Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 5 May 2023 2:46 pm

  Russian ruble rises to the highest level in a month

  

  The Russian ruble rose during trading today, to the highest level in more than a month, to continue its gains for the fifth consecutive session, as oil prices stabilized after the recent decline, which somewhat reduced the impact of the decrease in the supply of foreign currencies in Russia. The …

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• 5 May 2023 2:20 pm

  Gold drops before new economic data

  

  Gold fell on Friday from near record highs as investors await more economic indicators, but it is still on track to post its best week in nearly two months as hopes of halting interest rate hikes in the United States and banking problems increased demand for a safe haven. And …

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• 5 May 2023 1:12 pm

  European shares open at the highest level in two weeks

  

  European stock markets traded higher Friday, as investors digested more corporate newsflow, the European Central Bank’s monetary policy decision ahead of the key U.S. jobs report. At 04:00 ET (08:00 GMT), the DAX index in Germany traded 0.3% higher, the FTSE 100 in the U.K. climbed 0.4%, and the CAC …

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• 5 May 2023 11:53 am

  Adidas expects bumpy year despite forecast-beating sales

  

  Adidas shares rose on Friday after better-than-expected first-quarter results, although CEO Bjorn Gulden forecast “a bumpy year with disappointing numbers” for the German sportswear giant. Despite a 1% sales drop, an operating profit of 60 million euros ($66 million) beat analyst expectations of 15 million euros for the company which …

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• 5 May 2023 11:12 am

  Oil is rising, but is heading for a third weekly loss

  

  Oil prices rose in Asian trading on Friday, but were on track for a third consecutive weekly loss, after the markets witnessed sharp declines amid fears of a weak US economy and slowing Chinese demand. And by 0545 GMT, Brent crude rose 60 cents, or 0.8 percent, to $ 73.10 …

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• 5 May 2023 9:39 am

  Gold is heading towards recording weekly gains, supported by hopes of stopping the US interest rate hike

  

  Gold prices stabilized on Friday, but were heading towards recording the largest weekly increase in nearly two months, as hopes of stopping the Federal Reserve raising interest rates and concerns of the banking sector boosted the appetite for the precious metal, which is considered a safe-haven asset. And by 0039 …

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• 5 May 2023 2:55 am

  Market Drivers – US Session 04/05/2023

  

  Wall Street dropped again due to banking concerns, and US bond yields hit fresh monthly lows amid expectations of rate cuts from the Federal Reserve during the second half of the year. Although the US Dollar Index (DXY) rose modestly, boosted by the decline in EUR/USD, the Greenback lost ground …

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• 5 May 2023 2:43 am

  Will nonfarm payrolls support Fed’s pause in June?

  

  Will nonfarm payrolls support Fed’s pause in June? Nonfarm payrolls are an economic indicator that reflects the state of the labor market and the contribution to gross domestic product. They are also known as the jobs report or non-farms. In this context, nonfarm payrolls will be used as a test …

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• 4 May 2023 10:37 pm

  Macklem: BoC prepared to hike rates if inflation persists

  

  The Bank of Canada´s Governor Tiff Macklem said in a prepared speech at the Toronto Region Board of Trade that if they start to see signs that inflation is likely to get stuck materially above their 2% target, they are prepared to raise interest rates further. The BoC decided to …

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• 4 May 2023 9:15 pm

  Gold steadies around $2050 on Fed’s latest signal

  

  The Gold Index hits new highs as Fed signals QT pause, though profit-taking weighed on the precious metal’s price which is trading around $2050.00 at the time of writing.The labour market eases as US Initial Jobless Claims rise to 242K, but Continuing Claims fall to 1.81 M. Gold could dip …

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• 4 May 2023 8:34 pm

  Sterling inches higher after Lagarde’s comments

  

  After the Federal Reserve decided to raise rates by the same amount on Wednesday, GBP/USD surged to new highs. The ECB’s statement that went along with it emphasised signs of ongoing inflation pressures in the Eurozone. Following hawkish remarks made by Christine Lagarde, president of the European Central Bank, on …

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• 4 May 2023 7:21 pm

  US Dollar benefits from sour mood, latest Data

  

  US Dollar suffered heavy losses against its rivals on Wednesday. Markets expect the Fed to pause its tightening cycle in June following the latest policy decisions. US Dollar Index holds above 101.00 but the bearish bias stays intact. The dollar continued to weaken against its rivals late Wednesday and the …

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• 4 May 2023 3:29 pm

  Novak: Russia is committed to oil production cuts

  

  Russian Deputy Prime Minister Alexander Novak said on Thursday that Russia is committed to its voluntary pledge to cut oil production by 500,000 barrels per day from February until the end of the year. Russia is part of the OPEC + group of oil-producing countries that announced that they would …

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