Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2021

• 23 November 2021 2:03 am

  Gold Retreats on Powell’s Reappointment News

  

  Gold prices have put in an aggressively retreating move Monday, seemingly driving on the news that Fed Chair Jerome Powell has been reappointed for a second term.While few would consider Chair Powell as a hawk, the fact that this move has printed so cleanly off of that headline indicates that …

  Read More »
• 23 November 2021 1:48 am

  EUR/GBP Volatility To Hike Ahead Fresh PMIs Data

  

  EUR/GBP has been rangebound on Monday within 0.8380-0.8400ish parameters with market attention predominantly elsewhere.The market is expected to heat up starting Tuesday with the release of fresh figures by UK and Eurozone PMIs.the Forex market’s focus has been on USD crosses on Monday, amid a broad strengthening of the dollar …

  Read More »
• 23 November 2021 1:18 am

  Bitcoin Miners Flock to Texas

  

  Everything is bigger in Texas. Problems with its electric grid and energy demand for bitcoin is no exception. A new analysis shows that the electric grid is just as vulnerable to crises and blackouts as it was before February’s blackouts just as the state is gearing up to turn into …

  Read More »
• 23 November 2021 12:24 am

  US T-Yields climb, Start Holiday-Shortened Trade

  

  With Biden deciding to reappoint Jerome Powell at Federal Reserve for second term, yields for U.S. government debt were headed higher on Monday to kick off a holiday-shortened week, with the Treasury market closed on Thursday in observance of Thanksgiving Day and due to be cut short Friday.The rise in …

  Read More »
• 23 November 2021 12:00 am

  New Zealand Dollar Falls Below 70

  

  The New Zealand dollar has extended its losses and t the start of the week. NZD/USD is currently trading at 0.6970, down 0.40%.The deterioration in risk sentiment sent the New dollar sharply lower on Friday, as the currency fell 0.68% and ended the week just below the 70 level, at …

  Read More »
• 22 November 2021 11:10 pm

  Oil War Continues: OPEC+ To React as Biden Threatens To Tap Reserves

  

  Oil prices rose on Monday, rebounding from recent losses, on reports that OPEC+ could adjust plans to raise oil production if large consuming countries release crude from their reserves or if the coronavirus pandemic dampens demand. This marks the latest development in the market after weeks long tug-of-war game. Brent …

  Read More »
• 22 November 2021 10:06 pm

  November’s Eurozone Consumer Confidence Deteriorates

  

  Consumer confidence in the Eurozone has dropped in November for the second successive month as rising COVID-19 cases and higher energy prices in addition to surging inflation dented consumers’ moods and continued to worry citizens, as the Euro hit a 21-month low against the sterling.The European Commission said Monday that …

  Read More »
• 22 November 2021 9:50 pm

  October’s US Existing Home Sales Rise

  

  Existing Home Sales in the U.S. rose 0.8% in October to a seasonally adjusted annualized rate of 6.34 million units, according to data released by the National Association of Realtors. Sales were 5.8% lower than they were in October 2020 and the current figure outpaced the originally projected 6.20 million. …

  Read More »
• 22 November 2021 9:39 pm

  Wall Street, European Stocks Jump on Powell’s Second Term News

  

  Wall Street shares rose to record levels on Monday and European stocks turned into the positive territory after US President Joe Biden picked Jerome Powell to continue as Chair of the Federal Reserve Bank, in a move welcomed as a signal of stability by global investors.The S&P 500 rose 0.92% …

  Read More »
• 22 November 2021 8:42 pm

  Chicago Fed: US Economic Growth Revamped in October

  

  The US economy gained momentum in October following slow growth in the last few months, according to an index compiled by the Federal Reserve Bank of Chicago released Monday.The Chicago Fed National Activity Index rose to 0.76 in October from minus 0.18 in September, topping the 0.17 consensus forecast from …

  Read More »
• 22 November 2021 8:31 pm

  Powell’s Reappointment, No Change of Jockeys in the Middle of Race

  

  Jerome Powell is set to serve a second term as chairman of the Federal Reserve. Under Powell, consumers can expect the central bank to maintain its patient stance regarding inflation and interest rates.Biden praised Powell and the Fed for decisive action that cushioned the impact of the Covid-19 pandemic. In …

  Read More »
• 22 November 2021 6:32 pm

  US Pres. Biden Nominates Jerome Powell as Fed Chair

  

  White House announced on Monday that Federal Reserve Chair Jerome Powell was nominated for a second four-year term by President Joe Biden. Lael Brainard, who reportedly was the other top candidate for the position, will become the new vice-chair, the press release further revealed.

  Read More »
• 22 November 2021 6:28 pm

  Market Drivers – European Session 22-11-2021

  

  Stock futures rose in early morning trading Monday ahead of a short week of trading due to the holiday, a historically strong seasonal period on Wall Street. Futures on the Dow Jones Industrial Average rose 101 points. The futures contracts for the S&P 500 and Nasdaq 100 index were also …

  Read More »