Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 17 July 2023 11:52 pm

  AUD/USD struggles to touch 0.6800 ahead of RBA Minutes, US Retail Sales

  

  After a two-day losing streak, the Australian dollar (AUD/USD) is under pressure, which has dampened the corrective rally from late Monday. Chinese data-related worries, dovish fears about the Reserve Bank of Australia (RBA), and market inflation all contribute to the pair’s poor performance. The Fed’s policy SPECULATIONS and market-wide cautious …

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• 17 July 2023 10:37 pm

  GBP/USD retreats on Chinese economic concerns

  

  The GBP/USD pair declines by 0.08% as investors flee to shelter in response to poor Chinese GDP statistics; the exchange rate drops below 1.3100. Despite indications of an impending UK recession, expectations of a 50 bps rate increase by the Bank of England in August keep things tense.Investors assess the …

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• 17 July 2023 9:13 pm

  Canada’s dollar volatile as Crude Oil declines

  

  The Canadian dollar is trades in volatile ups and downs against its US counterpart after hitting a technical ceiling and a decline in Oil prices. Oil falls from weaker-than-expected Chinese growth data for Q2 and the reopening of Libya’s largest Oil field. A thick knot of technical support levels just …

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• 17 July 2023 7:45 pm

  Why could gold break into all-time high in 2024?

  

  Gold is expected to move sideways around $1,950 until the end of 2023 and beyond, according to economists. By the end of the year, there may be some scope for an upward move to $2,000 due to the US central bank’s sharp rate hikes. This could indicate that the American …

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• 17 July 2023 2:26 pm

  Dollar nears lowest level in 15 months amid policy speculations

  

  The dollar fell on Monday against a basket of currencies after recording the largest weekly decline this year, as dealers await economic data and monetary policy decisions. The euro continued to rise, rising 0.15 percent, to hit a 16-month high of $1.12440. The dollar fell against the yen 0.27 percent …

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• 17 July 2023 12:30 pm

  European stocks fall after Underwhelming Chinese growth data

  

  After the announcement of dismal Chinese GDP figures, European stock markets declined on Monday as the second quarter results season got underway. At 07:30 GMT, the FTSE 100 in the United Kingdom traded down 0.1%, the CAC 40 in France dropped 0.7%, and the DAX index in Germany traded down …

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• 17 July 2023 12:10 pm

  China’s daily oil consumption increased amid operation resumption

  

  Official data showed on Monday that the average daily consumption of oil refineries in China rose 1.6 percent from the previous month, with refineries resuming operations after completing maintenance in the spring and increasing production to meet the demand for travel in the summer. Data from the National Bureau of …

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• 17 July 2023 10:15 am

  China’s economy grew by 6.3% in the second quarter of 2023

  

  China’s economy grew in the second quarter of 2023 by 6.3%, against expectations of 7.3%. On a quarterly basis, the Chinese economy grew by 0.8% in the second quarter, slowing down from 2.2% levels, but it came better than expectations that indicated a growth of 0.5%. A spokesman for the …

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• 17 July 2023 8:55 am

  Oil prices fell after Libya resumed production

  

  Oil prices fell for a second session on Monday after Libya resumed production at the weekend, while China, the world’s largest crude importer, is expected to release data showing that the post-pandemic economic recovery is facing bumps. Brent crude futures fell 57 cents, or 0.7 percent, to $79.30 a barrel …

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• 17 July 2023 5:55 am

  Financial Markets’ Weekly Recap, July 10-14

  

  After an intense week across most financial markets, volatility is unlikely to ease soon. Market participants will continue to digest the latest round of US inflation data, particularly the CPI and PPI data, with a special focus on the upcoming FOMC meetings. The Fed enters its blackout period ahead of …

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• 14 July 2023 11:44 pm

  Macklem: Canada’s nflation will be around 3% going forward

  

  Tiff Macklem, governor of the Bank of Canada, anticipates that inflation will hover around 3% in 2019 before gradually returning to the 2% objective. He stated in an interview with The Globe and Mail that although the labour market has improved somewhat, it is still extremely tight. He argued that …

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• 14 July 2023 10:39 pm

  Wall Street continues to climb post-Consumer Sentiment reading

  

  US stocks maintained their uptrend and are rising boosted by the preliminary US consumer sentiment reading that highlighted a boost in overall sentiment in July, according to the University of Michigan’s key survey. US consumer sentiment rose to 72.6 points, compared to this July, compared to the previous reading, which …

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• 14 July 2023 9:55 pm

  Do energy imports contribute to Eurozone’s shrinking trade deficit?

  

  In May 2022, the Eurozone had a substantially larger trade deficit than it did in May 2022 because countries paid less for energy imports. According to the European Union’s statistics office Eurostat, the trade deficit for the union in May was about 300 million euros ($336.8 million), significantly lower than …

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