Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 13 July 2023 10:47 pm

  Gold maintains choppy performance despite dollar’s losses

  

  Gold maintains choppy performance despite US dollar’s losses Given that the market’s expectations for future US interest rate increases have been greatly reduced, the recent decline in gold prices is likely to have come to an end. Even so, we anticipate some additional upside potential for the year’s conclusion. Because …

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• 13 July 2023 9:29 pm

  Treasury Department: US budget deficit nears $228 billion in June

  

  The US federal budget deficit sharply widened to $227.76 billion in June, up from $88.8 billion in the same month last year. The deficit was $1.39 trillion for the first nine months of the fiscal year, up from $515.1 billion in the same period last year. Government receipts fell from …

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• 13 July 2023 8:49 pm

  Fed’s Daly: Too early to declare victory on inflation

  

  In an interview with CNBC on Thursday, San Francisco Federal Reserve President Mary Daly said it was too early to declare victory on inflation, as reported by Reuters.Daly’s comments were not capable of helping the US Dollar find demand. As of writing, the US Dollar Index was down 0.55% on …

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• 13 July 2023 7:39 pm

  IMF: China’s growth slowing on weaker private investment

  

  A spokesperson for the International Monetary Fund (IMF) said on Thursday that slowing exports and weaker private investment cause China’s growth momentum to slow, per Reuters.There doesn’t appear to be any discernible effect of these remarks on risk mood. As of writing, the S&P 500 Index was up 0.6% on …

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• 13 July 2023 5:17 pm

  A sudden drop in US weekly jobless claims

  

  The number of Americans filing new applications for unemployment benefits unexpectedly fell last week, indicating a persistent labor shortage in some sectors of the market even as job growth slowed. On Thursday, the Labor Department said first-time jobless claims fell by 12,000 jobs to 237,000 when adjusted for seasonal factors …

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• 13 July 2023 4:00 pm

  IEA expects a shortage of supply in the oil market

  

  The International Energy Agency said on Thursday that oil demand will rise to a record level this year as supply tightens, but in light of adverse economic conditions and interest rate hikes, the increase will be slightly smaller than expected. However, the Paris-based agency expects demand growth next year to …

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• 13 July 2023 12:31 pm

  European stocks rise, but mixed data limit gains

  

  European stocks rose Thursday, July 13, as US inflation data boosted hopes that the US Federal Reserve is about to end the monetary tightening cycle after the Corona virus pandemic, although a mixed set of economic data limited the increase in gains. The pan-European Stoxx 600 index rose 0.1% by …

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• 13 July 2023 11:37 am

  The British economy contracted slightly less than expected in May

  

  Britain’s economy contracted less than expected in May despite the impact of strikes and an extra holiday for banks to mark King Charles’ coronation, putting it on track to avoid contraction in the second quarter of the year. The Office for National Statistics said on Thursday that Britain’s economic output …

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• 12 July 2023 10:10 pm

  Why Is Portugal Warning Of More ECB Hiking?

  

  Portugal warned that further interest rate hikes by rhe European Central Bank will put the Eurozone growth in peril. The country’s finance minister says tightening to date is not fully absorbed. Further interest-rate increases by the European Central Bank would add to the dangers for the euro-area economy as it …

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• 12 July 2023 9:59 pm

  US stocks climb post softer US inflation data

  

  US stocks climbed after a softer than expected inflation report for June revived hopes the Federal Reserve was nearing the end of its interest rate increases.The Dow Jones Industrial Average was up 265 points or 0.8%, while the S&P 500 was up 0.9% and the NASDAQ Composite was up 1.2%. …

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• 12 July 2023 8:42 pm

  Weak US CPI data drags USD/CHF lower to 8-year low

  

  The USD/CHF pair has retreated to an 8-year low due to weak US CPI data, which indicates a more balanced supply-demand situation. The Consumer Price Index shows inflation cooling, with core CPI indicating a more balanced supply-demand situation. With inflation above the Fed’s 2% target, odds for a significant rate …

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• 12 July 2023 7:42 pm

  Macklem explains policy after BoC hike decision

  

  The Bank of Canada announced that it will raise the benchmark interest rate by 25 basis points to 5% in July, following its July policy meeting. This decision came in line with market expectations, as the Canadian economy has been stronger than expected and more momentum in demand. The BoC …

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• 12 July 2023 4:34 pm

  Dollar is falling ahead of US inflation data, and sterling is at its highest level in 15 months

  

  The dollar fell, hitting a two-month low on Wednesday, July 12, against other major currencies ahead of the release of US inflation data, while the British pound rose to a 15-month high on expectations that the Bank of England will continue to raise interest rates. The yen jumped to the …

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