Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 26 June 2023 7:05 pm

  USD/CAD expected to head above 1.3

  

  The Canadian dollar is quietly advancing to be the top G10 currency this month. Economists are keen to analyze USD/CAD outlook.Canada’s dollar generally tends to do well when Fed rates peak. The USD/CAD pair is trading at 1.3155 at the time of writing. While the outlook for Fed Funds is …

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• 26 June 2023 3:40 pm

  Lower oil prices, ignoring the political turmoil in Russia

  

  Oil prices fell on Monday after Russia’s private military group Wagner revolted at the weekend, although political instability did not appear to pose an immediate threat to oil supplies from one of the world’s top producers. And by 0900 GMT, Brent crude futures fell eight cents, or 0.1 percent, to …

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• 26 June 2023 2:12 pm

  European stock markets open lower, with bank stocks falling

  

  European stocks fell on Monday as a sharp decline in financial stocks offset gains in the energy sector due to concerns about political instability in Russia, a major oil producer. The pan-European STOXX 600 was down 0.3% by 0717 GMT, after posting its biggest weekly percentage loss in three months …

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• 26 June 2023 1:33 pm

  Dollar is shaking as investors focus on interest rates and the economic outlook

  

  The dollar fell on Monday before getting some safe-haven support as concerns persisted that the prolonged monetary tightening policy pursued by major central banks could further damage the global economic outlook. Recent events in Russia also kept investors on guard, but the reaction in the currency market was muted as …

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• 26 June 2023 12:14 pm

  Gold is rising with the support of the dollar’s decline

  

  Gold prices rose on Monday in early Asian transactions, supported by the decline in the US dollar, although the prospects for raising US interest rates again this year to curb inflation negatively affected the appetite for the precious metal. By 0051 GMT, gold in instant transactions increased 0.3 percent to …

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• 26 June 2023 11:30 am

  Nikkei is down for the third consecutive session

  

  Japan’s Nikkei fell for the third consecutive session on Monday, after spending the day swinging between small gains and losses. The Nikkei index closed down 0.25 percent at 32,698.81 points. The benchmark index had fallen by about 2.4 percent in the previous two sessions, after rising over several months to …

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• 26 June 2023 4:32 am

  Financial Markets’ Weekly Recap: June 19-23

  

  The euro fell on Friday after data indicating stagnation in the growth of business activities in the single currency area this month, while the dollar received support from risk aversion and statements indicating continued monetary tightening from global central banks, including the Federal Reserve (Central US). The dollar index, which …

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• 24 June 2023 3:25 am

  Why do markets look forward to the ECB Forum in Sintra?

  

  Another platter of worthy reports from significant economies and significant risk occurrences will be presented to investors next week. The European Central Bank’s three-day forum in Sintra, Portugal, which begins on Monday, will likely be the primary attraction. The forum will convene amid global sentiment that is still shaky as …

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• 24 June 2023 3:08 am

  Market Drivers – US Session – 23/06/23

  

  The EUR/USD pair came under strong bearish pressure on Friday. PMI surveys signaled a loss of growth momentum in the Eurozone economy. Euro could continue to push lower once 1.0870 is confirmed as resistance. FOMC Chairman Jerome Powell’s hawkish rhetoric on the second day of his congressional testimony and the …

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• 24 June 2023 2:03 am

  EUR/JPY erases daily losses amid sour sentiment

  

  In spite of the US session’s negative market sentiment, the EUR/JPY pair has managed to reverse its daily losses. The EUR/JPY pair has rebounded to 156.60 after finding support at a low of 155.06. The PMIs for Germany and Europe were weaker than anticipated. The Yen is weighed down by …

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• 23 June 2023 10:21 pm

  Wall Street heading for a losing week

  

  Stocks dipped on Friday, with Wall Street on track to post a losing week as a rally that carried the broader market in recent months appeared to run out of steam.The Dow Jones Industrial Average dipped 139 points, or 0.41%. The S&P 500 slid 0.40%, and the Nasdaq Composite was …

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• 23 June 2023 8:37 pm

  Natural Gas declines on PMI data signaling global slowdown

  

  Lower-than-expected PMI data from significant nations, particularly the US, which raises doubts about growth and ongoing demand, caused a decline in the price of natural gas. Due to a rise in demand for natural gas, which is used to power air conditioning in many nations, the price has been rising. …

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• 23 June 2023 7:39 pm

  Gold under pressure amid expected more rates hikes by year end

  

  Gold is trading at $1922 per ounce at the time of writing, up by +0.46% versus the previous closing price. During the months of April and May, the price of Gold breached the $2,000 mark and was only within a few Dollars away of the record high. Analysts even expect …

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