Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 15 September 2023 9:27 pm

  Tech share leading Wall Street’s dip

  

  US stocks sank Friday as the major indexes failed early on to build on a Thursday rally and were in danger of giving up the week’s gains.The S&P 500 was down 0.9%, while the Dow Jones Industrial Average retreated by 0.5%. The tech-heavy Nasdaq Composite plunged 1.4%, leading the way …

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• 15 September 2023 8:28 pm

  Holding on $90, WTI to close trading week with gains

  

  WTI crude oil has rebounded to hold $90/bbl, despite a small drop on Friday. Extended production cuts from OPEC member states are putting a tight squeeze on crude markets, sending US crude to ten-month highs. Saudi Arabia and Russia have recently announced an extension of their current oil production cuts, …

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• 15 September 2023 7:50 pm

  Headwinds still face China’s economy despite recovery signals

  

  China’s factory output and retail sales grew at a faster pace in August, but tumbling investment in the crisis-hit property sector threatens to undercut a flurry of support steps that are showing signs of stabilising parts of the wobbly economy. Chinese policymakers face a daunting task in trying to revive …

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• 15 September 2023 6:48 pm

  Greenback hiccuping post key US data

  

  The US Dollar flattens on Friday as investors take profits after a rally on Thursday. The Euro’s lackluster performance after the ECB’s dovish hike has led to traders selling the Euro in the belief the Eurozone economy will crash. Retail Sales data from the US and Producer Price Index numbers …

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• 15 September 2023 6:19 pm

  UoM Consumer Confidence Index declines in September

  

  UoM Consumer Confidence Index declined more than expected in September. In an obvious reaction, the US dollar retreats across the board, DXY hits fresh daily lows under 105.20. Consumer sentiment in the US weakened in August, with the University of Michigan’s (UoM) Consumer Confidence Index declining to 67.7 from 69.5. …

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• 15 September 2023 4:30 pm

  Oil is heading for new weekly gains with tight supply and optimism towards China

  

  Oil is heading for gains for the third week in a row, as the scarcity of supply resulting mainly from Saudi Arabia’s reduction in production coincides with optimism that the Chinese economy is finally beyond the stage of danger. By 1149 GMT, Brent crude rose 37 cents to $94.07 a …

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• 15 September 2023 3:27 pm

  The Russian Central Bank raises interest rates by 100 basis points

  

  The Russian Central Bank raised the interest rate by about 100 basis points to 13% levels, contradicting expectations of its stabilization. According to the decision issued today, Friday, September 15, the bank indicated that inflationary pressures are still high, that the growth of domestic demand has exceeded the capacity to …

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• 15 September 2023 1:41 pm

  Gold rose after Chinese data supported the yuan against the dollar

  

  Gold prices stabilized on Thursday near their lowest levels in three weeks, which they touched in the last session after the release of US inflation data, which reinforced expectations that the Federal Reserve will stop raising interest rates next week. By 0747 GMT, spot gold prices stabilized at $1,905.49 per …

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• 15 September 2023 12:47 pm

  Japan’s Topix closes at 33-year peak and technology stocks rise

  

  Japan’s broader Topix index closed at its highest level in more than 33 years on Friday, supported by Wall Street’s gains overnight, while technology stocks led gains after the strong initial public offering of SoftBank Group Inc’s ARM Holdings. The Topix index rose 0.95 percent to close at 2,428.38 points, …

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• 15 September 2023 10:48 am

  Dollar stabilizes and the yuan rises on the back of strong Chinese data

  

  The dollar stabilized in Asian trading on Friday, retreating slightly from the gains it achieved on Thursday against other major currencies, while the yuan rose following the release of some strong economic data from China. The dollar jumped on Thursday after US retail sales received a boost from a 0.6 …

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• 15 September 2023 9:50 am

  Oil rises to its highest level in 10 months

  

  Oil prices rose to their highest level in 10 months on Friday, after China reduced banks’ cash reserve requirements to boost its economic recovery, and amid expectations that the cycle of raising global interest rates will soon end. By 0027 GMT, Brent crude rose 46 cents, equivalent to 0.5 percent, …

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• 15 September 2023 12:47 am

  

  Market Drivers – US Session, September 14, 2023The EUR/USD pair resumed its downtrend, falling to the 1.0630 area. It posted the lowest daily close in months and remains under pressure. EUR/CHF suffered its worst day in months, dropping from weekly highs at 0.9600 to 0.9530, with a crucial support area …

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• 15 September 2023 12:26 am

  Why is German industry worried about Chinese criticism of EU probe?

  

  China has criticised the European Commission’s probe into its electric vehicle subsidies as being protectionist. Beijing claims that the investigation has harmed business ties between China and the EU. Analysts and Chinese industry executives who contend that the sector’s competitive advantage is not the result of subsidies are worried about …

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