Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 24 June 2023 3:08 am

  Market Drivers – US Session – 23/06/23

  

  The EUR/USD pair came under strong bearish pressure on Friday. PMI surveys signaled a loss of growth momentum in the Eurozone economy. Euro could continue to push lower once 1.0870 is confirmed as resistance. FOMC Chairman Jerome Powell’s hawkish rhetoric on the second day of his congressional testimony and the …

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• 24 June 2023 2:03 am

  EUR/JPY erases daily losses amid sour sentiment

  

  In spite of the US session’s negative market sentiment, the EUR/JPY pair has managed to reverse its daily losses. The EUR/JPY pair has rebounded to 156.60 after finding support at a low of 155.06. The PMIs for Germany and Europe were weaker than anticipated. The Yen is weighed down by …

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• 23 June 2023 10:21 pm

  Wall Street heading for a losing week

  

  Stocks dipped on Friday, with Wall Street on track to post a losing week as a rally that carried the broader market in recent months appeared to run out of steam.The Dow Jones Industrial Average dipped 139 points, or 0.41%. The S&P 500 slid 0.40%, and the Nasdaq Composite was …

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• 23 June 2023 8:37 pm

  Natural Gas declines on PMI data signaling global slowdown

  

  Lower-than-expected PMI data from significant nations, particularly the US, which raises doubts about growth and ongoing demand, caused a decline in the price of natural gas. Due to a rise in demand for natural gas, which is used to power air conditioning in many nations, the price has been rising. …

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• 23 June 2023 7:39 pm

  Gold under pressure amid expected more rates hikes by year end

  

  Gold is trading at $1922 per ounce at the time of writing, up by +0.46% versus the previous closing price. During the months of April and May, the price of Gold breached the $2,000 mark and was only within a few Dollars away of the record high. Analysts even expect …

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• 23 June 2023 3:46 pm

  The British economy is faltering and price pressures are still high

  

  A survey revealed that signs of a slowdown appeared in the British economy this month, and that inflation pressures remain high. The survey was published a day after the Bank of England raised interest rates sharply and said it was ready to do more to curb inflation. An initial reading …

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• 23 June 2023 3:01 pm

  The Chinese capital raises its hot weather warning level to the highest level

  

  Beijing on Friday raised its hot weather alert to “red,” the highest level in a color system for weather warnings, with temperatures in many parts of the Chinese capital reaching 40 degrees Celsius. The Beijing Meteorological Administration said the capital’s official temperature, measured from the Southern Suburbs Observatory, was 40 …

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• 23 June 2023 2:05 pm

  European stocks open lower, and Siemens Energy shares plunge

  

  European stocks opened lower on Friday at the end of a week marked by a lot of monetary policy decisions from central banks, which supported views that interest rates may remain high for a longer period, while Siemens Energy plunged after the company withdrew its annual profit forecast. The pan-European …

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• 23 June 2023 1:07 pm

  USD is rising as risk appetite declines and GBP is falling

  

  The dollar was supported by a wave of risk aversion on Friday, as hawkish comments from global central banks, including the US Federal Reserve, raised fears of a further contraction of the economy. Sterling struggled to hold on to gains made by the Bank of England’s decision on Thursday to …

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• 23 June 2023 12:18 pm

  Japan’s Nikkei records its first weekly loss in 11 weeks, amid profit-taking

  

  The Japanese Nikkei index gave up early gains made at the beginning of the session on Friday, to close lower and record its first weekly loss after ten weeks of gains, in light of investors taking profits before an expected wave of selling by the end of the month to …

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• 23 June 2023 11:17 am

  Gold is poised for its worst week since February

  

  On Friday, gold prices are heading for the largest weekly loss since February, as the dollar received support from expectations of the Federal Reserve raising interest rates again this year, which pushed the non-yielding yellow metal to its lowest level in more than three months. By 0246 GMT, spot gold …

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• 23 June 2023 2:43 am

  Yellen warns of recession risk amid Fed’s hawkish stance

  

  “As the Fed tightens policy, a recession remains a risk,” noted US Treasury Secretary Janet Yellen late Thursday. The policymaker also added, “It is not appropriate to debate the 2% inflation target at this time.”US Treasury Secretary Yellen also said that to ease Consumer Price Index (CPI), consumer spending may …

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• 23 June 2023 1:46 am

  Gold dragged lower on hawkish central banks as PMI data eyed

  

  Gold Price renewed three-month low after five-day losing streak. It looks pressured on the hawkishness adopted recently by central banks. This hawkish stance amplifies economic fears and underpin the American currency’s demand, weighing on the Gold Index. Mostly upbeat US data, positive statements by Fed Chair Jerome Powell also bolstered …

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