Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 6 September 2023 3:19 pm

  Kremlin: Putin, Saudi Crown Prince confirm reducing oil supply ensures market stability

  

  The Kremlin said on Wednesday that Russian President Vladimir Putin spoke by phone with Saudi Crown Prince Mohammed bin Salman and that the two leaders indicated that the latest agreements on reducing oil supplies ensure stability in global energy markets. Saudi Arabia and Russia announced on Tuesday the extension of …

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• 6 September 2023 1:55 pm

  Gold rises as the dollar and US Treasury yields fall

  

  The price of gold rose from its lowest level in a week on Wednesday, with US Treasury bond yields declining and the dollar abandoning the highest levels reached in the previous session, but expectations of keeping interest rates high limited the gains of bullion. Spot gold rose 0.1 percent to …

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• 6 September 2023 12:50 pm

  European stocks continue their losses affected by fears of an economic slowdown

  

  European stocks extended their losses for the sixth straight session on Wednesday as concerns about the global economic slowdown and rising crude oil prices leading to inflationary pressures made investors reluctant to take risks. By 0713 GMT, the STOXX 600 index was down 0.5 percent, hovering near its lowest level …

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• 6 September 2023 11:34 am

  Japanese stocks continue their gains

  

  Japanese stocks closed at new highs on Wednesday as the weakest yen since November supported automakers, while energy stocks gained amid rising crude oil prices. The Nikkei index closed 0.62 percent higher at 33,241.02 points, its highest closing level in a month. The Topix index also ended trading up 0.62 …

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• 6 September 2023 12:02 am

  GBP/USD slides on weaker UK business activity

  

  Amid gloomy UK PMI data and a slowing global economy, the pound sterling falls. The GBP/USD pair declines 0.42% to trade at 1.2567 as a result of the UK’s S&P Global/CIPS Composite PMI falling to 48.6, entering contraction zone for the first time since January. The pair is trading at …

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• 5 September 2023 10:45 pm

  EUR/GBP retreats following Eurozone’s PPI, PMIs figures

  

  This week, the EUR/GBP pair has lost around 0.42%, dropping to 0.8535. As of this writing, it is trading at 0.8531 after the Eurozone’s PPI figure for July above expectations while the August Services PMI came in below expectations.The same month’s British PMI numbers were better than anticipated, although they …

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• 5 September 2023 9:51 pm

  Pessimistic crypto outlook could mean accumulation opportunities

  

  Due to waning market sentiment and declining momentum, it is anticipated that Bitcoin will drop below the $24,995 threshold. The $1,630 support level is tenuously holding, putting Ethereum price at risk of a 5% decline for liquidity collection. If the current confidence holds, ripple price could break through the $0.5667 …

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• 5 September 2023 8:55 pm

  What should Investors know about Australia’s soft landing?

  

  The chances of a soft landing are getting better, but the Australian economy still seems to be in a holding pattern. It’s far from certain that the unemployment rate will stay below 4%, that wages will catch up to or surpass inflation, or even that the federal budget will continue …

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• 5 September 2023 7:45 pm

  Fed’s Mester not expecting interest rate cut early in 2024

  

  On Tuesday, another round of Fed speakes are attracting the attention of traders, investors and market participants. “We will certainly not continue to raise interest rates until inflation has already fallen to 2%,” Cleveland Federal Reserve President Loretta Mester said.“Nor will we wait to lower interest rates until inflation is …

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• 5 September 2023 3:50 pm

  SoftBank’s Arm aims for over $52 billion valuation in biggest US IPO of the year

  

  SoftBank Group’s Arm is aiming for a valuation of more than $52 billion in its initial public offering, making it the year’s largest stock market debut. According to a regulatory filing on Tuesday, SoftBank (TYO:9984) is issuing 95.5 million American depository shares of the Cambridge, United Kingdom-based company for $47 …

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• 5 September 2023 2:08 pm

  Futures fall as rising yield, China service data weigh

  

  Higher Treasury yields knocked on growth stocks in the United States on Tuesday, as a slowing pace of rise in China’s services activity fueled concerns about demand in the world’s second-largest economy. The 10-year Treasury note yield has risen to 4.21% ahead of additional economic data and the Federal Reserve’s …

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• 5 September 2023 12:41 pm

  Concerns linked to China bring European stocks to their lowest level in a week

  

  European stocks fell on Tuesday to their lowest levels in a week, as weak economic data in China stoked fears about a slowing recovery while investors awaited the release of local data that could provide clues to the European Central Bank’s plans for monetary tightening. The European STOXX 600 index …

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• 5 September 2023 11:52 am

  Oil prices varied as support from China’s steps to revive the economy receded

  

  Oil prices were mixed on Tuesday as support from measures taken by China to support its economy faded, countering the impact of expectations for an extension of supply cuts by two major OPEC+ members, Saudi Arabia and Russia. Brent crude futures for November delivery fell ten cents, or 0.11 percent, …

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