Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 21 July 2023 10:55 am

  Dollar is rising and Japan’s inflation data is boosting the yen

  

  The dollar rose on Friday as data indicated a resilient US labor market could prompt the Federal Reserve to keep interest rates higher for longer, while the yen strengthened after core consumer inflation in Japan accelerated again in June. Next week, central bank meetings will be held in Europe, Japan …

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• 21 July 2023 9:45 am

  Oil rises as markets assess falling inventories and possible Chinese stimulus

  

  Brent crude prices rose in Asian trading on Friday, amid market assessments of the possibility of announcing economic stimulus measures in China after weak economic data, as well as falling inventories in the United States and reducing supplies from two major producers. Brent crude futures rose 63 cents to $80.27 …

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• 21 July 2023 2:54 am

  

  Market Drivers – US Session – July 20 Due to lower-than-expected profits and data that could justify further Federal Reserve rate hikes, US stocks slightly declined on Thursday. The Dow Jones managed to close with a 0.45% gain while the Nasdaq lost over 2% of its value. The DXY increased …

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• 21 July 2023 2:35 am

  EUR/USD licks dragged lower on strong US dollar

  

  EUR/USD has dropped to its lowest level in two months, with the pair trading around 1.1130 after a three-day losing streak against the strong US Dollar. The US Jobless Claims data and downbeat tech sector performance have favored Treasury yields, boosting the US dollar. The Philadelphia Fed Manufacturing Survey gauge …

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• 21 July 2023 2:12 am

  Wall Street’s rally weakens after Tesla, Netflix miss estimates

  

  Tesla and Netflix’s spring profits have delayed Wall Street’s advance after the two tech-focused businesses who announced their spring profits. Despite better-than-expected profit and revenue, Tesla’s stock fell 9.7%, and analysts think that investors may be worried about the electric vehicle manufacturer’s profitability following price cuts. The summertime shutdown of …

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• 21 July 2023 12:51 am

  El Salvador’s bonds benefited from Bitcoin’s recent gains

  

  El Salvador’s junk-rated bonds have experienced a significant surge in value in the past six months, with the value of the country’s bonds up 62%. This is part of a market-wide trend in junk-rated bonds in 2023, with El Salvador’s bonds outperforming the Invesco Emerging Markets Sovereign Debt. El Salvador’s …

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• 21 July 2023 12:18 am

  Sterling continued its slide as hawkish BoE expectations eased

  

  As market expectations for future aggressive rate hike from the BoE relatively disappeared post the UK’s dropping inflation, the Pound Sterling kept falling versus the US dollar. The inflated British pound was greatly impacted by the US dollar, which was also participating in an independent surge. As the money markets …

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• 20 July 2023 11:20 pm

  WTI abandons daily gains on US dollar’s momentum

  

  WTI barrel reached a high of $76.11 on Thursday, but later settled below $76.00. The US crude benchmark is currently trading at $75.72. The WTI’s upwards potential is limited by a cautious market environment and a strong dollar, while reports of oil American stocks may limit the downside. Crude oil …

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• 20 July 2023 10:12 pm

  Gold retreats from 7-week high on Fed rate hike-linked fears

  

  The price of gold has fallen from 7-week highs at $1,987.42 as concerns over the Fed continuing to tighten conditions past the July meeting were rekindled by economic data from the US. As a result, US Treasury bond yields increased, which hurt the price of gold. Earlier on the day, …

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• 20 July 2023 9:00 pm

  After US Jobless Claims reading, USD/JPY rises back above 140.00

  

  The USD/JPY recorded advances for a fifth straight day, reaching a peak just shy of 140.40. The second week of July saw a slowdown in Jobless Claims, which fueled an increase in US rates. The Fed Survey and Existing Home Sales in Philadelphia produced subpar results. The pair is trading …

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• 20 July 2023 7:51 pm

  Soaring T-yields boost US dollar’s recovery

  

  The US dollar has gained momentum during the trading session, with the US Dollar Index (DXY) climbing to a weekly high above 100.50. Rising US Treasury bond yields have provided a significant boost to the US currency. The number of first-time unemployment benefits applications in the US declined to 228,000 …

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• 20 July 2023 4:57 pm

  US: Weekly Initial Jobless Claims decline to 228K

  

  Initial applications for unemployment insurance reached 228,000 in the week ending July 15, according to the US Department of Labor’s (DOL) release of weekly data on Thursday. Since early May, this reading is the lowest. The print came in below/above market forecasts of 242,000 and follows the prior week’s 237,000 …

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• 20 July 2023 3:11 pm

  The current account surplus for the eurozone rose in May

  

  Data from the European Central Bank showed on Thursday that the eurozone’s current account surplus rose in May as the goods and services trade surplus widened. On the basis of adjusted data, the euro area, which includes 20 countries, recorded a surplus of 9.1 billion euros, compared to 3.8 a …

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