Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2022

• 7 December 2022 3:44 pm

  Eurozone GDP grows at an annual rate of 2.3% in Q3

  

  Eurostat reported Wednesday that seasonally adjusted Gross Domestic Product (GDP) in the Euro area expanded at an annual rate of 2.3% in the third quarter. This reading followed the 4.2% growth recorded in the second quarter and came in higher than the initial estimate and the market expectation of 2.1%. …

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• 7 December 2022 1:47 pm

  European stocks fell for the fourth day amid fears of a recession

  

  European stocks fell on Wednesday, December 7, affected by investor anxiety, amid growing fears of a recession, although the strong push of the healthcare sector limited losses. The pan-European Stoxx 600 index fell 0.2%, extending its losses for the fourth consecutive day, after it began to recover from its fall …

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• 7 December 2022 1:19 pm

  Gold is locked in a narrow range

  

  Gold traded within a narrow range on Wednesday as investors awaited the Federal Reserve’s meeting next week to assess the bank’s monetary policy stance. And gold in instant transactions witnessed a slight change to $ 1772 an ounce by 0650 GMT. US gold futures rose 0.1 percent to $1,783.90. A …

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• 7 December 2022 12:43 pm

  Japan’s Nikkei index is at a 4-week low

  

  Japan’s Nikkei average touched a four-week low on Wednesday, tracking a sell-off in technology stocks on Wall Street overnight, but gains in auto stocks helped limit losses. The Nikkei closed down 0.72% at 27,686.40, after dropping earlier to 27,646.78 for the first time since November 10. Tokyo Electron, which specializes …

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• 7 December 2022 12:13 pm

  Russia may ban oil sales and set a maximum discount in response to the price ceiling

  

  Vedomosti newspaper reported on Wednesday that Russia is considering three options, including banning oil sales to some countries and setting a maximum discount at which it will sell its crude, in order to counter the price cap imposed by Western powers on Russian oil. The $60 per barrel price cap, …

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• 7 December 2022 11:34 am

  China’s exports and imports contracted at a sharper pace in November

  

  The General Administration of Customs said on Wednesday, December 7, that dollar exports fell 8.7% in November compared to the previous year to $296 billion, which is the lowest level since April, when Corona restrictions led to the closure of Shanghai factories and roads and prevented companies from placing goods …

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• 7 December 2022 5:13 am

  Market Drivers – US Session 06/12/2022

  

  Uncertainty is prevalent regarding the Fed’s intentions that will unfold after FOMC meeting, later in December. Fed officials hinted at an easing pace of quantitative tightening starting as soon as this month, despite signs of easing inflation, but doubts are increasing lest the economy should fall in long-lasting recession.ECB’s Constantinos …

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• 7 December 2022 5:01 am

  32 factors, risks investors should consider for 2023 and beyond

  

  MSCI’s all-country world index, a gauge of stock performance in over 40 countries, fell 1.26% to record a third lower successive day after hitting a three-month high last week.An analysis by MSCI ESG Research noted 32 factors and risks that businesses and investors should consider for 2023 and beyond when …

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• 7 December 2022 3:19 am

  Collapse of FTX Tempting Goldman To Hunt Crypto Firms

  

  Mathew McDermott, Goldman Sachs’ head of digital assets, suggested on Tuesday that the bank ponders to invest in, or even buy crypto firms whose prices significantly deteriorated in the wake of the FTX collapse in deals that would cost tens of millions of dollars. Goldman Sachs’s plan comes after the …

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• 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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