Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 3 April 2023 9:10 am

  OPEC+ surprise output cuts lift oil prices by $5/bbl

  

  The sudden declaration by OPEC+ to further reduce output in what top producer Saudi Arabia called a precautionary move to protect market stability sent oil prices soaring on Monday. Brent oil reached its highest price in a month at $86.44 earlier in the day. At 03:47 GMT, it was trading …

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• 3 April 2023 7:22 am

  Financial Markets’ Weekly Recap, March 27-31

  

  Wall Street rose on Friday, with the Nasdaq index posting its biggest quarterly percentage gain since June 2020, after signs of easing inflation raised hopes that the Federal Reserve would soon end its aggressive campaign to raise interest rates. The Standard & Poor’s 500 Index posted gains for the second …

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• 1 April 2023 5:00 am

  Market Drivers – US Session 31/04/2023

  

  After Friday’s inflation figures, the US Dollar rose against the Euro, but the American currency was still on course for a weekly loss.Economic DataThe University of Michigan’s consumer confidence index reported a score of 62 points in March, down from the previous reading of 63.4 points, which was lower than …

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• 1 April 2023 2:29 am

  WTI surges with 9% weekly gains

  

  According to the US Department of Commerce, PCE was lower than expected, which sparked rumours about Fed’s next move. Once several oilfields in the Kurdish area in northern Iraq saw their output decrease, oil prices increased.After reaching a YTD low of $64.41, WTI, the US crude oil benchmark, is expected …

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• 1 April 2023 12:39 am

  AUD/USD Impacted by US Inflation Data

  

  The key factor behind the AUD/decline was the buoyant American dollar. Inflation in the US is still declining, and consumer confidence declined in March. TDS Analyst anticipates that the RBA will maintain rates at their meeting in April. Awaiting the RBA’s decision, the AUD/USD price is muted in the immediate …

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March, 2023

• 31 March 2023 11:39 pm

  Could Dogecoin rally 60% next week?

  

  In the daily period, the price of Dogecoin coils up, indicating a sudden move. A 50% to 60% increase is anticipated if DOGE imitates Ripple. The bullish prediction will be invalidated if the meme currency is unable to maintain above the $0.0705 support level. The crypto asset is trading at …

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• 31 March 2023 10:52 pm

  Fed’s Williams: Expect inflation to decline to around 3.25% this year

  

  Federal Reserve Bank of New York President John C. Williams said, on Friday, that the economic outlook is uncertain and that their decision will be driven by the data. He expects real GDP to grow modestly in 2023 and to pick up next year. Key Quotes: “While the FOMC has …

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• 31 March 2023 9:37 pm

  Silver exceeds monthly highs amid improved market sentiment

  

  Because of declining US Treasury bond yields, silver prices are trading at fresh monthly highs above $24 per ounce. At the time of writing, silver is trading at $23.974 at the time of writing.US markets are expected to end the month with gains as sentiment continues to be the session’s …

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• 31 March 2023 6:48 pm

  Biden: US is making progress in the fight against inflation

  

  US President Joe Biden delivered a statement following the February PCE report, highlighting the progress in the fight against inflation. Key Quotes We are making progress in the fight against inflation. Today’s report shows annual inflation down by nearly 30 percent from this summer, against a backdrop of low unemployment …

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• 31 March 2023 6:39 pm

  U.S. stocks are rising after inflation data boosts hopes for Fed pause

  

  As a crucial inflation figure came in lower than anticipated, U.S. equities were up. The Dow Jones Industrial Average was up 171 points, or 0.5%, at 10:01 ET (14:01 GMT), while the S&P 500 and the NASDAQ Composite were also higher. The Federal Reserve constantly monitors the personal consumption expenditure …

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• 31 March 2023 4:58 pm

  U.S. PCE price inflation slowed in February

  

  According to the most recent monthly update of the Federal Reserve’s favoured inflation indicator, consumer prices increased less in February than anticipated. Compared to the 0.3% forecast, the price index for core personal consumption increased by only 0.2% in February, slowing from a 0.5% gain in January that had been …

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• 31 March 2023 3:13 pm

  China’s factory activity growth slowed in light of weak global demand

  

  Official data showed on Friday that the pace of growth in China’s manufacturing activity slowed in March, which casts doubt on the strength of the industrial sector’s post-Covid recovery in light of weak global demand. As for the services sector, it was stronger, and its activity grew at the fastest …

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• 31 March 2023 2:25 pm

  Turkey’s trade deficit rises 51.4% in February

  

  Data published by the Turkish Statistical Institute on Friday showed that the country’s foreign trade deficit rose 51.4 percent in February on an annual basis to $12.08 billion, after imports jumped 10.1 percent. The data showed that imports amounted to 30.71 billion dollars, while exports fell 6.4 percent to 18.64 …

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