Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 12 June 2023 5:33 pm

  A pivotal week in global monetary policy is coming

  

  Investors will be following the outcomes of monetary policy meetings in the United States, the European Union, and Japan this week, from Wednesday to Friday. Uncertainty over the trajectory of interest rates has recently been common as persistent inflation maintains firm in some places and begins to surrender in others. …

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• 12 June 2023 2:55 pm

  Oil fell amid anticipation of the US interest rate decision

  

  Oil prices fell by $2 on Monday ahead of a Federal Reserve meeting as investors try to figure out the bank’s direction with regard to raising interest rates, while concerns about growing fuel demand in China and rising Russian crude supplies weighed on the market. Brent crude futures fell $1.91, …

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• 12 June 2023 1:50 pm

  European stocks open higher

  

  European stocks opened higher Monday, June 12, at the start of a week full of important central bank meetings on monetary policies, and shares of the Swiss drug company Novartis rose after it agreed to buy the US-based Chinook. The pan-European Stoxx 600 index rose 0.3%. The Federal Reserve, European …

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• 12 June 2023 1:13 pm

  Turkish lira is falling to a new record level

  

  The Turkish lira fell to a new record low on Monday as investors awaited clues about monetary policy moves after the appointment of a new central bank chief who is expected to raise interest rates. The lira fell 1.3 percent at 23.65 against the dollar at 0834 GMT, after hitting …

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• 12 June 2023 12:22 pm

  Turkey’s current account deficit rose to $5.4 billion in April

  

  The Turkish Central Bank said Monday, June 12, that the country’s current account deficit rose to $5.404 billion in April, which exceeds Reuters expectations, which predicted the deficit would reach $4.5 billion. In March, the Turkish current account deficit recorded 4.903 billion dollars. As for the entire year 2022, the …

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• 12 June 2023 12:05 pm

  Gold shines with the decline of dollar

  

  Gold prices rose sharply in the midday US trading session on Thursday due to the lower US dollar index and declining Treasury yields. August gold futures were last up $24.60 at $1,983.00 and July silver was up $0.796 at $24.325. Gold continues to move sideways, and we await pending orders …

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• 12 June 2023 11:09 am

  Financial Markets’ Weekly Recap, Jun 5-9

  

  Following a surprise 25 basis point (bps) rate hike in May, the Reserve Bank of Australia (RBA) board members opted to raise the Official Cash Rate (OCR) by another 25 basis points (bps) to 4.10% at its June policy meeting, delivering another hawkish surprise. According to the most recent Reuters …

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• 10 June 2023 12:45 am

  Wall Street abandons earlier gains as Fed, CPI awaited

  

  Wall Street has given up earlier gains as the US central bank’s policy decision and the Consumer Price Index (CPI) are awaited.The S&P 500 index is up 0.27% after rallying from a low of 4,279.10 to a high of 4,322.20, falling back to 4,303 currently. The benchmark S&P 500 closed …

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• 9 June 2023 10:34 pm

  AUD/USD reacts to interest rate decisions, broader economic data

  

  The AUD/USD pair has reached the 0.6750s on Friday, but it is trading at 0.6738 at the time of writing due to the speculation that the US central bank may not raise interest rates again for some time. This has impacted the US Dollar at the same time that the …

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• 9 June 2023 9:01 pm

  Despite sanctions, Russian gasoline exports surge in 2023

  

  According to the Kommersant business daily, Russian oil companies have seen a 37% surge in fuel exports from January 1 up till May 30 despite the Western sanctions led by Washington over the war in Ukraine. The publication cited an unidentified source familiar with the data. The January-May 2023 gasoline …

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• 9 June 2023 7:41 pm

  EUR/USD retreats from weekly highs amid falling EU’s bond yields

  

  The Euro is weakened amid falling bond yields; but the shared currency remains supported by monetary policy divergence.ECB is expected to tighten monetary conditions despite the Eurozone recession. Upcoming US CPI data could set the stage for a surprise at the FOMC meeting. The EUR/USD pair reversed its course after …

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• 9 June 2023 5:07 pm

  Canada’s Job Market Unexpectedly Shrinks in May, Unemployment Rate Rises to 5.2%

  

  Canada’s economy unexpectedly lost 17,300 jobs in May, following a gain of 41,400 in April, according to data released by Statistics Canada on Friday. The net change in employment missed the market expectation of a gain of 23,200 jobs for May. As a result, Canada’s unemployment rate rose to 5.2% …

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• 9 June 2023 4:29 pm

  US Dollar set for worst weekly performance since March despite modest recovery

  

  During early European trading on Friday, the US dollar rebounded from sharp losses in the previous session, as traders sought safe-haven assets following weak Chinese inflation data. Despite showing resilience against its major currency counterparts, the currency’s gains were presently limited, with modest daily gains near 103.50 after suffering its …

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