Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2022

• 7 December 2022 11:55 pm

  AUD/USD bulls stay the course as US Dollar slides

  

  The AUD/USD pair holds on positive performance despite risk aversion. The Australian economy expanded less than expected in the third quarter, so investors’ eyes are still on the economic data.The AUD/USD pair is higher on the day having climbed from a low of 0.6668 and reaching a high of 0.6734 …

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• 7 December 2022 10:47 pm

  GBP/USD edges higher despite risk aversion

  

  Weaker than expected economic data in China threatens to derail economic growth and trigger risk aversion. The US central bank seems pressured by Solid US economic data released since last Friday ahead of the awaited US inflation data.The GBP/USD pair is upward biased, and could even test Tuesday’s high of …

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• 7 December 2022 9:40 pm

  Wall Street lower on mounting recession worries

  

  Wall Street’s main indexes opened lower on Wednesday as warnings of a looming recession from major Wall Street bankers offset optimism around China relaxing its strict zero-COVID rules.The Dow Jones Industrial Average fell 39.9 points, or 0.12%, at the open to 33556.4. The S&P 500 fell 8.0 points, or 0.20%, …

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• 7 December 2022 8:42 pm

  USD/CAD slides following BoC’s rate decision

  

  The USD/CAD falls during the US tgrading session after the Bank of Canada hiked rates by 50 bps, from 3.75% to 4.25%, in line with analysts’ expectations, triggering a fall from around 1.3700 to 1.3505. At the time of writing, the USD/CAD remains volatile, trading around 1.3600-1.3615.The Bank of Canada …

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• 7 December 2022 7:48 pm

  Putin: Threat of nuclear war is on the rise

  

  Russian President Vladimir Putin said on Wednesday that the threat of a nuclear war is on the rise. Putin’s comments do not seem to be having a significant impact on risk appetite. At the time of writing, the performance of S&P 500 Index is unchanged on the day at 3,940.Putin …

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• 7 December 2022 5:25 pm

  Oil is falling near its lowest level in 2022, under pressure from economic concerns

  

  Oil futures witnessed little change in Asian trading on Wednesday, December 7th, as fears about the impact of the cap imposed by the West on the price of Russian oil were offset by hopes for an improvement in demand from China, which kept the markets in anticipation after a sharp …

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• 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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