Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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 …

  Read More »
• 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% …

  Read More »
• 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 …

  Read More »
• 9 June 2023 2:57 pm

  Concerns about demand cap oil’s gains

  

  Oil prices rose on Friday and were broadly stable for the week as Saudi Arabia’s pledge to cut production helped calm concerns about demand growth. And by 0932 GMT, Brent crude futures rose 36 cents, or 0.5 percent, to $ 76.32 a barrel, and West Texas Intermediate crude rose 34 …

  Read More »
• 9 June 2023 2:08 pm

  Dollar is falling after the increase in US jobless claims

  

  The dollar fell on Friday, June 9, affected by the drop in US Treasury bond yields, after an increase in the number of weekly jobless claims in the United States raised hopes that US interest rates would reach their peak, with focus shifting to major central bank meetings to be …

  Read More »