Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2022

• 8 December 2022 11:43 pm

  BoC’s Kozicki: Future rate decisions to rely more on data

  

  Deputy BoC Governor Sharon Kozicki said on Thursday that the Bank of Canada will study the latest economic data to find out direction and accordingly decide whether or not to raise interest rates, adding it would move forcefully if necessary.At the time of writing. USD/CAD pair trades at 1.3583, namely …

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• 8 December 2022 9:20 pm

  Gold Prices Rallies Amid Trending Slower Pace of Interest Hiking

  

  GOLD prices rallied on Thursday, erasing this week’s previous 1.4% drop in Dollar terms as the US currency retreated once more on the FX market ahead of next week’s expected slowdown in Federal Reserve rate hikes, helping New York equities push higher despite a rise in longer-term interest rates in …

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• 8 December 2022 8:16 pm

  US stocks rise on Wall Street, but still lower for the week

  

  US stocks rose in morning trading on Wall Street Thursday, but are still lower for the week after five straight losses.The S&P 500 rose 0.9% as of 10:14 a.m. Eastern. The Dow Jones Industrial Average rose 244 points, or 0.7%, to 33,842 and the Nasdaq rose 1.2%.Energy stocks had some …

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• 8 December 2022 7:12 pm

  AUD/USD Benefits From Sliding Dollar

  

  The US Dollar falls across the board on Thursday, amid positive risk appetite. The AUD/USD pair strengthens after breaking 0.6750, trims weekly losses. US Initial Jobless Claims rise to 230K and Continuing Claims hit fresh monthly highs.The US dollar’s decline boosted the AUD/USD pair that broke above 0.6745. It hit …

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• 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 + …

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• 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 …

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• 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 …

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• 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 …

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• 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. …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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