Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 7 July 2023 1:50 am

  USD/CAD rises to multi-week highs on hawkish stance

  

  On Thursday, the USD/CAD pair increased by more than 0.60%, moving near the 1.3370 level. On Thursday, the USD/CAD gained traction and surged to 1.3370, its highest level since mid-June. However, despite continuing to trade in the red, the DXY index has recovered some of its daily losses and is …

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• 7 July 2023 1:08 am

  NFP Preview: Will markets’ optimism on key data be right?

  

  The majority of economists tend to be more optimistic when it comes to the number of jobs added in the US last month. However, that could be an overcorrection due to continually underestimating the labour market’s strength this year. However, there are other elements that make forecasting Friday’s release a …

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• 6 July 2023 10:39 pm

  WTI declines as the US dollar strengthens on US labour data

  

   WTI crude declines by more than 1% as the dollar-denominated commodities are hurt by a stronger US dollar and concern about Fed tightening. Mixed labour market indicators from the US and increased business activity heighten the likelihood of a rate hike in June. Fears of a recession brought on by …

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• 6 July 2023 9:45 pm

  US stocks still impacted by negative sentiment post FOMC minutes

  

  US stocks slid during the US trading session after strong labour data spurred fears around further interest rate hikes by the US central bank, reviving concerns about the impact of those hikes on the economy.Both the S&P 500 and the Dow Jones Industrial Average, which plummeted by as much as …

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• 6 July 2023 8:39 pm

  After 30 million sign-ups, could Meta’s Threads be Twitter killer?

  

  Meta launched its brand new app; Threads and reaped 30 million sign-ups as of Thursday morning. The app is available in 100 countries and over 30 languages via Apple’s iOS and Android. Threads is the latest platform launched in recent months to unseat Twitter as the go-to app for real-time, …

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• 6 July 2023 7:34 pm

  JOLTS Job Openings Lower Than Expected

  

  The number of job openings on the last business day of May read 9.8 million according to the US Bureau of Labor Statistics. This reading followed 10.3 million openings in April (revised from 10.1 million) came in below the market expectation of 9.93 million. “Over the month, the number of …

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• 6 July 2023 3:12 pm

  Wall Street futures slide on rate hike jitters; Meta rises

  

  As investors analysed the minutes of the Federal Reserve’s June meeting, Wall Street futures declined on Thursday. However, Meta defied the trend by launching Threads, a Twitter-like app, and defying the decline in rate-sensitive technology and growth businesses. The previous day saw a decline in U.S. market indexes as the …

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• 6 July 2023 2:07 pm

  OPEC Secretary General expects the organization’s market share to rise to 40% by 2040-2045

  

  Al-Arabiya channel quoted the Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC) Haitham Al-Ghais as saying on Thursday that he expects the organization’s market share to rise to 40 percent between 2040-2045. He added that this will happen “after a decrease in production from countries outside the OPEC …

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• 6 July 2023 1:11 pm

  European stocks fall under the weight of the Fed’s tendency to tighten and US-Chinese tension

  

  European stocks fell nearly 1 percent on Thursday, as growing fears of an economic slowdown and further hikes in global interest rates dented risk appetite, along with the impact of an escalating trade battle between China and the United States. The European Stoxx 600 index fell 0.8% by 0717 GMT, …

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• 6 July 2023 12:09 pm

  Nikkei closes at its lowest level in more than a week as Socionext shares plunged

  

  Japan’s Nikkei average closed Thursday at its lowest level in more than a week, dragged down by shares of chip-related companies, with Socionext falling to a daily low after its largest shareholders sold their entire stake in the fast-growing chip design company. The Nikkei fell 1.7 percent to close at …

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• 6 July 2023 11:20 am

  Gold stabilizes as investors await US economic data

  

  Gold settled Thursday, July 6, as investors await a set of US economic data that may affect the course of the US Federal Reserve’s monetary policy, after publishing the minutes of its June meeting, which supported expectations of raising interest rates for a longer period. By 0241 GMT, gold settled …

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• 6 July 2023 4:03 am

  Binance’s regulatory hardship in Australia drags BNB price lower

  

  Binance native token BNB fell to $241. Binance’s now-defunct local derivatives business is undergoing a probe led by Australia’s financial markets regulator. In April, Binance applied for cancellation of its derivatives business license and continued operations of the spot exchange. The Australian financial regulator has searched Binance’s offices in the …

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• 6 July 2023 3:52 am

  Market Drivers – US Session – 05/07/2023

  

  US markets moderately retreated on the back of tensions between China and the US, as well as following reports of softer economic activity. The Chinese Caixin Services dropped more than expected, and Japanese, Australian, and Eurozone PMIs were revised lower. Additionally, US Factory Orders rose below expectations.Economic DataUS data showed …

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