Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 15 June 2023 1:59 pm

  European stocks fell ahead of the central bank meeting

  

  European stocks opened lower on Thursday amid expectations the European Central Bank will raise borrowing costs later in the day, following the Federal Reserve’s indication that it will approve further increases. The rise of H&M shares limited the losses somewhat, and lifted the shares of the retail sector after announcing …

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• 15 June 2023 12:50 pm

  Japan’s Nikkei gave up its gains and closed lower

  

  Japan’s Nikkei index gave up its gains and fell on Thursday, as investors took profits after big gains recorded by the index over four sessions. The Nikkei index fell 0.05% to 33,485.49 points at the close, although it rose most of the day and rose 0.8% to hit a 33-year …

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• 15 June 2023 12:08 pm

  Dollar climbs in Asia after hints from Fed for further interest rate hikes

  

  The dollar rose in Asian trade on Thursday after the Federal Reserve signaled an interest rate hike later in the year, while the currencies of China and New Zealand fell amid signs of slowing economies. Market attention is now turning to other central banks’ decisions late this week. The dollar …

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• 15 June 2023 7:14 am

  ECB Banks Preview: Forecast of 10 major banks

  

  The European Central Bank (ECB) is poised to publish its monetary policy decision on Thursday, June 15 at 12:15 GMT, and as the day approaches, here are the expectations as anticipated by 10 major banks’ economists and researchers. The ECB is widely expected to give another 25 basis point (bps) …

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• 15 June 2023 2:05 am

  Post US Rate Policy Pause Market Drivers, 14/06/2023

  

  Gold finished flat around $1,940, looking weak. Earlier, the yellow metal peaked at $1,960 but dropped after the FOMC rate decision. Silver rose 1% and finished slightly below $24.00. Cryptocurrencies tumbled late on Wednesday, with BTC/USD falling more than 3% and briefly to below the $25,000 level; namely the $24,927.80 …

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• 15 June 2023 1:52 am

  WTI dropped post-FOMC decision

  

  WTI crude oil is trading at $68.80 per barrel at the time of writing. It retreated by -0.82% during the US session on Wednesday, breaking key support structure on the downside as a pause in US interest rate hikes accompanied a bearish forecast for more hikes on the way. This …

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• 15 June 2023 12:07 am

  How has Fed’s Powell explained decision to leave policy rate steady in June?

  

  Federal Reserve Chair Jerome Powell held the customary news conference after rate policy decision to explain why Fed policymakers have decided to leave the policy rate, federal funds rate, unchanged at the range of 5-5.25% at June FOMC meeting. With the immediate reaction, the US dollar gathered strength against its …

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• 14 June 2023 10:49 pm

  Powell: Fed projections are not a plan or decision

  

  FOMC Chairman Jerome Powell is commenting on the policy outlook after the Federal Reserve’s decision to leave the policy rate unchanged at 5-5.25% following the June policy meeting.Key Quotes“At this meeting, considering how far and fast we have moved, judged it prudent to hold rates steady.”“Fed projections are not a …

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• 14 June 2023 10:04 pm

  Breaking: Fed leaves interest rate unchanged at 5-5.25% as expected

  

  The US central bank announced on Wednesday that it left the policy rate, federal funds rate, unchanged at the range of 5-5.25% following the June policy meeting. This decision came in line with the market expectation. The Fed will release the revised Summary of Economic Projections (SEP), the so-called dot …

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• 14 June 2023 8:45 pm

  US equities climb on data indicating easing price pressures

  

  The S&P 500 was 0.4% higher in midday trading after riding a winning streak to its best level since April 2022. The Dow Jones Industrial Average was down 85 points, or 0.2%, at 34,126, as of 11:30 a.m. Eastern time, while the Nasdaq composite was 0.6% higher.The wide expectation on …

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• 14 June 2023 7:42 pm

  Gold surges on falling T-yields ahead of FOMC decision

  

  Gold price surges as falling US Treasury bond yields enhance the appeal of the non-interest-bearing asset. May PPI data from the US BLS comes below expectations, supporting the precious metal. The US dollar Index falls to a four-week low, expecting a rescue from a hawkish Jerome Powell. At the time …

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• 14 June 2023 4:30 pm

  IEA: Global oil demand will grow by 2.4 million bpd this year

  

  The International Energy Agency (IEA) claimed in its latest oil market analysis, published on Wednesday, that “global oil demand will grow by 2.4 million bpd this year, to a record 102.3 million bpd.” The shift to a clean energy economy is picking up pace.A peak in global oil demand is …

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• 14 June 2023 3:23 pm

  US: Annual PPI rises 1.1% in May vs.1.5% expected

  

  The Producer Price Index (PPI) for final demand in the United States grew 1.1% year on year in May, down from 2.3% in April, according to data released on Wednesday by the US Bureau of Labour Statistics. This number was lower than the 1.5% expected by the market. It is …

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