Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 4 April 2023 4:50 am

  Market Drivers – US Session 03/04/2023

  

  On Monday, OPEC+ surprised the markets by substantially raising crude oil prices, yet Wall Street continued to advance. The regular suspects will once again be the focus on Tuesday. The Reserve Bank of Australia (RBA) will hold its monetary policy meeting, while the Eurozone’s February Producer Price Index will provide …

  Read More »
• 4 April 2023 4:38 am

  Yellen: OPEC+ oil cut will add uncertainty to global growth outlook

  

  According to US Treasury Secretary Janet Yellen, on Monday, “A surprise OPEC+ oil production cut is an ‘unconstructive act’ that will add uncertainty to the global growth outlook and to burdens on consumers at a time of high inflation,” “I think it’s a regrettable action that OPEC decided to take. …

  Read More »
• 4 April 2023 2:34 am

  GBP/USD bulls celebrate US Dollar weakness

  

  With a positive start to the important week, the GBP/USD pair continues to climb. OPEC+ decision, despite driving up oil prices, fails to support the US dollar. The two appear to dismiss criticism of Brexit, pessimistic UK inflation projections, and a strong US dollar.Weaker US data, rates, and declining hawkish …

  Read More »
• 4 April 2023 1:30 am

  AUD/USD jumps on weaker US dollar

  

  The bearish pennant on the AUD/USD is still active. The pair rose to a 4-week high of 0.67585 as the US dollar fell on Monday, giving up gains made after unexpected cuts to OPEC+ oil supply. According to US data, manufacturing and construction spending decreased, and the US economy continued …

  Read More »
• 3 April 2023 11:58 pm

  WTI holds above surprise opening gap on OPEC’s decision

  

  The West Texas Intermediate remains above the gap in bullish territory. The OPEC+ cartel shocked the market by reducing output by 1.1 million barrels per day in order to stabilize prices.West Texas Intermediate WTI crude oil increased 6.3% on Monday and is currently trading at $80.44. The day’s high was …

  Read More »
• 3 April 2023 11:05 pm

  Is this week’s 15% pullback for Bitcoin likely?

  

  With the beginning of the new trading week’s Asian trading session, the price of bitcoin is not displaying any strong momentum. If BTC loses its crucial support level at $26,555, the current consolidation will develop into a selling frenzy.The bearish thesis would be refuted if the psychological threshold of $30,000 …

  Read More »
• 3 April 2023 10:17 pm

  USD/CHF falls on softer Swiss inflation data post US Manufacturing PMIs

  

  As the US economy tightened, the S&P Global and ISN Manufacturing PMIs dipped into the recessionary range. Following weak US manufacturing data, the yields on US Treasury bonds and the Dollar both plunge.After reaching a daily high of 0.9196, the USD/CHF fell by 0.17% due to lower-than-expected inflation in Switzerland. …

  Read More »
• 3 April 2023 9:26 pm

  USD/CAD declines as CAD strengthens on weaker USD, OPEC’s decision

  

  The Canadian Dollar strengthened as a result of a lack of oil supply and a weak US Dollar, pushing the USD/CAD pair south of the 100-day EMA. After reaching a daily high of 1.3536, the USD/CAD is currently trading at 1.3450. the pair is down by 0.68 and is trading …

  Read More »
• 3 April 2023 7:22 pm

  EUR/USD slides after hitting fresh highs post US ISM Manufacturing PMI

  

  Following the release of US economic statistics, the EUR/USD increased even further, printing a new daily high at 1.0916. The price then dropped to 1.0885. Due to risk appetite and declining yields, the US dollar is under pressure.The US Dollar Index is dropping 0.50% and is poised to challenge the …

  Read More »
• 3 April 2023 5:33 pm

  Crude oil soars on surprise OPEC+ output cut; mounting demand worries?

  

  After a surprising agreement by OPEC+ to reduce additional output, oil prices soared on Monday, registering their largest daily increase in over a year. After reaching its highest price in a month at $86.44, Brent crude was up $4.91, or 6.2%, to $84.80 a barrel as of 12:15 GMT. After …

  Read More »
• 3 April 2023 4:36 pm

  Oil surges as OPEC+ surprise output target cuts shake markets

  

  After a surprising agreement by OPEC+ to reduce additional output, oil prices soared on Monday, registering their largest daily increase in over a year. After reaching its highest price in a month at $86.44, Brent crude was up $4.64, or 5.8%, to $84.53 a barrel as of 11:15 GMT. After …

  Read More »
• 3 April 2023 3:02 pm

  Indicator: Turkey’s manufacturing sector continued to grow in March

  

  Turkish factory activity continued to grow in March, with both new orders and production increasing despite the continuing repercussions of the devastating earthquakes that hit the country in February on the sector. According to the Istanbul Chamber of Industry and Standard & Poor’s Global, the purchasing managers’ index in the …

  Read More »
• 3 April 2023 1:30 pm

  Dollar rises as inflation fears return after the OPEC + surprise

  

  The dollar rose on Monday as fears about inflation returned after the surprise announcement by major oil producers to cut production further. The announcement by the Organization of the Petroleum Exporting Countries and its allies, in what is known as the OPEC + group, came after data showed on Friday …

  Read More »