Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 29 September 2023 1:08 am

  EUR/USD advances ahead of EU CPI, US PCE inflation

  

  On Thursday, the EUR/USD pair surged as the Dollar Index decreased. As rate rise cycles come to an end, analysts anticipate greater Euro depreciation. With important US and EU inflation numbers on Friday, the trading week will come to an end.On Thursday, the EUR/USD reached an intraday high of 1.0580 …

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• 28 September 2023 11:57 pm

  CAD expects USD to decline even further

  

  The US currency, which has little velocity, and the price of crude oil are closely tracked by the Canadian dollar. The USD/CAD pair is essentially flat for the day on Thursday, falling 0.2% at its low point, and it appears that consolidation is imminent near 1.3500. The final figures for …

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• 28 September 2023 10:38 pm

  US oil retreats from a 12-month peak on profit taking, hawkish Fed

  

  Despite encouraging US economic data, and at the time of writing, WTI crude has dropped 2.17% to $90.77 from a 12-month high of $94.99. Despite slowing inflation, the US economy grew by 2.1% in the second quarter and is projected to rise by 4.9% in the third. However, as Republicans …

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• 28 September 2023 8:40 pm

  Wall Street ticks higher as investors digest US GDP data

  

  US stocks rose on Thursday, looking to recover some losses after the Fed’s higher for longer stance on interest rates drove markets lower over the past week. The S&P 500 rose about 0.6%, while the Dow Jones popped about 0.5%. The tech-heavy Nasdaq Composite led gains, adding 0.8%. A fresh …

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• 28 September 2023 7:51 pm

  Gold extends losses as Fed policymakers back more rate hikes

  

  Gold prices are experiencing a selloff as Fed policymakers reiterate their hawkish stance on interest rate outlook. The US economy’s strength due to a tight labor market and strong consumer spending supports the Fed’s hawkish stance. The precious metal is trading at $1863 per ounce at the time of writing.The …

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• 28 September 2023 4:14 pm

  The US economy grew 2.1% in Q2

  

  The final reading of America’s gross domestic product revealed that the economy grew by about 2.1%, which is the same levels as the second reading. The US economy grew by about 2.2% in the first quarter of this year and by 6.2% in the second quarter of 2022. The data …

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• 28 September 2023 3:15 pm

  Gold is trading at a 6-month low

  

  Gold prices traded at their lowest level in 6 months during Thursday’s session, recording levels below $1,900 per ounce. Gold’s losses coincided with a rise in the dollar and the yield on US Treasury bonds. The dollar recorded its highest level in 10 months against a basket of major currencies …

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• 28 September 2023 1:46 pm

  European stocks open higher supported by a rise in energy company stocks

  

  European stocks rose slightly on Thursday, supported by gains in energy stocks as oil prices rose while investors awaited inflation data from Germany, the euro zone’s largest economy. The European STOXX 600 index rose 0.1 percent by 0705 GMT, after five consecutive sessions of losses, and the German DAX index …

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• 28 September 2023 12:19 pm

  USD is stable near the highest level in 10 months and continues to pressure JPY

  

  The dollar stabilized near its highest level in ten months against a basket of currencies on Thursday, keeping the yen near an area that may require intervention by the authorities to support it, amid investors’ assessment of the impact of positive US economic data and new statements from Federal Reserve …

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• 28 September 2023 3:26 am

  Market Drivers – Market Drivers, September 27

  

  The US dollar’s rally and the drop in equity prices continue to be in the spotlight. The New Zealand NZD Business Confidence survey and Australian retail sales are two important readings to be watched during the Asian session. Later, attention will turn to Spain’s and Germany’s early September inflation data. …

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• 28 September 2023 2:31 am

  GBP/USD declines further on stronger dollar

  

  The GBP/USD pair is experiencing a backslide as the Pound Sterling weakens against the dollar. US data supports the USD, while the UK data-light calendar leaves the GBP to twist. The pair is expected to see US & UK GDP and US PCE on Friday. On Wednesday, US Durable Goods …

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• 28 September 2023 2:01 am

  EUR/USD closer to fresh lows on economic headwinds, hawkish Fed

  

  The EUR/USD pair has reached an eight-month low, with the pair trading at 1.0505, near the lows of the month after reaching a daily high of 1.0574. The Eurozone’s M3 supply shrinkage, reflected by broader economic strains, has weighed on the EUR/USD.The Euro is extending its losses versus the US …

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• 27 September 2023 10:35 pm

  Wall Street dips as Treasury yields continue surging

  

  As Treasury rates surged on Wednesday, Wall Street’s major indexes declined in choppy trading conditions as investors awaited news on a US funding bill and this week’s inflation data to determine the Federal Reserve’s stance for monetary policy outlook.The 10-year Treasury yields changed course to reach a new 16-year high, …

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