Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 24 April 2023 8:36 pm

  Gold expected to post gains amid light US economic agenda

  

  Gold is up +0.24% on the day, the precious metal is trading at $1987.31 at the time of writing. The price of gold is fluctuating horizontally during Monday’s US trading session due to the lack of a catalyst, but it is likely to be supported by the weakening US dollar …

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• 24 April 2023 7:13 pm

  Dollar a bit weaker ahead of the US GDP data

  

  Although the dollar is still weak, losses are currently contained. This week’s significant US macroeconomic data releases could influence the value of the dollar. Technically speaking, the Dollar Index is still bearish in the foreseeable future.The stronger-than-expected S&P Global PMI surveys on Friday did not help the dollar, as the …

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• 24 April 2023 4:55 pm

  Strong Euro nears nine-year high versus Japanese yen

  

  At the start of a week that includes a widely awaited Bank of Japan meeting and the final few data releases before the Federal Reserve and European Central Bank make rate decisions in early May, the euro edged up a bit and the Japanese yen weakened. The euro was trading …

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• 24 April 2023 2:55 pm

  German business sentiment improved slightly in April

  

  Business sentiment in Germany rose slightly in April, a survey showed on Monday, supported by improved business expectations, adding to positive indicators as Europe’s largest economy hopes to avoid a recession in the winter months. The Ifo Institute stated that its business climate index read 93.6, after a revised reading …

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• 24 April 2023 1:55 pm

  Dollar is rising after its recent losses, with anticipation of interest rate decisions

  

  The dollar rose on Monday to stabilize its price after the recent losses it suffered a week ago when investors await the Bank of Japan meeting and the issuance of the latest data before the decisions of the Federal Reserve and the European Central Bank on interest rates in early …

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• 24 April 2023 1:30 pm

  European stocks are falling ahead of a busy week of corporate earnings

  

  European stocks fell on Monday, tracking their Asian counterparts, as investors await more economic data this week and the results of some major US companies, as well as prominent banks and consumer companies in Europe. The European STOXX 600 index fell 0.2 percent by 0710 GMT, while oil and gas …

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• 24 April 2023 12:38 pm

  Gold prices fell with the predominance of caution before Fed meetings

  

  Gold prices fell on Monday for the second consecutive session as investors’ focus turned to Federal Reserve meetings to clarify its strategies to raise interest rates, which could highlight any progress in taming inflation. The spot gold price fell 0.1 percent to $1,980.89 an ounce by 0613 GMT. US gold …

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• 24 April 2023 1:02 am

  Financial Markets’ Weekly Recap, April 17-21

  

  Wall Street moved in an erratic manner, ending the trading week with minor losses. The major indices retreated from their monthly highs. The mid-May rally has encountered resistance. The stock market appeared to be heading nowhere on Friday due to a lack of conviction, a week’s worth of company financial …

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• 21 April 2023 11:18 pm

  Positive US PMI data drags Euro lower

  

  During Friday’s early US session, the Euro is declining significantly versus its largest equivalent, the US dollar. Better-than-expected US S&P Global PMI figures have allayed fears of a recession and are helping to underpin the currency. As the banking crisis appears to be behind us once more, the war against …

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• 21 April 2023 9:15 pm

  US PMI reading pushes USD/JPY to fresh daily peak

  

  Amid a new round of USD purchasing, the USD/JPY quickly recovers from the weekly low. The positive US PMIs support future Fed rate hike predictions and strengthen the US dollar. Spot prices are still on course to post moderate rises for a second straight week.During the early North American session, …

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• 21 April 2023 7:37 pm

  WTI partially reverses weekly decline, advances past $78.00

  

  Prices for WTI have recovered from recent lows at $77,000. Crude oil lost four straight weeks of gains. On Friday, traders’ attitude was still negatively impacted by recession worries.Prices for WTI barrels manage to rekindle some buyer interest on Friday, moving beyond the $78.00 threshold.Following a significant rejection from post-OPEC+ …

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• 21 April 2023 6:01 pm

  US S&P Manufacturing PMI surges to 50.4 in April

  

  S&P Global Composite PMI increased to 53.5 (flash) from 52.3 in March, indicating that the private sector of the US economy continued to grow at a brisk rate in April. This figure was higher than the 52.8 market forecast.In the same time, the S&P Global Manufacturing PMI increased to 50.4 …

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• 20 April 2023 11:32 pm

  Auto earnings sound recession alarm

  

  Ford stock was down almost 4% on Thursday afternoon. Following Tesla’s results, and what Elon Musk had to say about them, concern accelerated about the state of the US economy, dragging down stocks across the auto industry.Tesla’s first-quarter gross profit margins, reported Wednesday evening, disappointed investors, coming in below 20%. …

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