Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 16 May 2023 2:24 am

  Yellen: Treasury’s borrowing costs had already increased for early June

  

  The US Treasury Department reiterated Monday it expects to be able to pay the US government’s bills only through June 1 without a debt limit increase, increasing pressure on congressional Republicans and the White House to reach a deal in coming days.The news also quotes US Treasury Secretary Janet Yellen …

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• 16 May 2023 1:06 am

  USD/CAD dives amid soaring Canadian Dollar, softer USD

  

  The USD/CAD pair made a U-turn after hitting a daily high of 1.3567 due to overall US Dollar weakness, spurred by a risk-on impulse and higher oil prices. Canadian housing started increasing by 22% in April, with total units rising to 261,600. Data from Canada underpinned the CAD, with Canadian …

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• 15 May 2023 11:39 pm

  Gold defends corrective bounce amid debt ceiling fight

  

  Gold price is struggling to defend the week-start corrective bounce amid mixed sentiment. Anxiety ahead of the top-tier United States data, debt ceiling talks prod XAU/USD buyers. Meanwhile, the US Dollar bears take a breather amid hawkish Federal Reserve talks.Also challenging the XAU/USD’s week-start corrective bounce are the mixed updates …

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• 15 May 2023 10:12 pm

  GBP/USD soars on emerging bullish-engulfing pattern

  

  Disappointing Concern for the US economy is raised by the New York Empire State Manufacturing Index’s sharp decline to -31.3. According to Biden and Brainard, “serious and constructive” discussions are taking place over raising the US debt ceiling.The BoE recently increased rates by 25 basis points to combat inflation; future …

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• 15 May 2023 9:21 pm

  NY Fed: Total household debt rises by 0.9% in Q1

  

  In a report published on Monday, the Federal Reserve Bank of New York said that the total household debt rose by 0.9% in the first quarter to $17.05 trillion.The US Dollar Index showed no immediate reaction to this report and was last seen losing 0.2% on the day at 102.50.Key …

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• 15 May 2023 7:31 pm

  Fed’s Bostic: I would vote to hold rates

  

  Atlanta Federal Reserve President Raphael Bostic said, on Monday, that if he were voting now, he would vote to hold rates in June, but warned that he has to keep a possible rate hike on the table. He also forecasts inflation to be in the high 3s by year-end, and …

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• 15 May 2023 3:50 pm

  Turkish stocks decline with the direction of the presidential elections towards a run-off

  

  Turkish stocks fell on Monday as the presidential election appeared to be headed for a run-off and incumbent President Recep Tayyip Erdogan advanced. The main index of Turkish stocks fell more than six percent at the open, which led to a halt to trading on the stock exchange before it …

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• 15 May 2023 2:19 pm

  Turkish lira recorded its lowest level in two months after the elections

  

  The Turkish lira fell to its lowest level in two months as financial markets began trading in the aftermath of the presidential and parliamentary elections that took place on Sunday, amid expectations that the presidential race is heading to a run-off. The lira fell to 19.70 against the dollar, before …

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• 15 May 2023 12:51 pm

  The rise of European stocks amid investors’ interest in political events and data

  

  European stocks rose on Monday as investors assessed the uncertainty surrounding the US debt ceiling talks and the presidential elections in Turkey and were looking forward to data released this week for clues about the state of the global economy. The European Stoxx 600 index rose 0.4 percent, with personal …

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• 15 May 2023 11:21 am

  Asian stocks dip ahead of Chinese data

  

  Most Asian stock markets fell on Monday as investors braced for a spate of Chinese economic data, as well as monetary policy indications from a crop of Federal Reserve speakers later in the week. China’s Shanghai Composite index was the worst performer on the day, down 1.1% as local industrial, …

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• 15 May 2023 10:17 am

  Oil fell due to the rise in the dollar and concerns about demand

  

  Oil prices fell on Monday, as concerns about fuel demand in the United States and China, the world’s two largest consumers, outweighed optimism about tight supplies due to any production cuts from the OPEC + group and the United States resuming purchases of its reserves. And by 0130 GMT, Brent …

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• 15 May 2023 9:55 am

  Gold is rising as economic risks continue

  

  Gold prices rose on Monday as talks to raise the US debt ceiling stalled and fears of an economic slowdown pushed some traders towards the precious metal, a safe-haven asset. And by 2049 GMT, spot gold rose 0.1 percent to $ 2013.79 an ounce, after falling for three sessions. US …

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• 15 May 2023 5:38 am

  Financial Markets’ Weekly Recap, May 08-12

  

  The dollar remained close to a peak of more than a week on Friday after a slew of data released overnight indicated a slowdown in the US economy, as investors bet the Federal Reserve would halt interest rate increases. The dollar index, which measures the performance of the US currency …

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