Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 8 June 2023 3:05 pm

  Eurozone final Q1 Gross Domestic Product revised to -0.1% QoQ

  

  The Eurozone GDP decreased in the first quarter of 2023, according to Eurostat’s final estimate released on Thursday. The former continent’s Gross Domestic Product (GDP) fell 0.1% in the first three months of current year compared to the previous quarter. During the stated time, the preliminary number showed a 0.1% …

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• 8 June 2023 2:09 pm

  Dollar hovers near three-month highs as traders gauge rates outlook

  

  The dollar dipped slightly on Thursday but stayed near three-month highs after the Bank of Canada raised interest rates unexpectedly, implying that other central banks, including the Federal Reserve, may have more work to do to contain inflation. Early in the European day, the euro was up 0.1% at $1.071 …

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• 8 June 2023 1:01 pm

  European stocks open lower on interest rate concerns, and Novartis shares rise

  

  European stocks fell on Thursday, affected by the decline in technology stocks, which are sensitive to interest rate movements, on expectations that large central banks will continue to raise interest rates, but the gains of the Swiss healthcare group Novartis contributed to limiting losses. And by 0715 GMT, the European …

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• 8 June 2023 12:17 pm

  Oil stabilizes as investors evaluate supply and demand drivers

  

  There was little change in oil prices in early Asian trading on Thursday, as investors assessed concerns about demand amid a slowdown in the global economy against an expected decline in supplies thanks to Saudi production cuts. And by 0110 GMT, Brent crude futures fell one cent to $76.94 a …

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• 8 June 2023 12:16 pm

  Japan’s Nikkei declines for a second day after the rise in technology stocks lost momentum

  

  Japan’s Nikkei index witnessed a sharp decline for the second day in a row on Thursday, as investors took profits from a recent rally in technology stocks. The Nikkei’s losses accelerated in the second half of the session, falling 0.85 percent at the close, recording 31,641.27 points. The broader Topix …

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• 8 June 2023 2:17 am

  Market Drivers – US Session – 07/06/2023

  

  On Wednesday, the Bank of Canada surprised markets by raising its key rate by 25 basis points to 4.75%, citing persistent excess demand and increasing concerns that inflation could “get stuck” materially above the target. This decision follows the Reserve Bank of Australia’s hike on Tuesday, which also exceeded economic …

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• 8 June 2023 1:54 am

  How could oil price react to recent inventory news?

  

  Recovery in oil imports could provide some comfort to the oil market. However, the most recent economic data out of China continues to be a concern for the market and could result in lower demand for crude and other commodities and slower-than-expected global oil demand growth this year. The weaker-than-expected …

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• 8 June 2023 12:51 am

  Ethereum Layer 2 tokens stir unexpected crypto optimism

  

  Arbitrum and ImmutableX started price rallies in response to the SEC’s regulatory crackdown. Optimism completed its Bedrock hard fork earlier today, reducing the Layer 2 solution’s gas fees by 40%. OP, ARB and IMX prices yielded between 3% and 6% gains for holders since Tuesday. In other words, while mainstream …

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• 7 June 2023 11:55 pm

  US stocks slide after recording biggest midday moves

  

  On Wednesday, US stocks experienced a decline due to a shift away from technology stocks that negatively impacted the Nasdaq. Additionally, profit-taking ahead of key economic and policy events next week caused the S&P 500 to slide. The Dow Jones Industrial Average surged 71.82 points, or 0.21%, to 33,645.1, the …

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• 7 June 2023 10:34 pm

  UK Energy Investments At Risk Ahead Of Elections

  

  According to a recent report, some $30bn (£24.2bn) of investment in new UK energy projects is at risk if Labour wins the next election. The report suggests that a Labour government could send a signal to investors that the UK is not a secure destination for new energy projects, deterring …

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• 7 June 2023 9:59 pm

  RBA Hope of No Recession Doubted On Crashing Yield Curve

  

  Australia’s bond market is showing serious concern the central bank will push the country into a recession. The Australian key yield curve shrank to 13 basis points on Wednesday after data showed the economy slowed more than expected last quarter, while accelerating labor costs underlined the nation’s inflation challenge.The key …

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• 7 June 2023 8:57 pm

  Gold slides on surging US T-yields, global economic woes

  

  Gold prices decline, hindered by rising US bond yields and the greenback’s resilience; XAU/USD is down 0.50%. Gloomy global economic outlook impacts sentiment, with disappointing export data from China and broadened US trade deficit.The US dollar gains momentum as the US Dollar Index (DXY) pares earlier losses, adding pressure on …

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• 7 June 2023 7:46 pm

  EUR/USD jumps on hawkish ECB remarks, US trade deficit reading

  

  The EUR/USD pair buoyed by hawkish ECB commentary bounces off 200-day EMA as Fed June rate hike expectations fade. The US trade deficit widens significantly to $-74.6B, driven by a decline in exports and a rise in imports. Rate hikes by BoC and RBA influence US Treasury bond yields, signaling …

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