Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2022

• 7 December 2022 2:35 am

  EIA Expects US Power demand To Hit Record In 2022

  

  US power consumption is expected to hit a new record high this year as a logical result of the expanding economic activity and a particularly hot summer according to estimates by the US Energy Information Administration.On Tuesday, the EIA forecast that 2022 power demand in the United States will touch …

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• 7 December 2022 1:24 am

  Explainer: How Does CAD React To Expansion of Canada’s Economic Activity

  

  Fresh data has indicated expansion of Canadian economic activity at a faster pace in November and a measure of price pressures cooled according to Ivey Purchasing Managers Index (PMI) data, released on Tuesday.The seasonally adjusted index rose to 51.4 in November from 50.1 in October. The Ivey PMI measures the …

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• 7 December 2022 12:50 am

  China ponders downgrading Covid status

  

  Chinese authorities are considering downgrading Covid-19. This could be a positive for risk appetite on Wednesday in the financial markets that have been impacted on Tuesday by risk aversion.Global stocks had their third straight day of losses on Tuesday as investors felt perplexed on how long the Fed will maintain …

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• 7 December 2022 12:10 am

  Gold price swings as solid data justify Fed’s hawkish stance

  

  Gold price is recording a minimal advance, even though the US Dollar is surging. The stronger than expected US economic data would keep the Fed under pressure. A break below $1760 will exacerbate a fall to $1725; otherwise, a rally to $1786 is on the cards.Gold price turns positive after …

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• 6 December 2022 11:07 pm

  WTI slides 4% below $74.00 on risk aversion

  

  The widespread US recession-linked woes are playing into financial markets creating a risk-off mood. West Texas Intermediate crude is down over 4% on the day so far, falling back into the bearish trend once again and on the front side of what was momentary a counter-trendline. At the time of …

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• 6 December 2022 9:29 pm

  Switzerland ponders banning electric vehicles on energy

  

  Switzerland is pondering a ban on using electric vehicles in the country in order to address winter’s energy crisis. The government has passed a proposal to brace itself for an energy crisis this winter. But the country has not really put a ban on EVs as of yet, it has …

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• 6 December 2022 8:21 pm

  EUR/USD retreats despite positive Factory Orders in Germany

  

  Trade Balance data in the United States has indicated shows the deficit widening, a headwind for the US Dollar. Germany’s Factory Orders helped the Euro to hold buoyant amid low expectations, while December’s monetary policy meetings by the Fed and the ECB will help to keep the EUR/USD pair within …

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• 6 December 2022 7:27 pm

  US trade deficit for October records higher reading

  

  US October Goods and Services Trade Balance edged up to record -$78.2 billion in October. The US dollar Index stays in negative territory at around 105.00.The data jointly published by the US Census Bureau and the US Bureau of Economic Analysis revealed on Tuesday that the US international goods and …

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• 6 December 2022 7:05 pm

  Will the BoC raise rates?

  

  Going into the last BoC meeting short-term interest rate markets were split between a 50 and 75 bps rate hike. In the end, the BoC hiked by only 50bps and flagged some concerns about slowing growth which weighed on the CAD in the immediate aftermath. The Bank of Canada flagged …

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• 6 December 2022 6:08 pm

  Gold is rising with the support of the dollar’s decline, eyes on Fed

  

  Gold prices rose on Tuesday, after falling 1 percent in the previous session, as the US dollar fell. Still, investors are waiting for more indications regarding interest rate expectations by the Federal Reserve. And by 1133 GMT, gold in instant transactions increased 0.4 percent to $ 1776.15 an ounce. US …

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• 6 December 2022 4:39 pm

  German Factory Orders jump 0.8% MoM in October

  

  The German Factory Orders surprised markets to the upside in October, suggesting that the manufacturing sector activity is staging a modest recovery. Contracts for goods ‘Made in Germany’ jumped 0.8% on the month vs. -0.2% expected and -4.0% last, the latest data published by the Federal Statistics Office showed on …

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• 6 December 2022 2:24 pm

  The dollar held firm following strong US data

  

  The US dollar index held firm on Tuesday, posting its biggest gain in two weeks, after strong US service sector data fueled expectations that the Federal Reserve would raise interest rates more than recently expected. The Australian dollar rose from near a one-week low after the Reserve Bank of Australia …

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• 6 December 2022 1:30 pm

  European stocks are falling under pressure from the banking and energy sectors

  

  European stocks fell on Tuesday, December 6, under pressure from the banking and energy sectors, as strong data on the services sector activity in the United States raised fears that the US Federal Reserve will continue to raise interest rates at large rates. The Stoxx 600 fell by 0.1%, extending …

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