Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 6 July 2023 2:07 pm

  OPEC Secretary General expects the organization’s market share to rise to 40% by 2040-2045

  

  Al-Arabiya channel quoted the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al-Ghais as saying on Thursday that he expects the organization’s market share to rise to 40 percent between 2040-2045. He added that this will happen “after a decrease in production from countries outside the OPEC …

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• 6 July 2023 1:11 pm

  European stocks fall under the weight of the Fed’s tendency to tighten and US-Chinese tension

  

  European stocks fell nearly 1 percent on Thursday, as growing fears of an economic slowdown and further hikes in global interest rates dented risk appetite, along with the impact of an escalating trade battle between China and the United States. The European Stoxx 600 index fell 0.8% by 0717 GMT, …

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• 6 July 2023 12:09 pm

  Nikkei closes at its lowest level in more than a week as Socionext shares plunged

  

  Japan’s Nikkei average closed Thursday at its lowest level in more than a week, dragged down by shares of chip-related companies, with Socionext falling to a daily low after its largest shareholders sold their entire stake in the fast-growing chip design company. The Nikkei fell 1.7 percent to close at …

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• 6 July 2023 11:20 am

  Gold stabilizes as investors await US economic data

  

  Gold settled Thursday, July 6, as investors await a set of US economic data that may affect the course of the US Federal Reserve’s monetary policy, after publishing the minutes of its June meeting, which supported expectations of raising interest rates for a longer period. By 0241 GMT, gold settled …

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• 6 July 2023 4:03 am

  Binance’s regulatory hardship in Australia drags BNB price lower

  

  Binance native token BNB fell to $241. Binance’s now-defunct local derivatives business is undergoing a probe led by Australia’s financial markets regulator. In April, Binance applied for cancellation of its derivatives business license and continued operations of the spot exchange. The Australian financial regulator has searched Binance’s offices in the …

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• 6 July 2023 3:52 am

  Market Drivers – US Session – 05/07/2023

  

  US markets moderately retreated on the back of tensions between China and the US, as well as following reports of softer economic activity. The Chinese Caixin Services dropped more than expected, and Japanese, Australian, and Eurozone PMIs were revised lower. Additionally, US Factory Orders rose below expectations.Economic DataUS data showed …

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• 6 July 2023 1:37 am

  US Dollar enjoys firmer stance on hawkish Fed bets as China eyed

  

  The US Dollar Index teeters around weekly top after rising in the last three consecutive days. FOMC Minutes confirm July rate hike even as softer US data exists.Traders seek solace in US Dollar as yields portray recession fears, China-linked headlines appear grim. US ISM Services PMI, ADP Employment Change eyed, …

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• 6 July 2023 12:28 am

  WTI runs out of steam near $72.00 as markets await further key data

  

  The WTI crude oil clings to mild gains around two-week high, up for the third consecutive day. Clear break of six-week-old falling resistance line, weekly bullish channel keep Oil buyers hopeful.Overbought RSI as well as cautious mood prevail across oil markets ahead of key US data. WTI crude oil sellers …

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• 5 July 2023 11:05 pm

  Wall Street slips amid China woes post FOMC minutes

  

  US stocks edged lower as traders return from the Independence Day holiday to monitor headwinds for the global economy and after the release of Fed’s minutes for June monetary policy meeting.The S&P 500 was down 0.1%, while the Dow Jones Industrial Average slipped by around 0.3% or about 100 points. …

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• 5 July 2023 10:00 pm

  US dollar benefits from FOMC minutes

  

  The US central bank released the minutes from its June 13-14 meeting. The minutes showed some policymakers favored a rate hike, but went with a pause. The US Dollar pulls back modestly after the minutes.The US Dollar strengthened after the minutes. The DXY printed fresh weekly highs above 103.30 and …

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• 5 July 2023 9:41 pm

  US equities retreat ahead of Fed minutes

  

  Prior to the release of the Federal Reserve’s minutes from its June meeting, Wall Street’s major indexes declined on Wednesday as dismal economic data from the US and China as well as escalating Sino-US tensions dampened market mood. According to a Commerce Department study, US industrial orders for May 2023 …

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• 5 July 2023 8:47 pm

  Bitcoin price maneuvering, confusing short-term traders

  

  Bitcoin price shows a massive drop in volatility as it consolidates around the $30,000 psychological level. A potential distribution pattern is brewing and could trigger an 8.66% pullback. Bitcoin price has been trading in a tight range for nearly two weeks now with no signs of resolution. But a closer …

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• 5 July 2023 7:36 pm

  Gold sharply reverses from weekly highs ahead of FOMC minutes

  

  Gold is suffering from a volatile session for metals as the US dollar performs steadily. After spiking to the highest level since June 23, XAU/USD turned to the downside. Gold is losing momentum, and the reversal could expose $1,900. At the time of writing, the precious metal is trading at …

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