Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 13 June 2023 9:45 pm

  AUD/USD hits five-week high amid cooling down CPI reading

  

  The AUD/USD pair gains 0.55%, trading at 0.6787 despite the US CPI data release. Fed is likely to delay rate hike as inflation cools down. Futures suggest hike likelihood at 58.2% next month. Despite the ongoing RBA tightening cycle, AUD boosted by marginal gain in Consumer Confidence. The AUD/USD pair …

  Read More »
• 13 June 2023 8:42 pm

  Could awaited rate decisions impact gold price?

  

  Gold is trading at $1945.45 at the time of writing, it is down by 0.60% at the time of writing as the stage is set for the major central banks in the world, particularly the Fed in the United States and the ECB in Europe.Economists and strategists point out how …

  Read More »
• 13 June 2023 7:37 pm

  T-yields climb as early inflation optimism fades

  

  US 10-year Treasury yields surged on Tuesday, reversing initial declines after economic data pointed to a slowing pace of rising inflation as investors now braced for the Federal Reserve’s policy announcement on Wednesday.The consumer price index (CPI) showed an annual increase in prices of 4% in May, slowing from a …

  Read More »
• 13 June 2023 2:19 pm

  Surprise UK wage jump raises bets on hiking interest rates

  

  Wage growth in the United Kingdom accelerated and employment increased in the three months to April, heightening predictions that the Bank of England will hike interest rates again, maybe multiple times, to combat persistent inflationary pressures. On Tuesday, data from the Office for National Statistics (ONS) showed that the employment …

  Read More »
• 13 June 2023 1:03 pm

  European stocks rise supported by the technology sector

  

  European stocks opened higher on Tuesday, supported by gains in technology stocks amid growing optimism that the Federal Reserve will not raise interest rates during its monetary policy meeting. The pan-European STOXX 600 was up 0.5% by 0715 GMT, with the interest rate-sensitive technology sector index up 1.5%. Investors are …

  Read More »
• 13 June 2023 12:28 pm

  Nikkei closes above 33 thousand points for the first time in 33 years

  

  Japan’s Nikkei index rose on Tuesday to close above 30,000 points for the first time in 33 years, supported by technology stocks amid expectations of an influx of investment into chipmakers. The index continued its rise for the third consecutive session, increasing 1.8 percent to 33,018.65 points, surpassing the important …

  Read More »
• 13 June 2023 11:50 am

  Dollar is falling amid anticipation of US inflation data and central bank decisions

  

  The dollar fell on Tuesday, but is trading in a narrow range, as investors remain cautious ahead of inflation data due in the United States later in the day, coinciding with the start of the Federal Reserve’s two-day monetary policy meeting. The Consumer Price Index report issued by the US …

  Read More »
• 13 June 2023 3:10 am

  CPI Preview: Forecast by 10 banks

  

  The US Bureau of Labour Statistics is expected to release the most important inflation measure, the US Consumer Price Index (CPI) figures, on Tuesday, June 13 at 13:30 GMT. The forecasts by the economists and researchers of 10 major banks regarding the upcoming United States inflation reading give insight about …

  Read More »
• 13 June 2023 3:00 am

  Market Drivers – US Session – 12/06/23

  

  US equities opened the trading week with positive performance ahead of key US economic data and monetary policy events. Markets cheered the possibility of the Fed’s ending its rate hike cycle. Incoming economic data will be crucial, with the CPI reading, in particular.The Dow Jones gained 0.56% and the Nasdaq …

  Read More »
• 13 June 2023 1:43 am

  Global economic concerns, pessimistic outlook drag WTI lower

  

  WTI crude oil prices have been affected by global economic concerns and a pessimistic outlook. Goldman Sachs has revised its forecast for WTI crude oil from $89 a barrel to $81 by the end of the year due to expectations of increased oil supplies from Russia and Iran. This downward …

  Read More »
• 13 June 2023 12:23 am

  Why has GBP/USD dipped from five-week high?

  

  Surging US bond yields constitute one factor why the GBP/USD pair retreated from five-week high. The pair is also eyeing key US and UK economic data releases on Tuesday. This retreat comes after failing to breach 1.2600, so the pair is now trading at 1.2512 amid climbing US Treasury bond …

  Read More »
• 12 June 2023 11:02 pm

  Gold price awaits key US data, FOMC decision

  

  In early US trading Monday, gold prices were slightly higher while silver prices were slightly lower. August gold was last up $1.90 at $1,979.10 and July silver was down $0.065 at $24.345. The marketplace is quieter just ahead of the FOMC monetary policy meeting and key CPI data and gold …

  Read More »
• 12 June 2023 9:52 pm

  Bitcoin Closely Watching CPI Data, Looming FOMC Decision

  

  Bitcoin prices dipped over the weekend amid an altcoin selloff but have since rebounded. The BTC/USD pair is up 1.55% and other cryptocurrencies edged higher on Monday, with digital assets primed to react to key macroeconomic forces in the coming days with the awaited US CPI inflation data and the …

  Read More »