Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 9 June 2023 4:29 pm

  US Dollar set for worst weekly performance since March despite modest recovery

  

  During early European trading on Friday, the US dollar rebounded from sharp losses in the previous session, as traders sought safe-haven assets following weak Chinese inflation data. Despite showing resilience against its major currency counterparts, the currency’s gains were presently limited, with modest daily gains near 103.50 after suffering its …

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• 9 June 2023 2:57 pm

  Concerns about demand cap oil’s gains

  

  Oil prices rose on Friday and were broadly stable for the week as Saudi Arabia’s pledge to cut production helped calm concerns about demand growth. And by 0932 GMT, Brent crude futures rose 36 cents, or 0.5 percent, to $ 76.32 a barrel, and West Texas Intermediate crude rose 34 …

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• 9 June 2023 2:08 pm

  Dollar is falling after the increase in US jobless claims

  

  The dollar fell on Friday, June 9, affected by the drop in US Treasury bond yields, after an increase in the number of weekly jobless claims in the United States raised hopes that US interest rates would reach their peak, with focus shifting to major central bank meetings to be …

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• 9 June 2023 12:46 pm

  European stocks stabilize and Croda shares lead losses after earnings expectations

  

  European stocks settled on Friday, at the end of a week of weak trading, which witnessed reluctance by investors before the issuance of the latest decisions of major central banks. Croda shares led the main index losses after lukewarm earnings expectations. The European Stoxx 600 index settled at 460.57 points …

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• 9 June 2023 12:45 pm

  Nikkei rose for the ninth consecutive week after fixing the final settlement price

  

  Japan’s Nikkei index rose sharply on Friday, marking its ninth consecutive week of gains, as investors took comfort from the fixing of the final settlement price. The Nikkei index rose 1.97 percent to close at 32,265.17 points, its biggest daily gain since last Monday. The index rose 2.35 percent for …

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• 9 June 2023 2:34 am

  Market Drivers – US Session – 08/06/2023

  

  On Thursday, Wall Street indexes rose sharply, boosted by easing expectations of a hawkish Federal Reserve ahead. A sharp increase in US Initial Jobless Claims pushed the US Dollar further to the downside. The Greenback ended the day looking vulnerable to more losses. US Treasury yields pulled back, paring Wednesday’s …

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• 9 June 2023 2:00 am

  US equities climbed building on recent gains

  

  On Thursday, the US stock market climbed higher as it built on its recent gains. Traders were looking ahead to key inflation data next week as well as the Federal Reserve’s latest policy announcement. The Dow Jones Industrial Average added 168.59 points, or 0.5%, to close at 33,833.61. The S&P …

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• 9 June 2023 12:17 am

  Gold benefits from declining T-yields, weaker dollar

  

  Gold prices rose sharply in the midday US trading session on Thursday due to the lower US dollar index and declining Treasury yields. August gold futures were last up $24.60 at $1,983.00 and July silver was up $0.796 at $24.325. The market is starting to focus on next week’s FOMC …

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• 8 June 2023 11:30 pm

  GBP/USD surges on weakened US dollar, BoE rate hike bets

  

  The GBP/USD pair skyrockets as US Jobless Claims are seen soaring and market participants expect the US central bank to pause policy tightening. The US Treasury bond yields are pressured and the US Dollar Index collapsed by 0.73%. The GBP/USD pair has surged due to a weakened US dollar and …

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• 8 June 2023 10:43 pm

  WTI rebounds as White House says “No deal on Iran oil”

  

  On Thursday, the White House denied a new report that the United States and Iran were close to a deal in which Iran would limit its nuclear program in return for sanctions relief. As a consequence, crude oil prices rebounded, trimming losses. The WTI barrel is down by just 1.50%, …

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• 8 June 2023 9:39 pm

  WTI retreats on reportedly looming US-Iran nuclear deal

  

  WTI, the US crude oil benchmark, dropped sharply during Thursday’s US trading session due to an “unconfirmed” report that the United States and Iran may be closer to a temporary nuclear deal, which could unblock sanctions imposed by the US on Iran oil exports. At the time of writing the …

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• 8 June 2023 8:39 pm

  US Dollar extends decline following initial job claims data

  

  The US Dollar has weakened against its major rivals on Thursday after the US Department of Labour announced that there were 261,000 Initial Jobless Claims last week. The Dollar Index, which gauges the USD’s valuation against a basket of six major currencies, stays deep in negative territory below 103.50. According …

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• 8 June 2023 7:42 pm

  Key expectations on Canada’s looming employment data

  

  Canada’s employment data for May will be reported by Statistics Canada on Friday, June 9. The North American economy is expected to have added 23.2K jobs after creating 41.4K positions in April. The unemployment rate is expected to rise a tick to 5.1%. If so, it would be the first …

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