Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 19 July 2023 9:45 pm

  BoE’s big hike unlikely after inflation surprise

  

  The Bank of England (BoE) is unlikely to raise interest rates due to the UK’s unexpected drop in inflation in June. The BoE raised rates 13 times since December 2021 to counter soaring price rises, which have driven up borrowing costs for millions. However, the UK’s inflation rate remains almost …

  Read More »
• 19 July 2023 8:39 pm

  ECB, BoE policymakers comment on Inflation in Eurozone, UK

  

  European Central Bank Governing Council member Yannis Stournaras told CGTN Europe on Wednesday that he wasn’t sure whether the ECB would hike rates again after 25 bps increase next week.“We might have one further move next week of 25 basis points, but I’m not sure that we’re going to go …

  Read More »
• 19 July 2023 7:41 pm

  Canada’s dollar drops on crude oil inventory draw

  

  The USD/CAD pair is trading in the 1.31s during the US session. The Canadian dollar wavers after data shows a lower-than-estimated crude oil inventory draw, reflecting weaker demand. The US dollar holds up surprisingly well despite lower-than-expected US housing data. Canada’s dollar trades lower against its US counterpart after crude …

  Read More »
• 19 July 2023 3:51 pm

  Inflation in the Eurozone slowed in June to 5.5%

  

  Inflation in the Eurozone slowed to 5.5% in June, in line with expectations, after 6.1% in May. Inflation in the eurozone for the month of June came in at the lowest level since January 2022. Despite this slowdown, core inflation, which excludes volatile items such as food and energy, rose …

  Read More »
• 19 July 2023 2:48 pm

  Kering stock raises the Stoxx 600

  

  European stocks rose on Wednesday, supported by a boost from Kering after it appointed a new CEO for Gucci, while stocks rose in London after data showed a slower-than-expected inflation in Britain. The pan-European Stoxx 600 index rose 0.5% by 0706 GMT, extending its gains for the second consecutive session. …

  Read More »
• 19 July 2023 1:50 pm

  Disappointing results for Goldman Sachs in the second quarter of 2023

  

  The American bank, Goldman Sachs, recorded earnings per share below expectations in the second quarter of 2023, at $ 3.08 per share, compared to expectations of $ 3.18 per share. The bank recorded revenues of $10.9 billion in the second quarter, compared to expectations of $10.84 billion. The bank is …

  Read More »
• 19 July 2023 12:28 pm

  Gold is falling due to the rise in USD

  

  Gold fell on Wednesday, after touching a one-and-a-half-month high in the last session, affected by a slight rise in the dollar, despite investors’ expectations that recent US economic readings will convince the Federal Reserve to stop the cycle of raising interest rates. Spot gold fell 0.1 percent to $1,976.05 an …

  Read More »
• 19 July 2023 11:36 am

  Oil is falling on concerns about US demand, despite Chinese stimulus

  

  Global oil prices fell on Wednesday after rising in early Asian trade, as markets balanced concerns about demand in the United States, China’s pledge to support economic growth, falling Russian supplies and falling US inventories. Brent crude futures fell 22 cents to $79.41 a barrel by 0403 GMT, and US …

  Read More »
• 19 July 2023 3:16 am

  Market Drivers – US Session – July 18

  

  EUR/USD was down in late New York trade but overall little changed after failing to breakout of last week’s highs again although hitting 1.12750, the highest since Feb. 2022 although failed to hold bullish above the 61.8% Fibo of the 2021-22 collapse at 1.1271. USD/JPY  was higher after Ueda dashed …

  Read More »
• 19 July 2023 1:48 am

  US stocks impressively rally ahead of key earnings

  

  Wall Street’s rally continued apace on Tuesday, with the Dow Jones Industrial Average rising to a 52-week high. Microsoft soared on news about its AI-powered Office tools and its AI alliance with Meta Platforms. META stock rose slightly, while AI chip leader Nvidia kept climbing. Financials continued to rally on …

  Read More »
• 19 July 2023 1:34 am

  Evergrande’s $81 billion loss renews China’s real estate woes

  

  Chinese real estate developer Evergrande has disclosed losses of $81 billion over 2021 and 2022, underscoring the significant debts that remain a concern for the financial health of the Chinese property sector and the world’s second-largest economy. Evergrande’s total liabilities continued to grow in 2022, reaching $335 billion compared to …

  Read More »
• 19 July 2023 12:06 am

  Gold prices climb to six-week high amid rate hike speculations

  

  The gold market is experiencing new momentum as prices test new significant resistance levels due to growing expectations that the Fed will cease its tightening cycle following its announcement of its monetary policy decision next week. At the time of writing gold is up by +1.20%; trading at 1977.71 per …

  Read More »
• 18 July 2023 10:57 pm

  USD/CHF retreats post-US Retail Sales data

  

  The USD/CHF pair dipped to the 0.8555 low, its lowest level since January 2015. US Retail Sales expanded in June but at a slower pace than expected and investors are confident that the Fed won’t hike past the July meeting.On Tuesday, the USD/CHF slid to its lowest level since January …

  Read More »