Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 1 May 2023 11:07 am

  Gold fell amid the rise of the dollar and anticipation of the US Central Bank meeting

  

  Gold prices fell on Monday, weighed down by a stronger dollar, as investors cautiously await the Federal Reserve’s decision to raise interest rates later this week. By 0531 GMT, spot gold fell 0.5 percent to $1980.42 an ounce, and US gold futures fell 0.5 percent to $1989.10. The dollar index …

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• 1 May 2023 10:09 am

  Oil prices dip on U.S. rate hike expectations, weak China PMI

  

  Oil prices dipped on Monday as investors worried about the possibility of the Federal Reserve raising interest rates, which would impede growth and reduce gasoline demand, and concerns over lower Chinese manufacturing data combined to wipe out previous gains. Brent futures for July delivery were down 61 cents, or 0.8%, …

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• 1 May 2023 9:28 am

  Sony shares tumble on weaker-than-expected annual outlook

  

  Sony Group Corp’s shares fell as much as 4.8% on Monday after the Japanese electronics and entertainment conglomerate’s annual profit outlook fell short of market expectations. The company on Friday posted a record operating profit for the year ended March 2023, driven by a robust performance at its music and …

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• 1 May 2023 3:23 am

  Financial Markets’ Weekly Recap, April 24-28

  

  The euro fell on Friday after economic data painted a mixed picture on growth and inflation in the euro-zone, adding to uncertainty about the percentage by which the European Central Bank is expected to raise interest rates next week. Preliminary data showed gross domestic product in the euro zone grew …

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April, 2023

• 29 April 2023 2:22 am

  Market Drivers – US Session 28/04/2023

  

  A two-day rally on Wall Street began on Friday as a result of larger-than-expected results from the tech sector. Amid renewed worries about First Republic Bank and the gloomy outlook for global growth, the optimistic mood may, however, not last long. The incoming economic data will be eagerly watched, but …

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• 29 April 2023 2:08 am

  Oil price rallies ahead of the weekend

  

  As traders bet on a rebound following the most recent pullback, WTI oil was able to settle back above the $76 mark. The price of WTI crude oil has increased by +2.70% to $76.78. At $80.14, Brent crude has increased by +2.45%. As news of a lightning strike at the …

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• 28 April 2023 10:34 pm

  Dow records best gains since January following key earnings

  

  On Friday, Dow Jones rallied as it gets closer to record its best month since January. Blue-chip index prices rose by 187 points, or 0.6%. S&P 500 gains were similarly 0.6%. The latest round of technology earnings weighed on investors’ mood, resulting in somewhat moderate gains for the Nasdaq Composite, …

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• 28 April 2023 9:09 pm

  Gold steadies around $1990s following US data

  

  Gold price makes minor gains as stickier inflation prompts the Federal Reserve to tighten. Gold price registers minimal gains, as traders brace for the weekend, gains 0.16%% after data from the United States (US) showed that inflation remains at high levels, justifying the need for further tightening by the US …

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• 28 April 2023 7:36 pm

  What can Friday’s PCE data tell about US economy?

  

  The Personal Consumption Expenditures Price Index declined to 4.2% on a yearly basis in March from 5.1% in February, according to the US Bureau of Economic Analysis. The annual Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, edged lower to 4.6% from 4.7% in the same period, …

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• 28 April 2023 6:26 pm

  GBP/USD seeks momentum beyond 1.2500

  

  The GBP/USD pair turned positive for the third straight day and climbed to a two-week high on Friday. The US dollar retreats from a two-and-half-week-high touched this Friday in reaction to the softer US macro data, which is seen lending some support to the GBP/USD pair. The pair’s uptick, marking …

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• 28 April 2023 4:50 pm

  Germany’s economy slowed in the first quarter

  

  Data on Friday showed that the German economy slowed in the first quarter, as higher exports and capital investment offset a decline in government and household consumption. The Federal Statistics Office said the gross domestic product was unchanged on a quarterly basis. Analysts polled by Reuters had expected growth of …

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• 28 April 2023 2:44 pm

  Oil is heading to record the second monthly loss under on weak US data

  

  Oil prices are set to record another monthly decline on Friday after disappointing US economic data and uncertainty about an interest rate hike affected demand expectations. By 0946 GMT, Brent crude futures for June delivery were up 42 cents, or 0.5 percent, at $78.79 a barrel. These contracts expire on …

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• 28 April 2023 1:37 pm

  European stocks rise amid strong results

  

  European stocks rose on Friday, echoing overnight gains on Wall Street, supported by strong corporate earnings as investors awaited first-quarter GDP growth estimates in the euro zone to assess the strength of the region’s economies. The pan-European Stoxx 600 rose 0.3 percent, but was on track for its first weekly …

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