Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 29 June 2023 8:21 pm

  GBP/USD drops on US economic optimism after positive GDP

  

  The GBP/USD pair experienced a sharp drop in the North American session following robust US data, highlighting the case for additional Federal Reserve tightening and higher Treasury bond yields. The upward revision of US GDP and a drop in Initial Jobless Claims suggest a bright US economic picture, triggering the …

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• 29 June 2023 7:24 pm

  US Core PCE expected to make limited progress

  

  The Fed’s preferred inflation gauge, the Core Personal Consumption Expenditure (PCE), will be released by the US Bureau of Economic Analysis (BEA) on Friday, June 30 and as markets get closer to the release time, here are the forecasts of economists and researchers of seven major banks.Core PCE is expected …

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• 29 June 2023 5:24 pm

  German inflation rose more than expected in June

  

  German inflation rose more-than-expected in June, snapping an extended decline since the start of the year. Preliminary data from the Federal Statistics Office on Thursday showed consumer prices, which are harmonized to make it easier to compare them with other countries in the European Union, rose 6.8 percent year-on-year in …

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• 29 June 2023 4:09 pm

  Japan and South Korea agree to revive the currency exchange agreement

  

  Japan and South Korea agreed on Thursday to revive a $10 billion currency swap pact, building on an improvement in two-way ties to bolster a regional financial safety net amid heightened geopolitical risks. The swap agreement was first agreed in 2001 as a tool to help the two countries combat …

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• 29 June 2023 1:47 pm

  Dollar is near its highest level in 7 months against Yen

  

  The dollar hovered near its highest level in seven months against the yen, after the statements of the heads of the US and Japanese central banks confirmed the significant difference in the path of monetary policy for each of them, during a conference hosted by the European Central Bank last …

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• 29 June 2023 1:07 pm

  European stocks are rising due to strong earnings

  

  European stocks rose on Thursday, supported by the rise of the Swedish clothing stock, H&M, after the company achieved stronger-than-expected profits, but statements related to tightening monetary policy from a number of senior central bank officials curbed risk appetite. And by 0704 GMT, the European Stoxx 600 index rose 0.1 …

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• 29 June 2023 9:46 am

  Gold is near its lowest level in about 4 months

  

  Gold prices remained near their lowest levels in nearly four months on Thursday after Federal Reserve Chairman Jerome Powell left the door open to raising interest rates again with the aim of curbing inflation. Spot gold rose 0.25 percent to $1,912.19 an ounce by 0123 GMT. On Wednesday, the precious …

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• 28 June 2023 6:01 pm

  ECB Forum: Powell predicts further interest-rate rises if the labour market stays tight

  

  Jerome Powell, Chairman of the Federal Reserve System (Fed), and Christine Lagarde, President of the European Central Bank (ECB), are presenting at the ECB Forum on Central Banking in 2023. Along with Powell and Lagarde, Bank of England Governor (BoE) Andrew Bailey and Bank of Japan Governor (BoJ) Kazuo Ueda …

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• 28 June 2023 1:04 am

  Why has FTX Token rallied 15%?

  

  FTX exchange reignites hope for creditors, with FTT token jumping in tandem. FTX Token (FTT) is up 15%, so, the good news is that FTX token (FTT), the native digital currency of the bankrupt FTX Derivatives Exchange, has recorded very impressive daily growth today. The FTT token soared by 15% …

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• 27 June 2023 11:41 pm

  Dollar slides after data burst, euro rises on ECB comments

  

  The dollar index retreated on Tuesday after a host of economic data releases indicated the U.S. economy remains resilient and may not be close to a recession, while the euro strengthened after comments from European Central Bank (ECB) President Christine Lagarde.The greenback retreated further after data showed new orders for …

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• 27 June 2023 10:48 pm

  AUD/USD dragged lower on positive US economic data

  

  The AUD/USD pair declines from weekly highs amidst strong US economic performance. Upcoming Australian CPI data and Fed Chair Powell’s speech are awaited by AUD/USD traders.Investors bet on softened CPI, weighing the AUD further. The AUD/USD pair is still in positive territory but retreats from weekly highs of 0.6720, falls …

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• 27 June 2023 8:05 pm

  Gold declines on surprising positive US data

  

  Gold has declined due to positive US data, including durable goods orders and consumer confidence data. The gold price has retreated after hitting a daily high of $1930.66 due to overall upbeat data from the US, demonstrating the economy’s resilience despite higher borrowing costs set by the US Fed. Gold …

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• 27 June 2023 2:48 pm

  European stocks rise, supported by gains in the mining sector

  

  European stocks rose on Tuesday, supported by gains in the mining sector after hopes stemming from an upbeat outlook for the Chinese economy sent metals prices higher, while JD Sports shares fell even after the British sportswear retailer maintained its earnings forecast. The pan-European Stoxx 600 index rose 0.5 percent …

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