Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 30 May 2023 11:25 am

  Turkish lira fell to a new record low of 20.2 per dollar

  

  The Turkish lira fell to a new record low of 20.2 against the dollar on Tuesday, extending losses incurred since President Recep Tayyip Erdogan’s victory in Sunday’s presidential run-off. The lira fell 0.5 percent from the closing level it recorded on Monday at 20.0990 pounds per dollar, which was its …

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• 30 May 2023 3:08 am

  Market Drivers – US Session – 29/05/2023

  

  Tuesday is likely to see bigger market moves after a quiet Monday. Following an agreement in principle between US President Biden and Speaker Kevin McCarthy to raise the debt limit for two years, there was more activity over the weekend than on Monday. Key Developments The debt related compromise must …

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• 30 May 2023 12:26 am

  EUR/GBP weakens on Euro’s retreat

  

  The EUR/GBP pair is resuming its downward trend, edging closer to its yearly low, signaling potential bearish momentum in the pair. The current trend remains undecided below the 0.8700 resistance, awaiting a clear direction pressured down by failing German Yields.Market awaits ECB President Lagarde’s speech and German inflation data on …

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• 29 May 2023 11:25 pm

  USD/CHF consolidates modest losses below 0.9050

  

  As a result of the US debt-ceiling deal revealed on Sunday, interest in the US dollar declines, the USD/CHF trades for a second straight trading day with losses. This has fueled a bullish market sentiment that is hated by the safe-haven dollar, the greenback. Additionally, the low volume in the …

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• 29 May 2023 10:18 pm

  GBP/USD records gains as week’s focus shifts to NFP

  

  GBP/USD records gains for the second trading day in a row. The US debt-ceiling deal favoured a positive market environment. Focus, this week, shifts to NFP data from May from the US. The GBP/USD pair trades with gains at 1.2358 and benefits from the positive market sentiment fueled by the …

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• 29 May 2023 9:30 pm

  Oil price restricted on US debt deal, holiday thin volume

  

  Oil price finds some restriction after Republicans and Democrats have agreed on a deal to extend the US government debt ceiling on Sunday. The deal means a default is unlikely and boosts demand prospects in the US. US interest rates are expected to rise further after debt deal and strong …

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• 29 May 2023 8:16 pm

  Global investors welcoming debt deal despite looming risks

  

  As politicians work to push the agreement through Congress before the new June 5 deadline, international investors are simulating the market effects of that deal.Investors predicted that a deal between the White House and House Republicans to raise the $31.4 trillion debt ceiling would prevent a disastrous American default, increase …

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• 29 May 2023 7:23 pm

  Why is gold poised to remain under pressure?

  

  The US inflation target has not been realized yet. Price pressures look too sticky and the country’s economy is showing little weakness. Therefore, the US dollar remains strong, and accordingly, gold could remain under downside pressure. Economists also see chances for further rate hikes by the US central bank more …

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• 29 May 2023 4:33 pm

  U.S. stock futures point higher after debt ceiling deal

  

  US stock futures rose in modest holiday trade on Monday as legislators in Washington reached an agreement to raise the $31.4 trillion debt ceiling and avoid a potentially catastrophic default. By 11:32 GMT, the Dow futures contract had gained 60 points, or 0.18%, the S&P 500 futures had gained 10 …

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• 29 May 2023 3:38 pm

  European shares lack momentum after debt ceiling deal

  

  European market indices fell marginally on Monday, lacking impetus in thin trade, but Wall Street futures remained optimistic after the US achieved a debt ceiling deal over the weekend. On Saturday, US President Joe Biden and senior congressional Republican Kevin McCarthy reached a tentative agreement to lift the federal government’s …

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• 29 May 2023 2:13 pm

  Turkish lira is falling to a new record, and stocks are rising after Erdogan’s victory

  

  The Turkish lira fell to a new record low against the dollar on Monday, but stocks rose after President Recep Tayyip Erdogan won re-election on Sunday, ushering his increasingly authoritarian rule into a third decade. The lira fell to 20.065 pounds per dollar in early European trading, surpassing the previous …

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• 29 May 2023 12:28 pm

  USD stabilizes with increasing expectations of interest rate hike and optimism about debt ceiling

  

  The dollar held steady on Monday amid rising expectations of a Federal Reserve hike in interest rates, despite news of a debt ceiling agreement that drove some hedge-seekers away from the greenback. The dollar recorded its highest level in six months against the Japanese currency at 140.91 yen in early …

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• 29 May 2023 10:53 am

  Asian stocks rise, Nikkei at 33-year high on debt ceiling optimism

  

  Most Asian equities rallied on Monday as markets hailed a tentative agreement reached by US legislators to raise the debt ceiling and avoid a default, with Japan’s Nikkei resuming its near-33-year highs on better risk appetite. The Nikkei 225 led Asian markets, rising 1.4% to its highest level since July …

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