Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 3 May 2023 12:57 am

  Gold approaches $2,020 on weaker US dollar, retreating T-yields

  

  Gold unusually surged on Tuesday, ahead of the Fed’s interest rate release, amid expectations that the US central bank will raise the basic interest rate by 25 points, a rise that came due to the downside pressures on the US dollar.The decline in US yields, on Tuesday, boosted gold, which …

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• 2 May 2023 11:50 pm

  FOMC Decision Preview: Fed’s Surprises Still Probable

  

  In order to stop the tightening cycle, the Fed is predicted to raise rates by 25 basis points. In an unexpected decision, the Reserve Bank of Australia unexpectedly increased the cash rate. Tepid data raises the possibility of a recession as the US dollar enters the event in a weak …

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• 2 May 2023 10:43 pm

  Bluesky invites now hot commodity on higher demand

  

  Bluesky, the Jack Dorsey-backed Twitter alternative, has seen over 375,000 worldwide installs on iOS as of April 26, 2023, and has been ranking highly on Apple and Google’s app stores’ top charts by downloads. Excitement for Bluesky has also been climbing in recent weeks, with the highest level of daily …

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• 2 May 2023 9:43 pm

  Banking selloff drags US stocks lower ahead of FOMC decision

  

  US equities fell on Tuesday as the Federal Reserve started its two-day meeting as the effects of First Republic Bank’s (FRC) failure continued to weigh on bank stocks.During lunchtime trading, the Dow Jones Industrial Average dropped more than 400 points, or 1.4%, while the S&P 500 sank 1.48%. The heavily …

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• 2 May 2023 7:52 pm

  Sterling drops after US bank rescue assures Fed’s rate hike

  

  Fed will almost definitely raise interest rates on Wednesday as the value of the pound against the US dollar falls as a result of the US bank rescue. Bearish two-bar reversal pattern suggests short-term downside pressure for GBP/USD which is trading at 1.2460 at the time of typing.Tuesday’s European session …

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• 2 May 2023 6:31 pm

  JOLTS Job Openings decline below expectations in March

  

  JOLTS Job Openings in the US continued to decline in March. US Dollar Index holds above 102.00 in the American session.The data published by the US Bureau of Labor Statistics (BLS) revealed on Tuesday that the number of job openings on the last business day of March stood at 9.59 …

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• 2 May 2023 4:47 pm

  Limited movements in European stocks ahead of Fed’s rate decision

  

  European stocks moved in a limited range on Tuesday as investors returned from the Labor Day holiday on Monday ahead of decisions by the Federal Reserve and the European Central Bank to raise interest rates later this week. The pan-European Stoxx 600 index rose 0.1% by 0715 GMT, with banks …

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• 2 May 2023 3:23 pm

  Pfizer beats profit estimates as new drugs offset COVID products slump

  

  Pfizer Inc surpassed analysts’ expectations for first-quarter earnings on Tuesday, thanks to robust demand for recently acquired drugs and pneumococcal vaccinations, which helped offset the impact of falling sales of its COVID-19 medications. The pharmaceutical company is under pressure to spend the windfall profits from strong demand for its COVID …

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• 2 May 2023 2:37 pm

  Euro zone inflation edges up to 7.0% in April

  

  Headline consumer prices in the eurozone rose somewhat more than expected in April, but underlying costs fell unexpectedly, providing regional rate-setters with a mixed picture of inflation as they prepare to announce their next rate decision this week. Following a renewed rise in energy prices, the currency’s area consumer price …

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• 2 May 2023 1:16 pm

  Oil is falling on fears of weak demand in China

  

  Oil prices fell in Asian trading on Tuesday, extending losses incurred in the previous session, as weak economic data from China and expectations of a US interest rate hike cast a shadow over the market. Brent crude fell 24 cents, or 0.3 percent, to $79.07 a barrel by 0615 GMT, …

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• 2 May 2023 12:11 pm

  Most Japanese stocks fell on concerns about the banking system

  

  Most Japanese stocks fell on Tuesday, as the country’s financial sector shares were affected by the tension surrounding the US banking system, while shares of export companies got a boost from the weaker yen. Brokerage firm Nomura Holdings fell 1.98 percent, hitting a new low for the current year. Banking …

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• 2 May 2023 11:09 am

  Gold prices stable amid caution ahead of Fed meeting

  

  Gold prices stabilized on Tuesday, as traders cautiously await new signals from major central banks regarding their monetary policy plans, especially the US Federal Reserve. There was little change in gold in spot transactions, to record $1983.29 an ounce by 0528 GMT. US gold futures fell 0.1 percent to $1,991. …

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• 2 May 2023 10:27 am

  Aussie rallies on surprise rate hike, Asia FX flat as Fed approaches

  

  Most Asian currencies changed little on Tuesday as markets braced for the Federal Reserve’s widely anticipated interest rate rise this week, but the Australian dollar jumped on an unexpected rate hike by the Reserve Bank. The Australian currency rose 1% when the Reserve Bank of Australia raised its cash target …

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