Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 26 July 2023 9:45 pm

  WTI slides towards $79.00 ahead of Fed decision

  

  WTI gained support at a $78.66 daily low and later rose above $79.00 although still suffering daily losses. The FOMC decision, which is anticipated to result in a 25 bps raise, will be the session’s high point. EIA Crude Oil stockpiles decreased by 0.6M in the third week of July, …

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• 26 July 2023 9:12 pm

  EUR/USD holds steady above 1.1070 in the early US session

  

  As investors avoid taking up significant positions before the Fed announces its monetary policy decisions, the EUR/USD pair gained momentum midweek and stabilised above 1.1070. On Tuesday, the pair fell to 1.1020, its lowest point in two weeks, but recovered in the early American session. The US Dollar lost appeal …

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• 26 July 2023 8:24 pm

  X-inspired coins being pumped amid Elon Musk’s steps to revamp Twitter

  

  Following the rebranding of Twitter CEO Elon Musk to X, numerous cryptocurrency projects, including AI-X, X-Coin, and X token, have seen large pumps and dumps. This emphasises the significance of conducting careful study and exercising due diligence before investing in a cryptocurrency. Market share has been controlled by X currencies, …

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• 26 July 2023 7:52 pm

  US dollar struggles ahead of Fed’s interest rate decision

  

  The US Dollar is struggling to find demand as markets await the FOMC’s highly-anticipated monetary policy decisions. The USD index, which tracks the USD’s valuation against a basket of six major currencies, is expected to decline toward 101.00 after closing in the red on Tuesday. The Fed is widely anticipated …

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• 26 July 2023 5:07 pm

  Barclays says Apple September quarter guidance could miss Street estimates

  

  In a letter to investors on Wednesday, Barclays analysts expressed their concern that Apple’s forecast for the September quarter would fall short of market expectations. Despite the likely miss, the analysts said it’s not obvious that it matters for the stock because “bulls may expect a stronger Dec-Q.” They rate …

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• 26 July 2023 2:52 pm

  Australia fines Meta $14 million for collecting user data for advertising purposes

  

  An Australian court has ordered Meta Platforms, owner of Facebook, to pay fines a total of A$20 million ($14 million) for harvesting user data through a smartphone app that was promoted as a way to protect privacy without disclosing its actions. The Australian Federal Court also ordered Mita to pay …

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• 26 July 2023 1:01 pm

  Gold rises as traders await indications from the Fed

  

  Gold rose, but its movements remained within a narrow range on Wednesday, as dealers held back from big bets ahead of the US Federal Reserve’s policy decision later in the day. Spot gold rose 0.3 percent to $1,969.51 an ounce by 0747 GMT. US gold futures rose 0.4 percent to …

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• 26 July 2023 10:22 am

  Nikkei closes lower ahead of the BoJ meeting

  

  The Japanese Nikkei index fell slightly on Wednesday, July 26, under pressure from the decline in stocks of auto and tire makers, while investors engaged in selling to take profits ahead of the monetary policy meeting of the Central Bank of Japan, which lasts for two days this week. The …

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• 26 July 2023 9:34 am

  Oil is falling due to the increase in US crude stocks

  

  Oil prices fell on Wednesday, retreating from their highest levels in three months the day before, after industry data showed a rise in US crude stocks, but signs of shrinking global supplies and hopes for a stimulus in China limited losses. Brent crude futures fell 32 cents, or 0.4 percent, …

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• 26 July 2023 4:04 am

  Market Drivers – US Session – July 25

  

  Wall Street saw another successful trading day with the Dow Jones climbing by 0.08% and the Nasdaq increasing by 0.61%. The positive tone prevailed ahead of key events for markets, supported by hopes of more stimulus from China and for the near end of the tightening cycle from central banks. …

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• 26 July 2023 3:40 am

  Dow records longest rally since 2017 ahead of rate policy decision

  

  As traders considered the most recent earnings reports, the Dow Jones Industrial Average closed higher for the 12th straight day, recording its longest winning streak in more than six years. The Dow gained 26.83 points, or 0.08%, to reach 35,438.07, making it the 30-stock index’s 12th straight winning session and …

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• 26 July 2023 2:55 am

  FOMC Decision Preview: Is it possible to hike rate and avoid recessionary impact?

  

  The American central bank is expected to raise interest rates by another quarter point at its July 25-26 meeting, marking their eleventh total increase since March 2022. This decision comes after investors and consumers celebrated an inflation win in June, with prices rising 3% from the previous year. Core inflation, …

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• 26 July 2023 12:07 am

  Gold gains amid Fed’s decision expectations

  

  In anticipation of the post-FOMC meeting press conference and the Fed’s monetary policy statement, uncertainty has caused gold to recover from four straight days of losses and move over the 100-day SMA.  The precious metal is trading at $1964.99 per ounce at the time of writing. The US released strong …

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