Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 16 May 2023 9:42 pm

  Gold falls amid high US bond yields

  

  Gold prices fall 1.48% as US economic data showcases resilience, led by strong retail sales and industrial production figures. Hawkish tones from Fed officials Mester and Barkin contribute to rising US Treasury bond yields, further pressuring gold prices; trading at $1985. 76 per ounce at the time of writing. Upcoming …

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• 16 May 2023 8:31 pm

  AUD/USD slides after RBA’s minutes, weaker Chinese data

  

  The AUD/USD pair falls 0.62% as US economic data remains strong, while weaker-than-expected Chinese data weighs on the Australian Dollar.Hawkish remarks from Federal Reserve officials and concerns over “unacceptably high inflation” keep the US Dollar well-supported in the North American session. The Reserve Bank of Australia minutes show potential for …

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• 16 May 2023 7:34 pm

  Most cryptos fall as Bitcoin holds above the $27,000 mark

  

  The price of one bitcoin on Tuesday was $26,985 for most of the trading day, and it appeared that the crypto currency was gradually beginning to recover. Bitcoin is trading at $27,020.28 at the time of writing. The cost of the most expensive cryptocurrency in the world dropped from $27,180 …

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• 16 May 2023 4:42 pm

  US Retail Sales rise 0.4% in April

  

  The US Census Bureau reported on Tuesday that retail sales in the United States increased 0.4% in April to $686.1 billion. This report follows a 0.7% (updated from -0.6%) fall in March and fell short of the 0.7% gain expected by the market. In the same period, Retail Sales ex-Autos …

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• 16 May 2023 2:47 pm

  German ZEW Economic Sentiment Index declines in May

  

  The German ZEW headline figure revealed that the Economic Sentiment Index fell substantially in May, falling to -10.7 from 4.1 in April, falling short of the market forecast of -5.5. Meanwhile, the Current Situation Index rose to -34.8 from -32.5, above the market forecast of -37.5. During the same time …

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• 16 May 2023 1:44 pm

  Automotive and mining stocks lead losses in European markets

  

  European stocks fell on Tuesday, affected by losses in automakers and mining stocks after weak data from China fueled fears of a slowdown in the Chinese economy and while investors await more economic data from the euro zone. The European Stoxx 600 index fell 0.2 percent, and most of the …

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• 16 May 2023 12:38 pm

  Japan’s Topix closes at a 33-year peak and chip stocks follow Nasdaq’s gains

  

  The Japanese Topix index closed at the highest level in 33 years on Tuesday, after companies showed strong expectations during the results season, and stocks of companies related to chip manufacturing tracked the gains made by the Nasdaq index at the close of trading on Monday. The broader Topix index …

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• 16 May 2023 11:46 am

  Gold fell after signs from the Fed that interest rates will continue to rise

  

  Gold prices fell slightly on Tuesday after traders carefully weighed comments by Federal Reserve officials about keeping interest rates high, while talks on raising the US debt ceiling and the risk of default limited losses for bullion. Spot gold prices fell 0.2% to $2015.84 an ounce by 0452 GMT, while …

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• 16 May 2023 5:21 am

  Market Drivers – US Session – 15/05/2023

  

  Atlanta Federal Reserve President Raphael Bostic said, on Monday, that if he were voting now, he would vote to hold rates in June, but warned that he has to keep a possible rate hike on the table. He also forecasts inflation to be in the high 3s by year-end, and …

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• 16 May 2023 2:24 am

  Yellen: Treasury’s borrowing costs had already increased for early June

  

  The US Treasury Department reiterated Monday it expects to be able to pay the US government’s bills only through June 1 without a debt limit increase, increasing pressure on congressional Republicans and the White House to reach a deal in coming days.The news also quotes US Treasury Secretary Janet Yellen …

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• 16 May 2023 1:06 am

  USD/CAD dives amid soaring Canadian Dollar, softer USD

  

  The USD/CAD pair made a U-turn after hitting a daily high of 1.3567 due to overall US Dollar weakness, spurred by a risk-on impulse and higher oil prices. Canadian housing started increasing by 22% in April, with total units rising to 261,600. Data from Canada underpinned the CAD, with Canadian …

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• 15 May 2023 11:39 pm

  Gold defends corrective bounce amid debt ceiling fight

  

  Gold price is struggling to defend the week-start corrective bounce amid mixed sentiment. Anxiety ahead of the top-tier United States data, debt ceiling talks prod XAU/USD buyers. Meanwhile, the US Dollar bears take a breather amid hawkish Federal Reserve talks.Also challenging the XAU/USD’s week-start corrective bounce are the mixed updates …

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• 15 May 2023 10:12 pm

  GBP/USD soars on emerging bullish-engulfing pattern

  

  Disappointing Concern for the US economy is raised by the New York Empire State Manufacturing Index’s sharp decline to -31.3. According to Biden and Brainard, “serious and constructive” discussions are taking place over raising the US debt ceiling.The BoE recently increased rates by 25 basis points to combat inflation; future …

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