Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 8 September 2023 12:16 pm

  Gold is heading for a weekly decline in light of the strength of the US economy

  

  Gold rose slightly on Friday as the dollar retreated from its high levels, but the precious metal is still on track to record a weekly decline as investors focus on the increasingly strong US data. Gold rose in spot transactions 0.3 percent to $1,925.14 per ounce by 0545 GMT, but …

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• 8 September 2023 5:15 am

  Market Drivers – US Session, September 7, 2023

  

  The US dollar is still strong, and on Friday it will try to hold onto or increase its weekly gains. Japan will make its Q2 GDP figures public during the Asian session. The Canadian jobs report will be the day’s main event later on.The Nasdaq fell 0.89%, while the Dow …

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• 8 September 2023 12:59 am

  US stocks drop as jobless claims data refuel rate bets

  

  The largest retreat on Thursday’s declines on the S&P 500 and Nasdaq Indexes was Apple, along with a selloff in chip companies due to worries over China’s iPhone bans. Concerns about interest rates and persistent inflation increased as a result of a drop in weekly US unemployment claims. The S&P …

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• 7 September 2023 10:47 pm

  Gold’s appeal worsens following US labour data

  

  Even if other countries are suffering from the effects of tight monetary policy, the US economy is nevertheless robust. The US service sector is experiencing strong demand, which would allow the Federal Reserve to keep the door open for additional policy tightening. In comparison to estimates and the previous report …

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• 7 September 2023 9:47 pm

  USD/JPY gains some ground on BoJ intervention expectations

  

  On Thursday, the USD/JPY pair dropped over 0.30% in the direction of 147.20 on rising anticipation that the Bank of Japan (BoJ) will act to halt the JPY’s collapse. Although the USD is stabilizing, the Federal Reserve’s hawkish wagers have limited the dollar’s potential loss. The pair is roughly trading …

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• 7 September 2023 8:49 pm

  Sterling Pressured On Reluctant BoE Policy Decision

  

  The Pound Sterling seems under pressure due to the Bank of England’s reluctance to raise interest rates further. The current policy is considered restrictive, and further hikes could make the economic outlook vulnerable. The UK services sector is shrinking after six months of expansion, and policy divergence between the BoE …

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• 7 September 2023 7:48 pm

  Dollar boosted by mounting concerns of potential additional US hike

  

  The Euro Zone is experiencing economic setbacks, with the EUR/USD pair piercing the 1.0700 level and maintaining a bearish trend. The dollar is gaining strength, with EUR/USD trading below the 1.0700 threshold for the first time since early June. Financial markets are cautious due to solid US macroeconomic figures and …

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• 7 September 2023 2:56 pm

  Germany’s industrial output fell more than expected in July

  

  Germany’s industrial output fell slightly more than expected in July, the Federal Statistics Office said on Thursday, highlighting the challenges facing the sector after Europe’s largest economy slumped in the winter. Production fell 0.8 percent in July compared to the previous month. Analysts in a poll conducted by Reuters expected …

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• 7 September 2023 1:57 pm

  European stocks decline for the seventh day as investor sentiment deteriorates

  

  European stocks fell for the seventh consecutive session on Thursday, heading towards the longest losing streak in more than five years, affected by fears of a slowdown in the European economy and keeping US interest rates high. By 0714 GMT, the European STOXX 600 index fell 0.4 percent, hitting its …

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• 7 September 2023 12:31 pm

  Dollar dominates currency markets

  

  A sharp rise in the dollar pushed the yen to a 10-month low on Thursday and kept the euro and sterling near three-month lows as investors put their full faith in the still-strong US economy despite the bleak global growth outlook. The dollar rose to a new peak at 147.875 …

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• 7 September 2023 11:40 am

  Oil fell amid concerns about demand in China and during the winter season

  

  Oil prices fell on Thursday as concerns about demand during the winter season and China’s unclear economic outlook outweighed expectations of tight supplies as a result of Saudi Arabia and Russia extending voluntary production cuts. Brent crude futures fell 24 cents to $90.36 a barrel by 0412 GMT, after a …

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• 7 September 2023 4:10 am

  Market Drivers – US Session, Sep. 6

  

  As US markets continue to decline, with the Dow Jones losing 0.57% and the Nasdaq losing 1.05%, risk aversion is still evident. Market investors will pay special attention to Chinese trade statistics throughout the Asian session. Positive results might allay worries about the Chinese economy’s current status.EUR/USD reached fresh monthly …

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• 7 September 2023 2:46 am

  Could gold reshine on Thursday?

  

  Following a five-day losing skid, the price of gold has increased from a one-week low to $1,918 on Thursday during the Asian session. Because of the strengthening US Dollar, rising US Treasury bond yields, worries about China, and other factors, the price of gold is declining. The US ISM Services …

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