Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 12 June 2023 11:09 am

  Financial Markets’ Weekly Recap, Jun 5-9

  

  Following a surprise 25 basis point (bps) rate hike in May, the Reserve Bank of Australia (RBA) board members opted to raise the Official Cash Rate (OCR) by another 25 basis points (bps) to 4.10% at its June policy meeting, delivering another hawkish surprise. According to the most recent Reuters …

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• 10 June 2023 12:45 am

  Wall Street abandons earlier gains as Fed, CPI awaited

  

  Wall Street has given up earlier gains as the US central bank’s policy decision and the Consumer Price Index (CPI) are awaited.The S&P 500 index is up 0.27% after rallying from a low of 4,279.10 to a high of 4,322.20, falling back to 4,303 currently. The benchmark S&P 500 closed …

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• 9 June 2023 10:34 pm

  AUD/USD reacts to interest rate decisions, broader economic data

  

  The AUD/USD pair has reached the 0.6750s on Friday, but it is trading at 0.6738 at the time of writing due to the speculation that the US central bank may not raise interest rates again for some time. This has impacted the US Dollar at the same time that the …

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• 9 June 2023 9:01 pm

  Despite sanctions, Russian gasoline exports surge in 2023

  

  According to the Kommersant business daily, Russian oil companies have seen a 37% surge in fuel exports from January 1 up till May 30 despite the Western sanctions led by Washington over the war in Ukraine. The publication cited an unidentified source familiar with the data. The January-May 2023 gasoline …

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• 9 June 2023 7:41 pm

  EUR/USD retreats from weekly highs amid falling EU’s bond yields

  

  The Euro is weakened amid falling bond yields; but the shared currency remains supported by monetary policy divergence.ECB is expected to tighten monetary conditions despite the Eurozone recession. Upcoming US CPI data could set the stage for a surprise at the FOMC meeting. The EUR/USD pair reversed its course after …

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• 9 June 2023 5:07 pm

  Canada’s Job Market Unexpectedly Shrinks in May, Unemployment Rate Rises to 5.2%

  

  Canada’s economy unexpectedly lost 17,300 jobs in May, following a gain of 41,400 in April, according to data released by Statistics Canada on Friday. The net change in employment missed the market expectation of a gain of 23,200 jobs for May. As a result, Canada’s unemployment rate rose to 5.2% …

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• 9 June 2023 4:29 pm

  US Dollar set for worst weekly performance since March despite modest recovery

  

  During early European trading on Friday, the US dollar rebounded from sharp losses in the previous session, as traders sought safe-haven assets following weak Chinese inflation data. Despite showing resilience against its major currency counterparts, the currency’s gains were presently limited, with modest daily gains near 103.50 after suffering its …

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• 9 June 2023 2:57 pm

  Concerns about demand cap oil’s gains

  

  Oil prices rose on Friday and were broadly stable for the week as Saudi Arabia’s pledge to cut production helped calm concerns about demand growth. And by 0932 GMT, Brent crude futures rose 36 cents, or 0.5 percent, to $ 76.32 a barrel, and West Texas Intermediate crude rose 34 …

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• 9 June 2023 2:08 pm

  Dollar is falling after the increase in US jobless claims

  

  The dollar fell on Friday, June 9, affected by the drop in US Treasury bond yields, after an increase in the number of weekly jobless claims in the United States raised hopes that US interest rates would reach their peak, with focus shifting to major central bank meetings to be …

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• 9 June 2023 12:46 pm

  European stocks stabilize and Croda shares lead losses after earnings expectations

  

  European stocks settled on Friday, at the end of a week of weak trading, which witnessed reluctance by investors before the issuance of the latest decisions of major central banks. Croda shares led the main index losses after lukewarm earnings expectations. The European Stoxx 600 index settled at 460.57 points …

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• 9 June 2023 12:45 pm

  Nikkei rose for the ninth consecutive week after fixing the final settlement price

  

  Japan’s Nikkei index rose sharply on Friday, marking its ninth consecutive week of gains, as investors took comfort from the fixing of the final settlement price. The Nikkei index rose 1.97 percent to close at 32,265.17 points, its biggest daily gain since last Monday. The index rose 2.35 percent for …

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• 9 June 2023 2:34 am

  Market Drivers – US Session – 08/06/2023

  

  On Thursday, Wall Street indexes rose sharply, boosted by easing expectations of a hawkish Federal Reserve ahead. A sharp increase in US Initial Jobless Claims pushed the US Dollar further to the downside. The Greenback ended the day looking vulnerable to more losses. US Treasury yields pulled back, paring Wednesday’s …

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• 9 June 2023 2:00 am

  US equities climbed building on recent gains

  

  On Thursday, the US stock market climbed higher as it built on its recent gains. Traders were looking ahead to key inflation data next week as well as the Federal Reserve’s latest policy announcement. The Dow Jones Industrial Average added 168.59 points, or 0.5%, to close at 33,833.61. The S&P …

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