Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 18 July 2023 9:50 pm

  WTI back above $75.00 post-US Retail Sales data

  

  WTI has recovered over 2% gains, reaching a high near $75.70, following weak retail sales data from the US. The weaker US dollar and dovish bets on the Fed have favored oil prices. Retail sales in the US climbed by 0.2% in June, less than predicted and 0.5% seen in …

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• 18 July 2023 8:49 pm

  What could investors expect from Q2 earnings season?

  

  US equities had a phenomenal first half of the year, with the S&P up over 17%, thanks to a strong US economy, declining inflation, and a boom in mega-cap growth businesses propelled by artificial intelligence. Investors are watching to see if the second-quarter earnings season will serve as the next …

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• 18 July 2023 7:35 pm

  US dollar stays resilient as investors digest latest US data

  

  After Monday’s unsuccessful attempt at a rebound, the US Dollar is holding steady against its main competitors’ currencies.The US Dollar Index is still varying just below 100. While industrial production decreased in June, US retail sales increased somewhat. During the first trading period of Tuesday’s American session, the dollar was …

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• 18 July 2023 3:22 pm

  The Turkish lira hit a record low before the interest rate decision

  

  The Turkish lira fell more than 2 percent, hitting a new record low against the dollar on Tuesday, amid fears that the Federal Reserve (the US central bank) will raise interest rates this week less than previously expected. The Turkish lira recorded a record low of 26.9 against the dollar, …

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• 18 July 2023 2:03 pm

  Calmness prevails in European stocks and the rise of the Swiss index thanks to Novartis earnings expectations

  

  European stock markets were calm on Tuesday as telecoms stocks fell, while Swiss stocks outperformed their regional peers after the earnings forecast for pharmaceutical company Novartis was raised. The European Stoxx 600 index settled at 457.71 points by 0711 GMT. The index took a hit on Monday after shares of …

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• 18 July 2023 12:15 pm

  Dollar near the lowest level in a year and the euro hit a 17-month peak

  

  The dollar index faltered near its lowest level in more than a year on Tuesday as investors await fresh catalysts to see if the dollar will continue to fall in the wake of last week’s softer-than-expected inflation report. The dollar index, which measures the performance of the US currency against …

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• 18 July 2023 4:54 am

  Market Drivers – US Session – July 17

  

  After data on China’s economic growth disappointed, shares of energy companies dropped as oil futures started the week poorly. WTI was down some 1.5% at $74.00 from $76.05. Crude oil prices posted moderate losses on weaker-than-expected Chinese economic data and the restart of crude oil production in Libya as protesters …

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• 18 July 2023 2:34 am

  US stocks climb as earnings season comes in focus

  

  US equities increased dramatically as a result of investors focusing on this week’s deluge of earnings reports and financial results rather than indications that China’s economic recovery is still far off.The Dow Jones Industrial Average increased by 0.2% and the S&P 500 increased by 0.4%. The tech-heavy Nasdaq Composite increased …

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• 18 July 2023 12:05 am

  More British citizens believe Brexit was a wrong decision

  

  According to the YouGov institute’s most recent survey of 2,000 Britons, a record number of Britons now believe that Brexit was a mistake.According to the macro update, which was released by Reuters, 57% of respondents believe that the decision to leave the European Union was incorrect, while only 32% support …

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• 17 July 2023 11:52 pm

  AUD/USD struggles to touch 0.6800 ahead of RBA Minutes, US Retail Sales

  

  After a two-day losing streak, the Australian dollar (AUD/USD) is under pressure, which has dampened the corrective rally from late Monday. Chinese data-related worries, dovish fears about the Reserve Bank of Australia (RBA), and market inflation all contribute to the pair’s poor performance. The Fed’s policy SPECULATIONS and market-wide cautious …

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• 17 July 2023 10:37 pm

  GBP/USD retreats on Chinese economic concerns

  

  The GBP/USD pair declines by 0.08% as investors flee to shelter in response to poor Chinese GDP statistics; the exchange rate drops below 1.3100. Despite indications of an impending UK recession, expectations of a 50 bps rate increase by the Bank of England in August keep things tense.Investors assess the …

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• 17 July 2023 9:13 pm

  Canada’s dollar volatile as Crude Oil declines

  

  The Canadian dollar is trades in volatile ups and downs against its US counterpart after hitting a technical ceiling and a decline in Oil prices. Oil falls from weaker-than-expected Chinese growth data for Q2 and the reopening of Libya’s largest Oil field. A thick knot of technical support levels just …

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• 17 July 2023 7:45 pm

  Why could gold break into all-time high in 2024?

  

  Gold is expected to move sideways around $1,950 until the end of 2023 and beyond, according to economists. By the end of the year, there may be some scope for an upward move to $2,000 due to the US central bank’s sharp rate hikes. This could indicate that the American …

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