Noor Trends News, Technical Analysis, Educational Tools and Recommendations

November, 2021

• 29 November 2021 8:05 pm

  WTI Crude Continues Impressive Bounce

  

  Oil prices have continued to press higher, with front-month WTI crude futures now up more than USD 4.0 on the day and back in the USD 72.00s, nearly 50% of Friday’s steep decline over news on Omicron variant concerns has now been unwound.To get above the 50% Fibonacci retracement of …

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• 29 November 2021 7:27 pm

  October’s US Pending Home Sales Rises By 7.5%

  

  Pending Home Sales in the US jumped by 7.5% on a monthly basis in October following September’s 2.3% drop, data published by the US National Association of Realtors showed on Monday. That saw the Pending Home Sales index jump to 125.2 in October from 116.5 in September. On a YoY …

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• 29 November 2021 6:09 pm

  Market Drivers – European Session 29-11-2021

  

  Turkish President Recep Tayyip Erdogan said on Monday he would never support a rate hike and “never back down from it”, repeating his support for recent interest rate cuts that have caused the lira to plummet. NTV quoted Erdogan as telling reporters during his return flight from a visit to …

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• 29 November 2021 5:39 pm

  Oil Prices Rose on Opec+

  

  Oil prices rose on Monday, November 29, on speculation that OPEC + may halt the increase in oil production in light of the spread of the Omicron strain of the Coronavirus, but the atmosphere remains cautious in light of insufficient information about the new mutation. There is concern that the …

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• 29 November 2021 5:14 pm

  Germany: Annual HICP Rises to 6.0% in November

  

  The annual Harmonized Index of Consumer Prices (HICP), the European Central Bank’s preferred gauge of inflation, rose to 6.0% from 4.6% in October, compared to analysts’ estimate of 5.4%. MoM, the HICP was up 0.3%, above consensus expectations for a 0.5% drop.

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• 29 November 2021 4:27 pm

  Dollar Rises, Major Currencies Fall After Turmoil Due to Omicron

  

  The dollar rose while the euro fell, and the yen stabilized on Monday as markets calmed after the first shock of discovering a new coronavirus mutant. The mutant Omicron, which was first detected in South Africa, caused global concern, as financial markets fell on Friday, amid fears that its appearance …

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• 29 November 2021 3:06 pm

  European Shares Rebound on Sell-off Driven by Omicron Fears

  

  European shares rebounded on Monday amid their steepest selling in over a year as investors awaited signs of whether the new Omicron strain of the coronavirus will hamper economic recovery and central banks’ monetary tightening plans. The pan-European Stoxx 600 index was up 1 percent by 0818 GMT, after falling …

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• 29 November 2021 2:30 pm

  Market Drivers – Asian Session 29-11-2021

  

  The market is still on guard at the opening of the week due to the corona mutant believed to be resistant to existing vaccines. Gold rose in Monday morning trading in Asia, with concerns about the impact of the vaccine-resistant COVID-19 omicron variant giving the safe-haven yellow metal a boost. …

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• 29 November 2021 1:19 pm

  Gold Rises as Fears of Omicron Boost Its Allure

  

  Gold prices rose on Monday after concerns about the impact of the potentially vaccine-resistant Omicron strain of coronavirus boosted gold’s safe-haven appeal. Spot gold rose 0.1 percent to $1,793.72 an ounce. US gold futures rose 0.4 percent to settle at $1,793.2. Actual demand for gold in major Asian hubs increased …

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• 29 November 2021 12:37 pm

  The Turkish Lira Drops 4%, Approaching Record Lows

  

  The Turkish lira fell more than 4% against the dollar in weak and volatile trading Monday, November 29, approaching record lows hit last week when President Recep Tayyip Erdogan insisted he was sticking to his policy of cutting interest rates despite widespread criticism. The lira fell until its value reached …

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• 29 November 2021 8:27 am

  Weekly Recap 22-26 November

  

  Financial markets were calm last week due to the Thanksgiving holiday in the United States, and investors were cautious due to the emergence of the new Coronavirus mutant in South Africa and the Uk. Gold During the past week, the safe haven fell due to the growing strength of the …

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• 27 November 2021 2:21 am

  Market Drivers – US Session – 26-11-2021

  

  The US session did not witness the release of any remarkable economic data, rather it has been dominated by concerns of probable lockdowns in Europe, the emerging new virus strain.On Friday, oil prices recorded their largest one-day drop since April 2020 by falling about $10 a barrel, as a new …

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• 27 November 2021 1:59 am

  What Is Next for China’s Economy?

  

  China’s post-COVID recovery has been hurt by Beijing’s crackdown on real estate and tech giants. Strong exports have saved the economy but what happens when global demand for Chinese goods decreases? Despite projections of 8% economic growth this year, China is struggling to handle many economic challenges. The debt crisis …

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