Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 7 September 2023 8:49 pm

  Sterling Pressured On Reluctant BoE Policy Decision

  

  The Pound Sterling seems under pressure due to the Bank of England’s reluctance to raise interest rates further. The current policy is considered restrictive, and further hikes could make the economic outlook vulnerable. The UK services sector is shrinking after six months of expansion, and policy divergence between the BoE …

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• 7 September 2023 7:48 pm

  Dollar boosted by mounting concerns of potential additional US hike

  

  The Euro Zone is experiencing economic setbacks, with the EUR/USD pair piercing the 1.0700 level and maintaining a bearish trend. The dollar is gaining strength, with EUR/USD trading below the 1.0700 threshold for the first time since early June. Financial markets are cautious due to solid US macroeconomic figures and …

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• 7 September 2023 2:56 pm

  Germany’s industrial output fell more than expected in July

  

  Germany’s industrial output fell slightly more than expected in July, the Federal Statistics Office said on Thursday, highlighting the challenges facing the sector after Europe’s largest economy slumped in the winter. Production fell 0.8 percent in July compared to the previous month. Analysts in a poll conducted by Reuters expected …

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• 7 September 2023 1:57 pm

  European stocks decline for the seventh day as investor sentiment deteriorates

  

  European stocks fell for the seventh consecutive session on Thursday, heading towards the longest losing streak in more than five years, affected by fears of a slowdown in the European economy and keeping US interest rates high. By 0714 GMT, the European STOXX 600 index fell 0.4 percent, hitting its …

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• 7 September 2023 12:31 pm

  Dollar dominates currency markets

  

  A sharp rise in the dollar pushed the yen to a 10-month low on Thursday and kept the euro and sterling near three-month lows as investors put their full faith in the still-strong US economy despite the bleak global growth outlook. The dollar rose to a new peak at 147.875 …

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• 7 September 2023 11:40 am

  Oil fell amid concerns about demand in China and during the winter season

  

  Oil prices fell on Thursday as concerns about demand during the winter season and China’s unclear economic outlook outweighed expectations of tight supplies as a result of Saudi Arabia and Russia extending voluntary production cuts. Brent crude futures fell 24 cents to $90.36 a barrel by 0412 GMT, after a …

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• 7 September 2023 4:10 am

  Market Drivers – US Session, Sep. 6

  

  As US markets continue to decline, with the Dow Jones losing 0.57% and the Nasdaq losing 1.05%, risk aversion is still evident. Market investors will pay special attention to Chinese trade statistics throughout the Asian session. Positive results might allay worries about the Chinese economy’s current status.EUR/USD reached fresh monthly …

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• 7 September 2023 2:46 am

  Could gold reshine on Thursday?

  

  Following a five-day losing skid, the price of gold has increased from a one-week low to $1,918 on Thursday during the Asian session. Because of the strengthening US Dollar, rising US Treasury bond yields, worries about China, and other factors, the price of gold is declining. The US ISM Services …

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• 7 September 2023 1:35 am

  Biden administration reinstates halted oil drilling permits in Alaska

  

  In order to build and expand oil drilling projects in the Arctic National Wildlife Refuge, the state of Alaska was awarded oil drilling leases in 2017. The White House administration of President Joe Biden has revealed plans to formally revoke these leases. The leases, issued by the former administration of …

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• 6 September 2023 11:58 pm

  USD/CAD poised to break through despite the BoC’s hawkish stance

  

  The USD/CAD pair increases as rising US Treasury yields result from positive economic data in the United States. Although the Bank of Canada maintained interest rates steady, it cautions that further increases should not be ruled out. Despite the BoC’s aggressive stance, the US dollar dominates the foreign exchange market, …

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• 6 September 2023 10:42 pm

  Beige Book: Economic growth modest in July, August, job growth was subdued

  

  According to Federal Reserve’s Beige Book, economic growth was modest during July and August. It added that job growth was subdued. “Most Districts reported price growth slowed overall, decelerating faster in manufacturing and consumer-goods sectors,” the Beige Book noted. Key Takeaways: Contacts from most Districts indicated economic growth was modest …

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• 6 September 2023 9:31 pm

  Oil prices pull US stocks lower

  

  US stocks tumbled Wednesday morning as the price of oil hovered around a 10-month high after surging yesterday on Saudi Arabia’s production cuts.The Nasdaq was down 1.4% in the early afternoon, while the S&P 500 lost 1% and the Dow Jones Industrial Average fell 0.9%.Oil futures jumped more than 2% …

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• 6 September 2023 8:23 pm

  ECB could decide a final hike next week

  

  The Governing Council of the European Central Bank (ECB) will convene the following week. Analysts believe that the ECB will carry out one more 25 basis point rate hike. They claim that the ongoing strong inflation momentum and the anticipated inflation levels above the target are what led to this …

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