Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 19 June 2023 1:29 pm

  Passenger car sales in China rose 26.4% in May

  

  Data showed that passenger car sales in China rose to 2.05 million units in May, up 26.4% year on year. Specifically, sales of SUVs, MPVs and crossovers in May expanded compared to the same period last year, according to data from the China Association of Automobile Manufacturers. During the period, …

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• 19 June 2023 11:58 am

  European shares fall at open, Sartorius plunges on forecast cut

  

  European equities dipped at the opening bell on Monday, led by Franco-German lab equipment maker Sartorius, as investors expected additional stimulus measures from China to boost demand. By 0719 GMT, the pan-European STOXX 600 index had down 0.5%, while Germany’s DAX had fallen 0.4% after ending at a record high …

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• 19 June 2023 10:57 am

  Faint gains for the dollar as traders analyze the path of interest rates

  

  The dollar felt its way on Monday, as investors continued to analyze the results of the central bank meetings witnessed last week, including the Bank of Japan’s decision to adhere to the monetary easing policy that keeps the yen weak. The dollar index, which measures the performance of the greenback …

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• 19 June 2023 9:55 am

  Oil gives back earlier gains and banks cut growth forecasts in China

  

  Global oil prices fell on Monday, reversing gains made last week, as doubts about China’s economy overshadowed OPEC+ production cuts and the reduction in the number of oil and gas rigs operating in the United States for the seventh consecutive week. Brent crude fell 68 cents to trade at $75.93 …

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• 19 June 2023 1:18 am

  Financial Markets’ Weekly Recap: June 12-16

  

  The macroeconomics situation of the US has generally improved better than anticipated and is likely to improve further. This is expected to reduce upward support on the dollar’s value.Although the June FOMC meeting gave the impression that hawkish policymakers were taking a break by raising the terminal rate for this …

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• 17 June 2023 2:42 am

  Market Drivers – US Session – 16/06/2023

  

  After a volatile week that included many top monetary policy events including the Fed and the ECB meetings, as well as the US CPI data, next week will see interest rate decisions from the Bank of England and the Swiss National Bank. Key Data Market participants’ sentiment is mixed, as …

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• 17 June 2023 2:03 am

  Oil achieves weekly gains on supply balance

  

  Oil rose on Friday and posted a weekly gain, as higher Chinese demand and OPEC+ supply cuts lifted prices. Brent crude gained 94 cents to settle at $76.61 a barrel, while US West Texas Intermediate (WTI) crude rose $1.16 to $71.78. Brent posted a weekly gain of 2.4% and WTI …

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• 17 June 2023 1:40 am

  Could gold price climb after neutral weeks?

  

  Markets are eyeing Powell’s two-day testimony before the House and Senate next week, a lineup for Fed speakers, and more macro releases.Next week, gold will experience a lot of conflicting signals. More easing from China (commercial banks are reducing rates), Fed speakers, and flash PMIs. The market may theoretically still …

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• 17 June 2023 12:43 am

  US stocks ticked down amid generally positive performance

  

  US equities fell on Friday as Wall Street wrapped up a busy week that saw investors receive a Federal Reserve pause on rate hikes as well as positive inflation data. The Dow Jones Industrial Average dropped 108.94 points, or 0.32%, to settle at 34,299.12 and the S&P 500 dipped 0.37 …

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• 16 June 2023 11:01 pm

  USD/CAD to close on weekly decline amid hawkish Fed speaks

  

  The USD/CAD pair is expected to end a third consecutive week of decline as hawkish Fed speakers limit the pair’s upside potential. On Friday, the USD/CAD continued its downward momentum dropping to a low of 1.3188 and it is set to confirm a 100 pips weekly decline. At the time …

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• 16 June 2023 9:38 pm

  EUR/USD trims gains as hawkish remarks digested

  

  The EUR/USD pair’s rally slowed down following the ECB rate hike and hawkish remarks from central bankers. US Consumer Sentiment improves, supporting a stronger USD; Eurozone inflation slows as expected. Hawkish stances by both ECB and Fed officials hint at potential further tightening. Upcoming key events include the German May …

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• 16 June 2023 8:01 pm

  Fed: Outlook for funds rate subject to considerable uncertainty

  

  Inflation in the US is well above target and the labor market remains very tight, the US Federal Reserve’s recently published monetary policy report to Congress read, ahead of Chairman Jerome Powell’s Capitol Hill testimony next week, per Reuters.In reaction; the US Dollar Index clings to modest recovery gains near …

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• 16 June 2023 4:00 pm

  Gold rises as the dollar weakens, but the path of raising US interest rates caps the gains

  

  Gold rose on Friday after the dollar hovered near a one-month low, but expectations of an increase in US interest rates this year limited gains. And gold in spot transactions increased 0.3 percent to $ 1964.19 an ounce by 1030 GMT, on its way to rise 0.2 percent this week. …

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