Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 23 June 2023 12:18 pm

  Japan’s Nikkei records its first weekly loss in 11 weeks, amid profit-taking

  

  The Japanese Nikkei index gave up early gains made at the beginning of the session on Friday, to close lower and record its first weekly loss after ten weeks of gains, in light of investors taking profits before an expected wave of selling by the end of the month to …

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• 23 June 2023 11:17 am

  Gold is poised for its worst week since February

  

  On Friday, gold prices are heading for the largest weekly loss since February, as the dollar received support from expectations of the Federal Reserve raising interest rates again this year, which pushed the non-yielding yellow metal to its lowest level in more than three months. By 0246 GMT, spot gold …

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• 23 June 2023 2:43 am

  Yellen warns of recession risk amid Fed’s hawkish stance

  

  “As the Fed tightens policy, a recession remains a risk,” noted US Treasury Secretary Janet Yellen late Thursday. The policymaker also added, “It is not appropriate to debate the 2% inflation target at this time.”US Treasury Secretary Yellen also said that to ease Consumer Price Index (CPI), consumer spending may …

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• 23 June 2023 1:46 am

  Gold dragged lower on hawkish central banks as PMI data eyed

  

  Gold Price renewed three-month low after five-day losing streak. It looks pressured on the hawkishness adopted recently by central banks. This hawkish stance amplifies economic fears and underpin the American currency’s demand, weighing on the Gold Index. Mostly upbeat US data, positive statements by Fed Chair Jerome Powell also bolstered …

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• 22 June 2023 10:51 pm

  What can natural gas, US dollar tell about recent financial markets’ performance?

  

  The Natural Gas Index (XNG/USD) is trading at $2.637 MMBtu, at the time of writing, entering the US session on Thursday. Natural gas price pulls back after gas storage data beats estimates. In other words, natural gas corrects on intraday charts after Natural Gas Storage data shows an unexpected rise …

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• 22 June 2023 9:41 pm

  WTI falls on global rate hike fears, world economic slowdown

  

  Recent rate increases by central banks, headed by the BoE on Thursday, fuel concerns about a decline in oil demand. Despite recent decreases in OPEC+ output and an unexpected drop in US petroleum stocks, WTI declines. In light of worries about an economic downturn, traders are turning their attention to …

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• 22 June 2023 8:16 pm

  Powell committed to learning from recent bank failures

  

  Several Senate Republicans questioned the new banking regulations when Federal Reserve Chair Jerome Powell spoke before the Senate Banking Committee on Thursday, specifically whether or not small banks would be subject to increased capital requirements.Powell stated that a plan is under consideration and has already been discussed within the Fed, …

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• 22 June 2023 7:35 pm

  USD/JPY climbs to yearly high during Powell’s testimony

  

  The USD/JPY pair is climbing to a YTD peak of 142.88 as Fed Chair Jerome Powell’s hawkish commentary strengthens the US Dollar. Global economic slowdown fears resurface as major central banks, including the Bank of England, tighten monetary conditions.The USD/JPY benefits from rising bond yields and dovish commentary from Bank …

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• 22 June 2023 5:03 pm

  Türkiye raises the interest rate by 650 basis points to 15%

  

  Turkey’s central bank raised its base interest rate by 650 basis points to 15 percent on Thursday, reversing President Recep Tayyip Erdogan’s policy of cutting interest rates, but the move towards post-election tightening still fell short of expectations. In its first meeting after the appointment of Hafiza Ghaya Arkan as …

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• 22 June 2023 3:56 pm

  Bank of England hikes rates to 5% in a surprise move to tackle stubborn inflation

  

  The Bank of England hiked interest rates by a half-point more than predicted on Thursday, citing “significant” data indicating that British inflation will take longer to decline. The Bank of England’s Monetary Policy Committee (MPC) voted 7-2 to raise its main interest rate to 5% from 4.5%, the highest since …

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• 22 June 2023 2:00 pm

  The Kremlin: Putin and the Prime Minister of Qatar will discuss in Moscow maintaining fair energy prices

  

  The Kremlin said Russian President Vladimir Putin and Qatari Prime Minister Mohammed bin Abdulrahman al-Thani will discuss maintaining fair prices in global energy markets when they meet on Thursday in Moscow at 1100 GMT.

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• 22 June 2023 1:39 pm

  European stocks open lower on interest rate hike fears

  

  European stocks opened lower on Thursday on fears of continued monetary tightening, and with the London Stock Exchange slipping amid uncertainty over the extent to which the Bank of England will raise interest rates later in the day. And by 0716 GMT, the European Stoxx 600 index fell 1.2 percent, …

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• 22 June 2023 12:27 pm

  USD declines after the testimony, GBP goes up

  

  On Thursday, the dollar approached its lowest level in a month against a basket of currencies, after Jerome Powell, Chairman of the Federal Reserve, stuck to his usual messages in his semi-annual testimony, which did not include any surprises. Sterling rose to near a one-year high ahead of the Bank …

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