Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 21 June 2023 11:31 pm

  US stocks retreat for a third day on Powell’s testimony

  

  Fed Chair Jerome Powell clarified the Fed’s stance by saying that the process of getting inflation back down to 2% has a long way to go. The S&P 500 was lower Wednesday as investors took a breather from last week’s market rally, and weighed Federal Reserve Chair Jerome Powell’s latest …

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• 21 June 2023 9:06 pm

  Powell’s hawkishness is expected to support US dollar’s gains

  

  Federal Reserve Chairman Powell’s hawkish words are significantly weighing on market sentiment as broadly expected. Wall Street extends losses ahead of the opening, hinting at more risk-off trading. The EUR/USD pair is technically neutral in the near term and could correct lower once below 1.0890. The EUR/USD pair keeps trading …

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• 21 June 2023 8:04 pm

  Natural gas bounces on stalling US Dollar during Powell testimony

  

  The US Dollar stalls giving Natural Gas a boost after a three-day rally during Fed Chair Powell’s testimony before the Congress.Natural Gas finds support after Tuesday’s decline as higher-than-expected demand for Gas used in cooling puts a floor under prices. Concerns regarding Norwegian supply after data showed a slump in …

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• 21 June 2023 7:27 pm

  Fed’s Powell: Battle to bring down inflation still has ‘a long way to go’

  

  Fed’s Chair Jerome Powell is testifying before congressional lawmakers this week, starting Wednesday morning with the House Financial Services Committee, just one week after the central bank paused its most aggressive rate-hiking campaign in decades.Powell doubled down on the hawkish view that the Fed isn’t done battling inflation in his …

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• 21 June 2023 5:52 pm

  BoE Preview: Banks expect 25 bps

  

  The Bank of England (BoE) will publish its Interest Rate Decision on Thursday, June 22 at 11:00 GMT, and as the day approaches, below are the expectations anticipated by five major banks’ economists and experts. The “Old Lady” is projected to raise interest rates by 25 basis points (bps), to …

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• 21 June 2023 4:29 pm

  Gold is falling amid anticipation of Powell’s testimony

  

  Gold prices fell on the rise of the dollar on Wednesday, as investors await clues about interest rates from US Federal Reserve Chairman Jerome Powell’s testimony before Congress. And gold in instant transactions fell 0.1 percent to 1934.20 dollars an ounce by 1112 GMT, and its movements are limited to …

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• 21 June 2023 3:28 pm

  UK manufacturers see lowest inflation since Feb 2021 – CBI

  

  According to a study released on Wednesday, British manufacturers anticipate to boost prices by the fewest amount since February 2021 during the next three months, while price hikes will still be substantially quicker than their long-run average. The Confederation of British Industry (CBI) said that its monthly index of manufacturers’ …

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• 21 June 2023 1:18 pm

  Dollar stabilizes ahead of Powell’s speech and inflation data supports the pound

  

  The dollar rose on Wednesday before Federal Reserve Chairman Jerome Powell speaks to Congress as his comments are expected to reflect tightening monetary policy, while the British pound rose slightly after stronger-than-expected British inflation data. Britain’s consumer price index held steady at 8.7 percent in May, despite hopes that it …

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• 21 June 2023 12:06 pm

  Nikkei reverses its course and closes higher

  

  Japan’s Nikkei index reversed course to close higher on Wednesday as investors snapped up heavyweight stocks that have seen their prices decline, with SoftBank Group and chip-related stocks leading the gains. The Nikkei index rose 0.56 percent to close at 33,575.14 points, after falling as much as 0.7 percent earlier …

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• 21 June 2023 11:18 am

  Oil continues its losses due to Chinese growth concerns

  

  On Wednesday, oil prices extended losses for the third day in a row, on the back of the dollar’s rise thanks to the recovery of the US housing market, while demand concerns persisted, fearing that monetary stimulus in China will not be enough to revive growth. Brent crude futures fell …

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• 21 June 2023 6:59 am

  Market Drivers – US Session – 20/06/2023

  

  The US Dollar remained higher on Tuesday as the market mood declined on news that stirred fears about Chinese economic growth that is seen as having lost momentum. The focus now shifts to Fed Chair Jerome Powell’s testimony before Congress.Key DevelopmentsThe People’s Bank of China (PBoC) cut two key lending …

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• 21 June 2023 6:18 am

  Gold price pressured ahead of Fed’s Powell Testimony

  

  Gold price remains pressured after breaking 100-DMA support during three-day downtrend. Risk aversion underpins US Dollar strength and weighs on the Gold Index. Fears of economic slowdown originating from China, higher rates in the West roil sentiment and favuor gold sellers. Fed’s Jerome Powell’s bi-annual Testimony will be crucial to …

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• 21 June 2023 3:00 am

  Japan manufacturers’ sentiment positive for second month

  

  Business sentiment at big Japanese manufacturers edged up in June, staying in positive territory for a second straight month and reflecting a post-COVID economic recovery though uncertainty remains high amid slowing global growth for June.Following the release, USD/JPY stretches the previous day’s retreat from the highest level in seven months …

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