Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 14 July 2023 11:44 pm

  Macklem: Canada’s nflation will be around 3% going forward

  

  Tiff Macklem, governor of the Bank of Canada, anticipates that inflation will hover around 3% in 2019 before gradually returning to the 2% objective. He stated in an interview with The Globe and Mail that although the labour market has improved somewhat, it is still extremely tight. He argued that …

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• 14 July 2023 10:39 pm

  Wall Street continues to climb post-Consumer Sentiment reading

  

  US stocks maintained their uptrend and are rising boosted by the preliminary US consumer sentiment reading that highlighted a boost in overall sentiment in July, according to the University of Michigan’s key survey. US consumer sentiment rose to 72.6 points, compared to this July, compared to the previous reading, which …

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• 14 July 2023 9:55 pm

  Do energy imports contribute to Eurozone’s shrinking trade deficit?

  

  In May 2022, the Eurozone had a substantially larger trade deficit than it did in May 2022 because countries paid less for energy imports. According to the European Union’s statistics office Eurostat, the trade deficit for the union in May was about 300 million euros ($336.8 million), significantly lower than …

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• 14 July 2023 8:39 pm

  Canadian dollar corrects post US Consumer Sentiment data

  

  The Canadian Dollar has reacted to the latest performance by the US Dollar as well as the expectations on the US interest rates, leading to a rebound in the USD/CAD exchange rate. The Michigan Consumer Sentiment Index for June beat expectations, improving the US economy’s outlook and supporting the US …

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• 14 July 2023 7:47 pm

  US dollar achieved gains on US economic data

  

  The US dollar is battling to end its losing run as European trade begins, with the US Dollar Index consolidating around 100.00. According to the University of Michigan’s consumer sentiment data, the dollar’s worth has increased dramatically as a result of the university’s positive consumer sentiment figures. Thanks to the …

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• 14 July 2023 5:12 pm

  Dollar is near its lowest level in 15 months, with expectations that the US interest rate hike will stop soon

  

  The dollar hovered near a 15-month low on Friday, heading for its biggest weekly decline since November, after weak U.S. inflation data boosted investor bets that the Federal Reserve was close to ending its rate hike path. Data on Thursday revealed that U.S. producer prices barely rose in June, while …

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• 14 July 2023 2:55 pm

  Oil prices are hovering above $81 due to supply disruption

  

  Global benchmark Brent crude hovered above $81 a barrel on Friday as sentiment on US demand rose, supported by supply disruptions in Libya and Nigeria. Brent and US West Texas Intermediate crude futures rose for the third consecutive session and in early Asian trading on Friday and are on track …

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• 14 July 2023 1:39 pm

  A slight decline in Japanese stocks, and the yen is heading to record the longest streak of gains since 2018

  

  Japanese stocks fell slightly at the end of trading today, Friday, with the yen heading towards its longest winning streak since 2018, with its rise for seven consecutive days. Hideo Hayakua, former director of the Bank of Japan, predicted in an interview with “Bloomberg” that the central bank would adjust …

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• 14 July 2023 12:40 pm

  European stocks open lower, but are heading for their best weekly performance in more than 3 months

  

  European stocks fell on Friday but remain on course for their biggest weekly percentage jump in more than three months, driven by hopes the Federal Reserve will stop raising interest rates soon as inflation subsides. The pan-European Stoxx 600 index was down 0.2 percent by 0702 GMT. However, it rose …

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• 14 July 2023 5:12 am

  Market Drivers – US Session – 13/07/2023

  

  The US Dollar sharply dropped again after the release of more inflation data from the US. The figures offer signals that inflation continues to cool, triggering more gains in Wall Street and Treasury bonds.Economic DataThe US Producer Price Index (PPI), which reached its peak in June 2022 at 11.2%, increased …

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• 14 July 2023 1:51 am

  Fed’s Waller: Economic data gives Fed space to hike further

  

  According to prepared remarks for delivery at a conference sponsored by The Money Marketeers of New York University, Federal Reserve Governor Christopher Waller has expressed his support for hiking rates at the July FOMC meeting. The decision-maker also demonstrated his reluctance to declare US inflation under control and supported further …

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• 14 July 2023 12:45 am

  US data push stocks higher for fourth day in a row

  

  Stocks surged as another significant inflation reading came in lower than anticipated. The Dow Jones Industrial Average gained 47.71 points, or 0.14%, to close at 34,395.14, while the S&P 500 rose 0.85% to reach 4,510.04, marking the S&P 500’s highest closing level in more than a year. The Nasdaq Composite …

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• 13 July 2023 11:41 pm

  GBP/USD rallies post US PPI data

  

  The GBP/USD pair has rallied after the US Producer Price Index (PPI) for June surged below estimates, indicating a steady deceleration of inflation in the largest world economy. The pair is trading at 1.3133 at the time of writing. The UK is seen as hardly missing a recession, but fears …

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