Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 13 June 2023 1:43 am

  Global economic concerns, pessimistic outlook drag WTI lower

  

  WTI crude oil prices have been affected by global economic concerns and a pessimistic outlook. Goldman Sachs has revised its forecast for WTI crude oil from $89 a barrel to $81 by the end of the year due to expectations of increased oil supplies from Russia and Iran. This downward …

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• 13 June 2023 12:23 am

  Why has GBP/USD dipped from five-week high?

  

  Surging US bond yields constitute one factor why the GBP/USD pair retreated from five-week high. The pair is also eyeing key US and UK economic data releases on Tuesday. This retreat comes after failing to breach 1.2600, so the pair is now trading at 1.2512 amid climbing US Treasury bond …

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• 12 June 2023 11:02 pm

  Gold price awaits key US data, FOMC decision

  

  In early US trading Monday, gold prices were slightly higher while silver prices were slightly lower. August gold was last up $1.90 at $1,979.10 and July silver was down $0.065 at $24.345. The marketplace is quieter just ahead of the FOMC monetary policy meeting and key CPI data and gold …

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• 12 June 2023 9:52 pm

  Bitcoin Closely Watching CPI Data, Looming FOMC Decision

  

  Bitcoin prices dipped over the weekend amid an altcoin selloff but have since rebounded. The BTC/USD pair is up 1.55% and other cryptocurrencies edged higher on Monday, with digital assets primed to react to key macroeconomic forces in the coming days with the awaited US CPI inflation data and the …

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• 12 June 2023 7:41 pm

  EUR/USD oscillates as investors await interest rate policy twists

  

  The US dollar strengthens, yet Euro holds firm, with the EUR/USD pair at 1.0746 amid policy shifts anticipation. Anticipated Fed’s skip and hike could reshape US-EU interest rate dynamics, potentially favouring Euro.Possible US economic downturn might trigger ‘dollar smile’ as markets eye key economic indices. The EUR/USD pares some of …

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• 12 June 2023 5:33 pm

  A pivotal week in global monetary policy is coming

  

  Investors will be following the outcomes of monetary policy meetings in the United States, the European Union, and Japan this week, from Wednesday to Friday. Uncertainty over the trajectory of interest rates has recently been common as persistent inflation maintains firm in some places and begins to surrender in others. …

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• 12 June 2023 2:55 pm

  Oil fell amid anticipation of the US interest rate decision

  

  Oil prices fell by $2 on Monday ahead of a Federal Reserve meeting as investors try to figure out the bank’s direction with regard to raising interest rates, while concerns about growing fuel demand in China and rising Russian crude supplies weighed on the market. Brent crude futures fell $1.91, …

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• 12 June 2023 1:50 pm

  European stocks open higher

  

  European stocks opened higher Monday, June 12, at the start of a week full of important central bank meetings on monetary policies, and shares of the Swiss drug company Novartis rose after it agreed to buy the US-based Chinook. The pan-European Stoxx 600 index rose 0.3%. The Federal Reserve, European …

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• 12 June 2023 1:13 pm

  Turkish lira is falling to a new record level

  

  The Turkish lira fell to a new record low on Monday as investors awaited clues about monetary policy moves after the appointment of a new central bank chief who is expected to raise interest rates. The lira fell 1.3 percent at 23.65 against the dollar at 0834 GMT, after hitting …

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• 12 June 2023 12:22 pm

  Turkey’s current account deficit rose to $5.4 billion in April

  

  The Turkish Central Bank said Monday, June 12, that the country’s current account deficit rose to $5.404 billion in April, which exceeds Reuters expectations, which predicted the deficit would reach $4.5 billion. In March, the Turkish current account deficit recorded 4.903 billion dollars. As for the entire year 2022, the …

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• 12 June 2023 12:05 pm

  Gold shines with the decline of dollar

  

  Gold prices rose sharply in the midday US trading session on Thursday due to the lower US dollar index and declining Treasury yields. August gold futures were last up $24.60 at $1,983.00 and July silver was up $0.796 at $24.325. Gold continues to move sideways, and we await pending orders …

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• 12 June 2023 11:09 am

  Financial Markets’ Weekly Recap, Jun 5-9

  

  Following a surprise 25 basis point (bps) rate hike in May, the Reserve Bank of Australia (RBA) board members opted to raise the Official Cash Rate (OCR) by another 25 basis points (bps) to 4.10% at its June policy meeting, delivering another hawkish surprise. According to the most recent Reuters …

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• 10 June 2023 12:45 am

  Wall Street abandons earlier gains as Fed, CPI awaited

  

  Wall Street has given up earlier gains as the US central bank’s policy decision and the Consumer Price Index (CPI) are awaited.The S&P 500 index is up 0.27% after rallying from a low of 4,279.10 to a high of 4,322.20, falling back to 4,303 currently. The benchmark S&P 500 closed …

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