Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 10 July 2023 7:35 pm

  Fed’s Barr: A lot of progress on inflation has been made

  

  Fed Vice Chairman Michael Barr said on Monday that inflation was still too high but acknowledged significant progress had been made. “We are very focused on getting inflation down to target,” Barr said.Barr’s comments do not directly affect the US dollar’s performance against major currencies. At the time of writing, …

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• 10 July 2023 3:09 pm

  Oil eases on China, U.S. data, but OPEC+ cuts limit fall

  

  Monday saw a decline in oil prices following disappointing economic statistics from the two largest users, the United States and China, although losses were contained by anticipated cuts in Saudi Arabian and Russian crude supplies. By 1005 GMT, West Texas Intermediate crude in the United States was down 40 cents, …

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• 10 July 2023 2:07 pm

  The Kremlin: There is nothing new to say about the grain export agreement across the Black Sea

  

  The Kremlin said on Monday that Turkey has the right to establish relations with any country, including Ukraine, but that those relations should not be directed against Russia. Relations between Moscow and Ankara soured last week after Turkey returned five Ukrainian leaders to Kiev in what Russia described as a …

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• 10 July 2023 1:31 pm

  European stocks fell after Chinese data raised fears of deflation

  

  European stocks fell on Monday, after recording big weekly losses, as below-expected inflation data in China stoked fears of weak demand, while investors awaited US inflation data as well as corporate earnings due later this week. The pan-European STOXX 600 index fell 0.3 percent in early trading, with China-linked miners …

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• 10 July 2023 11:15 am

  Dollar is making up for its losses and Yuan is falling after weak inflation data in China

  

  The dollar recovered its losses on Monday, after falling after data showed that jobs in the United States recorded the lowest growth in two and a half years, while disappointing inflation figures in China weighed on the yuan and the Australian and New Zealand dollars. Figures released on Friday showed …

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• 10 July 2023 10:26 am

  Oil is falling before the announcement of US and Chinese data and OPEC + cuts support the market

  

  Oil prices fell in early Asian trade on Monday as investors were cautious ahead of new economic data from the United States and China this week, while expected cuts in crude production from Saudi Arabia and Russia supported the market. By 0107 GMT, Brent crude futures were down 22 cents, …

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• 10 July 2023 9:32 am

  Gold rises after US jobs data

  

  Gold prices rose in early Asian trade on Monday after last week’s US jobs data overshadowed the strength of the labor market, prompting investors to be more cautious about the path of US interest rate hikes. By 0104 GMT, spot gold rose 0.1 percent to $1925.49 an ounce, and US …

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• 10 July 2023 6:07 am

  Financial Markets’ Weekly Recap, July 3-6

  

  Job growth in the United States slowed more than expected in June after a sharp increase in the previous month, but the labor market shortage persisted, with the unemployment rate falling from a seven-month high and relatively large wage increases continuing. On Friday, the Labor Department said in its well-watched …

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• 8 July 2023 12:46 am

  Economists derive mixed indicators from Canada’ jobs data

  

  Data released on Friday showed that Canadian employment rose by 60,000 in June, above the 20,000 expected. Analysts point out that employment growth was brisk in June. However, mt nalysts warn that rapid population growth and a rise in participation meant that the unemployment rate rose two ticks to 5.4%, …

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• 7 July 2023 11:38 pm

  US Is Buying M6 Barrels of Crude Oil for Emergency Reserve

  

  President Joe Biden’s administration announced Friday it’s purchasing 6 million more barrels of crude oil for the Strategic Petroleum Reserve as it continues to slowly refill the emergency stockpile. The purchases, scheduled for October and November, come as the nation’s oil reserve is at its lowest point in 40 years …

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• 7 July 2023 10:42 pm

  Gold seen crawling above $1,925 as NFP misses estimates

  

  Gold price has moved higher near $1,915.00 ahead of US NFP data. After the NFP data release that missed expectations and indicated the addition of 309k jobs in the US during June, gold touched $1,925 per ounce. S&P500 futures are consistently extending losses as investors are anxious ahead of the …

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• 7 July 2023 9:37 pm

  EUR/USD rises on weaker US dollar

  

  The US dollar weakens across the board after the US official jobs report. The EUR/USD pair gains momentum after breaking above 1.0930. The pair is heading for its highest weekly close since May.The EUR/USD pair gained momentum amid a weaker US Dollar following the release of US employment data. After …

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• 7 July 2023 8:16 pm

  Fed’s Goolsbee: It is clear job market is strong but cooling

  

  In an interview with CNBC on Friday, Chicago Federal Reserve Bank President Austan Goolsbee said that they don’t need a recession to eliminate inflation concerns, per Reuters.These comments were not able to help the US Dollar find demand. As of writing, the US Dollar Index was down 0.72% on the …

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