Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 28 July 2023 9:47 pm

  USD/CAD lower as Canadian data fails to boost Canadian dollar

  

  On Friday, the USD/CAD pair is trading sideways, holding close to its levels from a week ago. The Canadian GDP increased by 0.3% in May, and core consumer inflation in the US is decreasing, according to US data. The price of the pair rose to weekly highs at 1.3248 but …

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• 28 July 2023 8:41 pm

  What could US economy’s soft landing mean for gold prices?

  

  Interest rate expectations are likely to continue driving the price of the precious metals. US economic data should be a key driver of the gold price as most economists and analysts suggest. At the time of writing, gold is trading up by +0.75 at $1960.38 per ounce.The US economy grew …

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• 28 July 2023 7:23 pm

  Procter & Gamble record very strong earnings on price hikes

  

  Procter & Gamble reported slightly better fiscal quarter results than Wall Street had anticipated due to higher prices. CEO Jon Moeller stated that consumers remain strong and seek brands they know and trust. P&G benefits from a decline in commodity prices, particularly in petro and pulp prices, but labour costs …

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• 28 July 2023 4:19 pm

  Russia is preparing to use the ruble to settle its agricultural exports

  

  Russian Deputy Prime Minister Victoria Abramchenko said Friday (July 28th) that her country will urge buyers of its agricultural exports to pay in rubles instead of dollars as a way to get around Western sanctions. She stated that the government is preparing a draft decree that would enable buyers to …

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• 28 July 2023 3:03 pm

  The French economy exceeds expectations, recording a growth of 0.5% in Q2

  

  The French economy grew by 0.5% in the second quarter of this year, exceeding expectations, driven by exports while household consumption declined, according to the National Institute of Statistics and Economic Studies. This first estimate of the Institute came higher than the estimated growth forecast of 0.1% for the period …

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• 28 July 2023 1:51 pm

  European stocks are declining, pressured by mixed corporate results and high bond yields

  

  European stocks retreated on Friday from multi-month highs hit during the previous session, as investors digested a mixed batch of corporate earnings reports and bond yields rose after the Bank of Japan adjusted monetary policy. And by 0716 GMT, the pan-European STOXX 600 index was down 0.3%, having closed on …

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• 28 July 2023 12:23 pm

  Gold is heading to record a weekly loss, under pressure from US data and interest rates

  

  On Friday, gold prices recovered slightly from their lowest levels in two weeks, after strong US economic data caused a wave of selling in the previous session, and as the atmosphere dominated by interest rates pushed the yellow metal towards its biggest weekly loss in five weeks. Spot gold rose …

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• 28 July 2023 10:44 am

  Toyota global sales increased by 5.1% to 4.9 million in the first half of 2023

  

  Japanese automaker Toyota Motor said on Friday that its sales increased 5.1 percent in the first half of 2023 compared to the same period last year, thanks to the easing of semiconductor supply restrictions and, in particular, strong demand in Japan. The company sold about 4.9 million vehicles globally in …

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• 28 July 2023 10:00 am

  Oil prices open lower on demand concerns

  

  Oil prices fell in early Asian trading on Friday after concerns about demand offset the impact of strong economic data. Brent crude was down 59 cents, or 0.7 percent, at $83.65 a barrel by 0027 GMT, but was on track for a weekly increase of 5 percent. US West Texas …

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• 28 July 2023 1:08 am

  Cardano 40% higher on the back of active development activity

  

  The price of Cardano has increased over 40% since its $0.22 low on June 10 and is holding above an uptrend line with potential for more gains. The increase in network development activity, which saw ADA surpass Ethereum to take third place, is widely credited for the surge.A breakout with …

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• 27 July 2023 11:43 pm

  Eurozone blue-chip shares touch 15-year high on ECB’s pause hopes

  

  Eurozone blue-chip shares rallied to their highest in more than 15 years on Thursday as investors anticipated the European Central Bank was close to the end of its tightening cycle. The EURO STOXX 50 index was up 2.3%, touching its highest level since December 2007, while the pan-European STOXX 600 …

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• 27 July 2023 10:41 pm

  USD/JPY sharply reacts to strong hint on BoJ’s drop 0.5% cap in 10Y JGB yields

  

  USD/JPY bears jumped in on a Nikkei news article ahead of the Bank of Japan’s meeting on Friday that took USD/JPY down from 141.10 to 139.20 low in a flash. The Nikkei reported, ” The Bank of Japan will discuss tweaking its yield curve control policy at a policy board …

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• 27 July 2023 9:57 pm

  Stronger US dollar forces gold below $1950

  

  The outlook remains negative for Gold despite oversold readings. Gold prices dropped by more than $30 during the US session and remain under pressure amid a stronger US dollar and higher US Treasury yields. Technical factors also weighed on the yellow metal. XAG/USD bottomed at $1,942 before modestly rebounding. The …

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