Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 26 July 2023 2:52 pm

  Australia fines Meta $14 million for collecting user data for advertising purposes

  

  An Australian court has ordered Meta Platforms, owner of Facebook, to pay fines a total of A$20 million ($14 million) for harvesting user data through a smartphone app that was promoted as a way to protect privacy without disclosing its actions. The Australian Federal Court also ordered Mita to pay …

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• 26 July 2023 1:01 pm

  Gold rises as traders await indications from the Fed

  

  Gold rose, but its movements remained within a narrow range on Wednesday, as dealers held back from big bets ahead of the US Federal Reserve’s policy decision later in the day. Spot gold rose 0.3 percent to $1,969.51 an ounce by 0747 GMT. US gold futures rose 0.4 percent to …

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• 26 July 2023 10:22 am

  Nikkei closes lower ahead of the BoJ meeting

  

  The Japanese Nikkei index fell slightly on Wednesday, July 26, under pressure from the decline in stocks of auto and tire makers, while investors engaged in selling to take profits ahead of the monetary policy meeting of the Central Bank of Japan, which lasts for two days this week. The …

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• 26 July 2023 9:34 am

  Oil is falling due to the increase in US crude stocks

  

  Oil prices fell on Wednesday, retreating from their highest levels in three months the day before, after industry data showed a rise in US crude stocks, but signs of shrinking global supplies and hopes for a stimulus in China limited losses. Brent crude futures fell 32 cents, or 0.4 percent, …

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• 26 July 2023 4:04 am

  Market Drivers – US Session – July 25

  

  Wall Street saw another successful trading day with the Dow Jones climbing by 0.08% and the Nasdaq increasing by 0.61%. The positive tone prevailed ahead of key events for markets, supported by hopes of more stimulus from China and for the near end of the tightening cycle from central banks. …

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• 26 July 2023 3:40 am

  Dow records longest rally since 2017 ahead of rate policy decision

  

  As traders considered the most recent earnings reports, the Dow Jones Industrial Average closed higher for the 12th straight day, recording its longest winning streak in more than six years. The Dow gained 26.83 points, or 0.08%, to reach 35,438.07, making it the 30-stock index’s 12th straight winning session and …

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• 26 July 2023 2:55 am

  FOMC Decision Preview: Is it possible to hike rate and avoid recessionary impact?

  

  The American central bank is expected to raise interest rates by another quarter point at its July 25-26 meeting, marking their eleventh total increase since March 2022. This decision comes after investors and consumers celebrated an inflation win in June, with prices rising 3% from the previous year. Core inflation, …

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• 26 July 2023 12:07 am

  Gold gains amid Fed’s decision expectations

  

  In anticipation of the post-FOMC meeting press conference and the Fed’s monetary policy statement, uncertainty has caused gold to recover from four straight days of losses and move over the 100-day SMA.  The precious metal is trading at $1964.99 per ounce at the time of writing. The US released strong …

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• 25 July 2023 10:49 pm

  Alphabet earnings surpass market expectations

  

  Google’s parent company; Alphabet, reported Q2 earnings on Tuesday, beating expectations on both the top and bottom lines, sending the stock up as much as 6% in after-hours trading. Google ad revenues totaled $58.14 billion in the quarter, better than the $57.5 billion expected and $56.3 billion reported in the …

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• 25 July 2023 9:38 pm

  USD/CAD strengthens ahead of FOMC decision

  

  Crude Oil prices are undermining the Loonie and USD, with the USD/CAD pair experiencing a mixed trend. The commodity-linked Loonie is undercut as Crude Oil prices continue to rise to almost a three-month high.The US dollar has stalled its recovery move from the lowest level since April 2022, with profit-taking …

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• 25 July 2023 8:42 pm

  Ahead of FOMC decision, WTI climbs amid Chinese stimulus

  

  The WTI climbed above $79.00. The American crude records a four-day winning streak on Tuesday, but the upside may be limited to technical indicators starting to flash overbought conditions.Chinese economic stimulus supported Oil prices while focus in the markets shifts to Wednesday’s Fed decision. Earlier in the day, Chinese news …

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• 25 July 2023 7:48 pm

  US Dollar stays strong ahead of FOMC policy decision

  

  The US Dollar holds firm against its major rivals early Tuesday. The US Dollar Index clings to modest daily gains near 101.50. US data highlighted a further improvement in consumer sentiment in July.The US Dollar gains traction on Tuesday, with the USD index touching its highest level since July 12 …

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• 25 July 2023 4:02 pm

  Stability of European stocks after mixed results for the companies’ business

  

  European stocks settled near their highest levels in five weeks today, Tuesday, and shares of mining and luxury goods companies led the gainers, after China pledged more support for its slowing economy, but the mixed results of the companies’ business limited the gains. The European Stoxx 600 index was little …

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