Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 10 May 2023 11:48 pm

  Gold rebounds after trading lower on profit taking

  

  Gold prices edged lower on Wednesday as optimism over the Federal Reserve cutting interest rates faded after the US inflation report. Spot gold was down 0.2% at $2,030.70 per ounce before rebounding to $2,031.48 at the time of writing. US gold futures settled 0.3% lower at $2,037.10. Gold rose as …

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• 10 May 2023 10:05 pm

  Explainer: Wall Street’s calm is byproduct of debt ceiling woes

  

  Wall Street has identified its own X-date in late May, and if there is no major movement in Congress by then, it is expected that some major market volatility is looming. The US government is running out of money, and if Congress doesn’t act to raise or suspend its self-imposed …

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• 10 May 2023 8:33 pm

  Has Wednesday’s CPI data brought about any surprises?

  

  The CPI figure for April mostly matched expectations. The 0.4% increase in both the headline and core CPI indicated a gradual rather than a fast improvement in the inflation environment. An increase in petrol prices in April was partially offset by falling grocery store prices and energy service costs, and …

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• 10 May 2023 7:21 pm

  Sterling soars to fresh highs after US Inflation data

  

  Sterling soars to fresh highs after US Inflation data The Pound Sterling (GBP) has risen sharply versus the US Dollar (USD) after the release of US Consumer Price Index (CPI) data for April. This data has given the broader long-term GBP/USD uptrend impetus to extend. The Pound Sterling (GBP) rallies …

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• 10 May 2023 4:11 pm

  BoE Preview: to continue to hike in 25 bps steps

  

  The Bank of England (BoE) will release its monetary policy decision on Thursday at 11:00 GMT. Along with the decision, the meeting minutes and the Monetary Policy Report will be made public. Following the announcement, Governor Andrew Bailey of the Bank of England will attend a news conference at 11:30 …

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• 10 May 2023 2:56 pm

  Futures lower as focus shifts to inflation data

  

  US stock index futures fell on Wednesday as investors anticipated a crucial inflation data to determine if the Federal Reserve was effective in bringing down increasing costs. The Consumer Price Index (CPI) is predicted to have increased 0.4% last month after increasing 0.1% in March, while the so-called core CPI …

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• 10 May 2023 12:40 pm

  Turkish industrial output rose 5.5% in March

  

  Official Turkish data showed on Wednesday that the country’s industrial output jumped 5.5 percent in March on a seasonally adjusted basis and in light of calendar factors from the previous month, a month after devastating earthquakes hit the south of the country. The Turkish Statistical Institute said output fell 0.1 …

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• 10 May 2023 12:13 pm

  A slight rise in European stocks ahead of US inflation data

  

  European stocks rose slightly on Wednesday, with Credit Agricole stock rising after posting positive earnings, while investors awaited US inflation data that is likely to set expectations for a rate cut in the world’s largest economy. The pan-European Stoxx 600 index was up 0.1% by 0704 GMT. The US consumer …

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• 10 May 2023 11:40 am

  Japan’s Nikkei index is retreating from a 16-month peak amid profit-taking

  

  Japan’s Nikkei index retreated from a 16-month peak on Wednesday as cautious investors looked to book profits ahead of key US inflation data that could influence the Federal Reserve’s path on monetary policy. The results of the business of some companies also cast a shadow on their performance, as the …

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• 10 May 2023 11:11 am

  German CPI rose 7.6% y/y in April

  

  Germany’s federal statistics office said on Wednesday that the consumer price index rose 7.6 percent year-on-year in April, confirming earlier preliminary data. The bureau added that the index rose 0.6 percent compared to March.

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• 10 May 2023 3:23 am

  

  Market Drivers – US Session – Mon. 09/05/2023 The US dollar rose against its main rivals, with the US Dollar Index (DXY) rising by 0.25% and posting gains for the second day in a row. However, the index still remains near the key support level of 101.00. Wall Street dropped …

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• 10 May 2023 2:16 am

  Airbnb drops 10% after earnings report offers cautious Q2 outlook

  

  Shares of Airbnb fell in extended trading Tuesday after the company released first-quarter earnings that beat analyst estimates but offered slightly weaker-than-expected guidance and a cautious outlook for the current quarter.Airbnb swung to a net profit of $117 million from a net loss of $19 million during the year-earlier period, …

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• 10 May 2023 1:04 am

  S&P500 Futures, yields depict cautious optimism despite US default woes

  

  Market sentiment remains divided as debt-ceiling talks fails ahead of the US inflation report. The S&P500 Futures print mild gains, US 10-year Treasury bond yields snap four-day winning streak. Updates about US default, banking fallouts can entertain traders ahead of US CPI for April. Risk profile stays sluggish during early …

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