Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 5 July 2023 1:36 pm

  UK business momentum slows in June despite falling inflation -PMI

  

  The private sector in the United Kingdom slowed dramatically last month, despite reduced inflation, as increased Bank of England interest rates weighed on demand, according to a poll released on Wednesday. The S&P Global/CIPS services Purchasing Managers’ Index (PMI) for the United Kingdom fell to 53.7 in June from 55.2 …

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• 5 July 2023 12:56 pm

  Japan’s Nikkei decline amid profit-taking

  

  The Japanese Nikkei index fell at the close on Wednesday for the second day in a row, amid investors taking profits that came after a wave of rises in the market recently. Fast Retailing pressured the index after the company that owns the Uniqlo brand announced a decline in monthly …

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• 5 July 2023 11:25 am

  Turkey’s annual inflation slowed to 38.21% in June

  

  Turkey’s annual inflation slowed for the seventh month in a row, reaching 38.2% against expectations of 39.47%. In June, inflation recorded 39.5%, after a slowdown from record levels in October 2022, which reached 85.5%. On Thursday, June 22, Turkey’s central bank raised the country’s main interest rate, nearly doubling it …

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• 5 July 2023 10:19 am

  Oil prices are falling under the weight of fears of a global economic slowdown

  

  Oil prices fell on Wednesday, erasing gains from the previous session, as fears of a global economic slowdown curbing fuel demand outweighed expectations of further supply cuts due to production cuts announced by Saudi Arabia and Russia for August. Brent crude fell 14 cents, or 0.2 percent, to $76.11 a …

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• 5 July 2023 4:07 am

  Market Drivers – US Session – 04/07/2023

  

  On a quiet day marking US holiday, the US dollar posted mixed results. Commodity-linked currencies were the top performers. Markets await new information, and volatility is set to pick up on Wednesday with the release of the FOMC minutes. Then, the focus will turn to US labor market data with …

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• 4 July 2023 11:21 pm

  Oil prices surge 2% as market weighs supply cuts against economic outlook

  

  Tuesday saw a 2% increase in oil prices as traders weighed August production curbs by major producers Saudi Arabia and Russia against a gloomy forecast for the world economy. On Monday, Saudi Arabia announced that it would continue to reduce its voluntary output by 1 million barrels per day (bpd) …

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• 4 July 2023 9:35 pm

  Gold price benefits from weaker US dollar

  

  Gold futures rose, taking advantage of the decline in the US dollar since the beginning of trading on Tuesday, as stock markets and US Treasury bonds were closed to mark the Independence Day holiday.Gold futures rose to $1,924.69 per ounce, compared to the previous daily closing, which was recorded at …

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• 4 July 2023 8:51 pm

  NZD/USD rises on RBA’s hawkish stance amid softer US dollar

  

  The NZD/USD pair has gained support from the Reserve Bank of Australia’s hawkish stance and the weaker US dollar during the US holiday session. The uncertain economic outlook in the US due to mixed data and recession fears increases the likelihood of rate hikes. New Zealand’s QSBO improves in Q2, …

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• 4 July 2023 7:42 pm

  Canadian Dollar Surges On Rising Oil Price

  

  The Canadian Dollar has seen a slight increase in value due to rising oil prices and supply concerns. The Canadian Manufacturing PMI data release, which came out a few hours ago, was lower than expected and continues to show contraction, but has had a limited impact on the exchange rate.The …

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• 4 July 2023 3:46 pm

  Gold slightly rises on anticipated Fed’s interest rate hike

  

  Gold prices rose on Tuesday amid weak trading due to the US Independence Day holiday, but the rise in the dollar limited gains at a time when traders await more economic data later in the week in search of indications about the Federal Reserve’s intentions regarding raising interest rates in …

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• 4 July 2023 1:03 pm

  Stability of European stocks and the decline of the mining sector

  

  European stocks were flat on Tuesday as uncertainty over the path of global interest rates sent investors cautious, while miners fell on fears of weak demand from China. The European Stoxx 600 index settled at 461.17 points by 0710 GMT, at a time when investors focus on assessing signs of …

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• 4 July 2023 12:24 pm

  Yen stabilizes as markets await the intervention of the authorities and AUD declines

  

  The yen stabilized on Tuesday, but remained vulnerable to further declines as markets awaited signs of intervention by the Japanese authorities, and the Australian dollar fell after the central bank decided to keep interest rates unchanged. The Reserve Bank of Australia kept interest rates at 4.10 percent, saying it needed …

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• 4 July 2023 11:12 am

  Japan’s Nikkei Index gives up a 33-year high on profit-taking

  

  Japan’s Nikkei fell on Tuesday, giving up a 33-year high recorded in the previous session, as investors took profits, and a market holiday in the United States also added to the caution of dealers. The Nikkei index closed down 0.98 percent at 33,422.52 points, after closing at 33,753.33 points on …

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