Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 1 July 2023 12:30 am

  US dollar, T-yields slide post PCE data

  

  The US dollar and Treasury yields retreated in May due to slowed consumer spending, but futures predict the Fed will resume raising interest rates next month to quell inflation. The core Personal Consumption Expenditures (PCE) price index fell to 4.6%, down from expectations of 4.7%. The PCE index increased by …

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June, 2023

• 30 June 2023 11:30 pm

  NFP growth expected to moderate in June

  

  The official June employment report for the US will be made available next Friday. The expected rise in payrolls is 200K, according to the market. Analysts anticipate a gain of 245K. Investors’ attention will therefore turn to consumers in a week that includes a wealth of earnings and data relating …

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• 30 June 2023 9:10 pm

  AUD/USD rises post US PCE data

  

  As US inflation shows signs of easing, the AUD/USD pair rises 0.66% and targets 0.6700, weakening the US dollar. The AUD is supported by lowered expectations of aggressive Fed rates, despite poorer Chinese data and lower CPI.As the end of the week, the month, and the quarter draws near, the …

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• 30 June 2023 8:34 pm

  Will jobless claims, Powell’s recent remarks shape forex trading?

  

  US weekly jobless claims data came volatile this week. Markets have been using them as a guide to identify the US job market’s turning point for a few weeks now. In the early days of the epidemic, the same thing took place the other way around. Relying on a weekly …

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• 30 June 2023 7:42 pm

  Bitcoin holds above $30,000 despite Biden’s remarks on crypto tax

  

  US President Joe Biden said that the federal tax system will eliminate loopholes for crypto traders. Bitcoin price held above the $30,000 psychological level, undeterred by Biden’s speech. The most famous crypto asset is trading around $30,005 at the time of typing. The Wall Street Journal has previously reported on …

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• 30 June 2023 3:06 pm

  The UK economy grows 0.1% in Q1

  

  Britain’s National Bureau of Statistics data showed on Friday that the British economy grew by 0.1 percent in the first quarter of this year, unchanged from preliminary estimates published last month. The office said that the British gross domestic product in the first quarter of this year was 0.5 percent …

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• 30 June 2023 2:05 pm

  British Prime Minister: The Environment Minister was asked to apologize, so he decided to resign

  

  British Prime Minister Rishi Sunak said on Friday that Environment Minister Zac Goldsmith had been asked to apologize for criticizing a parliamentary committee, but had decided to resign instead. Goldsmith was reprimanded on Thursday by a parliamentary committee that has been critical of the conduct of a group of allies …

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• 30 June 2023 1:33 pm

  Germany’s unemployment rate rises more than expected in June

  

  Data from Germany’s Federal Labor Office showed on Friday that the country’s unemployment rate rose more-than-expected in June. The office said that the number of unemployed increased by 28 thousand people in light of seasonal adjustments to reach 2.61 million people. Analysts polled by Reuters had expected an increase of …

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• 30 June 2023 12:39 pm

  European stocks rise, supported by hopes of economic stimulus in China

  

  European stocks rose on Friday after weak factory activity data in China boosted hopes for more stimulus policies, while investors awaited key inflation data to look for other clues about the direction of global interest rates. The pan-European Stoxx 600 index was up 0.3 percent by 0703 GMT. The index …

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• 30 June 2023 11:53 am

  Nikkei drops ahead of earnings season

  

  The Japanese Nikkei index trimmed its losses to close lower on Friday and stop rising before the season of companies announcing their earnings, but it achieved gains for the sixth month in a row as a result of investors’ appetite to buy falling stocks. The Nikkei fell 0.14% to 33,189.04 …

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• 30 June 2023 10:21 am

  Oil is heading to record its first monthly increase this year with declining supplies

  

  Oil prices rose on Friday, and Brent crude is heading for its first monthly increase this year, as a significant decline in US crude oil inventories erased fears that fuel demand would be affected by any new increase in interest rates. Brent crude futures for September delivery were up 16 …

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• 30 June 2023 9:46 am

  Gold is near its lowest level in about 4 months, after Powell hinted to raise interest rates

  

  Gold settled near its lowest level in four months on Friday, as investors awaited important US inflation data later on Friday, after a group of strong data and statements in favor of monetary tightening from Federal Reserve officials increased bets on raising interest again. And gold settled in the spot …

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• 30 June 2023 4:21 am

  Market Drivers – US Session – 29/06/2023

  

  USD/CAD registered minuscule losses on Thursday in a session that witnessed the US Dollar as the strongest currency, which rose on better-than-expected US economic data which failed to boost the USD/CAD. The USD/CAD is trading at 1.3249 after hitting a high of 1.3285. Despite late Thursday’s corrective rally from multi-day …

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