Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 25 July 2023 2:02 am

  Canadian dollar benefits from rising oil prices

  

  The USD/CAD pair dropped to 1.3170 as the bulls failed to reconquer the 20-day SMA. Global supply concerns are boosting Oil prices, favouring the Canadian dollar.The USD continued to recover following mixed PMIs. On Monday, the USD/CAD declined towards 1.3170 despite the USD trading strong against most of its rivals. …

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• 25 July 2023 1:49 am

  US stocks surge as investors eye earnings, FOMC decision

  

  Dow Jones Industrial Average led Wall Street higher on Monday, notching its longest winning streak in six years. Investors are broadening the market’s breadth, with people starting to take profits in tech and invest in other parts of the markets. The tech-heavy Nasdaq Composite Index has rallied 34.3% this year, …

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• 25 July 2023 12:31 am

  US bond yields extend gains on economic data

  

  The 10-year US Treasury yields ended Monday’s trading in a bullish direction, based on the rising US dollar, which is benefiting from rising interest rate expectations at the Fed’s policy meeting this week.US Treasury yields for ten years have surged to 3.875%, compared to the previous daily close of 3.841%. …

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• 24 July 2023 11:10 pm

  GBP/USD slides for seventh day on weak UK data

  

  The GBP/USD has slid for the seventh day. The Sterling has been impacted by weak UK PMIs and the overall gloomy UK economic future perspective. The UK PMI shows the largest month-on-month drop in 11 months, signaling a potential weakening of post-pandemic spending. The Sterling is even seen as heading …

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• 24 July 2023 9:59 pm

  Australian dollar benefits from positive market sentiment

  

  The Australian dollar has risen against the US dollar on Monday due to positive market sentiment, supporting commodity currencies like the Aussie more than safe-havens like the US dollar. S&P Global’s data shows the US Composite PMI is higher and in expansionary territory compared to Australian counterparts, reflecting the positive …

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• 24 July 2023 8:57 pm

  US Dollar’s uptrend extended ahead of Fed’s policy decision

  

  Above 101.00, the US Dollar Index maintains modest daily increases. The private sector’s economic activity continued to grow in July, according to US figures. Following a week in which it outperformed its key competitors, the American currency opened the new trading week on a positive note. The US Dollar Index, …

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• 24 July 2023 7:42 pm

  WTI surges before policy decisions by key central banks

  

  WTI increased by 2% to begin the week over $78.00 and the 200-day SMA. Oil prices are supported by global supply constraints and Chinese economic stimulus. Following PMI surveys, all eyes are on the main central bank’s choices. The American crude is trading at $78.929 per barrel at the time …

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• 24 July 2023 3:04 pm

  Business activity contracted in Germany in July

  

  A preliminary survey published on Monday showed business activity contracted in Germany in July, raising the possibility of a recession in the second half of the year. The Hamburg Mercantile Bank’s composite purchasing managers’ index released by Standard & Poor’s Global fell to 48.3 in July from 50.6 in June, …

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• 24 July 2023 1:34 pm

  European stocks fell with Spanish stocks falling after inconclusive elections

  

  Spanish stocks were the losers among European stock exchanges on Monday after the country’s general elections ended without a clear winner, indicating a political deadlock and causing concern among investors. The Spanish stock index fell 1.1 percent, its lowest level in about a week, after the results of the elections …

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• 24 July 2023 12:41 pm

  Japan’s Nikkei closed higher as auto stocks rose

  

  The Japanese Nikkei index closed higher on Monday for the first time in three sessions, with the rise of stocks of auto makers, taking advantage of the decline in the yen, at a time when investors reduced their bets that the central bank of the country will change its monetary …

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• 24 July 2023 11:27 am

  Yen fell as traders await monetary policy decisions

  

  On Monday, the dollar and the euro recorded a strong start to a week of central bank meetings, while the yen suffered amid investor expectations that the Bank of Japan would not raise interest rates, contrary to what policy makers in Europe and the United States plan. The Federal Reserve …

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• 24 July 2023 10:28 am

  Putin: The agreement to transport grain across the Black Sea has become meaningless

  

  Russian President Vladimir Putin wrote in an article published early Monday that Russia withdrew from the Black Sea Grain Transport Agreement, which guaranteed the safe export of Ukrainian grain, because the agreement had lost its meaning. “The continuation of the grain deal … has lost its meaning,” Putin said in …

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• 24 July 2023 9:16 am

  Oil is falling ahead of decisions on raising interest rates in the US and European Central Banks

  

  Oil prices fell on Monday as investors awaited further rate hikes from the US and European central banks, while tight supply and hopes for Chinese stimulus kept Brent crude at $80 a barrel. By 0045 GMT, Brent crude futures were down 41 cents, or 0.5 percent, at $80.66 a barrel. …

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