Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 1 June 2023 10:14 pm

  Fed’s Bullard: Prospects for continued disinflation are good but continued vigilance is required

  

  Federal Reserve Bank of St. Louis President James Bullard recently published an analysis titled ‘Is Monetary Policy Sufficiently Restrictive?’ in which he compares the policy rate under the Taylor rule to the Fed’s policy rate. According to Bullard, “monetary policy is now in better shape after the rate hikes.” Bullard’s …

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• 1 June 2023 9:01 pm

  EUR/USD surges on dovish Fed comments, weak US data

  

  The EUR/USD reaches 1.0746, surging over 0.50% from its opening price, following a weekly low of 1.0635. Weakening US manufacturing activity, as indicated by the ISM Manufacturing PMI falling to 46.9 in May, fuels speculation of a Fed pause on tightening.Mixed employment data shows private hiring surging but falling short …

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• 1 June 2023 7:53 pm

  NFP data expectations by key bank experts

  

  Experts from a number of key banks do expect labour market to lose momentum only slowly. On Friday, the US Bureau of Labour Statistics will release the May jobs report and as markets get closer to the release time, here are the forecasts by the economists and researchers of 10 …

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• 1 June 2023 4:02 pm

  Sterling strengthens against dollar as chances of Fed ‘skip’ rise

  

  The pound rose on Thursday, benefiting from a drop in the dollar as Federal Reserve members said the central bank would forego a rate hike this month, while UK statistics portrayed a picture of an increasingly bleak economy. According to Bank of England (BoE) data, British lenders authorised fewer mortgages …

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• 1 June 2023 2:59 pm

  Lagarde: ECB will need to continue hiking cycle

  

  To help control stubbornly high inflation, the European Central Bank will need to extend its cycle of interest rate hikes, according to ECB President Christine Lagarde on Thursday. Lagarde said in a speech in Germany that the bank must continue to raise borrowing costs to “sufficiently restrictive levels,” citing a …

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• 1 June 2023 2:19 pm

  Eurozone inflation tumbles, fuelling ECB rates debate

  

  Eurozone inflation fell more than expected this month, as underlying price growth stalled, fueling speculation about the need for more European Central Bank rate hikes beyond the one scheduled for later this month. In May, inflation in the eurozone’s 20 member countries fell to 6.1% from 7.0% in April, falling …

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• 1 June 2023 12:39 pm

  Dollar is falling amid the possibility that the Fed will stop raising interest rates

  

  The dollar fell from its highest level in two months on Thursday, as investors scaled back their expectations that the Federal Reserve will raise interest rates this month, but the House of Representatives vote to approve the suspension of the debt ceiling provided some support for the US currency. A …

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• 1 June 2023 11:50 am

  Japan stocks closed higher amid optimism about the US debt ceiling agreement

  

  Japan’s Nikkei index closed higher on Thursday, amid investors buying stocks after losses recorded in the previous session and amid optimism after the US House of Representatives approved the debt ceiling bill that will avoid the country from default. The Nikkei index rose 0.84 percent to close at 31,148.01 points, …

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• 1 June 2023 2:08 am

  

  Market Drivers – US Session – 31/05/2023 The cautious sentiments across financial markets heavily weighed on Wall Street indexes that lost ground again on Wednesday. Equity prices finished off their lows. The rebound in stocks weighed on the US dollar, which was also affected by comments from Fed officials that …

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• 1 June 2023 1:59 am

  Gold reclaims $1960s on US debt ceiling hopes, lower US bond yields

  

  Gold price stays above the $1960 mark, it is trading at $1962.09 at the time of writing, even preparing for over 1.3% monthly losses in May. Expectations of resolving the US debt ceiling issue spark a dip in US Treasury bond yields, offering a lift to the Gold Index. Dovish …

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• 1 June 2023 12:34 am

  Following German data, EUR/GBP falls below 0.8600

  

  On Wednesday, the Euro lost ground against its key competitors. Spain and Germany both posted inflation rates that fell short of market expectations. The 10-year yield on German bonds decreases and reaches weekly lows. After inflation data from Germany and Spain came in below the market consensus on Wednesday, the …

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May, 2023

• 31 May 2023 11:56 pm

  Republican leader anticipates debt ceiling bill passing

  

  US Senate Republican Leader Mitch McConnell is helping to steer crucial legislation to raise the debt ceiling past Senate conservatives but he says “We anticipate debt ceiling bill passing,” and claims that the bill is expected to come to the Senate as soon as Thursday.The US House of Representatives is …

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• 31 May 2023 10:46 pm

  Fed’s Beige Book: Economic activity was little changed overall in April, early May

  

  According to Federal Reserve’s Beige Book, “economic activity was little changed overall in April and early May”. The expectations for future growth deteriorated a little, “though contacts still largely expected a further expansion in activity.” “Employment increased in most Districts, though at a slower pace than in previous reports”, said …

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