Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 13 September 2023 5:17 am

  Market Drivers – US Session, September 12

  

  It’s US CPI data’s day. The awaited readings are expected to trigger price actions across the board and are crucial before next week’s FOMC meeting. During the Asian session, Japan will release the Producer Price Index. Later, monthly UK GDP data is due, as well as Eurozone Industrial Production figures.The …

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• 13 September 2023 12:51 am

  Oil prices extend uptrend ahead of US CPI data

  

  An optimistic prognosis for oil consumption and a tighter supply have caused the WTI crude price to rise to $88.40. Global oil production is expected to increase to 101.2 million barrels per day (bpd) in 2023 and 102.9 million bpd in 2024, according to the US Energy Information Administration.According to …

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• 12 September 2023 11:02 pm

  EUR/USD resists decline, holds on 1.0730

  

  Early Tuesday trading saw a decline in the EUR/USD pair, and buyers are attempting to make up ground. Midweek economic data from the US and EU will make the charts more difficult to read. Along with US inflation data due soon, the ECB rate decision is just around the corner.After …

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• 12 September 2023 10:02 pm

  Gold price meets support ahead of US inflation data

  

  The US economy is absorbing the effects of higher interest rates with ease, and the US Dollar gains in appeal. Investor caution ahead of August Consumer Price Index data in the US is putting pressure on the price of gold, as a sharp rise in petrol costs suggests that headline …

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• 12 September 2023 9:19 pm

  Wall Street slides lower amid rising oil prices

  

  US stocks are falling as Wall Street waits for updates on the economy and major tech firms. At lunchtime, the S&P 500 was down 0.5%, while the Dow Jones Industrial Average was down 51 points, or 0.1%, to 34,612. After largely declining for a year, oil prices have begun rising …

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• 12 September 2023 7:52 pm

  USD/JPY rebounds despite BoJ’s hawkish remarks

  

  The USD/JPY pair rose 0.43% to 147.20 after Bank of Japan Governor Ueda suggested ending negative interest rates. The US 10-year Treasury yield remains steady at 4.292%, bolstering the dollar ahead of August inflation data. Markets anticipate a rise in the Consumer Price Index from 3.2% to 3.6% YoY, potentially …

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• 12 September 2023 3:39 pm

  Putin warns of economic difficulties if inflation gets out of control

  

  Russian President Vladimir Putin said on Tuesday that rising inflation rates forced the central bank to raise interest rates to 12 percent last month, warning that the Russian economy would suffer if prices were allowed to get out of control. “In the event of high inflation, it will be practically …

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• 12 September 2023 2:43 pm

  Yen fell and dollar rose ahead of the release of inflation data

  

  The yen fell on Tuesday after achieving its largest single-day rise since mid-July on Monday after the Governor of the Bank of Japan indicated a possible end to the negative interest rate policy, which was widely echoed in all markets. Meanwhile, the dollar recovered some of its losses after recording …

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• 12 September 2023 2:42 pm

  Gold stabilizes as investors await the US inflation reading

  

  Gold prices stabilized on Tuesday as investors awaited a US inflation reading that could update views on interest rates after the Federal Reserve kept the door open to further tightening monetary policy. gold settled in spot transactions at $1,922.30 per ounce, while US gold futures fell 0.1 percent to $1,946.10. …

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• 12 September 2023 1:42 pm

  Oil prices stabilize as markets await inventories and economic data

  

  Brent crude futures hovered just above $90 a barrel on Tuesday, as investors awaited a series of macroeconomic data scheduled for later this week, which could indicate whether Europe and the United States will continue raising interest rates. By 0003 GMT, the price of global benchmark Brent crude fell six …

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• 12 September 2023 12:30 pm

  Japanese stocks rise 1% as yen declines

  

  Japanese stocks rose at the close by about 1% on Tuesday, September 12, and automakers led the gains, as the yen retreated from the highest level in a week to support the shares of export companies and risk appetite. The Nikkei index rose 0.95% to close near the highest level …

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• 12 September 2023 1:50 am

  Market Drivers – US Session, September 11

  

  New Zealand will release data on electronic card retail sales during the Asian session, and Australian confidence polls are also due. The UK employment statistics and the German ZEW survey will be the important reports later in the day. After several days of advances, the US Dollar Index’s (DXY) winning …

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• 12 September 2023 1:24 am

  Yen boosted by BoJ’s hints of pivot

  

  The EUR/JPY pair is trading around 156.60, or its lowest point since early August. Governor Ueda said that a shift in course might happen before the year is over. The ECB’s decision to hike rates on Thursday is still up for debate in the markets.On Monday, the EUR/JPY varied between …

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