Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 16 June 2023 11:01 pm

  USD/CAD to close on weekly decline amid hawkish Fed speaks

  

  The USD/CAD pair is expected to end a third consecutive week of decline as hawkish Fed speakers limit the pair’s upside potential. On Friday, the USD/CAD continued its downward momentum dropping to a low of 1.3188 and it is set to confirm a 100 pips weekly decline. At the time …

  Read More »
• 16 June 2023 9:38 pm

  EUR/USD trims gains as hawkish remarks digested

  

  The EUR/USD pair’s rally slowed down following the ECB rate hike and hawkish remarks from central bankers. US Consumer Sentiment improves, supporting a stronger USD; Eurozone inflation slows as expected. Hawkish stances by both ECB and Fed officials hint at potential further tightening. Upcoming key events include the German May …

  Read More »
• 16 June 2023 8:01 pm

  Fed: Outlook for funds rate subject to considerable uncertainty

  

  Inflation in the US is well above target and the labor market remains very tight, the US Federal Reserve’s recently published monetary policy report to Congress read, ahead of Chairman Jerome Powell’s Capitol Hill testimony next week, per Reuters.In reaction; the US Dollar Index clings to modest recovery gains near …

  Read More »
• 16 June 2023 4:00 pm

  Gold rises as the dollar weakens, but the path of raising US interest rates caps the gains

  

  Gold rose on Friday after the dollar hovered near a one-month low, but expectations of an increase in US interest rates this year limited gains. And gold in spot transactions increased 0.3 percent to $ 1964.19 an ounce by 1030 GMT, on its way to rise 0.2 percent this week. …

  Read More »
• 16 June 2023 1:38 pm

  European stocks rose at the open, with the healthcare sector leading the gains

  

  European stocks rose at the open on Friday, supported by gains led by the healthcare sector at the end of a busy week of monetary policy decisions by central banks. And by 0717 GMT, the European Stoxx 600 index rose 0.2%, and the healthcare sector index rose 0.5%. The STOXX …

  Read More »
• 16 June 2023 12:46 pm

  Oil is heading higher after two weekly losses, amid optimism about Chinese demand

  

  Oil prices are heading to record a weekly rise on Friday, after incurring losses for two consecutive weeks, amid optimism about the rise in energy demand in China, the largest importer of crude, and the weakness of the dollar. By 0632 GMT, Brent crude futures rose 20 cents, or 0.3 …

  Read More »
• 16 June 2023 10:57 am

  Yen is falling after the BoJ kept interest rates low

  

  The yen fell after the Bank of Japan on Friday kept interest rates ultra-low and predicted inflation would slow later this year, reiterating its monetary easing stance that runs counter to the tightening policies of other central banks around the world. As widely expected, the BoJ kept the short-term interest …

  Read More »
• 16 June 2023 9:52 am

  Asian stocks rise on dovish BOJ, China stimulus hopes

  

  Most Asian stocks rose on Friday tracking dovish signals from the two largest central banks in the region, as the Bank of Japan maintained ultra-low interest rates and as the People’s Bank of China began trimming borrowing costs.  Still, bigger gains were limited as markets remained on edge over worsening …

  Read More »
• 16 June 2023 2:47 am

  Market Drivers – US Session – 15/06/2023

  

  The Bank of Japan’s decision about Friday’s Asian session will be the week’s final major event. The University of Michigan will publish its Consumer Sentiment survey in the US later in the day. Market players will continue to analyse the decisions made at the most recent central bank meetings on …

  Read More »
• 16 June 2023 1:19 am

  Why is Yellen warning of decoupling from China?

  

  US Treasury Secretary Janet Yellen has warned any effort to decouple from China would be “disastrous”, saying national security measures targeted at Beijing were not designed to “stifle” the Chinese economy. Yellen also cautioned against the idea of decoupling with China, stating that such a move would be “a big …

  Read More »
• 15 June 2023 11:31 pm

  Oil futures higher on strong Chinese data, softer dollar

  

  On Thursday, oil prices rose 3% to a one-week high as the US currency weakened and new data showed an increase in refinery operations in China, the world’s largest crude importer. By 1:00 p.m. EDT (1700 GMT), Brent futures were up $2.07, or 2.8%, to $75.27 per barrel and even …

  Read More »
• 15 June 2023 9:47 pm

  Gold rebounds from three-month low on soft dollar

  

  The Gold Index climbed 0.86% in the trading, spurred on by a softer US Dollar and retreating US bond yields. Despite the Fed’s rate hike pause, US Treasury yields are retreating, signaling broad market skepticism over monetary tightening. US Retail Sales see an unexpected rise in May, bucking predictions, but …

  Read More »
• 15 June 2023 8:39 pm

  Which cryptocurrencies challenge negative sentiment after Fed’s pause?

  

   Bitcoin, Ethereum prices dipped after the US Fed signaled additional interest-rate increases before the end of 2023. Uniswap, Algorand and Terra LUNA Classic price saw gains  amid a broad market decline. UNI’s release of v4 code, Algorand’s recent partnerships and Terra Classic’s release of v2.1.1 parity upgrade has acted as …

  Read More »