Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 27 June 2023 8:05 pm

  Gold declines on surprising positive US data

  

  Gold has declined due to positive US data, including durable goods orders and consumer confidence data. The gold price has retreated after hitting a daily high of $1930.66 due to overall upbeat data from the US, demonstrating the economy’s resilience despite higher borrowing costs set by the US Fed. Gold …

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• 27 June 2023 2:48 pm

  European stocks rise, supported by gains in the mining sector

  

  European stocks rose on Tuesday, supported by gains in the mining sector after hopes stemming from an upbeat outlook for the Chinese economy sent metals prices higher, while JD Sports shares fell even after the British sportswear retailer maintained its earnings forecast. The pan-European Stoxx 600 index rose 0.5 percent …

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• 27 June 2023 1:50 pm

  Oil drops ahead of the release of US inventory data

  

  Oil prices fell on Tuesday ahead of data that will shed light on Americans’ appetite for fuel during the summer driving season, with the price structure of benchmark Brent crude signaling that the bulls are retreating. And by 0916 GMT, Brent crude futures fell 41 cents, or 0.6 percent, to …

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• 27 June 2023 12:48 pm

  Japanese Nikkei index recorded the longest streak of losses in 2023

  

  Japan’s Nikkei index recorded its longest losing streak this year on Tuesday, with shares of many of the country’s biggest technology companies falling, trailing their US counterparts at the end of Monday’s trading. Despite the continued dominance of profit-taking sales after the Nikkei index reached a peak of 33 years …

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• 27 June 2023 10:55 am

  The dollar rises ahead of US data

  

  The dollar maintained its gains against other major currencies on Tuesday, amid great tension in Russia and traders’ anticipation of US data that may determine the timing of interest rate hikes. Russia witnessed at the beginning of the week a failed rebellion, a crisis that pushed the dollar to a …

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• 27 June 2023 9:17 am

  Oil is rising as concerns about supply overshadowed concerns about supply

  

  Oil prices rose on Tuesday for the second consecutive session, as worries about political instability in Russia and possible supply disruptions outweighed concerns about global demand. Brent crude futures rose six cents to $74.24 a barrel, while US West Texas Intermediate crude futures rose ten cents to $69.47 a barrel. …

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• 27 June 2023 2:34 am

  Market Drivers – US Session – 26/06/2023

  

  Gold prices peaked at $1,937 and then pulled back toward $1,920. Silver rose 1.50% and approached $23.00. Cryptocurrencies fell modestly, with Bitcoin holding above $30,000. No key data is expected during the Asian session. Later, on Tuesday, the US will report Durable Goods Orders and Canada will release inflation data. …

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• 27 June 2023 1:56 am

  While reacting to hawkishness, is gold still sensitive to geopolitical events?

  

  The gold market is expected to end June down by around $47, its worst month since February. The precious metal is reacting to central banks doubling down on hawkish rhetoric and ignoring Russia’s turmoil. Some analysts see geopolitics playing a more significant role in driving the gold price. After a …

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• 26 June 2023 10:44 pm

  Wall Street slides on uncertainty around rate hike outlook

  

  On Monday, US stocks dipped a little bit as investors fretted about the effects of more interest rate hikes on the economy. The biggest losers were technology and megacap sectors.The markets’ response to the weekend’s foiled uprising by Russian mercenaries, which prompted doubts about President Vladimir Putin’s future and worries …

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• 26 June 2023 9:48 pm

  Crude oil, NatGas prices surge after turmoil in Russia over weekend

  

  Late in the North American session, US crude oil rises 0.50% as it ignores concerns about the global economy. In response to concerns about an imminent recession and political unrest in Russia, WTI, the US crude oil benchmark, recovers after two days of losses and increases by more than 0.50%. …

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• 26 June 2023 8:02 pm

  EUR/USD awaits guidance from ECB Forum

  

  The EUR/USD is struggles for fresh gains despite the weaker performance of the US dollar with the beginning of the new trading week. The pair is up 0.16% trading at 1.0909 at the time of writing. Meanwhile, geopolitical tensions around Russia have eased as market attention turns to the ECB …

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• 26 June 2023 7:05 pm

  USD/CAD expected to head above 1.3

  

  The Canadian dollar is quietly advancing to be the top G10 currency this month. Economists are keen to analyze USD/CAD outlook.Canada’s dollar generally tends to do well when Fed rates peak. The USD/CAD pair is trading at 1.3155 at the time of writing. While the outlook for Fed Funds is …

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• 26 June 2023 3:40 pm

  Lower oil prices, ignoring the political turmoil in Russia

  

  Oil prices fell on Monday after Russia’s private military group Wagner revolted at the weekend, although political instability did not appear to pose an immediate threat to oil supplies from one of the world’s top producers. And by 0900 GMT, Brent crude futures fell eight cents, or 0.1 percent, to …

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