Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 12 July 2023 12:43 am

  WTI up on China-linked sentiment as correction eyed

  

  On the day, WTI crude oil is up due to mood related to China. Intense resistance is being tested by WTI. The dynamic trendline support is being watched for bears, who are lurking. The largest oil and gas producer in China, China’s National Petroleum Corp. (CNPC), reduced its prediction for …

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• 11 July 2023 10:55 pm

  US CPI expected to record lower reading for June

  

  The US Consumer Price Index statistics, the most significant indicator of inflation, will be released by the US Bureau of Labour Statistics on July 12 at 12:30 GMT. Here are the predictions made by the economists and analysts of 12 major banks regarding the impending United States inflation print for …

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• 11 July 2023 9:53 pm

  US stocks rise ahead CPI data

  

  Investors were optimistic that a slowdown in price increases would support an earlier than anticipated conclusion to the Federal Reserve’s programme of fast monetary tightening, which is why the Dow and S&P 500 increased on Tuesday ahead of inflation data. Consumer prices are anticipated to have decreased on an annual …

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• 11 July 2023 8:42 pm

  How could CPI data help gold prices?

  

  Economists are busy analyzing gold price expectations ahead of the US Consumer Price Index (CPI) report. Gold prices are finding a footing with CPI data that is awaited on Wednesday, and on that note, markets do expect to witness a below consensus CPI print, which could help the precious metal …

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• 11 July 2023 7:24 pm

  Canada’s dollar looks cautious ahead of BoC meeting

  

  The USD/CAD pair is trading at 1.3266 at the time of writing. Canada’s dollar remains cautious ahead of the Bank of Canada’s (BoC) interest rate decision on Wednesday. Core inflation has fallen significantly in Canada, while it remains stubbornly high in the US, making USD/CAD bullish. The technical picture is …

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• 11 July 2023 4:09 pm

  OPEC Secretary General: We expect global energy demand to rise by 23% until 2045

  

  Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said during an oil and gas conference in Nigeria that global energy demand is expected to rise by 23% until 2045. He added, “The global demand for energy is expected to increase by a significant rate of 23% …

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• 11 July 2023 3:02 pm

  Dollar falls to its lowest level in two months and pound rises

  

  The dollar fell to a two-month low on Tuesday after Federal Reserve officials signaled the tightening cycle was coming to an end, while sterling rose to a 15-month high after more-than-expected wage growth in Britain. Several Federal Reserve officials said on Monday that the bank would likely need to raise …

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• 11 July 2023 1:18 pm

  Inflation in Germany changes direction and rises in June

  

  Inflation rose in Germany in June, snapping a steady decline since the beginning of the year. Data from the Federal Statistical Office on Tuesday showed consumer prices, harmonized to facilitate comparison with other countries in the European Union, rose 6.8 percent year-on-year in June. Core inflation, which strips out volatile …

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• 11 July 2023 11:57 am

  Nikkei gives up most of its gains after profit-taking

  

  Japan’s Nikkei index rose slightly at the close on Tuesday, snapping losses for five consecutive sessions, but gave up most of its early gains as investors sold shares to take profits. The Nikkei index rose 0.04 percent to 32,203.57 points at the close, while the broader Topix index reversed its …

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• 11 July 2023 11:09 am

  Threads overtakes ChatGPT as the world’s fastest-growing app

  

  New Meta app Threads dethrones OpenAI’s ChatGPT and becomes the world’s fastest growing app in terms of users. Since Threads launched less than a week ago, the Instagram-related app has seen huge growth in users, until it surpassed 100 million subscribers on Monday. Mark Zuckerberg, head of Meta, confirmed that …

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• 11 July 2023 9:42 am

  Türkiye gives the green light to Sweden’s bid to join NATO

  

  Turkish President Recep Tayyip Erdogan agreed on Monday to send Sweden’s request to join NATO to parliament, in a move that appears to end months of debate over the issue that has affected the military alliance while the war in Ukraine drags on. Sweden and Finland applied for NATO membership …

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• 11 July 2023 8:48 am

  Oil rises on the back of OPEC+ cuts and traders focus on economic data

  

  Oil prices rose on Tuesday, recouping some of the previous session’s losses, with traders focusing on Saudi Arabia and Russia cutting production and anticipating economic data that may help ascertain the demand for crude. Brent crude futures rose 33 cents, or 0.4 percent, to $78 a barrel by 0050 GMT, …

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• 11 July 2023 2:47 am

  Market Drivers – US Session – 10/07/2023

  

  After a cautious opening due to inflation data from China that suggested weaker demand, Wall Street closed in the green. The Nasdaq increased by 0.18% while the Dow Jones increased by 0.62%. Less than 1% was lost in the price of crude oil, while gold finished level at $1,925 per …

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