Noor Trends News, Technical Analysis, Educational Tools and Recommendations

December, 2021

• 3 December 2021 8:41 pm

  Biden: Price pressures will ease as global economy improves

  

  US President Joe Biden said on Friday that price pressures would ease as the global economy improves. “Gasoline price drops are beginning to reach Americans and this should pick up, he added, saying that China might also decide to release more oil, though it has not done so just yet.

  Read More »
• 3 December 2021 8:18 pm

  Fed’s Bullard Expects NFP Data Upwards Revision

  

  St Louis Fed President James Bullard said on Friday said that he expects an upwards revision to the November NFP number, as this is a tight labour market. The US economy will be below 4% unemployment by Q1 2022, he added. Additional Comments:“Sticking with forecast for two rate hikes in …

  Read More »
• 3 December 2021 8:06 pm

  US Factory Orders Above Expectations

  

  According to US Census Bureau data, US Factory Order rose 1.0% MoM in October. This reading is above the expected 0.5% gain and marked an acceleration on the 0.5% MoM gain seen back in September.Excluding transportation, orders were up 1.6% on the month also marking an acceleration on September’s MoM …

  Read More »
• 3 December 2021 7:37 pm

  November’s ISM Services PMI Jumps To Record Reading

  

  Headline ISM Service PMI rose to 69.1 in November. The new reading has marked a record-high going back to 1997 when the survey began. The Institute of Supply Management’s headline Services PMI index rose to a fresh record high at 69.1 in November versus forecasts for a modest fall to …

  Read More »
• 3 December 2021 7:19 pm

  USD Remains Resilient Despite Disappointing NFP

  

  US Nonfarm Payrolls rose at a much slower pace than expected in November. However, an underwhelming print did little to undermine the USD. It will be very difficult to sell the USD as a thematic strategy given the global monetary policy setup. Fed’s hawkishness to be a significant offset to …

  Read More »
• 3 December 2021 6:58 pm

  USD/CAD Collapses On US NFP Data

  

  US Nonfarm payrolls report rose by 210000, lower than the expected 550000. Canadian Employment Change increased 5 times as many as estimations while the Unemployment Rate has fallen.USD/CAD threatens to break the 200-hour SMA, that once breached, would send the pair dipping towards 1.2700.During the New York session, the USD/CAD …

  Read More »
• 3 December 2021 5:49 pm

  Canada: Economy Adds 153.7K Jobs in November

  

  The Canadian economy added 153.7K jobs in the month of November, well above expectations for a 35K and a marked acceleration from the 31.2K jobs added in October. 79.9K of these job gains were in full-time employment. Meanwhile, the unemployment rate dropped to 6.0% from 6.7% in October, a significantly …

  Read More »
• 3 December 2021 5:38 pm

  US Nonfarm Payrolls Rises in November

  

  Nonfarm Payrolls (NFP) rose by 210K in November versus the median forecast for a 550K rise, data published by the US Bureau of Labor Statistics showed on Friday. That marked a substantial decline versus the 546K jobs added to the US economy in October.

  Read More »
• 3 December 2021 5:14 pm

  Dollar Climbs as Investors Await US Jobs Data

  

  The dollar rose on Friday against most major currencies, as traders positioned themselves ahead of the release of crucial US jobs data that could pave the way for an early Federal Reserve interest rate hike. The dollar index, which measures the performance of the US currency against six other major …

  Read More »
• 3 December 2021 3:49 pm

  Eurozone Retail Sales Rise in October

  

  Eurozone’s Retail Sales rose by 0.2% MoM in October versus 0.2% expected and -0.4% last, the official figures released by Eurostat showed on Friday. Annually, the bloc’s Retail Sales came in at 1.4% in October versus 2.6% recorded in September and 1.2% estimated.

  Read More »
• 3 December 2021 2:36 pm

  Market Drivers – Asian Session 3-12-2021

  

  The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 58.5 in November versus 58.6 expected and a 58.6 – last month’s flash reading. Gold futures rose 0.66% to $1,774.30 by 10:48 PM ET (3:48 AM GMT), after falling to their lowest level in nearly …

  Read More »
• 3 December 2021 2:00 pm

  UK Final Services PMI Revised Down in November

  

  The UK services sector activity expanded less than expected in November, the final report from IHS Markit confirmed this Friday. The seasonally adjusted IHS Markit/CIPS UK Services Purchasing Managers’ Index (PMI) was revised lower to 58.5 in November versus 58.6 expected and a 58.6 – last month’s flash reading.

  Read More »
• 3 December 2021 1:59 pm

  Gold is Rising But Waiting For The Data

  

  Gold rose on Friday morning in Asia. However, the yellow metal braced for its third consecutive weekly decline, weighed by signs that the US Federal Reserve will accelerate the pace of reduction in asset purchases and raise interest rates earlier than expected to curb inflationary pressures. Gold futures rose 0.66% …

  Read More »