Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 12 May 2023 1:29 pm

  European stocks edge higher, Richemont earnings in focus

  

  European stock markets rose on Friday as investors digested conflicting economic statistics from the United Kingdom as well as additional quarterly corporate reports. At 08:15 GMT, the DAX index in Germany was 0.4% higher, the FTSE 100 in the United Kingdom was 0.3% higher, and the CAC 40 in France …

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• 12 May 2023 12:57 pm

  Janet Yellen: We don’t know yet when the US treasury will run out of liquidity

  

  US Treasury Secretary Janet Yellen said there was still uncertainty about when the cash needed to repay the government’s debt would run out, but she would keep Congress informed of any change in the date, which could be around June 1. Yellen told Bloomberg Television that she will meet with …

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• 12 May 2023 11:42 am

  Dollar maintains its gains, amid bets on stopping interest rate hikes

  

  The dollar remained close to a peak of more than a week on Friday after a slew of data released overnight indicated a slowdown in the US economy, as investors bet the Federal Reserve would halt interest rate increases. The dollar index, which measures the performance of the US currency …

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• 12 May 2023 11:01 am

  Gold loses its luster with the strength of dollar and economic concerns curb losses

  

  Gold prices fell on Friday as the dollar rose, but continued economic concerns and a standoff over the US debt ceiling capped losses for the yellow metal. By 0301 GMT, spot gold fell 0.3 percent to $2,010.29 an ounce, down 0.3 percent for the week. US gold futures fell 0.3 …

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• 12 May 2023 9:33 am

  Oil is on its way to a fourth weekly loss

  

  Oil prices fell on Friday, on track for their fourth weekly decline, as economic concerns in the United States and China renewed concerns about fuel demand growth in the world’s two largest oil consumers. And by 0510 GMT, Brent crude futures fell 37 cents, or 0.49 percent, to $ 74.61 …

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• 12 May 2023 2:56 am

  Market Drivers – US Session – 11/05/2023

  

  A White House official announced on Thursday that a meeting on the debt limit between US President Joe Biden and key lawmakers, which was originally set for Friday, has been postponed. To discuss lifting the debt ceiling, Biden’s advisers met on Wednesday and Thursday with Republican House Speaker Kevin McCarthy, …

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• 12 May 2023 2:36 am

  McCarthy and Biden postpone the debt ceiling discussion

  

  A White House official announced on Thursday that a meeting on the debt limit between US President Joe Biden and key lawmakers, which was originally set for Friday, has been postponed. To discuss lifting the debt ceiling, Biden’s advisers met on Wednesday and Thursday with Republican House Speaker Kevin McCarthy, …

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• 12 May 2023 1:37 am

  EUR/USD sinks to four-week lows on stronger dollar

  

  The EUR/USD pair drops to 1.0916 as US PPI data slows and unemployment claims rise, strengthening the US Dollar. US Treasury bond yields fall with investors pricing in three rate cuts by the Federal Reserve by December 2023.ECB speakers emphasize slowing inflation in the Eurozone, with further rate hikes left …

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• 12 May 2023 12:01 am

  ECB’s de Guindos: Markets can be wrong about the terminal rate

  

  ECB Vice President Luis de Guindos said he does not anticipate a euro-area recession in the coming years. According to de Guindos, the ECB’s last decision had very high consensus and markets can be wrong about the terminal rate.“I don’t believe anybody who names a terminal rate”, he added. In …

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• 11 May 2023 11:47 pm

  Wall Street is grappling with losses related to earnings

  

  U.S. stocks dropped Thursday after disappointing earnings of Disney as well as a plunge in shares of regional banks and the threat of a U.S. debt default. Concerns of bank failure popped up again partially because of debt ceiling potential risk as well as liquidity issues regional banks recently show. …

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• 11 May 2023 10:45 pm

  What is shorting and how can it work amid recession fears?

  

  Leading investment firms are shorting US stocks as the global recession-linked fears become more and more severe. The approach is focused on shorting US stocks worth billions of dollars. This wave of selling short is a wager that the market would be under pressure as recession fears intensify. The possibility …

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• 11 May 2023 9:43 pm

  Sterling plunges after profit-taking selloff

  

  Sterling pound dropped although the rate hike decision of BoE Thursday because of heavy selling from the part of bulls who focused on profit-taking to benefit from the highs reached immediately after the central bank decision. GBP/USD rose to 1.2610 in response to rate hike decision before declining to 1.2543. …

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• 11 May 2023 9:22 pm

  Bailey: We are approaching the point of reversing monetary policy

  

  BoE governor Andrew Bailey said “We are approaching the point when we should be able to let level of rates rest” in statements delivered after central bank raised interest rate by 25 basis points. “We have not yet seen evidence that allows us to be sure rates can stay on …

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