Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 7 September 2023 4:10 am

  Market Drivers – US Session, Sep. 6

  

  As US markets continue to decline, with the Dow Jones losing 0.57% and the Nasdaq losing 1.05%, risk aversion is still evident. Market investors will pay special attention to Chinese trade statistics throughout the Asian session. Positive results might allay worries about the Chinese economy’s current status.EUR/USD reached fresh monthly …

  Read More »
• 7 September 2023 2:46 am

  Could gold reshine on Thursday?

  

  Following a five-day losing skid, the price of gold has increased from a one-week low to $1,918 on Thursday during the Asian session. Because of the strengthening US Dollar, rising US Treasury bond yields, worries about China, and other factors, the price of gold is declining. The US ISM Services …

  Read More »
• 7 September 2023 1:35 am

  Biden administration reinstates halted oil drilling permits in Alaska

  

  In order to build and expand oil drilling projects in the Arctic National Wildlife Refuge, the state of Alaska was awarded oil drilling leases in 2017. The White House administration of President Joe Biden has revealed plans to formally revoke these leases. The leases, issued by the former administration of …

  Read More »
• 6 September 2023 11:58 pm

  USD/CAD poised to break through despite the BoC’s hawkish stance

  

  The USD/CAD pair increases as rising US Treasury yields result from positive economic data in the United States. Although the Bank of Canada maintained interest rates steady, it cautions that further increases should not be ruled out. Despite the BoC’s aggressive stance, the US dollar dominates the foreign exchange market, …

  Read More »
• 6 September 2023 10:42 pm

  Beige Book: Economic growth modest in July, August, job growth was subdued

  

  According to Federal Reserve’s Beige Book, economic growth was modest during July and August. It added that job growth was subdued. “Most Districts reported price growth slowed overall, decelerating faster in manufacturing and consumer-goods sectors,” the Beige Book noted. Key Takeaways: Contacts from most Districts indicated economic growth was modest …

  Read More »
• 6 September 2023 9:31 pm

  Oil prices pull US stocks lower

  

  US stocks tumbled Wednesday morning as the price of oil hovered around a 10-month high after surging yesterday on Saudi Arabia’s production cuts.The Nasdaq was down 1.4% in the early afternoon, while the S&P 500 lost 1% and the Dow Jones Industrial Average fell 0.9%.Oil futures jumped more than 2% …

  Read More »
• 6 September 2023 8:23 pm

  ECB could decide a final hike next week

  

  The Governing Council of the European Central Bank (ECB) will convene the following week. Analysts believe that the ECB will carry out one more 25 basis point rate hike. They claim that the ongoing strong inflation momentum and the anticipated inflation levels above the target are what led to this …

  Read More »
• 6 September 2023 7:22 pm

  US dollar soared following ISM data

  

  On Wednesday, the US dollar (USD) is causing traders to lose their bearings. During morning European trading hours, when the Greenback was trading more subduedly, the Euro was the talk of the town. The European currency quickly rose in value as a result of the hawkish remarks made by two …

  Read More »
• 6 September 2023 3:19 pm

  Kremlin: Putin, Saudi Crown Prince confirm reducing oil supply ensures market stability

  

  The Kremlin said on Wednesday that Russian President Vladimir Putin spoke by phone with Saudi Crown Prince Mohammed bin Salman and that the two leaders indicated that the latest agreements on reducing oil supplies ensure stability in global energy markets. Saudi Arabia and Russia announced on Tuesday the extension of …

  Read More »
• 6 September 2023 1:55 pm

  Gold rises as the dollar and US Treasury yields fall

  

  The price of gold rose from its lowest level in a week on Wednesday, with US Treasury bond yields declining and the dollar abandoning the highest levels reached in the previous session, but expectations of keeping interest rates high limited the gains of bullion. Spot gold rose 0.1 percent to …

  Read More »
• 6 September 2023 12:50 pm

  European stocks continue their losses affected by fears of an economic slowdown

  

  European stocks extended their losses for the sixth straight session on Wednesday as concerns about the global economic slowdown and rising crude oil prices leading to inflationary pressures made investors reluctant to take risks. By 0713 GMT, the STOXX 600 index was down 0.5 percent, hovering near its lowest level …

  Read More »
• 6 September 2023 11:34 am

  Japanese stocks continue their gains

  

  Japanese stocks closed at new highs on Wednesday as the weakest yen since November supported automakers, while energy stocks gained amid rising crude oil prices. The Nikkei index closed 0.62 percent higher at 33,241.02 points, its highest closing level in a month. The Topix index also ended trading up 0.62 …

  Read More »
• 6 September 2023 12:02 am

  GBP/USD slides on weaker UK business activity

  

  Amid gloomy UK PMI data and a slowing global economy, the pound sterling falls. The GBP/USD pair declines 0.42% to trade at 1.2567 as a result of the UK’s S&P Global/CIPS Composite PMI falling to 48.6, entering contraction zone for the first time since January. The pair is trading at …

  Read More »