Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 21 July 2023 9:12 pm

  IMF Approved Yuan for Argentina’s Debt Repayment

  

  Argentina has made a $2.7 billion payment on its debt to the International Monetary Fund in June, with $1 billion coming from its stockpile of Chinese yuan and the rest consisting of IMF special-drawing rights. This unprecedented step underscores the dire situation of the Argentine economy and the increasing relevance …

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• 21 July 2023 8:50 pm

  Higher rates pushed US banks’ earnings higher in Q2

  

  Higher interest rates helped US banks’ Q2 profitability, which in turn helped key markets rise. The prospects for the industry is, however, cast in doubt by decreased consumer spending, sluggish loan growth, and rising deposit-retention expenses. The S&P 500 Banks Index increased by 9.3%, while the KBW Regional Banking Index …

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• 21 July 2023 7:54 pm

  USD/JPY soars on BoJ’s dovish stance

  

  The USD/JPY pair has surged due to the Bank of Japan’s dovish stance, breaking away from the 140.00 range during the Asian session. The uptrend could continue based on interest rate differentials, but next week’s Fed and BoJ decisions are expected to impact the market.The pair’s rally was driven by …

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• 21 July 2023 4:41 pm

  Putin launches a giant liquefied gas project in the Arctic

  

  Russian President Vladimir Putin launched the first line of the Arctic LNG2 project in Murmansk, the first phase of a giant Arctic liquefied natural gas (LNG) project in which the French group Total Energy was a party before its withdrawal in 2022. The value of the project is estimated at …

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• 21 July 2023 2:40 pm

  Gold is heading for gains for the third week in a row

  

  Gold prices continued to gain for the third week in a row, Friday, July 21, supported by hopes that the US Federal Reserve will stop raising interest rates after its meeting this month. And by 06:15 GMT, gold in instant transactions increased 0.1% to $ 1970.69 an ounce, up 0.7% …

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• 21 July 2023 12:48 pm

  European stocks open to stability and the gains of energy companies erase the losses of the technology sector

  

  European stocks fell at the open on Thursday, as investors assessed mixed business results announced by companies in the region, and disappointing financial results from two US giants, Netflix and Tesla, weighed on sentiment. The pan-European STOXX 600 index was down 0.2 percent by 0705 GMT. Frankfurt-listed shares of Netflix …

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• 21 July 2023 11:51 am

  Japan’s Nikkei index is falling for a second day under pressure from chip stocks

  

  The Japanese Nikkei index ended lower on Friday, affected by the acceleration of declines in stocks related to chips, which are tracking their counterparts in the United States. Semiconductor giants Tokyo Electron and Advantest fell 5.6 percent and 5.8 percent, respectively, wiping nearly 200 points from the Nikkei index. The …

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• 21 July 2023 10:55 am

  Dollar is rising and Japan’s inflation data is boosting the yen

  

  The dollar rose on Friday as data indicated a resilient US labor market could prompt the Federal Reserve to keep interest rates higher for longer, while the yen strengthened after core consumer inflation in Japan accelerated again in June. Next week, central bank meetings will be held in Europe, Japan …

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• 21 July 2023 9:45 am

  Oil rises as markets assess falling inventories and possible Chinese stimulus

  

  Brent crude prices rose in Asian trading on Friday, amid market assessments of the possibility of announcing economic stimulus measures in China after weak economic data, as well as falling inventories in the United States and reducing supplies from two major producers. Brent crude futures rose 63 cents to $80.27 …

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• 21 July 2023 2:54 am

  

  Market Drivers – US Session – July 20 Due to lower-than-expected profits and data that could justify further Federal Reserve rate hikes, US stocks slightly declined on Thursday. The Dow Jones managed to close with a 0.45% gain while the Nasdaq lost over 2% of its value. The DXY increased …

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• 21 July 2023 2:35 am

  EUR/USD licks dragged lower on strong US dollar

  

  EUR/USD has dropped to its lowest level in two months, with the pair trading around 1.1130 after a three-day losing streak against the strong US Dollar. The US Jobless Claims data and downbeat tech sector performance have favored Treasury yields, boosting the US dollar. The Philadelphia Fed Manufacturing Survey gauge …

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• 21 July 2023 2:12 am

  Wall Street’s rally weakens after Tesla, Netflix miss estimates

  

  Tesla and Netflix’s spring profits have delayed Wall Street’s advance after the two tech-focused businesses who announced their spring profits. Despite better-than-expected profit and revenue, Tesla’s stock fell 9.7%, and analysts think that investors may be worried about the electric vehicle manufacturer’s profitability following price cuts. The summertime shutdown of …

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• 21 July 2023 12:51 am

  El Salvador’s bonds benefited from Bitcoin’s recent gains

  

  El Salvador’s junk-rated bonds have experienced a significant surge in value in the past six months, with the value of the country’s bonds up 62%. This is part of a market-wide trend in junk-rated bonds in 2023, with El Salvador’s bonds outperforming the Invesco Emerging Markets Sovereign Debt. El Salvador’s …

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