Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2021

• 25 November 2021 12:54 pm

  UAE: Fully Committed to OPEC+ Deal

  

  Fresh headlines are crossing the wires from the UAE official, via Reuters, citing that it is fully committed to OPEC and its allies (OPEC+) agreement. The UAE said that it has no “prior stance” ahead of the upcoming OPEC+ meeting. The UAE Energy Minister, Suhail Al Mazrouei, said last Tuesday …

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• 25 November 2021 11:36 am

  Gold Rises With The Decline of The Dollar

  

  Gold prices rose on Thursday as the dollar weakened, but hawkish comments from US Federal Reserve policymakers limited the metal’s allure and kept it well below the important $1,800 level. Spot gold rose 0.2 percent to $1,791.76 an ounce by 0501 GMT, after falling to its lowest level since November …

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• 25 November 2021 10:33 am

  The Turkish lira is Recovering After Record Lows

  

  The Turkish lira continued its recovery Thursday, November 25, after a historic plunge to record lows this week sparked by President Recep Tayyip Erdogan’s defense of interest rate cuts. The lira was trading at 11.85 against the dollar, as it rose about 1.9% from about 12.0820 yesterday, Wednesday. The lira …

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• 25 November 2021 2:58 am

  Market Drivers – US Session – 24-11-2021

  

  The minutes of the 3 November FOMC meeting, released on Wednesday, said that various participants noted that the Fed should be prepared to adjust the pace of the QE taper and raise rates sooner than currently anticipated should inflation continue to run hot. The minutes carried a consolidated language to …

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• 25 November 2021 2:07 am

  Morgan Stanley Increases Exposure To Bitcoin

  

  Investment funds from major US investment bank Morgan Stanley have increased their exposure to Bitcoin through purchases of shares of Grayscale Bitcoin Trust.According to filings from the United States Securities and Exchange Commission, the Morgan Stanley Insight Fund increased its holdings of Grayscale Bitcoin Trust (GBTC), shares more than 63%, …

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• 25 November 2021 1:55 am

  Bitcoin, Ether Expect Higher Volatility

  

  Cryptocurrencies were generally lower on Wednesday as bitcoin traded in a tight range around $56,000. Technical indicators suggest limited downtrend around the $53,000 support level, which could keep buyers active toward $60,000 resistance.Trading volume is expected to retreat over the next few days, particularly on the U.S. Thanksgiving holiday Thursday. …

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• 25 November 2021 1:30 am

  US Shares Mixed, Wider Market Reacts After Fed Minutes

  

  Wall Street shares reversed earlier losses in choppy trading on Wednesday and U.S. Treasury yields hovered near highs for the year after data suggested the U.S. job market and consumer spending continued to improve.Oil prices were largely steady as investors questioned the effectiveness of a U.S.-led release of oil from …

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• 24 November 2021 11:40 pm

  EIA: US Weekly Crude Oil Stockpiles Rise

  

  U.S. crude oil stocks rose last week but gasoline and distillate stocks fell even as refining activity increased on strong overall fuel demand, the Energy Information Administration said on Wednesday.Crude inventories rose by 1 million barrels in the week to Nov. 19, compared with analysts’ expectations for a decrease of …

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• 24 November 2021 11:28 pm

  FOMC Minutes: Fed should be prepared to accelerate QE taper, rate hikes

  

  The minutes of the 3 November FOMC meeting, released on Wednesday, said that various participants noted that the Fed should be prepared to adjust the pace of the QE taper and raise rates sooner than currently anticipated should inflation continue to run hot. Additional takeaways: “Some participants suggested that reducing …

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• 24 November 2021 10:47 pm

  US Shares Weakened As Investors Await FOMC Minutes

  

  As investors and traders are awaiting the FOMC minutes, the S&P 500 edged down 0.2%, while the Dow Jones Industrial Average weakened 0.3%, or about 110 points. The Nasdaq Composite Index fell 0.2%. That puts the technology-heavy index on pace to decline for a third successive day amid a rise …

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• 24 November 2021 10:19 pm

  US Natural Gas rises on Cooler Weather Forecast

  

  US natural gas futures rose over 2% to a one-week high on Wednesday on forecasts for slightly cooler weather and higher heating demand over the next two weeks than previously expected.That increase came even though near record output caused last week’s storage withdrawal to be smaller-than-usual, as expected.The US Energy …

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• 24 November 2021 10:03 pm

  AUD/USD Looking Vulnerable around FOMC Minutes

  

  AUD/USD is on the verge of a downside continuation towards daily lows while the Dollar Index (DXY) has headed for a test of 97 the figure again, rallying to a high 96.937FOMC minutes are coming up and could be the final catalyst of the current week. The US data dump …

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• 24 November 2021 9:04 pm

  ECB’s Weidmann: Upside Risks Dominate in Germany and Eurozone

  

  European Central Bank governing council member and Bundesbank head Jens Weidmann said on Wednesday that upside risks to inflation dominate in both Germany and the rest of the Eurozone. The flexibility of the PEPP should not be transferred to any other bond-buying programme, Weidmann continued, adding that the ECB should …

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