Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2022

• 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, …

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• 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 …

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• 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 …

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• 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, …

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• 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. …

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• 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 …

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• 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 …

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• 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 …

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• 28 December 2022 12:35 am

  Could stocks’ volatility continue into 2023?

  

  Among the key questions lingering over across financial markets is whether volatility could continue into 2023 as the calendar year turns a corner.Markets were closed Monday to observe the Christmas holiday. In this shortened trading week, investors are expecting either relative quiet or further volatile sessions ahead due to low …

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• 27 December 2022 11:40 pm

  S&P 500 retreats on surging T-yields amid Santa Claus rally

  

  The S&P 500 fell on Tuesday, at the beginning of the holiday-shortened week, as yields climbed while investors are busy assessing the economic outlook for the new year.The Dow Jones Industrial Average rose 47 points, or 0.13%. The S&P 500 retreated by 0.4%, while the Nasdaq Composite shed 1.3%. Southwest …

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• 27 December 2022 10:41 pm

  WTI crude price benefits from Putin’s ban on oil supply

  

  Crude oil prices are up on Tuesday, helped by the ruling optimism that pushes most stock markets into the gain territory.China has also eased covid-related restrictions, as the local government puts the focus on economic growth, and this consequently boosted the overall market sentiment. Some news agencies report that the …

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• 27 December 2022 9:44 pm

  USD/CAD retreats to the lowest level in three weeks

  

  The Canadian dollar is outperforming during the US session on rebounding WTI crude price, and so Canada’s currency approaches daily highs.As Wall Street trims losses, US yields print fresh highs, the USD/CAD pair is hovering around 1.3510 after hitting at 1.3484, the lowest level in three weeks, amid a significant …

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• 27 December 2022 8:29 pm

  US: International trade deficit declines to $83.3 billion in November

  

  International trade deficit of the US declined by $15.5 billion in October while the US Dollar Index is hovering around 104.22 after the data, showing no immediate reaction to this report. The data published by the US Census Bureau revealed on Tuesday that the US international rate deficit declined by …

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