Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 9 May 2023 8:43 pm

  Sterling trades back above 1.2600 ahead of BoE’s decision

  

  The British pound drops to around the 1.26 handle ahead of key macroeconomic events for the week.  The Pound Sterling is likely to be impacted by the Bank of England meeting on “Super Thursday”. The US Dollar will look for impetus from the US Consumer Price Index data for April …

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• 9 May 2023 7:36 pm

  US dollar rebounds amid sour market sentiment

  

  US Dollar manages to stay resilient against its major rivals on Tuesday. US Dollar Index clings to modest daily gains following Monday’s rebound. April inflation data from the US could trigger the next big reaction in USD.The US Dollar shook off the selling pressure at the beginning of the week …

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• 9 May 2023 4:55 pm

  Gold is rising as investors await US inflation data

  

  Gold prices rose on Tuesday as investors awaited US inflation data in search of indications of the monetary policy path of the Federal Reserve (US Central Bank) in light of continued economic uncertainty. By 1021 GMT, spot gold rose 0.5 percent to $2,030.43 an ounce, and US gold futures rose …

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• 9 May 2023 2:58 pm

  Sterling is hovering at a one-year high as traders await the BoE’s decision.

  

  The Bank of England is expected to raise interest rates by 25 basis points this week, according to traders. The market is also anticipating significant US inflation numbers on Wednesday, which will give additional insight into the world’s largest economy’s fight against inflation. On Tuesday, sterling fell against the US …

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• 9 May 2023 1:20 pm

  Gold is locked in a narrow range as investors await US inflation data

  

  Gold prices moved in a narrow range on Tuesday ahead of US inflation data, which investors are looking for clues to the Federal Reserve’s policy path. Spot gold remained unchanged at $2,023.41 an ounce, and by 0232 GMT, US gold futures were down 0.2 percent, at $2,030.10. US consumer price …

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• 9 May 2023 12:33 pm

  European stocks declined with the decline in the Swedish SBB stock

  

  European stocks fell on Tuesday, with Sweden’s SBB leading the losers after the company postponed its dividend, while investors remained wary ahead of important US economic data. The pan-European STOXX 600 index was down 0.2% by 0706 GMT, as investors awaited US consumer price data later this week for clues …

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• 9 May 2023 12:00 pm

  Japan stocks jump supported by strong corporate results

  

  Japanese stocks rose on Tuesday, with the Nikkei index recording its highest closing level in 16 months, supported by a rise in steelmakers’ stocks on the back of strong corporate earnings. JFE Holdings jumped 14.5 percent, its biggest gain in 14 years, after Japan’s second-biggest steelmaker expected profits to rise …

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• 9 May 2023 10:57 am

  Dollar is rising and the pound is near its highest level in a year

  

  The dollar rose on Tuesday after a survey showed that credit conditions in the United States were less bleak than expected, while the pound sterling flirted with its highest levels in a year amid expectations that the Bank of England (central) will raise interest rates this week. Currencies were little …

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• 9 May 2023 1:59 am

  Market Drivers – US Session – Mon. 08/05/2023

  

  The start of the week on Wall Street was uneven. Participants in the market are analysing the events of the previous week, including central bank meetings and US labour market data. There were no significant shocks in the Federal Reserve bank survey as worries about banking continue to decrease, bolstering …

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• 9 May 2023 1:39 am

  Sec. Yellen calls CEOs personally to warn on US debt ceiling

  

  US Treasury Secretary Janet Yellen is reaching out to business and financial leaders to explain the “catastrophic” impact a US default on its debt would have on the U.S. and global economies.Treasury secretary is having one-on-one conversations with individual CEOs to warn them about the “dangerous consequences of the current …

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• 8 May 2023 11:42 pm

  Explainer: Why is the Euro at risk?

  

  The Euro is at risk due to a number of unanswered questions, such as what central banks will do next and when interest rates will be cut. PMI surveys have turned sharply lower in China and Europe, and the dollar has fallen out of favour as western central bank policy …

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• 8 May 2023 10:37 pm

  Fed Survey: Banks reported tighter standards and weaker demand for loans

  

  The US central bank released the April 2023 Senior Loan Officer Opinion Survey on Bank Lending Practices, which has become more relevant in the context of concerns about regional US banks. The survey results reflect the first quarter of 2023.According to the report, survey respondents reported, on balance, tighter standards …

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• 8 May 2023 9:16 pm

  Fed’s Goolsbee: Will get critical data on credit conditions today

  

  On Monday, Chicago Federal Reserve Bank President Austan Goolsbee said that the Fed’s Senior Loan Officer Opinion Survey for the first quarter will provide critical information on credit conditions.“We should be extra-attuned to issues in bond market related to debt limit,” Goolsbee added.Regarding the Fed’s policy outlook, Goolsbee reiterated that …

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