Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 18 May 2023 8:43 pm

  Oil suffers losses amid stronger US dollar, rising inventories

  

  The price of oil is trading with significant losses, while the US dollar managed to consolidate its performance on the back of the Federal Reserve’s statements adopting tightening monetary policy, and the uncertainty about the outcome of the US debt ceiling negotiations.Latest data revealed a larger-than-expected rise in crude inventories, …

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• 18 May 2023 7:37 pm

  BoC: effects of banking sector stress were limited

  

  The Bank of Canada has released its Financial System Review (for 2023), which expresses increased concern compared to last year about the ability of households to pay their debts.In the document, the BoC noted that the spillover effects on Canada from recent stress in the global banking sector have been …

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• 18 May 2023 4:20 pm

  Oil prices broadly stable as all eyes on US debt talks

  

  After rising the previous day on optimism about US gasoline consumption, oil prices remained essentially flat on Thursday as traders waited for indications of progress in discussions to lift the US debt ceiling. As of 1142 GMT, Brent oil futures were down 13 cents, or 0.2%, to $76.83 a barrel. …

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• 18 May 2023 3:39 pm

  Alibaba’s fourth-quarter revenue rises 2%

  

  Alibaba Group Holding Ltd said on Thursday that its fourth-quarter sales increased by 2%, falling short of forecasts. The 208.20 billion yuan ($30.12 billion) in revenue for the three months ended March compared to a Refinitiv average forecast of 210.3 billion yuan based on 26 analysts. Chinese consumer spending has …

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• 18 May 2023 12:59 pm

  European stocks rose amid optimism about an agreement to raise the US debt ceiling

  

  European shares started higher on Thursday, reflecting a sense of optimism on Wall Street, on the back of indications that Washington is close to reaching an agreement on raising the US debt ceiling and avoiding default. By 0708 GMT, the pan-European STOXX 600 index was up 0.4%. Auto and technology …

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• 18 May 2023 11:16 am

  Dollar is near the highest level in 7 weeks, amid optimism about the debt ceiling talks

  

  The dollar settled near a seven-week high on Thursday after positive indications from US President Joe Biden and Republican House Speaker Kevin McCarthy on debt ceiling talks. On Wednesday, Biden and McCarthy confirmed their intention to reach an agreement soon to raise the government debt ceiling of $ 31.4 trillion, …

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• 18 May 2023 10:42 am

  Oil prices are falling after the rise in US inventories

  

  Oil prices fell on Thursday amid concerns about oversupply, after rising nearly 3 percent in the previous session. Brent crude futures fell 24 cents to $76.72 a barrel. US West Texas Intermediate crude also fell 21 cents to $72.62 a barrel. Both benchmarks rose nearly 3 percent on Wednesday amid …

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• 18 May 2023 10:40 am

  Gold is tepid as US debt ceiling talks dominate the market mood

  

  Gold prices moved slightly on Thursday after a rally in the dollar and increased optimism about talks to raise the US debt ceiling dampened the yellow metal’s safe-haven appeal. The spot gold price remained unchanged at $1,979.76 an ounce by 0445 GMT. US gold futures fell 0.1 percent to $1,982.60. …

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• 18 May 2023 2:48 am

  Market Drivers -US Session – 17/05/2023

  

  Wall Street indices increased by more than 1%, but the US dollar declined as market mood improved. But the US dollar received support from higher yields. The odds of a rate hike in June increased due to positive US economic statistics, optimism about a debt ceiling agreement, and a decrease …

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• 18 May 2023 2:29 am

  Guindos: Tightening Mostly Done, But ECB Still Has A Way To Go

  

  The European Central Bank has completed most of its historic monetary-tightening campaign but there remains some ground to cover, according to Vice President Luis de Guindos.Without revealing where he sees the peak in interest rates, Guindos said Wednesday that future ECB decisions will hinge on data in the coming months. …

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• 18 May 2023 12:19 am

  Target’s earnings better than feared as shoppers focus on basics

  

  Target Corporation climbed on Wednesday after seeing a brief decline following the Q1’s earnings report, as analysts noted that the results were better than pessimistic projections had suggested.Target’s sales declined in the most recent quarter as consumers ceased routinely splurging on trendy clothing, home goods, and other things that account …

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• 17 May 2023 11:09 pm

  After sliding $100, could gold touch fresh highs?

  

  At the time of writing, the price of gold ranges between $1983.20 to $1983.65 per ounce. According to analysts who are long active gold at $1994/oz, the market selloff in gold is almost over, and prices will next reach new all-time highs as they anticipate imminent selling exhaustion in precious …

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• 17 May 2023 10:07 pm

  WTI soars 3% on optimistic IEA forecast amid debt ceiling talks

  

  In the second half of 2023, the International Energy Agency forecasts a 2 million bpd supply deficit. The rise in oil prices is a result of positive developments in the US debt ceiling negotiations. Due to a slowdown in China’s economic growth, US crude oil prices are rising despite rising …

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