Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 4 July 2023 11:12 am

  Japan’s Nikkei Index gives up a 33-year high on profit-taking

  

  Japan’s Nikkei fell on Tuesday, giving up a 33-year high recorded in the previous session, as investors took profits, and a market holiday in the United States also added to the caution of dealers. The Nikkei index closed down 0.98 percent at 33,422.52 points, after closing at 33,753.33 points on …

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• 4 July 2023 10:14 am

  Australia’s central bank holds interest at 4.1%, contrary to expectations

  

  The Australian Central Bank fixed interest rates in July at 4.1%, against expectations of a 25 basis point hike to 4.35% levels. In just two years, Australian interest rates jumped by 400 basis points, with inflation rising in the country and reaching in the fourth quarter of 2022 its highest …

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• 4 July 2023 9:25 am

  Oil stabilizes as the market is affected by production cuts

  

  Oil prices stabilized on Tuesday, as markets were hit by supply constraints due to planned cuts in August by top oil exporters Saudi Arabia and Russia, in the face of economic data that indicated weak demand for crude. Brent crude futures rose 22 cents, or 0.3 percent, to $74.87 a …

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• 4 July 2023 2:56 am

  Market Drivers – US Session – 03/07/2023

  

  On a quiet Monday’s trading session, US stocks finished modestly higher on a shortened session. On Tuesday, Wall Street will remain closed due to Independence Day. The low volume could lead to consolidation and/or erratic moves.Economic DataThe US dollar lost momentum on Monday following the release of the ISM Manufacturing …

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• 4 July 2023 2:46 am

  Crude oil slides on global economic slowdown concerns

  

  WTI crude oil is down 0.55% at $70 per barrel due to global economic slowdown concerns. Despite Saudi Arabia and Russia’s supply cut announcement, concerns over manufacturing activity slowdown worldwide continue to impact WTI prices. At the time of writing WTI is trading at $70.24 per barrel.China’s Caixin PMI expanded …

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• 4 July 2023 1:23 am

  Is Lower Inflation As Seen By Shoppers Good News For US Fed?

  

  The US economy is showing signs of resilience, with lower inflation seen by shoppers. However, the Federal Reserve’s target interest rate of 2% remains high, and consumers expect inflation to remain high over the coming months but fall in the years ahead to levels closer to those experienced before the …

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• 3 July 2023 11:51 pm

  GBP/USD steadies on US PMI as UK data retriggers recessionary woes

  

  The GBP/USD pair remains stable at 1.2690, despite the slowdown in US manufacturing activity. UK data shows slight improvement but remains in recessionary territory, raising economic concerns.The US Manufacturing PMI poll revealed that business activity is deteriorating further, with input prices slowing down, signaling inflation edges down amidst 500 basis …

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• 3 July 2023 10:53 pm

  Eurozone factory decline deepened in June

  

  In June, the eurozone’s factory decline got worse. According to a poll that portrayed an increasingly bleak picture for the industry, industrial activity in the Eurozone shrank more quickly than initially estimated in June as continued policy tightening by the European Central Bank strained finances.Surveys released earlier on Monday showed …

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• 3 July 2023 9:48 pm

  At which price level can 2023 leave Bitcoin?

  

  After it finally crossed the $30,000 psychological threshold, Bitcoin is currently looking at a strong resistance zone around $31,000, and if it manages to break it, a significant bull run could follow, and historical chart patterns suggest it might even reach $80,000 by the end of 2023. If Bitcoin fails …

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• 3 July 2023 8:45 pm

  US stocks manage little gains to start second half of 2023

  

  US stocks rose slightly Monday in a shortened session that kicked off the second half of what’s already been a stellar year on Wall Street. The Dow Jones Industrial Average added 10.87 points, or 0.03%, to finish at 34,418.47. The S&P 500 climbed 0.12% to end at 4,455.59, while the …

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• 3 July 2023 7:49 pm

  Gold climbs to one-week highs after US data

  

  Gold gains momentum after Monday’s US ISM Manufacturing. The Gold Index extends rebounds from monthly lows, tests $1,930 per ounce.US Dollar erases some of its earlier gains, US yields pullback from weekly highs. Following the release of weaker-than-expected US economic data, gold price jumped to $1,931, reaching the highest level …

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• 3 July 2023 4:09 pm

  Russia will cut oil supplies in August by 500 thousand barrels per day

  

  Russian Deputy Prime Minister Alexander Novak said Monday, July 3, that Russia will reduce its oil exports by 500,000 barrels per day in August. “As part of efforts to ensure that the oil market remains balanced, Russia will voluntarily reduce its oil supplies in August by 500,000 barrels per day …

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• 3 July 2023 2:57 pm

  Gold is losing some luster due to the strength of the dollar

  

  Gold prices fell on Monday as a stronger dollar reduced the precious metal’s safe-haven appeal and investors awaited non-farm payrolls data in the United States and minutes from the latest Federal Reserve meeting to be published later this week. Spot gold prices fell 0.4 percent to $1911.70 an ounce by …

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