Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 19 September 2023 2:01 am

  Market Drivers – US Session, September 18

  

  The US Dollar modestly declined but remained above 105.00 on a calm week start. It marked the first daily loss after nine consecutive days of gains. This correction has taken place during quiet trading circumstances as markets await key central bank meetings. On Wall Street, stocks opened the week with …

  Read More »
• 19 September 2023 1:45 am

  The EUR/GBP higher amid wavering Sterling

  

  to kick off the trading week, the EUR/GBP pair is decisively climbing over the 0.8600 handle and extending upwards as the Bank of England (BoE) looms over the horizon.Sterling bulls hope to survive this week’s UK inflation data before BoE rate call. The Bank of England is broadly expected to …

  Read More »
• 19 September 2023 1:33 am

  Wall Street flat ahead of looming FOMC decision

  

  Wall Street closed with little change on Monday as investors await the US Fed’s decision to leave key interest rates unchanged on Wednesday, as expected. The three major US stock indexes ended a choppy session with nominal gains, as investors showed little conviction heading into the Fed’s two-day monetary policy …

  Read More »
• 18 September 2023 11:25 pm

  GBP/JPY struggles ahead of BoE rate decision

  

  Currently suffering, the GBP/JPY pair is trading close to the day’s low of 182.80. The UK’s August CPI, which is anticipating a 0.7% increase over the 0.4% fall from the previous month, will be revealed early on Tuesday. On Thursday, the BoE is anticipated to increase the benchmark interest rate …

  Read More »
• 18 September 2023 11:08 pm

  Gold price maintains recent gains ahead of FOMC meeting

  

  The Gold Index (XAU/USD), which is up by 0.40%, has soared to the $1,930s territories. In anticipation of this week’s central bank decisions, markets are still cautious. The metal’s potential is constrained by still-high US yields.On Monday, the current price of gold is remaining above the convergence of the 20 …

  Read More »
• 18 September 2023 9:42 pm

  Could Fed leave interest rate unchanged this week?

  

  The US central bank is expected to skip an interest rate hike at the end of its two-day meeting later this week, but consumers may not feel any relief. The central bank has already raised interest rates 11 times since last year, the fastest pace of tightening since the early …

  Read More »
• 18 September 2023 8:47 pm

  What do Saudi Energy Minister’s statements mean for oil price outlook?

  

  While speaking before the World Petroleum Congress in Canada, Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman noted that Saudi Arabia is targeting less volatility in energy markets rather than targeting prices. Crude oil prices continue to edge higher following these statements and the barrel of West Texas Intermediate was …

  Read More »
• 18 September 2023 7:41 pm

  Canada CPI could indicate another jump in inflation

  

  Statistics Canada is set to release its August Consumer Price Index (CPI) data on September 19, with economists and researchers of five major banks forecasting the data. Headline inflation is expected to be at 3.8% year-on-year, the highest since April and further above the 2% target. On a monthly basis, …

  Read More »
• 18 September 2023 4:02 pm

  Russia and China will build an oil shipping complex worth $686 million

  

  The Russian Congress Fund said on Monday that Russia’s United Oil and Gas Chemical Company and China’s Shanyuan Industrial Development Company have agreed to pump joint investments worth five billion yuan ($686 million) to build an oil shipping complex in Russia’s far east. The complex will facilitate the export of …

  Read More »
• 18 September 2023 2:06 pm

  European stocks decline with anticipation of the results of central bank meetings

  

  European stocks opened slightly lower on Monday after sharp gains last week, as investors awaited a week full of central bank meetings in Norway, Sweden, Switzerland, Britain and the United States to make decisions on interest rates. The European STOXX 600 index fell 0.2 percent by 0705 GMT due to …

  Read More »
• 18 September 2023 12:29 pm

  Japanese yen steals the spotlight in a week full of central bank meetings

  

  The dollar moved slightly in Asian trading on Monday, amid a rise in the pound sterling and a decline in the yen after a Japanese holiday and anticipation of a group of upcoming central bank meetings led to a state of stagnation in the markets. The Bank of Japan’s monetary …

  Read More »
• 18 September 2023 12:01 pm

  Oil rises due to supply concerns and demand recovery in China

  

  Oil prices rose on Monday, supported by expectations of a widening supply deficit in the fourth quarter of the year after Saudi Arabia and Russia extended production cuts, in addition to optimism about the recovery of demand in China, the largest global importer of crude. By 0027 GMT, Brent crude …

  Read More »
• 18 September 2023 11:29 am

  Gold stabilizes before a possible halt to US interest rate hikes

  

  Gold prices stabilized on Monday as investors continued to take into account the Federal Reserve’s possible halt to raising interest rates at its monetary policy meeting this week, with a focus on the US central bank’s interest expectations. By 0056 GMT, gold prices in spot transactions settled at $1,924.29 per …

  Read More »