Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 11 September 2023 10:57 pm

  US stocks close in green territory ahead of CPI data

  

  As market participants wait for important Consumer Price Index (CPI) inflation data due in the middle of the week, where headline consumer inflation is predicted to nudge up to 0.5% MoM from the previous period’s 0.2%, US equities are benefiting from the tech sector in Monday’s trade. The expectation for …

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• 11 September 2023 9:52 pm

  EUR/USD benefits from softer US dollar

  

  The EUR/USD pair increased to 1.0755, a four-day high. Prior to the ECB decision on Thursday, expectations for the tightening ECB remain stable. The US CPI data for August are expected on Wednesday. The EUR/USD rose towards the 1.0755 region at the beginning of the week, with gains of more …

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• 11 September 2023 8:58 pm

  WTI crude closer to yearly highs on positive Chinese data, supply cuts

  

  Due to Saudi Arabia and Russia’s agreement to reduce output by 1.3 million barrels through the end of the year, WTI crude oil is currently trading at $86.62. Oil prices are supported by China’s strong economic indicators and Japan’s probable end to negative interest rates.As supply cuts from Saudi Arabia …

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• 11 September 2023 7:50 pm

  BoE’s Mann: I would rather err on the side of over-tightening

  

  The Bank of England’s Monetary Policy Committee member Catherine Mann stated on Monday that overtightening is simpler to correct than not changing interest rates. She continued by saying that overshoot would result from underestimating how long inflation would last. The GPB/USD pair is trading at the highest level in five …

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• 11 September 2023 4:04 pm

  JPY rises and USD declines before inflation data

  

  The Japanese yen jumped Monday, September 11, after comments by Bank of Japan Governor Kazuo Ueda raised hopes that the country may soon enter a new era away from negative interest rates, while the dollar fell ahead of US inflation data scheduled for release this week. The Japanese currency rose …

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• 11 September 2023 2:33 pm

  Turkey’s current account recorded a deficit of $5.466 billion in July

  

  The Central Bank of Turkey said Monday, September 11, that the country’s current account surplus turned into a deficit of $5.466 billion in July, which exceeds Reuters expectations of a deficit of $4.5 billion. The country’s current account registered a surplus of $651 million in June. In 2022, Turkey’s current …

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• 11 September 2023 2:28 pm

  Unemployment in Türkiye decreased to 9.4% in July

  

  Turkey’s annual inflation slowed for the seventh month in a row, reaching 38.2% against expectations of 39.47%. In June, inflation recorded 39.5%, after a slowdown from record levels in October 2022, which reached 85.5%. On Thursday, June 22, Turkey’s central bank raised the country’s main interest rate, nearly doubling it …

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• 11 September 2023 12:55 pm

  European stocks stabilize after a seven-day sell-off

  

  European stocks rose on Monday as investors awaited US inflation data as well as a monetary policy decision from the European Central Bank later in the week for further indications on the path of global interest rates. The European STOXX 600 index rose 0.6 percent by 0712 GMT, after falling …

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• 11 September 2023 12:13 pm

  Gold rises ahead of US inflation data

  

  Gold prices rose on Monday, supported by a decline in the dollar, as investors awaited inflation data in the United States, which may make the Federal Reserve inclined to raise interest rates later in the year. Gold jumped in spot transactions 0.5 percent to $1,927.39 per ounce by 0614 GMT, …

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• 11 September 2023 4:45 am

  Financial Markets’ Weekly Recap, September 4:8

  

  The G-20 leaders decided on Saturday to implement the reporting framework for digital assets quickly since a sizable portion of their members want information exchange on these non-financial assets to begin by 2027. To prevent tax evaders from hiding their unreported wealth with such non-financial assets, the Crypto Asset Reporting …

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• 9 September 2023 12:09 am

  Why do Fed’s economists expect low inflation, no recession, positive growth?

  

  Federal Reserve Bank of Chicago economists forecast that inflation will decline without pushing the US economy into a recession. They also described a Goldilocks scenario for a soft landing in a recent study. Inflation may fall below 2% by next year, negating the need for any rate increases.Stefania D’Amico and …

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• 8 September 2023 10:20 pm

  WTI expected to close a winning week

  

  WTI crude rose by over 0.70% on Friday, reaching $88.00. However, the daily chart shows exhaustion signals, suggesting tighter supply is a tailwind for oil prices. Global weakening demand may cap gains. The West Texas Intermediate advanced near $88.00 and settled below $87.00, still poised for a 2% weekly gain. …

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• 8 September 2023 8:45 pm

  USD/JPY approaches 148.00 on softer Japanese wages

  

  The USD/JPY pair surges by 0.30%, moving closer to 147.70. In order to prevent the BoJ from being pressured to change course, the USD is declining and the DXY Index is consolidating after rising to a multi-month high of 105.15 after Japan released weak GDP and earnings data.After Japan released …

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