Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 30 June 2023 3:06 pm

  The UK economy grows 0.1% in Q1

  

  Britain’s National Bureau of Statistics data showed on Friday that the British economy grew by 0.1 percent in the first quarter of this year, unchanged from preliminary estimates published last month. The office said that the British gross domestic product in the first quarter of this year was 0.5 percent …

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• 30 June 2023 2:05 pm

  British Prime Minister: The Environment Minister was asked to apologize, so he decided to resign

  

  British Prime Minister Rishi Sunak said on Friday that Environment Minister Zac Goldsmith had been asked to apologize for criticizing a parliamentary committee, but had decided to resign instead. Goldsmith was reprimanded on Thursday by a parliamentary committee that has been critical of the conduct of a group of allies …

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• 30 June 2023 1:33 pm

  Germany’s unemployment rate rises more than expected in June

  

  Data from Germany’s Federal Labor Office showed on Friday that the country’s unemployment rate rose more-than-expected in June. The office said that the number of unemployed increased by 28 thousand people in light of seasonal adjustments to reach 2.61 million people. Analysts polled by Reuters had expected an increase of …

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• 30 June 2023 12:39 pm

  European stocks rise, supported by hopes of economic stimulus in China

  

  European stocks rose on Friday after weak factory activity data in China boosted hopes for more stimulus policies, while investors awaited key inflation data to look for other clues about the direction of global interest rates. The pan-European Stoxx 600 index was up 0.3 percent by 0703 GMT. The index …

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• 30 June 2023 11:53 am

  Nikkei drops ahead of earnings season

  

  The Japanese Nikkei index trimmed its losses to close lower on Friday and stop rising before the season of companies announcing their earnings, but it achieved gains for the sixth month in a row as a result of investors’ appetite to buy falling stocks. The Nikkei fell 0.14% to 33,189.04 …

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• 30 June 2023 10:21 am

  Oil is heading to record its first monthly increase this year with declining supplies

  

  Oil prices rose on Friday, and Brent crude is heading for its first monthly increase this year, as a significant decline in US crude oil inventories erased fears that fuel demand would be affected by any new increase in interest rates. Brent crude futures for September delivery were up 16 …

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• 30 June 2023 9:46 am

  Gold is near its lowest level in about 4 months, after Powell hinted to raise interest rates

  

  Gold settled near its lowest level in four months on Friday, as investors awaited important US inflation data later on Friday, after a group of strong data and statements in favor of monetary tightening from Federal Reserve officials increased bets on raising interest again. And gold settled in the spot …

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• 30 June 2023 4:21 am

  Market Drivers – US Session – 29/06/2023

  

  USD/CAD registered minuscule losses on Thursday in a session that witnessed the US Dollar as the strongest currency, which rose on better-than-expected US economic data which failed to boost the USD/CAD. The USD/CAD is trading at 1.3249 after hitting a high of 1.3285. Despite late Thursday’s corrective rally from multi-day …

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• 30 June 2023 2:45 am

  Dollar Index Surges On upbeat US data

  

  In reaction to the soaring US Treasury bond yields and expectations of Fed tightening, the US Dollar Index rises by 0.37%. EMAs are below the current values in DXY’s consolidation, and the RSI has crossed the neutral line, signalling positive momentum. DXY aims for resistance at the 200-day EMA at …

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• 30 June 2023 12:58 am

  Treasury Yields Surge As Traders Favour More Fed’s Hikes

  

  As speculators favoured two more looming Fed rate hikes, US Treasury rates soared on Thursday, reaching their highest levels since March. Trading participants bet that the Fed will increase rates twice more this year as a result of strong economic growth data.The two-year rate increased by as much as 18 …

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• 30 June 2023 12:50 am

  Fed’s Bostic: Inflation has fallen

  

  Atlanta Federal Reserve Bank President Raphael Bostic, who supports standing pat on the Fed’s policy rate, on Thursday said it is clear US inflation has fallen, though in recent months the signals have been less clear.“I think it’s unambiguous that inflation has fallen considerably,” Bostic said at a dinner in …

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• 29 June 2023 11:25 pm

  Gold resilient despite Fed’s rate hike expectation, solid US data

  

  Despite growing speculations about the Fed raising interest rates in the future, the price of gold is rising back above $1900. The precious metal is trading at 1906.70 at the time of typing. Strong growth is highlighted by the US economic data, which has caused the Gold Index to test …

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• 29 June 2023 9:39 pm

  Crude oil loses momentum on stronger dollar

  

  The WTI crude oil price failed to surpass the 20-day Simple Moving Average (SMA) at $70.29 and stabilized at $69.75. The price was rejected at the SMA, currently positioned at $70.36, and retreated to $69.75 due to weak housing data from the US. The US Bureau of Economic Analysis released …

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