Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 29 September 2023 12:50 pm

  Oil is heading for a 2% weekly gain, supported by demand during the Chinese holiday

  

  Oil prices are heading to record a weekly gain of about two percent after achieving some increase on Friday, as the impact of strong demand during a holiday in China and continued scarcity in the United States overshadowed expectations of possible increases in supplies from Saudi Arabia. Brent crude futures …

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• 29 September 2023 11:55 am

  The Nikkei index records its worst quarterly performance in a year

  

  The Japanese Nikkei index ended the last trading session of a turbulent week with a slight decline on Friday, and oscillated between rise and fall during the session, thus recording the worst quarterly performance since mid-2022. The selling of shipping company shares after the right to distribute cash dividends expired, …

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• 29 September 2023 11:02 am

  Japan’s unemployment rate stabilizes at 2.7% in August

  

  Government data showed on Friday that Japan’s unemployment rate held steady at 2.7 percent in August compared with the previous month. The seasonally adjusted unemployment rate compares with the average forecast of 2.6 percent by economists in a Reuters poll.

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• 29 September 2023 2:06 am

  Market Drivers – US Session, September 28

  

  During the Asian session, Japan will release critical economic reports, including the September Tokyo Consumer Price Index, August Unemployment Rate, Industrial Production, Retail Sales, and Housing Starts. Australia will release Private Sector Credit data, while Germany will release Retail Sales and the Unemployment Rate. The Eurozone CPI will be the …

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• 29 September 2023 1:57 am

  GBP/USD made a modest comeback

  

  On Thursday, the GBP/USD made a modest comeback, recovering to the 1.2200 mark. Analysts expect the GBP to depreciate longer term, with many institutions anticipating a reversal to the main handle of 1.2000.The UK GDP results, which are scheduled to be released on Friday, are anticipated to remain constant at …

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• 29 September 2023 1:08 am

  EUR/USD advances ahead of EU CPI, US PCE inflation

  

  On Thursday, the EUR/USD pair surged as the Dollar Index decreased. As rate rise cycles come to an end, analysts anticipate greater Euro depreciation. With important US and EU inflation numbers on Friday, the trading week will come to an end.On Thursday, the EUR/USD reached an intraday high of 1.0580 …

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• 28 September 2023 11:57 pm

  CAD expects USD to decline even further

  

  The US currency, which has little velocity, and the price of crude oil are closely tracked by the Canadian dollar. The USD/CAD pair is essentially flat for the day on Thursday, falling 0.2% at its low point, and it appears that consolidation is imminent near 1.3500. The final figures for …

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• 28 September 2023 10:38 pm

  US oil retreats from a 12-month peak on profit taking, hawkish Fed

  

  Despite encouraging US economic data, and at the time of writing, WTI crude has dropped 2.17% to $90.77 from a 12-month high of $94.99. Despite slowing inflation, the US economy grew by 2.1% in the second quarter and is projected to rise by 4.9% in the third. However, as Republicans …

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• 28 September 2023 8:40 pm

  Wall Street ticks higher as investors digest US GDP data

  

  US stocks rose on Thursday, looking to recover some losses after the Fed’s higher for longer stance on interest rates drove markets lower over the past week. The S&P 500 rose about 0.6%, while the Dow Jones popped about 0.5%. The tech-heavy Nasdaq Composite led gains, adding 0.8%. A fresh …

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• 28 September 2023 7:51 pm

  Gold extends losses as Fed policymakers back more rate hikes

  

  Gold prices are experiencing a selloff as Fed policymakers reiterate their hawkish stance on interest rate outlook. The US economy’s strength due to a tight labor market and strong consumer spending supports the Fed’s hawkish stance. The precious metal is trading at $1863 per ounce at the time of writing.The …

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• 28 September 2023 4:14 pm

  The US economy grew 2.1% in Q2

  

  The final reading of America’s gross domestic product revealed that the economy grew by about 2.1%, which is the same levels as the second reading. The US economy grew by about 2.2% in the first quarter of this year and by 6.2% in the second quarter of 2022. The data …

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• 28 September 2023 3:15 pm

  Gold is trading at a 6-month low

  

  Gold prices traded at their lowest level in 6 months during Thursday’s session, recording levels below $1,900 per ounce. Gold’s losses coincided with a rise in the dollar and the yield on US Treasury bonds. The dollar recorded its highest level in 10 months against a basket of major currencies …

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• 28 September 2023 1:46 pm

  European stocks open higher supported by a rise in energy company stocks

  

  European stocks rose slightly on Thursday, supported by gains in energy stocks as oil prices rose while investors awaited inflation data from Germany, the euro zone’s largest economy. The European STOXX 600 index rose 0.1 percent by 0705 GMT, after five consecutive sessions of losses, and the German DAX index …

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