tenths of a percent on Monday, as investors retreated into safe havens due to a global slowdown. The Pound Sterling has shed three-quarters of a percent against the US Dollar, while the rest of the FX market is facing a risk-off bid from the …

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• 4 December 2023 8:27 pm

  Why has gold abandoned all-time high?

  

  Gold price has reached an all-time high on Monday, driven by the US dollar’s decline and traders’ bets that the Fed will cut interest rates next year. Gold is trading at $2025.21 at the time of writing. Earlier on Monday, gold price surged up to 3% to $2135 per ounce, …

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• 4 December 2023 7:36 pm

  Euro Retreats to three-week lows

  

  The Euro lost ground against the US Dollar, causing it to retreat to three-week lows around the 1.0820 TERRITORY at the beginning of the trading week. However, the dollar is enjoying buying interest around 103.70, flirting with the area of multi-session tops and surpassing the key 200-day SMA. The Euro …

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• 4 December 2023 4:29 pm

  Dollar recovers some of its gains and Bitcoin exceeds $41,000

  

  The dollar rose on Monday, regaining some gains after declining for three consecutive weeks due to bets that the Federal Reserve (the US central bank) will cut interest rates soon, while Bitcoin exceeded $41,000 for the first time since early 2022. In the latest trading, the euro fell 0.1 percent …

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• 4 December 2023 3:21 pm

  European stocks decline, driven by a decline in mining and energy companies

  

  European stocks fell on Monday after strong gains last week driven by increased bets on a cut in interest rates, with mining and energy stocks falling on weak commodity prices. The European STOXX 600 index fell 0.1 percent by 0810 GMT after touching the highest level in four months on …

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• 4 December 2023 2:28 pm

  Gold retreats from all-time highs as the dollar rises

  

  Gold prices fell after rising to all-time highs earlier on Monday, but remained above the key $2,000 level supported by growing bets that the US central bank may cut interest rates early next year. Gold in spot transactions fell 0.4 percent to $2,062.80 an ounce by 0823 GMT. US gold …

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• 4 December 2023 12:54 pm

  Nikkei falls to its lowest level in 3 weeks as the yen rises

  

  Japan’s Nikkei fell to its lowest levels in nearly three weeks on Monday, as a stronger yen hurt exporters’ earnings expectations while automakers led the declines. The Nikkei closed trading down 0.6 percent, recording 33,231.27 points, after earlier declining by 1.22 percent to 33,023.04 points for the first time since …

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• 4 December 2023 11:29 am

  Gold prices reach all-time highs

  

  Gold prices rose to an all-time high above $2,100 an ounce on Monday as comments from Federal Reserve Chairman Jerome Powell boosted traders’ confidence that the US central bank may cut interest rates early next year. Lower interest rates reduce the opportunity cost of holding non-interest-bearing yellow metal. By 05:30 …

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• 4 December 2023 10:34 am

  Oil declines as uncertainty persists over OPEC+ cuts

  

  Oil futures reversed course after briefly rising on Monday amid continued pressure from the OPEC+ decision and uncertainty over global fuel demand growth, but risks of supply disruptions due to conflict in the Middle East limited losses. By 0406 GMT, Brent crude futures fell 49 cents, equivalent to 0.4 percent, …

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• 4 December 2023 1:10 am

  Financial Markets’ Weekly Recap, Nov. 27 – Dec. 1

  

  Gold prices surged to a six-month high in current trading, driven by the decline of the US dollar and the belief that the Fed is ending its interest rate hike cycle, contributing to the positive momentum in the precious metal.Gold’s PerformanceGold prices surged to a new multi-month high of $2060.62 …

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• 2 December 2023 1:55 am

  Gold surges to a seven-month high, amid Powell’s comments

  

  Reacting to Fed Chair Jerome Powell’s speech, the price of gold immediately surged to a new multi-month high of $2060.62. The precious metal even extended its gains later on the day and is trading at 2071.15 per ounce at the time of writing, gaining $35.05, and thereby up by 1.72%. …

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