Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 29 May 2023 3:38 pm

  European shares lack momentum after debt ceiling deal

  

  European market indices fell marginally on Monday, lacking impetus in thin trade, but Wall Street futures remained optimistic after the US achieved a debt ceiling deal over the weekend. On Saturday, US President Joe Biden and senior congressional Republican Kevin McCarthy reached a tentative agreement to lift the federal government’s …

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• 29 May 2023 2:13 pm

  Turkish lira is falling to a new record, and stocks are rising after Erdogan’s victory

  

  The Turkish lira fell to a new record low against the dollar on Monday, but stocks rose after President Recep Tayyip Erdogan won re-election on Sunday, ushering his increasingly authoritarian rule into a third decade. The lira fell to 20.065 pounds per dollar in early European trading, surpassing the previous …

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• 29 May 2023 12:28 pm

  USD stabilizes with increasing expectations of interest rate hike and optimism about debt ceiling

  

  The dollar held steady on Monday amid rising expectations of a Federal Reserve hike in interest rates, despite news of a debt ceiling agreement that drove some hedge-seekers away from the greenback. The dollar recorded its highest level in six months against the Japanese currency at 140.91 yen in early …

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• 29 May 2023 10:53 am

  Asian stocks rise, Nikkei at 33-year high on debt ceiling optimism

  

  Most Asian equities rallied on Monday as markets hailed a tentative agreement reached by US legislators to raise the debt ceiling and avoid a default, with Japan’s Nikkei resuming its near-33-year highs on better risk appetite. The Nikkei 225 led Asian markets, rising 1.4% to its highest level since July …

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• 29 May 2023 9:41 am

  Oil rises after reaching an initial agreement on the US debt ceiling

  

  Oil prices rose in early Asian trade on Monday after US leaders reached a tentative agreement on the government’s debt ceiling, which could prevent a catastrophic default in the world’s largest economy and oil consumer. And by 2317 GMT, Brent crude futures rose 39 cents, or 0.5 percent, to $ …

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• 29 May 2023 9:07 am

  Gold prices are falling after reaching an agreement regarding the US debt ceiling

  

  Gold prices fell on Monday after a tentative agreement was reached on suspending the US debt ceiling at the weekend, as concerns about prolonged interest rate hikes dampened appetite for the non-interest-bearing metal. And by 0252 GMT, spot gold fell 0.1 percent to $ 1944.09 an ounce, hovering near its …

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• 29 May 2023 4:23 am

  Financial Markets’ Weekly Recap, May 22-26

  

  US stocks closed higher on Friday as progress was made in talks to raise the US debt ceiling, while chip stocks jumped for the second day amid optimism about artificial intelligence. After several rounds of talks, a US official told Reuters that US President Joe Biden and Republican House Speaker …

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• 27 May 2023 2:54 am

  Market Drivers – US Session – 26/05/2023

  

  Tech stocks pushed solid gains for Wall Street on Friday after another chipmaker reported strong demand related to artificial intelligence. The gold market suffered another week of losses, falling for the third week as markets shifted expectations from a rate pause to a rate hike at the Fed’s policy meeting …

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• 27 May 2023 2:31 am

  US equities sharply higher on debt ceiling deal optimism

  

  US stocks finished sharply higher on Friday on hopes that talks on raising the US debt ceiling could further progress and a deal could eventually be made, while chip stocks surged for a second straight day on optimism about artificial intelligence.After several rounds of talks, US President Joe Biden and …

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• 27 May 2023 1:16 am

  US Sec. Yellen extends deadline for default to June 5

  

  The US Treasury Secretary Janet Yellen spoke on Friday and extended the deadline for raising the federal debt limit, saying the government could default on its debt as early as June 5 without increasing the country’s $31.4 trillion debt ceiling. Yellen had previously put that date as in early June, …

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• 26 May 2023 11:54 pm

  IMF suggests US interest rates needs to be higher for longer

  

  Kristalina Georgieva, Managing Director of the International Monetary Fund, has crossed the wires with the following comments:US economy has proven resilient in face of significan fiscal and monetary tightening -article iv review statement.Expects US growth to be around 1.2% in 2023, picking up momentum later in 2024.US unemployment to rise …

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• 26 May 2023 10:36 pm

  Following three week losses, Wall Street divided on gold price direction

  

  The gold market suffered another week of losses, falling for the third week as markets shifted expectations from a rate pause to a rate hike at the Fed’s policy meeting in June. The sentiment on Wall Street is now split on whether gold is done falling. Upbeat macro data and …

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• 26 May 2023 10:17 pm

  US debt ceiling talks get closer to a deal

  

  The US debt ceiling talks are nearing agreement as the default deadline looms, with Wall Street and European shares rising as the White House and congressional Republicans work on the final touches of a package to present to Congress. House speaker Kevin McCarthy arrived at the US Capitol on Friday …

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