Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 11 April 2023 12:53 pm

  Oil rises as investors balance between OPEC+ production cuts and interest rate concerns

  

  Oil prices rose on Tuesday as market participants assessed the OPEC+ decision to cut production, which would reduce supplies in the market, against concerns about raising interest rates, which is likely to hurt demand. Investors are awaiting this week a group of reports about inflation, supply and demand in the …

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• 11 April 2023 3:27 am

  Market Drivers – US Session 10/04/2023

  

  Investors are still analyzing the most recent US employment statistics. Chinese consumer and producer price index data for March will be made public on Tuesday in anticipation of the US CPI on Wednesday. Easter Monday saw the US Dollar Index (DXY) continue to improve and rise, reaching a weekly high …

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• 11 April 2023 2:25 am

  Fed’s Williams: Rate hiking pace did not cause banking turmoil

  

  According to the Federal Reserve Bank of New York President “Financial system troubles that drove the central bank to provide large amounts of credit to banks is not collateral damage from the Fed’s aggressive effort to lower inflation.”John Williams, who is also Fed’s Vice Chairman of the FOMC Committee, said …

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• 11 April 2023 1:12 am

  EUR/USD crosses 1.0860 ahead of EU retail sales, American inflation

  

  The Dollar Index has corrected, and the EUR/USD pair has surged above the key resistance level of 1.0860. This year, Fed Williams projects inflation to be 3.75% and growth to be less than 1%.A decline in retail sales across the Eurozone is inadequate to support the ECB’s neutral stance. In …

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• 10 April 2023 11:32 pm

  Can calls for de-dollarization hurt the US currency?

  

  Most observers and analysts assert that proposals for de-dollarization can undoubtedly be detrimental to the US dollar. Once regarded as the sole currency for international trade, the American dollar is losing its appeal and being supplanted by other currencies. The United States today faces a growing wave of global de-dollarization …

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• 10 April 2023 10:21 pm

  AUD/USD under pressure post-NFP data

  

  The monthly employment report from the United States was sufficient to resurrect worries about economic growth and the possibility of entering a recession. After a long weekend, Australia will announce Westpac Consumer Confidence.The AUD/USD pair falls for a sixth day in a row close to the 0.6600 level. After Wall …

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• 10 April 2023 9:37 pm

  GBP/USD trading below 1.2400 on misty week’s start

  

  Next Thursday, the UK will reveal crucial macroeconomic data. On the strength of a gloomy market environment, the American Dollar is gaining. With selling pressure present, the GBP/USD pair may decline towards 1.2273. GBP/USD is currently trading at approximately 1.2380 after making a minor recovery from an intraday low of …

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• 10 April 2023 7:01 pm

  ECB’s de Cos: Core inflation likely continue high in the Eurozone

  

  According to Reuters, policymaker for the European Central Bank (ECB) Pablo Hernandez de Cos stated on Monday that core inflation in the Eurozone is expected to continue high for the remainder of the year.“There is still territory to be covered in terms of monetary policy,” de Cos continued, “if the …

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• 10 April 2023 4:59 pm

  Oil edges higher as tighter supply looms

  

  After climbing for three weeks straight, oil prices increased little on Monday as anticipation of supply reductions from Saudi Arabia and other OPEC+ members outweighed worries about slowing global growth that would reduce demand for gasoline. After OPEC+, the Organization of the Petroleum Exporting Countries (OPEC) and allies including Russia, …

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• 10 April 2023 4:09 pm

  U.S. stock futures hover near flatline amid key economic data

  

  U.S. stock futures were largely steady on Monday as traders re-entered the market after the Easter weekend and faced a slew of important economic reports that might influence the direction of Federal Reserve monetary policy going forward. At 11:00 GMT, the Nasdaq 100 futures were down 16 points or 0.13%, …

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• 10 April 2023 2:25 pm

  Gold is down 1% after the US jobs data

  

  Gold prices fell by 1 percent to below $2,000 on Monday after US jobs data showed continued strength in the labor market, which reinforced expectations that the Federal Reserve would raise interest rates again in May. Spot gold fell 0.8 percent to $1,992.97 an ounce by 0613 GMT. US gold …

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• 10 April 2023 1:23 pm

  Japan stocks closed higher, supported by global economic expectations

  

  Japanese stocks rose at the close Monday, April 10, with the yen falling slightly, supported by hopes about the global economy’s ability to withstand rising inflation and raising interest rates, but stock movements were limited ahead of the first press conference of Bank of Japan Governor Kazuo Ueda. The Nikkei …

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• 10 April 2023 12:08 pm

  Oil rose in early Asian trading

  

  Oil prices rose in early Asian trading on Monday, supported by expectations of production cuts targeted by OPEC + starting in May, but gains were limited by concerns about the global economic outlook. Brent crude futures rose 13 cents, or 0.2%, to $85.25 a barrel by 2356 GMT, while US …

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