Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 18 April 2023 4:56 am

  Gold recovers on US dollar’s correction

  

  A slight pullback in the USD Index coincided with an effort at a recovery in the gold price, which scaled to close to $1,994.60. It would not be reasonable to view Gold’s upward trend as a reversal given the strong odds on another Fed rate hike.The Fed’s Beige Book will …

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• 18 April 2023 3:11 am

  USD/CAD rebounds on stronger US dollar, Oil price

  

  After a two-day recovery from its lowest points since mid-February, the USD/CAD steadily climbs upward. The US dollar applauds hawkish Fed expectations and optimistic yields to continue the recovery from the previous week. The present oil price is affected by the stronger dollar, concerns about the economy’s recovery, and apprehension …

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• 18 April 2023 2:00 am

  US equities advance following earliest batch of corporate earnings

  

  Monday’s trading session saw an increase in US stocks as another round of crucial earnings started. Following the fall of Silicon Valley Bank last month, investors are still paying close attention to financial institutions’ earnings. The technology-heavy Nasdaq Composite (IXIC), the S&P 500 (GSPC), and the Dow Jones Industrial Average …

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• 18 April 2023 12:18 am

  Why is Wall Street worried about US debt ceiling?

  

  House Speaker Kevin McCarthy traveled to the New York Stock Exchange Monday to deliver a warning to Wall Street about the debt ceiling crisis.There is a growing chance Washington “will bumble into the first default in our nation’s history,” the Republican said on his 100th day as House Speaker, adding …

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• 17 April 2023 10:43 pm

  USD/JPY gains momentum on surging US Treasury yields

  

  The USD/JPY pair hit new five-week highs at 134.57; it is currently trading at 134.42, with bulls seeking 135.00. The USD/JPY oscillators favour more upward movement. Below 134.00, there are dangers on the downside that could push the USD/JPY rate as low as 133.00. Following the Federal Reserve (Fed) policymakers’ …

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• 17 April 2023 9:47 pm

  Gold extends slide amid dollar strength

  

  Gold price resumed downside on Monday, fall to the $1,980$ area. The Us Dollar rises across the board, boosted by higher US yields.Gold price resumed the downside on Monday, breaking under $1,990. XAU/USD bottomed at $1,980 reaching the lowest level in a week. The precious metal is trading at 1995.70, …

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• 17 April 2023 7:24 pm

  EUR/USD falls Fed’s pivot speculations

  

  The EUR/USD pair falls for the second straight day, as sellers are eyeing 1.0800. US New York Empire State Manufacturing Index climbed for the first time in five months. The pair losses traction on technical reasons and on a stronger US Dollar (USD, as speculations that the US Federal Reserve …

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• 17 April 2023 6:32 pm

  Explainer: What does US warning over Russian oil price cap mean?

  

  The US Treasury has warned US companies of possible evasions of the Russian petroleum price cap of crude oil exported through the Eastern Siberia Pacific Ocean (ESPO) pipeline and ports in eastern Russia. The Office of Foreign Assets Control (OFAC) at the department said it is aware of reports that …

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• 17 April 2023 5:18 pm

  Oil slips as recession fears loom over economic data

  

  Oil prices moved lower on Monday as investors deliberated over a likely May interest rate hike by the U.S. Federal Reserve, which might hamper economic recovery hopes, despite Chinese GDP data was expected to augur well for demand growth. Brent crude futures were down 55 cents or 0.6% at $85.76 …

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• 17 April 2023 2:30 pm

  European stocks rise ahead of earnings announcements from more large US banks

  

  European stocks rose on Monday as investors expected major US banks to continue reporting strong quarterly earnings this week, while also looking forward to the Federal Reserve ending its interest rate hike cycle. The European STOXX 600 index rose 0.3 percent after hitting its highest level in more than a …

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• 17 April 2023 1:41 pm

  Oil stabilized amid anticipation of Chinese GDP data

  

  Oil prices stabilized on Monday, amid anticipation among investors for Chinese economic data, in search of signs of recovery in demand in the second-largest oil consumer in the world. Brent crude futures fell seven cents to $86.24 a barrel by 0746 GMT, and US West Texas Intermediate crude fell six …

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• 17 April 2023 12:55 pm

  Asian stocks flat, Chinese markets rise on recovery hopes

  

  Most Asian stocks moved slightly on Monday amid hawkish comments from Federal Reserve officials, while Chinese markets outperformed as the People’s Bank maintained medium-term lending rates ahead of a swathe of data indicators. China’s Shanghai Shenzhen CSI 300 and Shanghai Composite indexes climbed nearly 0.8% each after the PBOC maintained …

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• 17 April 2023 11:52 am

  Dollar rose with the increase in expectations of raising interest rates

  

  The dollar rose on Monday and hit a one-month high against the yen after strong US retail sales and impressive earnings from Wall Street banks increased market expectations that the Federal Reserve will raise interest rates in May. Data released on Friday showed that so-called core retail sales, which exclude …

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