Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 7 April 2023 1:03 am

  AUD/USD drops for three straight days as Wall Street gains on risk aversion

  

  Initial Jobless Claims for April 1 increased to 228,000, above projections of 200,000, signaling a softening of the US labour market. Since Wall Street is expected to complete the week with gains, with the exception of the Dow Jones, which fell by 0.02%, the AUD/USD extends its losses to three …

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• 7 April 2023 12:21 am

  5-month trendline supports USD/CAD’s steady ascent.

  

  The USD/CAD pair has a tendency to move downward, and the current upswing may reach a ceiling around 1.3568/75. At 1.3705, the cycle high set on December 16, there is still room for USD/CAD to rise.The USD/CAD is making a three-day rebound after plummeting towards 1.3400, but it is still …

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• 6 April 2023 11:38 pm

  Latest data push US stocks higher ahead of NFP

  

  In tumultuous trading on Thursday, the S&P 500 and Nasdaq gained, aided in part by a surge in Alphabet shares as investors anticipated new jobs data in the wake of recent indications of a slowing economy. Alphabet Inc. increased by 3.5%, and Microsoft increased by 2.2%, both of which contributed …

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• 6 April 2023 10:33 pm

  Silver fluctuates on uncertainty

  

  Silver’s price endures two consecutive declines near its YTD highs of $25.13, but it is unable to cross the $25.00 per troy ounce threshold. After hitting a day high of $25.00, the XAG/USD is trading at $24.95 at the time of writing. The price movement of the white metal, sometimes …

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• 6 April 2023 10:25 pm

  EUR/USD bulls retreat ahead of NFP data

  

  Ahead of important US data inputs, the EUR/USD is stagnant. The crucial Nonfarm Payrolls are now the main topic of discussion.In late New York, the EUR/USD is trading at its lowest point of the day amid holiday calm. At hourly resistance, the pair is currently trading at 1.0930. The pair …

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• 6 April 2023 6:53 pm

  GBP/USD sees pullback from 9-month high as US jobs data deteriorated

  

  The Pound Sterling (GBP) pullback from a 9-month high against the US Dollar (USD) on Tuesday dropped below the 1.2500 figure due to the US dollar’s renewed strength. The US labour market continues to deteriorate, painting a gloomy scenario for the US economy. The GBP/USD is trading at 1.2422 after …

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• 6 April 2023 6:47 pm

  Fed’s Bullard expects future of inflation to be “sticky”

  

  James Bullard, president of the St. Louis Federal Reserve, stated on Thursday that he believes future inflation will be sticky. He believes that present interest rates are at the low end of a properly restrictive range in terms of monetary policy. To bring inflation back on track, he said that …

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• 6 April 2023 5:51 pm

  U.S. weekly jobless claims hit 228,000, far above estimates

  

  The number of new applications for unemployment insurance in the United States rose more than expected last week in the latest sign of a slowdown in the US labor market, while the previous reading was revised much higher after a broad change in the estimate models used by the Labor …

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• 6 April 2023 3:51 pm

  Dow futures largely flat; caution ahead of Friday’s payrolls data

  

  In anticipation of the release of the much anticipated official employment data, investors remain hesitant about the state of the American economy and expect U.S. equities to begin Thursday with little change. At 11:00 GMT, the Nasdaq 100 Futures fell 35 points or 0.3%, the S&P 500 Futures traded 2 …

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• 6 April 2023 2:52 pm

  Oil is heading to record gains for the third week, after the sudden OPEC+ cuts

  

  Oil continues its path towards weekly gains on Thursday, as the OPEC+ announcement of additional production cuts targeted and falling US oil inventories overshadowed concerns about global economic growth. The two crude prices rose more than six percent this week, heading towards recording gains for the third week in a …

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• 6 April 2023 1:30 pm

  Gold is retreating from its highest level in a year as dollar rose before US data

  

  Gold prices retreated from their highest levels in a year on Thursday as the dollar regained some ground while investors await the US Nonfarm Payrolls report to assess the Federal Reserve’s monetary policy strategy. Spot gold fell 0.3 percent to $2,014.26 an ounce by 0543 GMT, after reaching its highest …

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• 6 April 2023 12:59 pm

  Japan’s Nikkei index closed at its lowest level in two weeks

  

  Japan’s Nikkei index closed at a two-week low on Thursday, driven by selling in exporters’ stocks after the yen rose overnight, while heavyweight technology stocks followed the Nasdaq’s decline. The Nikkei index fell 1.22 percent to close at 27,472.63 points, the lowest level since March 24. The broader Topix index …

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• 6 April 2023 4:19 am

  Market Drivers – US Session 05/04/2023

  

  Despite gloomy US data, the US Dollar rose after two days of significant losses. On Wednesday, bonds increased in value while equities on Wall Street finished neutral. Even though economic data and stock prices are slowing down, the bond market is still warning of an impending recession. From two-month lows, …

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