Noor Trends News, Technical Analysis, Educational Tools and Recommendations
Gold prices peaked at $1,937 and then pulled back toward $1,920. Silver rose 1.50% and approached $23.00. Cryptocurrencies fell modestly, with Bitcoin holding above $30,000. No key data is expected during the Asian session. Later, on Tuesday, the US will report Durable Goods Orders and Canada will release inflation data. …
Read More »Market Analysis
June, 2023
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27 June 2023 1:56 am
While reacting to hawkishness, is gold still sensitive to geopolitical events?
The gold market is expected to end June down by around $47, its worst month since February. The precious metal is reacting to central banks doubling down on hawkish rhetoric and ignoring Russia’s turmoil. Some analysts see geopolitics playing a more significant role in driving the gold price. After a …
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26 June 2023 10:44 pm
Wall Street slides on uncertainty around rate hike outlook
On Monday, US stocks dipped a little bit as investors fretted about the effects of more interest rate hikes on the economy. The biggest losers were technology and megacap sectors.The markets’ response to the weekend’s foiled uprising by Russian mercenaries, which prompted doubts about President Vladimir Putin’s future and worries …
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26 June 2023 9:48 pm
Crude oil, NatGas prices surge after turmoil in Russia over weekend
Late in the North American session, US crude oil rises 0.50% as it ignores concerns about the global economy. In response to concerns about an imminent recession and political unrest in Russia, WTI, the US crude oil benchmark, recovers after two days of losses and increases by more than 0.50%. …
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26 June 2023 8:02 pm
EUR/USD awaits guidance from ECB Forum
The EUR/USD is struggles for fresh gains despite the weaker performance of the US dollar with the beginning of the new trading week. The pair is up 0.16% trading at 1.0909 at the time of writing. Meanwhile, geopolitical tensions around Russia have eased as market attention turns to the ECB …
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26 June 2023 7:05 pm
USD/CAD expected to head above 1.3
The Canadian dollar is quietly advancing to be the top G10 currency this month. Economists are keen to analyze USD/CAD outlook.Canada’s dollar generally tends to do well when Fed rates peak. The USD/CAD pair is trading at 1.3155 at the time of writing. While the outlook for Fed Funds is …
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26 June 2023 3:40 pm
Lower oil prices, ignoring the political turmoil in Russia
Oil prices fell on Monday after Russia’s private military group Wagner revolted at the weekend, although political instability did not appear to pose an immediate threat to oil supplies from one of the world’s top producers. And by 0900 GMT, Brent crude futures fell eight cents, or 0.1 percent, to …
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26 June 2023 2:12 pm
European stock markets open lower, with bank stocks falling
European stocks fell on Monday as a sharp decline in financial stocks offset gains in the energy sector due to concerns about political instability in Russia, a major oil producer. The pan-European STOXX 600 was down 0.3% by 0717 GMT, after posting its biggest weekly percentage loss in three months …
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26 June 2023 1:33 pm
Dollar is shaking as investors focus on interest rates and the economic outlook
The dollar fell on Monday before getting some safe-haven support as concerns persisted that the prolonged monetary tightening policy pursued by major central banks could further damage the global economic outlook. Recent events in Russia also kept investors on guard, but the reaction in the currency market was muted as …
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26 June 2023 12:14 pm
Gold is rising with the support of the dollar’s decline
Gold prices rose on Monday in early Asian transactions, supported by the decline in the US dollar, although the prospects for raising US interest rates again this year to curb inflation negatively affected the appetite for the precious metal. By 0051 GMT, gold in instant transactions increased 0.3 percent to …
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26 June 2023 11:30 am
Nikkei is down for the third consecutive session
Japan’s Nikkei fell for the third consecutive session on Monday, after spending the day swinging between small gains and losses. The Nikkei index closed down 0.25 percent at 32,698.81 points. The benchmark index had fallen by about 2.4 percent in the previous two sessions, after rising over several months to …
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26 June 2023 4:32 am
Financial Markets’ Weekly Recap: June 19-23
The euro fell on Friday after data indicating stagnation in the growth of business activities in the single currency area this month, while the dollar received support from risk aversion and statements indicating continued monetary tightening from global central banks, including the Federal Reserve (Central US). The dollar index, which …
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24 June 2023 3:25 am
Why do markets look forward to the ECB Forum in Sintra?
Another platter of worthy reports from significant economies and significant risk occurrences will be presented to investors next week. The European Central Bank’s three-day forum in Sintra, Portugal, which begins on Monday, will likely be the primary attraction. The forum will convene amid global sentiment that is still shaky as …
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