Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 15 April 2023 12:14 am

  USD/CAD’s scope to move lower based on BoC, oil prices

  

  The USD/CAD pair is on its way to closing below 1.3400 for the lowest weekly close since February. The Canadian Dollar has some room to rise in the near future, according to MUFG Bank analysts. Analysts have been relatively skeptical about the prospects for CAD, and overall for the year, …

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• 14 April 2023 11:09 pm

  Will GBP be able to continue to outperform?

  

  Less bad news than true positive news is being reflected in the strength of the British pound. Analysts note that the Bank of England will be heavily reliant on UK data (including employment and inflation) the following week. Although the pound has done well this year, recent data may have …

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• 14 April 2023 10:00 pm

  Friday’s stronger US dollar drags EUR/USD lower

  

  The US Dollar strengthens on Friday after US data and remarks by some Fed officials. The EUR/USD pair drops 80 pips from top, but holds firm to weekly gains. The EUR/USD is losing ground on Friday as the US Dollar recovers a part of recent losses. The pair reached a …

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• 14 April 2023 6:23 pm

  UoM’s Consumer Confidence Index improves in April

  

  Consumer sentiment in the US improved modestly in early April with the University of Michigan’s (UoM) Consumer Confidence Index rising to 63.5 (preliminary) from 62 in February. This reading came in better than the market expectation of 62. Consumer Confidence Index in the US rose slightly in April. The US …

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• 14 April 2023 6:15 pm

  US Consumer spending gradually loses momentum

  

  According to figures released on Friday, US retail sales in March decreased more than was predicted. Analysts claim that the amount of spending is still high, proving that consumers’ underlying resilience has not changed.After an extremely good start to the year, retail sales are declining once more. The amount of …

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• 14 April 2023 5:14 pm

  US Retail Sales decline by 1% in March

  

  According to figures released by the US Census Bureau on Friday, retail sales in the US fell by 1% on a monthly basis to $691.7 billion in March. This report was worse than the market consensus of a decline of 0.4% and followed February’s contraction of 0.2% (updated from -0.4%). …

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• 14 April 2023 4:01 pm

  European stocks rise, supported by hopes that the US interest rate hike will stop

  

  European stocks rose on Friday, on the verge of recording weekly gains for the fourth week in a row, supported by hopes that the Federal Reserve (the US central bank) will soon stop raising interest rates after recording lower-than-expected inflation in March. The pan-European STOXX 600 was up 0.3% by …

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• 14 April 2023 2:55 pm

  Dollar is losing strength with the expectation that the US interest rate hike will end soon

  

  The dollar fell to near a two-month low against major currencies on Friday, while the euro hovered near a one-year high, as dealers’ expectations of an imminent end to the US interest rate hike cycle increased amid signs of slowing inflation. Data from the US Labor Department on Thursday showed …

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• 14 April 2023 2:07 pm

  Oil falls after the Energy Agency warned of a supply deficit

  

  Oil prices fell on Friday after the International Energy Agency warned that production cuts announced by OPEC+ producing countries could widen the oil supply deficit and harm consumers. And by 0820 GMT, Brent crude futures fell ten cents, or 0.12 percent, to $ 85.99 a barrel. West Texas Intermediate crude …

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• 14 April 2023 1:32 pm

  Japan’s Nikkei closed higher for the sixth consecutive day

  

  Japan’s Nikkei index rose for the sixth consecutive session on Friday, its longest streak of consecutive gains since July, supported by a rally on Wall Street overnight and the rise of Fast Retailing, owner of Uniqlo stores. The Nikkei index closed up 1.2 percent at 28,493.47 points, recording a weekly …

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• 14 April 2023 3:16 am

  Market Drivers – US Session 13/04/2023

  

  A further decline in the US Dollar broke technical and psychological support levels. US stocks also increased at the same time. The Nasdaq increased by 1.99%, while the Dow Jones finished up 380 points, or 1.15%. Since February, the VIX closed at its lowest level. On Friday, major US banks …

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• 14 April 2023 2:28 am

  Why do world’s largest crypto assets continue climbing?

  

  The recent banking crisis has helped Bitcoin rise in 2023, and some other cryptocurrencies are following suit: At the same moment that Bitcoin has surpassed $30,000, ether has surpassed $2,000 for the first time since May 2022. Bitcoin was earlier on Thursday at $30,533, up 1.5% from where it was …

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• 14 April 2023 1:29 am

  USD/JPY bulls rely on a safety net at daily trendline support

  

  Bulls on the USD/JPY remain in contention with chances of a daily closing over 132.50. The support of the trendline for the USD/JPY pair is crucial at this point. For the bullish thesis to continue to hold, 132.50 was identified as a crucial threshold that had to hold. This was …

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