Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 30 May 2023 4:24 pm

  FTSE 100 drifts lower; WPP shines on AI deal with Nvidia

  

  The stock market in the United Kingdom traded neutral on Tuesday, as investors returned from a long weekend to absorb an agreement to lift the United States’ debt ceiling as well as new inflation fears. At 08:15 GMT, the benchmark FTSE 100 index was down 0.2%, the mid-cap FTSE 250 …

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• 30 May 2023 2:18 pm

  Oil falls 2% amid debt ceiling disputes in America and ambiguity over the OPEC + talks

  

  Oil prices fell nearly 2 percent on Tuesday, as concerns about the possibility of ratification of the debt ceiling agreement in the United States undermined risk appetite and mixed messages from major oil producers clouded the supply outlook ahead of their upcoming meeting days later. Brent crude futures fell $1.36, …

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• 30 May 2023 1:26 pm

  Turkish lira falls to a new record low while Erdogan chooses his government ministers

  

  The Turkish lira fell more than 1 percent to a new record low on Tuesday, while President Recep Tayyip Erdogan was choosing who would run economic policies in his government after winning Sunday’s re-election. The lira recorded an all-time low of 20.34 against the dollar, down from the closing level …

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• 30 May 2023 12:31 pm

  European stocks fell as investors weighed the risks to the US debt deal

  

  European stocks fell on Tuesday, affected by uncertainty that Congress will pass the US debt ceiling agreement to avert the country from a catastrophic default. The pan-European STOXX 600 index fell 0.2% by 0716 GMT, amid expectations that trading would gain momentum as the US and UK markets reopened after …

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• 30 May 2023 11:25 am

  Turkish lira fell to a new record low of 20.2 per dollar

  

  The Turkish lira fell to a new record low of 20.2 against the dollar on Tuesday, extending losses incurred since President Recep Tayyip Erdogan’s victory in Sunday’s presidential run-off. The lira fell 0.5 percent from the closing level it recorded on Monday at 20.0990 pounds per dollar, which was its …

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• 30 May 2023 3:08 am

  Market Drivers – US Session – 29/05/2023

  

  Tuesday is likely to see bigger market moves after a quiet Monday. Following an agreement in principle between US President Biden and Speaker Kevin McCarthy to raise the debt limit for two years, there was more activity over the weekend than on Monday. Key Developments The debt related compromise must …

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• 30 May 2023 12:26 am

  EUR/GBP weakens on Euro’s retreat

  

  The EUR/GBP pair is resuming its downward trend, edging closer to its yearly low, signaling potential bearish momentum in the pair. The current trend remains undecided below the 0.8700 resistance, awaiting a clear direction pressured down by failing German Yields.Market awaits ECB President Lagarde’s speech and German inflation data on …

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• 29 May 2023 11:25 pm

  USD/CHF consolidates modest losses below 0.9050

  

  As a result of the US debt-ceiling deal revealed on Sunday, interest in the US dollar declines, the USD/CHF trades for a second straight trading day with losses. This has fueled a bullish market sentiment that is hated by the safe-haven dollar, the greenback. Additionally, the low volume in the …

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• 29 May 2023 10:18 pm

  GBP/USD records gains as week’s focus shifts to NFP

  

  GBP/USD records gains for the second trading day in a row. The US debt-ceiling deal favoured a positive market environment. Focus, this week, shifts to NFP data from May from the US. The GBP/USD pair trades with gains at 1.2358 and benefits from the positive market sentiment fueled by the …

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• 29 May 2023 9:30 pm

  Oil price restricted on US debt deal, holiday thin volume

  

  Oil price finds some restriction after Republicans and Democrats have agreed on a deal to extend the US government debt ceiling on Sunday. The deal means a default is unlikely and boosts demand prospects in the US. US interest rates are expected to rise further after debt deal and strong …

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• 29 May 2023 8:16 pm

  Global investors welcoming debt deal despite looming risks

  

  As politicians work to push the agreement through Congress before the new June 5 deadline, international investors are simulating the market effects of that deal.Investors predicted that a deal between the White House and House Republicans to raise the $31.4 trillion debt ceiling would prevent a disastrous American default, increase …

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• 29 May 2023 7:23 pm

  Why is gold poised to remain under pressure?

  

  The US inflation target has not been realized yet. Price pressures look too sticky and the country’s economy is showing little weakness. Therefore, the US dollar remains strong, and accordingly, gold could remain under downside pressure. Economists also see chances for further rate hikes by the US central bank more …

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• 29 May 2023 4:33 pm

  U.S. stock futures point higher after debt ceiling deal

  

  US stock futures rose in modest holiday trade on Monday as legislators in Washington reached an agreement to raise the $31.4 trillion debt ceiling and avoid a potentially catastrophic default. By 11:32 GMT, the Dow futures contract had gained 60 points, or 0.18%, the S&P 500 futures had gained 10 …

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