Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2023

• 6 November 2023 2:25 pm

  European stocks stabilize after a strong week

  

  European shares steadied on Monday after the benchmark index posted its biggest weekly jump since March, while Ryanair shares had their best performance in a month after record annual profits. The European STOXX index rose 0.1 percent by 0810 GMT after jumping more than three percent last week, with investors …

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• 6 November 2023 2:05 pm

  Dollar declines amid expectations of stopping US interest rate hikes

  

  Major currencies stabilized on Monday as investors braced for continued dollar losses that began at the end of last week after the Federal Reserve eased its statements indicating monetary tightening. The dollar index fell 0.08 percent to 104.99, and the euro rose 0.08 percent to $1.0738. The dollar index fell …

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• 6 November 2023 11:10 am

  Oil Prices Rise as Saudi Arabia and Russia Extend Production Cuts Amid Geopolitical Tensions

  

  In a move to maintain a tight supply, the world’s largest oil exporters, Saudi Arabia and Russia, confirmed the extension of voluntary production cuts until the end of the year. Brent crude futures increased by 0.5 percent, reaching $85.30 per barrel, while US West Texas Intermediate crude rose to $81.05 …

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• 6 November 2023 8:38 am

  Financial Markets’ Weekly Recap

  

  After a very busy week, several economic data releases are expected to weigh on the performance of multiple assets and most prominently, the US Dollar Index with the beginning of the new trading week.Oil’s PerformanceWTI crude dropped to $80.70, a decrease of more than 2%. Soft labour market data was …

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• 4 November 2023 12:29 am

  Market Drivers – US Session, Nov. 3

  

  Wall Street’s major indexes reached session highs after regaining their 50-day moving averages. The softer October payrolls report boosted stocks, with the Dow Jones Industrial Average holding a 0.9% gain. The S&P 500 rose 1.3%, while the Nasdaq led by 1.6%. Small-cap Russell 2000 surged 3%, while Innovator IBD 50 …

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• 4 November 2023 12:15 am

  EUR/GBP retreats to fortnight low on Sterling’s recovery

  

  The clear winner for Friday is the Sterling. The EUR/GBP pair is retreating into 0.8660 despite the strengthening of the pound sterling on Friday. Next week’s economic schedule includes the UK GDP and EU retail sales in the latter half.As the market approaches the weekly closing bell, the EUR/GBP is …

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• 4 November 2023 12:03 am

  Fed’s Bostic sees no recession ahead

  

  “I may support holding rates for about 8 to 10 months”, Atlanta Fed’s Raphael Bostic said on Friday. Bostic added that monetary policy is in the right place given the economic outlook. He added he may support holding interest rates steady for about 8 to ten months. Bostic also mentioned …

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• 3 November 2023 11:28 pm

  WTI declines following disappointing US data

  

  WTI crude dropped to $80.70, a decrease of more than 2%. Soft labour market data was released by the US. Middle East tensions are reducing, which will help the price drop. The US economy, which consumes the most oil, is the primary cause of the steep losses in US crude …

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• 3 November 2023 10:40 pm

  Why is Yellen slammed concerning T-bonds?

  

  US Treasury Secretary Janet Yellen, who took office in January 2021, is accused of committing the worst mistake in the Department’s history when she “failed to issue cheap bonds before the Fed began its latest series of rate hikes,” which “paved the way for a debt catastrophe” and “exacerbated the …

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• 3 November 2023 9:10 pm

  EUR/USD soaring following weaker NFP data

  

  The 150K weaker US labour market and nonfarm payrolls data that fell short of the 180K estimates, on Friday, does much to refuel a significant rally in the EUR/USD pair’s performance. With hiring slowing down and unemployment rising, there is growing speculation about Fed rate cuts in H2 2024.Notwithstanding the …

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• 3 November 2023 7:56 pm

  Brent could test $80s lows if macro impact continues

  

  For the month of October, both crude oil and refined products have generally traded sideways. Analysts at Rabobank examine Brent’s prospects. Brent will at some point in Q4 2023 or Q1 2024 reach $100, but not on average. Brent is trading at $85.20 at the time of writing, as WTI …

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• 3 November 2023 6:49 pm

  US ISM Services PMI declines to 51.8 in October vs. 53 expected

  

  The US ISM Services PMI fell to 51.8 in October. The US Dollar Index stays deep in red territory below 105.50. Business activity in the US service sector expanded at a softening pace in October, with the ISM Services PMI declining to 51.8 from 53.6 in September.This reading came in …

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• 3 November 2023 5:51 pm

  US NFP data falls shy of forecasts

  

  The greenback slid sharply after the October non-farm payrolls report showed employment rising by 150k, underperforming estimates of 180k. Last month’s print was also revised down from 336k to 297k. Unemployment edged up to 3.9% from 3.8% as participation rates dipped to 62.7%. Meanwhile, wage inflation slowed slightly as average …

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