Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 27 July 2023 6:45 pm

  US economy beats expectations with spring surge

  

  The US economy experienced a spring surge, with growth reaching an annual rate of 2.4% in the three months to June, despite a slowdown in consumer spending. This growth was driven by a jump in business investment and a 1.6% increase in consumer spending. The Fed’s interest rate hikes have …

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• 27 July 2023 2:57 pm

  President of the Turkish Central Bank: Monetary tightening will continue gradually

  

  The new President of the Turkish Central Bank, Hafiza Ghaya Erkan, said on Thursday that the bank will tighten monetary policy gradually and will continue to implement selective tightening measures. Speaking during a press conference in Ankara to announce the bank’s quarterly inflation report, Erkan stated that inflation will rise …

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• 27 July 2023 12:57 pm

  European stocks rose on a morning full of business results, eyes are on the ECB decision

  

  European stocks rose on Thursday as traders reacted to a slew of earnings reports in the morning and awaited the European Central Bank’s monetary policy decision after the Federal Reserve raised interest rates as expected. And by 0713 GMT, the European STOXX 600 index rose 0.4 percent, after Asian stocks …

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• 27 July 2023 11:41 am

  Gold is at its highest level in a week, supported by the dollar’s decline

  

  Gold prices rose to a one-week high on Thursday, supported by a slight decline in the dollar, as investors weighed somewhat measured comments from Federal Reserve Chairman Jerome Powell following a widely expected interest rate hike. Spot gold rose 0.3 percent to $1,977.13 an ounce by 0352 GMT, after earlier …

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• 27 July 2023 11:14 am

  Dollar is falling amid expectations of the end of the federal interest rate hike cycle

  

  The dollar fell on Thursday after the Federal Reserve made what some predicted would be its last rate hike, with market focus shifting to the European Central Bank’s interest rate decision later in the day. The Fed on Wednesday raised interest rates by a quarter of a percentage point as …

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• 27 July 2023 10:13 am

  Oil is heading to its highest level in more than 3 months with focus on tight supply

  

  Oil prices rose 1 percent on Thursday, to compensate for the losses of the previous session, after overshadowing concerns about the economic slowdown, and expectations of an increase in Chinese demand. And by 0522 GMT, Brent crude futures rose 72 cents, or 0.9 percent, to $ 83.64 a barrel. US …

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• 27 July 2023 1:38 am

  Which assets can best tell the actual impact of Fed’s recent hike?

  

  The EUR/USD pair rises, benefiting from the weaker performance of the US dollar following Fed’s policy decision. The Fed hiked rates by 25 bps as expected to 5.25-5.50%, its highest in 22 years, meanwhile, all eyes are focusing now on ECB’s decision on Thursday, expected to deliver a 25 bps …

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• 27 July 2023 12:43 am

  Market Drivers – US Session – July 26

  

  Crude oil pulled back from monthly highs, falling less than 1%, with the WTI ending around $79.00. Gold rose after the FOMC meeting but failed to consolidate above $1,975. Silver also climbed but pulled back after testing levels above $25.00. Market participants will continue to digest the FOMC meeting during …

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• 26 July 2023 10:47 pm

  Powell comments on Fed’s latest interest rate hike

  

  Jerome Powell said that the US “labour market remains very tight” and that demand still and that demand for labor “substantially exceeds supply of available workers.”However, the Fed chair did note that the labor market is not as hot as it was last year. “There are some continuing signs that …

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• 26 July 2023 10:32 pm

  USD/JPY dropped following the Fed hiking by 25 bps

  

  The USD/JPY pair holds to daily losses at the 140.40 area. The pair is precisely trading at 140.63, namely down by about -20% at the time of writing after Fed hiked rates by 25 bps as expected to 5.25% and left the door open for further hikes. Eyes on BoJ’s …

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• 26 July 2023 10:03 pm

  Fed hikes interest rate by 25 bps as investors wait for J. Powell’s clues for rest of 2023

  

  Fed hikes interest rate by 25 bps as investors wait for J. Powell’s clues for rest of 2023the Federal Reserve decided to increase its policy rate by 25 basis points to 5.25–5.50%. The Fed has had a difficult time persuading the markets that they will increase interest rates at least …

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• 26 July 2023 9:45 pm

  WTI slides towards $79.00 ahead of Fed decision

  

  WTI gained support at a $78.66 daily low and later rose above $79.00 although still suffering daily losses. The FOMC decision, which is anticipated to result in a 25 bps raise, will be the session’s high point. EIA Crude Oil stockpiles decreased by 0.6M in the third week of July, …

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• 26 July 2023 9:12 pm

  EUR/USD holds steady above 1.1070 in the early US session

  

  As investors avoid taking up significant positions before the Fed announces its monetary policy decisions, the EUR/USD pair gained momentum midweek and stabilised above 1.1070. On Tuesday, the pair fell to 1.1020, its lowest point in two weeks, but recovered in the early American session. The US Dollar lost appeal …

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