Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 17 May 2023 11:09 pm

  After sliding $100, could gold touch fresh highs?

  

  At the time of writing, the price of gold ranges between $1983.20 to $1983.65 per ounce. According to analysts who are long active gold at $1994/oz, the market selloff in gold is almost over, and prices will next reach new all-time highs as they anticipate imminent selling exhaustion in precious …

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• 17 May 2023 10:07 pm

  WTI soars 3% on optimistic IEA forecast amid debt ceiling talks

  

  In the second half of 2023, the International Energy Agency forecasts a 2 million bpd supply deficit. The rise in oil prices is a result of positive developments in the US debt ceiling negotiations. Due to a slowdown in China’s economic growth, US crude oil prices are rising despite rising …

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• 17 May 2023 8:55 pm

  Natural Gas Demand Reportedly Booming

  

  Natural gas demand has been an unexpected beneficiary of the green revolution, leading to a boom in demand for natural gas as a multi-year trend. Companies that supply major parts necessary for the natural gas business, like Chart Industries, report that business is booming and that booming business is very …

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• 17 May 2023 7:43 pm

  Bitcoin slides below $27K as debt ceiling talks eyed

  

  Treasury Secretary Janet Yellen warned the US could breach its debt limit by June 1, potentially setting off a recession in the event of default. Yellen also and said a default “could lead to a recession,” so several analysts believe a resolution to the debt ceiling issue could potentially buoy …

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• 17 May 2023 6:57 pm

  Wall Street’s big tech is back on Wednesday

  

  On Wednesday, Wall Street’s Big Tech will return.As investors continue to employ the strategies that have been successful for them over the previous ten years, the tech sector continues to be the primary driver of the major US stock indices. Investors are still primarily focused on discussions regarding lifting the …

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• 17 May 2023 3:58 pm

  API: Oil stocks increased by about 3.69 million barrels

  

  Data from the American Petroleum Institute, released in its weekly report on Tuesday, revealed that US oil inventories increased by about 3.69 million barrels in the week ending May 12th. Also, the data also showed that gasoline stocks fell by about 2.46 million barrels last week. Also, distillate inventories decreased …

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• 17 May 2023 2:52 pm

  The Japanese economy grew 1.6% year on year in the first quarter

  

  Government data showed that the Japanese economy grew by 1.6% on an annual basis in the first quarter of the year, as strong private consumption and an unexpected increase in capital spending offset the decline in external demand. The GDP figures for the first quarter far exceeded economists’ median estimate …

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• 17 May 2023 1:34 pm

  ECB looks for new top supervisor to succeed Enria

  

  The European Central Bank said on Wednesday that it is seeking for a new top bank supervisor to replace Andrea Enria, whose tenure expires at the end of the year. Candidates for the position of chair of the ECB’s Supervisory Board, the eurozone’s most senior banking watchdog, must apply by …

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• 17 May 2023 12:34 pm

  Japan’s Nikkei closed above 30,000 points for the first time in 20 months

  

  On Wednesday, Japan’s Nikkei index closed above 30,000 points for the first time since September 2021, supported by a weaker yen and a strong domestic earnings season. The Nikkei index ended Wednesday’s trading up 0.84 percent at 30,093.59 points, after hitting a high of 30,115.32 points in the afternoon session. …

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• 17 May 2023 11:48 am

  European stock futures edge higher

  

  European stock markets are expected to open in a cautious manner Wednesday amid U.S. debt ceiling uncertainty and ahead of the release of the final eurozone inflation figures for April. At 06:00 GMT, the DAX futures contract in Germany traded 0.1% higher, CAC 40 futures in France climbed 0.1% and …

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• 17 May 2023 10:45 am

  Stability of gold amid concern about the negotiations to raise the US debt ceiling

  

  Gold prices were little changed on Wednesday, as investors worried about the protracted negotiations over raising the US debt ceiling, and the rise in the dollar also helped keep prices under control. Spot gold prices rose 0.1 percent to $1991.35 an ounce by 0455 GMT. US gold futures witnessed little …

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• 17 May 2023 10:00 am

  Oil is falling on demand concerns after a sudden increase in US inventories

  

  Oil prices fell for a second day on Wednesday after a surprise rise in US crude inventories raised concerns about demand in the wake of weaker-than-expected economic data from the United States and China, the world’s two largest oil consumers. Brent crude futures fell 29 cents, or 0.4 percent, to …

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• 17 May 2023 5:17 am

  Market Drivers – US Session – 16/05/2023

  

  Gold was subject to a sharp drop below $2,000, remaining under pressure and potentially testing the crucial support level of $1,970. Silver also lost ground, falling to $23.60. Crude oil prices retraced some of Monday’s gains, with WTI ending around $70.55. Cryptocurrencies also experienced losses; BTC/USD falling below $27,000 by …

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