Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2022

• 16 December 2022 5:49 pm

  Retail sales in Britain contracted and recorded a negative reading

  

  The data of the National Statistics Office issued in Britain today, Friday, showed that the retail sales index recorded a negative reading, as Britain witnessed a contraction in retail sales by 0.4% last November, which is worse than the market’s expectations of an index growth of about 0.3%, after the …

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• 16 December 2022 2:17 pm

  European stocks are heading towards a weekly loss

  

  European stocks fell on Friday, heading for a weekly loss, after major central banks pledged to raise interest rates further to counter inflation, raising concerns about a global economic slowdown next year. The European Stoxx 600 index fell 0.2 percent to a new low, the lowest in a month, at …

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• 16 December 2022 12:29 pm

  Japan’s Nikkei closed at its lowest level in a month

  

  Japan’s Nikkei index closed at its lowest level in more than a month on Friday, tracing sharp declines on Wall Street overnight, as major central bank decisions to raise interest rates stoked fears of an economic slowdown. The Nikkei closed down by 1.87 percent, recording 27,527.12 points, the lowest closing …

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• 16 December 2022 11:56 am

  Gold is on track to post a weekly loss as the US central bank sticks to monetary tightening

  

  Gold prices rose slightly on Friday as the dollar fell, but the yellow metal, which does not yield a return, is now on its way to record a weekly loss, with the Federal Reserve expecting interest rate hikes to continue for a longer period. Spot gold rose 0.2 percent to …

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• 16 December 2022 10:37 am

  Oil is rising in spite of the economic concerns

  

  Oil prices rose in early Asian trade on Friday, after falling by 2 percent in the previous session, in the wake of central banks raising interest rates, and are heading towards ending the week’s transactions higher after a series of positive expectations for oil demand. By 0109 GMT, Brent crude …

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• 16 December 2022 4:54 am

  Market Drivers – US Session 15/12/2022

  

  The US dollar is reaping the fruit of the hawkish stance adopted by the Fed Chair Jerome Powell, reacting late to the US Fed’s decision.The dollar soared to fresh weekly highs against most major rival currencies, ending the day with substantial gains amid a risk-averse environment. The dollar rallied since …

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• 16 December 2022 4:31 am

  Gold Price Pressured on Declining Demand

  

  The global economy seems to be at a remarkable inflection point. Tightening monetary policies amid high inflation could slow down global economic growth in 2023. This background is typically positive for gold and this the say of history. Gold Price is under pressure, so, it is taking on a critical …

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• 16 December 2022 12:23 am

  Oil edges lower on QT decisions, global recession concerns

  

  Crude prices edged lower on accelerating fears linked to global recession risks after another wave of central banks’ decisions regarding quantitative tightening. This is why oil’s latest rally faded as risk aversion grows wilder.The stronger US dollar makes oil more expensive for those using other currencies. Oil prices slid about …

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• 15 December 2022 10:43 pm

  GBP/USD retreats after BoE’s dovish hike

  

  The Pound Sterling is losing ground against the US dollar even after the BoE lifted rates by 0.50%, a hike that is generally looked upon as dovish. US Retail Sales data for November is disappointing though it indicated the effects of the Fed’s policy.The GBP/USD pair’s decline towards the confluence …

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• 15 December 2022 9:25 pm

  EUR/GBP surges on dovish BoE, hawkish ECB

  

  The Euro is soaring more than 100 pips against the Pound Sterling. ECB’s Lagarde opened the door for further 50 bps rate hikes in subsequent meetings. At the time of writing, the Euro has gained traction against the Pound Sterling (GBP) and is trading at 0.8705, above its opening price …

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• 15 December 2022 8:36 pm

  What does retail sales data reflect about US economy?

  

  US retail sales fell more than expected in November, but consumer spending is still supported by a tight labour market, with the number of Americans filing for unemployment benefits decreasing by the most in five months last week. The biggest decrease in retail sales in 11 months reported by the …

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• 15 December 2022 7:28 pm

  Does BoE’s hike sufficiently supports the pound?

  

  As expected, the BoE raised interest rate by 50 bps to 3.50%. The BoE is seen as having provided no sufficient support for GBP to climb according to some economists.As broadly expected, the BoE hiked 50 bps to 3.50% and signaled that more hikes are likely. The vote was biased …

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• 15 December 2022 5:47 pm

  US: Weekly Initial Jobless Claims decline to 211K

  

  There were 211,000 initial jobless claims in the week ending December 10, the weekly data published by the US Department of Labor (DOL) showed on Thursday. This print followed the previous week’s print of 231,000 (revised from 230,000) and came better than the market expectation of 230,000. Further details of …

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