Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 15 June 2023 9:47 pm

  Gold rebounds from three-month low on soft dollar

  

  The Gold Index climbed 0.86% in the trading, spurred on by a softer US Dollar and retreating US bond yields. Despite the Fed’s rate hike pause, US Treasury yields are retreating, signaling broad market skepticism over monetary tightening. US Retail Sales see an unexpected rise in May, bucking predictions, but …

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• 15 June 2023 8:39 pm

  Which cryptocurrencies challenge negative sentiment after Fed’s pause?

  

   Bitcoin, Ethereum prices dipped after the US Fed signaled additional interest-rate increases before the end of 2023. Uniswap, Algorand and Terra LUNA Classic price saw gains  amid a broad market decline. UNI’s release of v4 code, Algorand’s recent partnerships and Terra Classic’s release of v2.1.1 parity upgrade has acted as …

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• 15 June 2023 7:54 pm

  Improved risk appetite pushes GBP/USD higher after ECB hike

  

  The GBP/USD pair is rallying sharply in the North American session, propelled by an interest rate hike by the ECB and a pause on the side of the US Fed. Expectations that the Bank of England (BoE) could be the more hawkish central bank amongst G10 FX countries keep the …

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• 15 June 2023 3:54 pm

  Oil stability amid strong data for Chinese refineries and weak economic expectations

  

  Oil prices stabilized on Thursday after a sharp decline on Wednesday, as the market balanced between a jump in refinery production in China, the world’s largest crude importer, and a weak economic outlook there. Brent crude futures rose only three cents, or 0.04 percent, to $73.23 a barrel by 0903 …

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• 15 June 2023 2:33 pm

  Inflation in France fell to 5.1% last May

  

  The National Institute of Statistics and Economic Studies in France confirmed its preliminary estimate of the inflation rate in May, to stand at 5.1% on an annual basis, after it reached 5.9% in April, due to a slowdown in energy and food prices. Today, Thursday, the National Institute of Statistics …

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• 15 June 2023 1:59 pm

  European stocks fell ahead of the central bank meeting

  

  European stocks opened lower on Thursday amid expectations the European Central Bank will raise borrowing costs later in the day, following the Federal Reserve’s indication that it will approve further increases. The rise of H&M shares limited the losses somewhat, and lifted the shares of the retail sector after announcing …

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• 15 June 2023 12:50 pm

  Japan’s Nikkei gave up its gains and closed lower

  

  Japan’s Nikkei index gave up its gains and fell on Thursday, as investors took profits after big gains recorded by the index over four sessions. The Nikkei index fell 0.05% to 33,485.49 points at the close, although it rose most of the day and rose 0.8% to hit a 33-year …

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• 15 June 2023 12:08 pm

  Dollar climbs in Asia after hints from Fed for further interest rate hikes

  

  The dollar rose in Asian trade on Thursday after the Federal Reserve signaled an interest rate hike later in the year, while the currencies of China and New Zealand fell amid signs of slowing economies. Market attention is now turning to other central banks’ decisions late this week. The dollar …

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• 15 June 2023 7:14 am

  ECB Banks Preview: Forecast of 10 major banks

  

  The European Central Bank (ECB) is poised to publish its monetary policy decision on Thursday, June 15 at 12:15 GMT, and as the day approaches, here are the expectations as anticipated by 10 major banks’ economists and researchers. The ECB is widely expected to give another 25 basis point (bps) …

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• 15 June 2023 2:05 am

  Post US Rate Policy Pause Market Drivers, 14/06/2023

  

  Gold finished flat around $1,940, looking weak. Earlier, the yellow metal peaked at $1,960 but dropped after the FOMC rate decision. Silver rose 1% and finished slightly below $24.00. Cryptocurrencies tumbled late on Wednesday, with BTC/USD falling more than 3% and briefly to below the $25,000 level; namely the $24,927.80 …

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• 15 June 2023 1:52 am

  WTI dropped post-FOMC decision

  

  WTI crude oil is trading at $68.80 per barrel at the time of writing. It retreated by -0.82% during the US session on Wednesday, breaking key support structure on the downside as a pause in US interest rate hikes accompanied a bearish forecast for more hikes on the way. This …

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• 15 June 2023 12:07 am

  How has Fed’s Powell explained decision to leave policy rate steady in June?

  

  Federal Reserve Chair Jerome Powell held the customary news conference after rate policy decision to explain why Fed policymakers have decided to leave the policy rate, federal funds rate, unchanged at the range of 5-5.25% at June FOMC meeting. With the immediate reaction, the US dollar gathered strength against its …

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• 14 June 2023 10:49 pm

  Powell: Fed projections are not a plan or decision

  

  FOMC Chairman Jerome Powell is commenting on the policy outlook after the Federal Reserve’s decision to leave the policy rate unchanged at 5-5.25% following the June policy meeting.Key Quotes“At this meeting, considering how far and fast we have moved, judged it prudent to hold rates steady.”“Fed projections are not a …

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