Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 11 July 2023 3:02 pm

  Dollar falls to its lowest level in two months and pound rises

  

  The dollar fell to a two-month low on Tuesday after Federal Reserve officials signaled the tightening cycle was coming to an end, while sterling rose to a 15-month high after more-than-expected wage growth in Britain. Several Federal Reserve officials said on Monday that the bank would likely need to raise …

  Read More »
• 11 July 2023 1:18 pm

  Inflation in Germany changes direction and rises in June

  

  Inflation rose in Germany in June, snapping a steady decline since the beginning of the year. Data from the Federal Statistical Office on Tuesday showed consumer prices, harmonized to facilitate comparison with other countries in the European Union, rose 6.8 percent year-on-year in June. Core inflation, which strips out volatile …

  Read More »
• 11 July 2023 11:57 am

  Nikkei gives up most of its gains after profit-taking

  

  Japan’s Nikkei index rose slightly at the close on Tuesday, snapping losses for five consecutive sessions, but gave up most of its early gains as investors sold shares to take profits. The Nikkei index rose 0.04 percent to 32,203.57 points at the close, while the broader Topix index reversed its …

  Read More »
• 11 July 2023 11:09 am

  Threads overtakes ChatGPT as the world’s fastest-growing app

  

  New Meta app Threads dethrones OpenAI’s ChatGPT and becomes the world’s fastest growing app in terms of users. Since Threads launched less than a week ago, the Instagram-related app has seen huge growth in users, until it surpassed 100 million subscribers on Monday. Mark Zuckerberg, head of Meta, confirmed that …

  Read More »
• 11 July 2023 9:42 am

  Türkiye gives the green light to Sweden’s bid to join NATO

  

  Turkish President Recep Tayyip Erdogan agreed on Monday to send Sweden’s request to join NATO to parliament, in a move that appears to end months of debate over the issue that has affected the military alliance while the war in Ukraine drags on. Sweden and Finland applied for NATO membership …

  Read More »
• 11 July 2023 8:48 am

  Oil rises on the back of OPEC+ cuts and traders focus on economic data

  

  Oil prices rose on Tuesday, recouping some of the previous session’s losses, with traders focusing on Saudi Arabia and Russia cutting production and anticipating economic data that may help ascertain the demand for crude. Brent crude futures rose 33 cents, or 0.4 percent, to $78 a barrel by 0050 GMT, …

  Read More »
• 11 July 2023 2:47 am

  Market Drivers – US Session – 10/07/2023

  

  After a cautious opening due to inflation data from China that suggested weaker demand, Wall Street closed in the green. The Nasdaq increased by 0.18% while the Dow Jones increased by 0.62%. Less than 1% was lost in the price of crude oil, while gold finished level at $1,925 per …

  Read More »
• 11 July 2023 2:18 am

  US stocks cautiously rise ahead of CPI data

  

  As investors analysed Chinese economic data, a significant US inflation report, and corporate profits on Monday, Wall Street equities increased marginally but oil prices and the currency declined. The S&P 500 increased by 0.24%, the Nasdaq Composite increased by 0.18%, and the Dow Jones Industrial Average increased by 0.62%. The …

  Read More »
• 11 July 2023 1:45 am

  EUR/GBP consolidates during late US session

  

  As the Bank of England’s hawkish stance became increasingly apparent, the EUR/GBP pair advanced. The US dollar’s decline gave the GBP a lift, and the Euro gave way to the Pound Sterling as long-term stagnation in the Eurozone looked certain.The EUR/GBP pair is now up 0.12% for the day and …

  Read More »
• 10 July 2023 11:45 pm

  Crypto companies ask Democrats for easier legislative stance

  

  Bothered by a US Securities and Exchange Commission crackdown, cryptocurrency companies are renewing their efforts on Capitol Hill to reap support for legislation that they hope will control the organization and provide the sector regulatory clarity.According to 6 executives, the Blockchain Association, Chamber of Digital Commerce, Crypto Council for Innovation, …

  Read More »
• 10 July 2023 10:51 pm

  2023’s commodities decline could stabilize in H2

  

  Citibank analysts say commodities have underperformed other asset classes so far this year, but the decline may be coming to an end. The Bloomberg Commodity Index is down 9.3% since the start of the year, while equities, government bonds and corporate bonds are up. The Bloomberg Commodity Index posted a …

  Read More »
• 10 July 2023 8:45 pm

  Fed’s Daly signals 2 further rate hikes this year

  

  Commenting on the Federal Reserve’s policy outlook, “we’re likely to need a couple more rate hikes over the course of this year to really bring inflation sustainably back to the Fed’s 2% goal,” San Francisco Fed President Mary Daly said on Monday.The US Dollar Index stays on the back foot …

  Read More »
• 10 July 2023 7:35 pm

  Fed’s Barr: A lot of progress on inflation has been made

  

  Fed Vice Chairman Michael Barr said on Monday that inflation was still too high but acknowledged significant progress had been made. “We are very focused on getting inflation down to target,” Barr said.Barr’s comments do not directly affect the US dollar’s performance against major currencies. At the time of writing, …

  Read More »