Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 22 May 2023 10:38 pm

  McCarthy hints at debt ceiling deal tonight or tomorrow

  

  On Monday, US House Speaker Kevin McCarthy expressed optimism about reaching a deal on the debt-limit with White House negotiators, stating that discussions had been productive leading up to a meeting with President Joe Biden later in the day. McCarthy said he’s insisting on an agreement to “spend less” than …

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• 22 May 2023 9:24 pm

  Gold Higher as US Debt Ceiling Talks, Fed’s Stance in Focus

  

  Gold prices rise as traders await clarity on U.S. debt ceiling negotiations and Federal Reserve’s interest rate strategy. Gold prices influenced by US debt ceiling negotiations, Federal Reserve’s interest rate pathGold is seen as a safe-haven investment amid concerns over the debt ceiling. The impact of US default on gold …

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• 22 May 2023 8:15 pm

  Fed’s Daly: Fed must be on watch for slowing economy

  

  Federal Reserve Bank of San Francisco President Mary Daly refrained from commenting on the next possible Federal Reserve policy decision but reiterated that they must be very date-dependent right now. The US Dollar Index clings to small daily gains near 103.30 after these comments.Keys Quotes “Want to see if policy …

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• 22 May 2023 6:52 pm

  What can Monday’s well-being report tell about US economy?

  

  According to the findings of the US Federal Reserve’s annual survey entitled “Survey of Household Economics and Decision making,” households reported a decline in financial well-being. The US Dollar Index clings to small daily gains slightly above 103.20 after this report.Key Quotes“Report shows higher prices have negatively affected most households.”“One …

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• 22 May 2023 4:04 pm

  Dollar steady as debt ceiling talks to resume

  

  The dollar was generally stable on Monday, with US debt ceiling talks due to restart and Federal Reserve Chair Jerome Powell signalling his preference for a meeting-by-meeting approach to future policy decisions. To begin the week, the dollar was little changed at 137.975 yen, having ended a six-day winning streak …

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• 22 May 2023 2:33 pm

  Oil steady as U.S. default risk offsets demand outlook

  

  Oil prices remained stable on Monday as concerns over the US debt ceiling weighed on optimism about demand later in the year, offsetting support from reduced supply from Canada and OPEC+ producers. Brent crude futures were up 17 cents, or 0.2%, to $75.75 a barrel by 1111 GMT, while WTI …

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• 22 May 2023 1:27 pm

  UK house prices hit new high in May as confidence returns

  

  UK house prices hit a new record high in May as the housing market continued to defy pessimistic forecasts at the start of the year, figures showed. Rightmove’s house price index showed the average price of property coming to market jumped by 1.8%, £6,647, to set a new peak of …

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• 22 May 2023 1:06 pm

  Stability of European stocks amid concerns about the US debt ceiling

  

  European stocks were little changed at the open on Monday, while concerns over an agreement on the US debt ceiling and the outlook for US and European monetary policies weighed on sentiment. The pan-European Stoxx 600 index settled after touching its highest level in more than a year on Friday. …

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• 22 May 2023 11:40 am

  The Nikkei index closed higher for the eighth day

  

  The Japanese Nikkei index closed higher on Monday, extending its gains for the eighth consecutive session, at a time when investors continue to buy local stocks with discounted prices, amid optimism about companies’ efforts to enhance investor returns. The Nikkei index reversed course, jumping 0.9 percent to 31,086.82 points, its …

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• 22 May 2023 1:13 am

  Financial Markets’ Weekly Recap, May 15-19

  

  After last week’s stalemate, US president Biden on Sunday said he believes he has the authority to use the 14th Amendment to unilaterally address the debt ceiling, but acknowledged potential legal challenges could still lead to default. He said he is looking at the 14th Amendment as to whether or …

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• 19 May 2023 11:42 pm

  Gold eyeing $1980 resistance amid hawkish Fed language

  

  Gold climbs 0.89%, trading at $1975.05 per ounce at the time of writing, as the US dollar’s strength subsides, investors are now eyeing the $1980 resistance level.Fed Chair Jerome Powell’s comments and US Treasury Sec. Janet Yellen’s remarks on Friday were sufficient to shake the market, resulting in a significant …

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• 19 May 2023 9:47 pm

  Crude oil prices retreats on debt ceiling stalemate

  

  After Republicans boycotted talks with President Biden over raising the debt ceiling, the price of oil reversed gains and fell on Friday. The US Dollar falls as demand for safe-haven assets declines as concerns over the debt ceiling ease; oil is primarily priced in USD. After House Speaker McCarthy left …

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• 19 May 2023 8:45 pm

  Powell: Recent credit stress eases pressure to hike interest rates

  

  The recent banking crisis, which resulted in stricter lending regulations, has lessened pressure to raise interest rates, according to US Fed Chair Jerome Powell on Friday. “Our policy rate may not need to rise as much as it would have otherwise,” Powell continued. In relation to market expectations, Powell stated …

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