Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 3 May 2023 2:18 pm

  Turkish inflation slows to 44% ahead of landmark election

  

  Turkish annual inflation slowed to 43.68% in April, official data showed on Wednesday, easing ahead of elections that polls show President Tayyip Erdogan risks losing largely due to a cost-of-living crisis. Unorthodox rate cuts sought by Erdogan sparked a currency crisis in late 2021, sending inflation to a 24-year peak …

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• 3 May 2023 12:38 pm

  European stocks edge higher; banking sector leads ahead of Fed

  

  European stock markets rose on Wednesday, as generally favourable reports from the banking sector bolstered confidence ahead of the critical Federal Reserve policy meeting. At 07:55 GMT, the DAX index in Germany was 0.5% higher, the FTSE 100 in the United Kingdom was 0.5% higher, and the CAC 40 in …

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• 3 May 2023 10:30 am

  Gold is hovering above $2,000 ahead of the Fed’s rate decision

  

  Gold prices hovered above the $2,000 mark on Wednesday, as investors await the Federal Reserve’s decision on interest rates due later on Wednesday. Gold settled in spot transactions at $ 2016.29 an ounce by 0140 GMT, after rising by more than one percent in the previous session. US gold futures …

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• 3 May 2023 9:59 am

  Dollar is under pressure after the US jobs data

  

  The dollar fell on Wednesday after data showed a decline in new jobs in the United States, while all eyes were on the Federal Reserve’s decision later on Wednesday regarding interest rates. Data on Tuesday showed new jobs fell in the United States for the third month in a row …

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• 3 May 2023 9:37 am

  Oil continues to decline

  

  Oil prices continued their decline on Wednesday, after falling nearly five percent in the previous session to a five-week low, while investors await more rate hikes this week. Brent crude futures fell 13 cents, or 0.2 percent, to $75.19 a barrel by 0015 GMT, while West Texas Intermediate crude fell …

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• 3 May 2023 3:54 am

  Market Drivers – US Session 02/05/2023

  

  The decline in US yields, on Tuesday, boosted gold, which jumped toward $2,020 posting the highest daily close in three weeks. Silver climbed from $24.60 to $25.35. Cryptocurrencies soared, with BTC/USD rising 3.50% to $28,700.Following a sharp drop in equity prices on Wall Street and significant swings in the FX …

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• 3 May 2023 3:12 am

  What assets could a debt ceiling fight impact?

  

  The US debt ceiling fight could impact most financial assets. For example, Bitcoin could react to this fight in one way or another. Some analysts believe raising the debt ceiling would prompt the Fed to print more money, thus boosting capital inflows into “risky” assets like Bitcoin. Top US Senate …

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• 3 May 2023 12:57 am

  Gold approaches $2,020 on weaker US dollar, retreating T-yields

  

  Gold unusually surged on Tuesday, ahead of the Fed’s interest rate release, amid expectations that the US central bank will raise the basic interest rate by 25 points, a rise that came due to the downside pressures on the US dollar.The decline in US yields, on Tuesday, boosted gold, which …

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• 2 May 2023 11:50 pm

  FOMC Decision Preview: Fed’s Surprises Still Probable

  

  In order to stop the tightening cycle, the Fed is predicted to raise rates by 25 basis points. In an unexpected decision, the Reserve Bank of Australia unexpectedly increased the cash rate. Tepid data raises the possibility of a recession as the US dollar enters the event in a weak …

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• 2 May 2023 10:43 pm

  Bluesky invites now hot commodity on higher demand

  

  Bluesky, the Jack Dorsey-backed Twitter alternative, has seen over 375,000 worldwide installs on iOS as of April 26, 2023, and has been ranking highly on Apple and Google’s app stores’ top charts by downloads. Excitement for Bluesky has also been climbing in recent weeks, with the highest level of daily …

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• 2 May 2023 9:43 pm

  Banking selloff drags US stocks lower ahead of FOMC decision

  

  US equities fell on Tuesday as the Federal Reserve started its two-day meeting as the effects of First Republic Bank’s (FRC) failure continued to weigh on bank stocks.During lunchtime trading, the Dow Jones Industrial Average dropped more than 400 points, or 1.4%, while the S&P 500 sank 1.48%. The heavily …

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• 2 May 2023 7:52 pm

  Sterling drops after US bank rescue assures Fed’s rate hike

  

  Fed will almost definitely raise interest rates on Wednesday as the value of the pound against the US dollar falls as a result of the US bank rescue. Bearish two-bar reversal pattern suggests short-term downside pressure for GBP/USD which is trading at 1.2460 at the time of typing.Tuesday’s European session …

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• 2 May 2023 6:31 pm

  JOLTS Job Openings decline below expectations in March

  

  JOLTS Job Openings in the US continued to decline in March. US Dollar Index holds above 102.00 in the American session.The data published by the US Bureau of Labor Statistics (BLS) revealed on Tuesday that the number of job openings on the last business day of March stood at 9.59 …

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