Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 28 July 2023 1:08 am

  Cardano 40% higher on the back of active development activity

  

  The price of Cardano has increased over 40% since its $0.22 low on June 10 and is holding above an uptrend line with potential for more gains. The increase in network development activity, which saw ADA surpass Ethereum to take third place, is widely credited for the surge.A breakout with …

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• 27 July 2023 11:43 pm

  Eurozone blue-chip shares touch 15-year high on ECB’s pause hopes

  

  Eurozone blue-chip shares rallied to their highest in more than 15 years on Thursday as investors anticipated the European Central Bank was close to the end of its tightening cycle. The EURO STOXX 50 index was up 2.3%, touching its highest level since December 2007, while the pan-European STOXX 600 …

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• 27 July 2023 10:41 pm

  USD/JPY sharply reacts to strong hint on BoJ’s drop 0.5% cap in 10Y JGB yields

  

  USD/JPY bears jumped in on a Nikkei news article ahead of the Bank of Japan’s meeting on Friday that took USD/JPY down from 141.10 to 139.20 low in a flash. The Nikkei reported, ” The Bank of Japan will discuss tweaking its yield curve control policy at a policy board …

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• 27 July 2023 9:57 pm

  Stronger US dollar forces gold below $1950

  

  The outlook remains negative for Gold despite oversold readings. Gold prices dropped by more than $30 during the US session and remain under pressure amid a stronger US dollar and higher US Treasury yields. Technical factors also weighed on the yellow metal. XAG/USD bottomed at $1,942 before modestly rebounding. The …

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• 27 July 2023 8:40 pm

  Tighter global supply pushes WTI to highs since April

  

  On Thursday, WTI jumped above $80.00 for the first time since the middle of April. The increase in oil prices is supported by tighter global supply and Chinese stimulus. The price of American crude oil increased by more than 1% to over $80.00, which is the highest level since mid-April. …

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• 27 July 2023 7:46 pm

  Australian dollar retreats on better than expected US GDP data

  

  Following the publication of better-than-expected US GDP figures for the second quarter, the Australian Dollar retreated against the US Dollar on Thursday. The aud/usd pair is trading down by -0.20 at 0.6742 at the time of writing.The report revealed stronger-than-expected labour market data, stronger-than-expected durable goods orders, lower-than-expected GDP price …

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• 27 July 2023 6:45 pm

  US economy beats expectations with spring surge

  

  The US economy experienced a spring surge, with growth reaching an annual rate of 2.4% in the three months to June, despite a slowdown in consumer spending. This growth was driven by a jump in business investment and a 1.6% increase in consumer spending. The Fed’s interest rate hikes have …

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• 27 July 2023 2:57 pm

  President of the Turkish Central Bank: Monetary tightening will continue gradually

  

  The new President of the Turkish Central Bank, Hafiza Ghaya Erkan, said on Thursday that the bank will tighten monetary policy gradually and will continue to implement selective tightening measures. Speaking during a press conference in Ankara to announce the bank’s quarterly inflation report, Erkan stated that inflation will rise …

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• 27 July 2023 12:57 pm

  European stocks rose on a morning full of business results, eyes are on the ECB decision

  

  European stocks rose on Thursday as traders reacted to a slew of earnings reports in the morning and awaited the European Central Bank’s monetary policy decision after the Federal Reserve raised interest rates as expected. And by 0713 GMT, the European STOXX 600 index rose 0.4 percent, after Asian stocks …

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• 27 July 2023 11:41 am

  Gold is at its highest level in a week, supported by the dollar’s decline

  

  Gold prices rose to a one-week high on Thursday, supported by a slight decline in the dollar, as investors weighed somewhat measured comments from Federal Reserve Chairman Jerome Powell following a widely expected interest rate hike. Spot gold rose 0.3 percent to $1,977.13 an ounce by 0352 GMT, after earlier …

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• 27 July 2023 11:14 am

  Dollar is falling amid expectations of the end of the federal interest rate hike cycle

  

  The dollar fell on Thursday after the Federal Reserve made what some predicted would be its last rate hike, with market focus shifting to the European Central Bank’s interest rate decision later in the day. The Fed on Wednesday raised interest rates by a quarter of a percentage point as …

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• 27 July 2023 10:13 am

  Oil is heading to its highest level in more than 3 months with focus on tight supply

  

  Oil prices rose 1 percent on Thursday, to compensate for the losses of the previous session, after overshadowing concerns about the economic slowdown, and expectations of an increase in Chinese demand. And by 0522 GMT, Brent crude futures rose 72 cents, or 0.9 percent, to $ 83.64 a barrel. US …

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• 27 July 2023 1:38 am

  Which assets can best tell the actual impact of Fed’s recent hike?

  

  The EUR/USD pair rises, benefiting from the weaker performance of the US dollar following Fed’s policy decision. The Fed hiked rates by 25 bps as expected to 5.25-5.50%, its highest in 22 years, meanwhile, all eyes are focusing now on ECB’s decision on Thursday, expected to deliver a 25 bps …

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