Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 3 May 2023 10:02 pm

  Breaking: Fed hikes policy rate by 25 bps to 5-5.25% as expected

  

  The US Federal Reserve (Fed) announced on Wednesday that it raised the policy rate, federal funds rate, by 25 basis points to the range of 5-5.25% following the May policy meeting. This decision came in line with the market expectation. As anticipated, the Fed increased its policy rate by 25 …

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• 3 May 2023 9:32 pm

  EUR/USD rebounds ahead of Fed, ECB policy decisions

  

  EUR/USD rebounds after hitting weekly low, ahead of Fed, ECB policy decisionsThe EUR/USD pair rebounds after hitting a weekly low of 1.0942 on Tuesday, as traders brace for the Federal Reserve and the European Central Bank (ECB) monetary policy decisions today and on May 4. The US ADP Employment report …

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• 3 May 2023 8:45 pm

  USD/JPY retreats on uncertainty ahead of FOMC decision

  

  Private hiring in the US increased more than expected, and the USD/JPY sawsawed before slipping. Despite a moderate hiring pace in April, the ISM Non-Manufacturing PMI rises. Traders pay close attention to Powell’s news conference and the US Federal Reserve decision.In the midst of a mixed market climate caused by …

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• 3 May 2023 7:33 pm

  Gold expected to prove resilient to rate hikes

  

  Ahead of the US Federal Reserve’s interest rate decision, the price of gold surpassed the $2,000 level. Now, economists and analysts are concentrating on how the policy announcement might affect the precious metal, which is currently trading at $2025.75 per ounce. The Fed will continue raising rates after the one …

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• 3 May 2023 5:36 pm

  U.S. private payrolls beat expectations in April – ADP

  

  U.S. private employers boosted hiring in April, but there are signs that the labor market is slowing amid higher interest rates. Private payrolls increased by 296,000 jobs last month, the ADP National Employment report showed on Wednesday. Data for March was revised lower to show 142,000 jobs added instead of …

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• 3 May 2023 3:23 pm

  Wall St poised for higher open ahead of Fed meeting outcome

  

  Following a selloff in the previous session, Wall Street’s main indexes were set to open higher on Wednesday, with investors anticipating more economic data ahead of the outcome of a Federal Reserve policy meeting later in the day. Major U.S. stock indexes fell more than 1% on Tuesday, as regional …

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• 3 May 2023 2:18 pm

  Turkish inflation slows to 44% ahead of landmark election

  

  Turkish annual inflation slowed to 43.68% in April, official data showed on Wednesday, easing ahead of elections that polls show President Tayyip Erdogan risks losing largely due to a cost-of-living crisis. Unorthodox rate cuts sought by Erdogan sparked a currency crisis in late 2021, sending inflation to a 24-year peak …

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• 3 May 2023 12:38 pm

  European stocks edge higher; banking sector leads ahead of Fed

  

  European stock markets rose on Wednesday, as generally favourable reports from the banking sector bolstered confidence ahead of the critical Federal Reserve policy meeting. At 07:55 GMT, the DAX index in Germany was 0.5% higher, the FTSE 100 in the United Kingdom was 0.5% higher, and the CAC 40 in …

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• 3 May 2023 10:30 am

  Gold is hovering above $2,000 ahead of the Fed’s rate decision

  

  Gold prices hovered above the $2,000 mark on Wednesday, as investors await the Federal Reserve’s decision on interest rates due later on Wednesday. Gold settled in spot transactions at $ 2016.29 an ounce by 0140 GMT, after rising by more than one percent in the previous session. US gold futures …

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• 3 May 2023 9:59 am

  Dollar is under pressure after the US jobs data

  

  The dollar fell on Wednesday after data showed a decline in new jobs in the United States, while all eyes were on the Federal Reserve’s decision later on Wednesday regarding interest rates. Data on Tuesday showed new jobs fell in the United States for the third month in a row …

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• 3 May 2023 9:37 am

  Oil continues to decline

  

  Oil prices continued their decline on Wednesday, after falling nearly five percent in the previous session to a five-week low, while investors await more rate hikes this week. Brent crude futures fell 13 cents, or 0.2 percent, to $75.19 a barrel by 0015 GMT, while West Texas Intermediate crude fell …

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• 3 May 2023 3:54 am

  Market Drivers – US Session 02/05/2023

  

  The decline in US yields, on Tuesday, boosted gold, which jumped toward $2,020 posting the highest daily close in three weeks. Silver climbed from $24.60 to $25.35. Cryptocurrencies soared, with BTC/USD rising 3.50% to $28,700.Following a sharp drop in equity prices on Wall Street and significant swings in the FX …

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• 3 May 2023 3:12 am

  What assets could a debt ceiling fight impact?

  

  The US debt ceiling fight could impact most financial assets. For example, Bitcoin could react to this fight in one way or another. Some analysts believe raising the debt ceiling would prompt the Fed to print more money, thus boosting capital inflows into “risky” assets like Bitcoin. Top US Senate …

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