Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2022

• 28 December 2022 11:53 pm

  USD/CAD boosted by marginally stronger US dollar, risk aversion

  

  The USD/CAD pair has rebounded from weekly lows around 1.35920s and concludes trading closer to the 1.3600 mark. The pair is trading at 1.3592 at the time of writing after hitting the 1.3485 low.The stronger American Dollar keeps the Canadian Dollar under pressure. The US Dollar Index (DXY), a gauge …

  Read More »
• 28 December 2022 10:47 pm

  How is the USD/JPY pair reacting to the dollar’s rally on Wednesday?

  

  At the time of writing, the USD/JPY is trading at 134.17, up by 0.54%. The dollar rallied a little bit against the Japanese yen during the US trading session on Wednesday, but it is obvious that the American currency is struggling to shyly hang on to gains later in the …

  Read More »
• 28 December 2022 9:49 pm

  Dow Jones surges on weaker Pending Housing Data

  

  The Dow Jones Industrial Average surged on Wednesday after the release of US economic data, with the release of another housing report as well as a Fed’s manufacturing index out. Tesla stock hit another new low before bouncing sharply, looking to recover a small bite of its historic December plunge.Wednesday’s …

  Read More »
• 28 December 2022 8:50 pm

  EUR/USD retreats from 13-day highs to fresh daily lows

  

  After the EUR/USD pair had made a run to weekly highs, it eventually retreated. The pair now is closer to the daily low as US yields rise.The stocks market turns negative, while crude oil sinks. The EUR/USD pair failed to break the current range despite hitting the highest level in …

  Read More »
• 28 December 2022 7:53 pm

  GBP/USD climbs on positive mood, softer dollar

  

  The GBP/USD pair has come back above the 1.2100 figure, courtesy of the US Dollar weakness. China’s relaxing Covid-19 restrictions can keep the market’s positive sentiment.The British Pound sharply advances after the European trading session that exhibited choppy trading, bouncing off the day’s lows around 1.2000. the pair is also …

  Read More »
• 28 December 2022 7:18 pm

  November’s US Pending Home Sales below expectations

  

  Pending Home Sales in the US declined by 4% on a monthly basis in November, the data published by the National Association of Realtors showed on Wednesday. This reading followed October’s decrease of 4.6% and came in much worse than the market expectation for an increase of 0.6%.Following this data, …

  Read More »
• 28 December 2022 5:46 pm

  Moscow did not consult OPEC+ to respond to the Russian oil price ceiling

  

  Kremlin spokesman Dmitry Peskov said that his country did not consult OPEC + regarding its response to the Western price ceiling imposed on Russian oil, noting that Russia has the sovereign right to take whatever it deems appropriate to respond to such “illegal measures.” On Tuesday, Russian President Vladimir Putin …

  Read More »
• 28 December 2022 4:03 pm

  European stocks rise as investors assess the easing of Chinese restrictions

  

  European stocks rose in early trade on Wednesday and the FTSE 100 outperformed its peers after a long Christmas weekend as investors assessed Beijing’s steps towards reopening its Covid-hit economy. The STOXX 600 European shares rose 0.3 percent by 0809 GMT, while the Financial Times 100 rose 0.9 percent, as …

  Read More »
• 28 December 2022 1:27 pm

  Oil is falling due to fears of increasing Covid cases in China and possibility of a global recession

  

  Oil prices fell on Wednesday on fears that a rising number of COVID-19 cases in China, the world’s largest oil importer, would impede the Asian country’s economic recovery as it eases pandemic restrictions, curbing oil demand growth. And by 0710 GMT, Brent crude futures for February delivery fell 68 cents, …

  Read More »
• 28 December 2022 10:56 am

  Gold is moving in a narrow range as investors await new indicators

  

  Gold fell on Wednesday, affected by pressure from the rising US dollar, but prices moved in a narrow range due to the absence of any new influences. By 0248 GMT, spot gold fell 0.2 percent to $1811.20 an ounce, and US gold futures fell 0.2 percent to $1818.90 an ounce. …

  Read More »
• 28 December 2022 3:46 am

  Market Drivers – US Session – 27/12/2022

  

  China published its upwardly revised GDP estimate for 2021, at 8.4% instead of 8.1%. China has also stimulated positive market sentiment following the announcement of easing covid-linked restrictions, which will alleviate the negative impact of such restrictions on the economy. China Immigration Administration announced it would resume issuing visas for …

  Read More »
• 28 December 2022 2:00 am

  Gold abandons three week high to $1,814 price zone

  

  Following Wall Street’s optimistic opening amid better market sentiment, as US Treasury yields kept advancing in thin trading, gold managed to jump to a fresh three-week high but rapidly returned around its $1,810 comfort zone, specifically, at the time of writing, the precious metal is in bracketing trading range at …

  Read More »
• 28 December 2022 1:28 am

  San Francisco Fed discards US recession concerns

  

  San Francisco Fed’s Thomas M. Mertens, from the Economic Research Department, published a report, on Tuesday, on the central bank’s official website entitled “Recession Prediction on the Clock”. The report could be seen as a recession predictor based on macroeconomic data, particularly the jobless unemployment rate.This economic update was able …

  Read More »