Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 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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• 10 May 2023 12:07 am

  WTI defends four-day winning streak ahead of US inflation data

  

  WTI bulls take a breather after four-day uptrend, sidelined of late. US SPI refill concerns, geopolitical woes join sluggish US Dollar to favor Oil buyers. Mixed sentiment, recession fears and US debt-ceiling jitters weigh on commodity price.WTI crude oil remains static around mid-$73.00s amid the early hours of Wednesday’s Asian …

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• 9 May 2023 11:04 pm

  Biden, McCarthy divided over debt ceiling but talks continue

  

  US President Joe Biden and top lawmakers failed to break a deadlock on Tuesday in face-to-face talks over raising the $31.4 trillion US debt limit but vowed to meet again with just three weeks before the country may be forced into an unprecedented default.Biden called the meeting “productive” and reported …

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• 9 May 2023 9:55 pm

  Gold climbs amid US debt ceiling woes, declining T-yields

  

  The Gold Index XAU/USD rallies on Tuesday, benefiting from concerns over the US debt ceiling and slowing Chinese manufacturing activity.Falling US Treasury bond yields support gold prices despite strong US Dollar. Eyes are focused the upcoming US CPI data, which has the potential to impact gold prices. Gold price is …

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• 9 May 2023 8:43 pm

  Sterling trades back above 1.2600 ahead of BoE’s decision

  

  The British pound drops to around the 1.26 handle ahead of key macroeconomic events for the week.  The Pound Sterling is likely to be impacted by the Bank of England meeting on “Super Thursday”. The US Dollar will look for impetus from the US Consumer Price Index data for April …

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• 9 May 2023 7:36 pm

  US dollar rebounds amid sour market sentiment

  

  US Dollar manages to stay resilient against its major rivals on Tuesday. US Dollar Index clings to modest daily gains following Monday’s rebound. April inflation data from the US could trigger the next big reaction in USD.The US Dollar shook off the selling pressure at the beginning of the week …

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• 9 May 2023 4:55 pm

  Gold is rising as investors await US inflation data

  

  Gold prices rose on Tuesday as investors awaited US inflation data in search of indications of the monetary policy path of the Federal Reserve (US Central Bank) in light of continued economic uncertainty. By 1021 GMT, spot gold rose 0.5 percent to $2,030.43 an ounce, and US gold futures rose …

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• 9 May 2023 2:58 pm

  Sterling is hovering at a one-year high as traders await the BoE’s decision.

  

  The Bank of England is expected to raise interest rates by 25 basis points this week, according to traders. The market is also anticipating significant US inflation numbers on Wednesday, which will give additional insight into the world’s largest economy’s fight against inflation. On Tuesday, sterling fell against the US …

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• 9 May 2023 1:20 pm

  Gold is locked in a narrow range as investors await US inflation data

  

  Gold prices moved in a narrow range on Tuesday ahead of US inflation data, which investors are looking for clues to the Federal Reserve’s policy path. Spot gold remained unchanged at $2,023.41 an ounce, and by 0232 GMT, US gold futures were down 0.2 percent, at $2,030.10. US consumer price …

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• 9 May 2023 12:33 pm

  European stocks declined with the decline in the Swedish SBB stock

  

  European stocks fell on Tuesday, with Sweden’s SBB leading the losers after the company postponed its dividend, while investors remained wary ahead of important US economic data. The pan-European STOXX 600 index was down 0.2% by 0706 GMT, as investors awaited US consumer price data later this week for clues …

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• 9 May 2023 12:00 pm

  Japan stocks jump supported by strong corporate results

  

  Japanese stocks rose on Tuesday, with the Nikkei index recording its highest closing level in 16 months, supported by a rise in steelmakers’ stocks on the back of strong corporate earnings. JFE Holdings jumped 14.5 percent, its biggest gain in 14 years, after Japan’s second-biggest steelmaker expected profits to rise …

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• 9 May 2023 10:57 am

  Dollar is rising and the pound is near its highest level in a year

  

  The dollar rose on Tuesday after a survey showed that credit conditions in the United States were less bleak than expected, while the pound sterling flirted with its highest levels in a year amid expectations that the Bank of England (central) will raise interest rates this week. Currencies were little …

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• 9 May 2023 1:59 am

  Market Drivers – US Session – Mon. 08/05/2023

  

  The start of the week on Wall Street was uneven. Participants in the market are analysing the events of the previous week, including central bank meetings and US labour market data. There were no significant shocks in the Federal Reserve bank survey as worries about banking continue to decrease, bolstering …

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