Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 31 May 2023 7:42 pm

  US Dollar regathers momentum after job openings data, hopes on debt deal

  

  Th US Dollar has regathered its strength and rallied amid risk aversion. The dollar Index reached its highest level in over two months above 104.50 on Wednesday. The dollar’s performance is likely to continue to be impacted by risk perception in the second half of the day with investors keeping …

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• 31 May 2023 3:06 pm

  Oil falls on weak China data, stronger U.S. dollar

  

  Oil prices fell on Wednesday due to a stronger US currency and disappointing data from China, the world’s largest oil importer, raising demand concerns. At 1013 GMT, Brent oil futures for August delivery were down $1.29, or 1.75%, to $72.42 a barrel. West Texas Intermediate crude (WTI) in the United …

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• 31 May 2023 2:25 pm

  The Turkish economy grew 4% in Q1

  

  Official data showed on Wednesday that the Turkish economy grew by 4 percent in the first quarter of this year, slightly exceeding expectations. The growth came despite the repercussions of the devastating earthquakes that hit the south of the country in February. Data from the Turkish Statistical Institute showed that …

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• 31 May 2023 12:52 pm

  European stocks touch their lowest level in two months after weak Chinese data

  

  European stocks touched a two-month low on Wednesday after weak economic data from China fueled fears of a global slowdown and dashed optimism from signs of falling inflation in some major eurozone economies. The pan-European Stoxx 600 index fell 0.7 percent, its lowest since March 31. The main stock exchanges …

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• 31 May 2023 12:24 pm

  Japan’s Nikkei index ends a 4-day winning streak amid profit-taking and yen strength

  

  Japan’s Nikkei ended a four-day winning streak on Wednesday, with investors taking profits after the index hit a 33-year high earlier this week, and a stronger yen and disappointing Chinese data also weighed on the markets. The Nikkei index fell 1.41 percent to 30,887.88 points, its biggest daily decline since …

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• 31 May 2023 11:45 am

  Oil falls as weak Chinese data offsets progress on the US debt ceiling

  

  Oil prices turned lower after starting trading on a higher note on Wednesday, due to fears of slowing demand from China, the world’s largest oil importer, after weaker-than-expected economic data. Brent crude futures for August delivery fell 28 cents to $73.43 a barrel by 0250 GMT, while US West Texas …

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• 31 May 2023 1:39 am

  Market Drivers – US Session – 30/05/2023

  

  The debt ceiling agreement reached by US President Biden and House Speaker Kevin McCarthy is encountering difficulties, which is negatively affecting market sentiment. US markets ended with mixed results, as Treasury yields dropped significantly. Economic Data Consumer sentiment in the US weakened slightly in May with the Conference Board’s Consumer …

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• 31 May 2023 1:05 am

  Gold prices end higher on retreating US Treasury yields

  

  Gold prices ended higher Tuesday, partially buoyed by declining US Treasury yields, after the most-active futures contract briefly touched its lowest level since March overnight. Gold found support Tuesday from a retreat in US Treasury yields. Gold prices have retreated for most of May as the dollar has strengthened and …

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• 31 May 2023 12:14 am

  Tether Mining Operations in Uruguay inaugurated

  

  By mid-Q3 2023, Tether intends to mine its first bitcoin in the Uruguayan plant. By starting a mining facility in Uruguay that will be operational by the middle of the third quarter of 2023, Tether is doubling down on its Bitcoin plan, the company said to Blockworks on Tuesday. Tether …

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• 30 May 2023 10:37 pm

  USD/JPY retreats on intervention talk, declining T-yields

  

  The USD/JPY pair declined for two consecutive days following remarks from Japanese authorities indicating increased scrutiny of currency market movements. The Japanese Yen strengthens in response to the news, putting downward pressure on the USD/JPY pair.USD/JPY maintains an upward bias as long as it holds above the key level of …

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• 30 May 2023 9:41 pm

  Fed’s Barkin: parts of US economy are cooling

  

  Thomas Barkin, President of the Federal Reserve Bank of Richmond, stated on Tuesday that he is seeing evidence that interest rate hikes are curbing demand. He is attending a webinar organized by the National Association for Business Economics. According to Barkin, there is more willingness among businesses to increase prices, …

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• 30 May 2023 8:26 pm

  WTI retreats amid debt-ceiling concerns and OPEC’s mixed messages

  

  WTI falls for the second consecutive trading day on concerns about the passage of the US debt-ceiling bill and conflicting statements from oil producers. Some Republicans express reluctance to pass the debt-ceiling pact, raising fears about the US government’s ability to meet its financial obligations.WT crude oil benchmark retreats for …

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• 30 May 2023 7:14 pm

  CB Consumer Confidence Index declines in May

  

  CB Consumer Confidence Index declined modestly in May. The US Dollar Index stays in positive territory above 104.00. The US Dollar Index clings to small daily gains slightly above 104.00 after this report. Consumer sentiment in the US weakened slightly in May with the Conference Board’s Consumer Confidence Index edging …

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