Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 16 June 2023 2:47 am

  Market Drivers – US Session – 15/06/2023

  

  The Bank of Japan’s decision about Friday’s Asian session will be the week’s final major event. The University of Michigan will publish its Consumer Sentiment survey in the US later in the day. Market players will continue to analyse the decisions made at the most recent central bank meetings on …

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• 16 June 2023 1:19 am

  Why is Yellen warning of decoupling from China?

  

  US Treasury Secretary Janet Yellen has warned any effort to decouple from China would be “disastrous”, saying national security measures targeted at Beijing were not designed to “stifle” the Chinese economy. Yellen also cautioned against the idea of decoupling with China, stating that such a move would be “a big …

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• 15 June 2023 11:31 pm

  Oil futures higher on strong Chinese data, softer dollar

  

  On Thursday, oil prices rose 3% to a one-week high as the US currency weakened and new data showed an increase in refinery operations in China, the world’s largest crude importer. By 1:00 p.m. EDT (1700 GMT), Brent futures were up $2.07, or 2.8%, to $75.27 per barrel and even …

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• 15 June 2023 9:47 pm

  Gold rebounds from three-month low on soft dollar

  

  The Gold Index climbed 0.86% in the trading, spurred on by a softer US Dollar and retreating US bond yields. Despite the Fed’s rate hike pause, US Treasury yields are retreating, signaling broad market skepticism over monetary tightening. US Retail Sales see an unexpected rise in May, bucking predictions, but …

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• 15 June 2023 8:39 pm

  Which cryptocurrencies challenge negative sentiment after Fed’s pause?

  

   Bitcoin, Ethereum prices dipped after the US Fed signaled additional interest-rate increases before the end of 2023. Uniswap, Algorand and Terra LUNA Classic price saw gains  amid a broad market decline. UNI’s release of v4 code, Algorand’s recent partnerships and Terra Classic’s release of v2.1.1 parity upgrade has acted as …

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• 15 June 2023 7:54 pm

  Improved risk appetite pushes GBP/USD higher after ECB hike

  

  The GBP/USD pair is rallying sharply in the North American session, propelled by an interest rate hike by the ECB and a pause on the side of the US Fed. Expectations that the Bank of England (BoE) could be the more hawkish central bank amongst G10 FX countries keep the …

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• 15 June 2023 3:54 pm

  Oil stability amid strong data for Chinese refineries and weak economic expectations

  

  Oil prices stabilized on Thursday after a sharp decline on Wednesday, as the market balanced between a jump in refinery production in China, the world’s largest crude importer, and a weak economic outlook there. Brent crude futures rose only three cents, or 0.04 percent, to $73.23 a barrel by 0903 …

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• 15 June 2023 2:33 pm

  Inflation in France fell to 5.1% last May

  

  The National Institute of Statistics and Economic Studies in France confirmed its preliminary estimate of the inflation rate in May, to stand at 5.1% on an annual basis, after it reached 5.9% in April, due to a slowdown in energy and food prices. Today, Thursday, the National Institute of Statistics …

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• 15 June 2023 1:59 pm

  European stocks fell ahead of the central bank meeting

  

  European stocks opened lower on Thursday amid expectations the European Central Bank will raise borrowing costs later in the day, following the Federal Reserve’s indication that it will approve further increases. The rise of H&M shares limited the losses somewhat, and lifted the shares of the retail sector after announcing …

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• 15 June 2023 12:50 pm

  Japan’s Nikkei gave up its gains and closed lower

  

  Japan’s Nikkei index gave up its gains and fell on Thursday, as investors took profits after big gains recorded by the index over four sessions. The Nikkei index fell 0.05% to 33,485.49 points at the close, although it rose most of the day and rose 0.8% to hit a 33-year …

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• 15 June 2023 12:08 pm

  Dollar climbs in Asia after hints from Fed for further interest rate hikes

  

  The dollar rose in Asian trade on Thursday after the Federal Reserve signaled an interest rate hike later in the year, while the currencies of China and New Zealand fell amid signs of slowing economies. Market attention is now turning to other central banks’ decisions late this week. The dollar …

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• 15 June 2023 7:14 am

  ECB Banks Preview: Forecast of 10 major banks

  

  The European Central Bank (ECB) is poised to publish its monetary policy decision on Thursday, June 15 at 12:15 GMT, and as the day approaches, here are the expectations as anticipated by 10 major banks’ economists and researchers. The ECB is widely expected to give another 25 basis point (bps) …

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• 15 June 2023 2:05 am

  Post US Rate Policy Pause Market Drivers, 14/06/2023

  

  Gold finished flat around $1,940, looking weak. Earlier, the yellow metal peaked at $1,960 but dropped after the FOMC rate decision. Silver rose 1% and finished slightly below $24.00. Cryptocurrencies tumbled late on Wednesday, with BTC/USD falling more than 3% and briefly to below the $25,000 level; namely the $24,927.80 …

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