Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 3 July 2023 4:09 pm

  Russia will cut oil supplies in August by 500 thousand barrels per day

  

  Russian Deputy Prime Minister Alexander Novak said Monday, July 3, that Russia will reduce its oil exports by 500,000 barrels per day in August. “As part of efforts to ensure that the oil market remains balanced, Russia will voluntarily reduce its oil supplies in August by 500,000 barrels per day …

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• 3 July 2023 2:57 pm

  Gold is losing some luster due to the strength of the dollar

  

  Gold prices fell on Monday as a stronger dollar reduced the precious metal’s safe-haven appeal and investors awaited non-farm payrolls data in the United States and minutes from the latest Federal Reserve meeting to be published later this week. Spot gold prices fell 0.4 percent to $1911.70 an ounce by …

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• 3 July 2023 1:31 pm

  Japan’s Nikkei index closed at a 33-year high

  

  Japan’s Nikkei index closed at a 33-year high on Monday, with machinery makers leading gains, while a quarterly central bank survey indicated a recovery in business activities. The Nikkei index rose 1.7 percent to 33,753.33 points, the highest closing level since March 1990. The broader Topix index rose 1.41 percent …

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• 3 July 2023 12:42 pm

  The continued weakness of Yen and the consolidation of Dollar

  

  The yen remained below the 145 level against the psychologically important dollar on Monday, while the US currency held firm against its most important competitors after economic data last week showed a slight decline in inflation and consumer spending in the United States. The yen fell 0.09 percent to 144.45 …

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• 3 July 2023 11:05 am

  Gold is stable due to the strength of the dollar and the market is awaiting important economic data

  

  Gold prices changed slightly on Monday, as the strength of the US dollar affected the attractiveness of the yellow metal, at a time when markets were awaiting important economic data to obtain more information about the Federal Reserve’s plans to raise interest rates in the future. Gold prices settled in …

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• 3 July 2023 10:30 am

  European stock futures edge lower; manufacturing PMIs in focus

  

  European stock markets are anticipated to begin modestly down on Monday, reversing some of last week’s solid gains on a dip in US inflation as investors analyse mixed Chinese factory data. At 06:00 GMT, the DAX futures contract in Germany was 0.1% lower, the CAC 40 futures contract in France …

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• 3 July 2023 9:24 am

  Oil prices fell amid fears of a global economic slowdown

  

  Oil prices fell in early Asian trading on Monday, as fears of a global economic slowdown and the possibility of the Federal Reserve raising interest rates were met with expectations of a reduction in supplies in light of the cuts announced by the OPEC + group. Brent crude futures fell …

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• 2 July 2023 3:29 am

  Financial Markets’ Weekly Recap, June 26-30

  

  Wagner Group mutiny provided temporary support to equity markets, but the fundamental pressure continued to crumble. Stocks experienced a momentary lift, but the economic slowdown in the USA and higher rates caused lower prices later. A correction in US equities is likely due to more than just a technical issue. …

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• 1 July 2023 12:30 am

  US dollar, T-yields slide post PCE data

  

  The US dollar and Treasury yields retreated in May due to slowed consumer spending, but futures predict the Fed will resume raising interest rates next month to quell inflation. The core Personal Consumption Expenditures (PCE) price index fell to 4.6%, down from expectations of 4.7%. The PCE index increased by …

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June, 2023

• 30 June 2023 11:30 pm

  NFP growth expected to moderate in June

  

  The official June employment report for the US will be made available next Friday. The expected rise in payrolls is 200K, according to the market. Analysts anticipate a gain of 245K. Investors’ attention will therefore turn to consumers in a week that includes a wealth of earnings and data relating …

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• 30 June 2023 9:10 pm

  AUD/USD rises post US PCE data

  

  As US inflation shows signs of easing, the AUD/USD pair rises 0.66% and targets 0.6700, weakening the US dollar. The AUD is supported by lowered expectations of aggressive Fed rates, despite poorer Chinese data and lower CPI.As the end of the week, the month, and the quarter draws near, the …

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• 30 June 2023 8:34 pm

  Will jobless claims, Powell’s recent remarks shape forex trading?

  

  US weekly jobless claims data came volatile this week. Markets have been using them as a guide to identify the US job market’s turning point for a few weeks now. In the early days of the epidemic, the same thing took place the other way around. Relying on a weekly …

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• 30 June 2023 7:42 pm

  Bitcoin holds above $30,000 despite Biden’s remarks on crypto tax

  

  US President Joe Biden said that the federal tax system will eliminate loopholes for crypto traders. Bitcoin price held above the $30,000 psychological level, undeterred by Biden’s speech. The most famous crypto asset is trading around $30,005 at the time of typing. The Wall Street Journal has previously reported on …

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