Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 20 April 2023 3:44 am

  Market Drivers – US Session 19/04/2023

  

  Financial markets experienced volatility on Wednesday, with strong price increases in currencies and metals. US stocks fluctuated between gains and losses, and although the US Dollar somewhat increased, it fell during the American session. Economic Data Fed’s Beige Book states that “economic activity was hardly changed in recent weeks. The …

  Read More »
• 20 April 2023 1:40 am

  GBP/USD bears are moving ahead eying 1.2350

  

  The GBP/USD pair is testing trendline support and running into resistance near 1.2470. The 1.2350s become accessible on a breach below trendline support. The pair, which rose from a low of 1.2392 to a high of 1.2474, is currently trading at 1.2436, down 0.02% on the day. However, as the …

  Read More »
• 20 April 2023 12:43 am

  USD/JPY bulls advance towards 135

  

  The USD/JPY pair is testing important barrier as it moves forward in the bullish trend. Bears want 132.80, while bulls aim for a break of 135.11. The price of the pair increased by 0.5% over the day, moving between a low of 133.95 and a high of 135.13. The yield …

  Read More »
• 19 April 2023 11:56 pm

  Recent data indicates BoE’s 25 bps hike in May

  

  Following the most recent UK inflation estimate, economists anticipate a 25 basis point increase in the Bank of England’s benchmark interest rate in May. Data on the UK labour market and inflation released this week have given the Bank of England (BoE) policy officials some positive surprises.Analysts revise their projections …

  Read More »
• 19 April 2023 10:46 pm

  Gold’s bears advance to test a crucial support

  

  Following price movement in both directions, the price of gold is currently consolidating. The motivating force is the Fed’s outlook, which has an eye on crucial support. As the US Dollar strengthens once more, the price of gold is down about 0.5% on the day and has fallen below the …

  Read More »
• 19 April 2023 10:06 pm

  Fed’s Beige Book: Stress on US economy eased after SVB crisis

  

  According to Fed’s Beige Book, released on Wednesday, stress on the US banking system has eased since the failure of Silicon Valley Bank in March. Lending in the U.S. declined after the failure of Silicon Valley Bank and businesses hired fewer people in the early spring, but inflation also “appeared …

  Read More »
• 19 April 2023 9:32 pm

  USD/CAD expected to surge on stronger USD

  

  The USD/CAD pair is trading at 1.3446 at the time of writing, it is therefore higher by some 0.41%. the pair has travelled lower over the last month driven by the broad-based setback to the US dollar and the rebound in oil supporting the Canadian counterpart. Analysts forecast USD/CAD at …

  Read More »
• 19 April 2023 8:24 pm

  US dollar slightly up on risk aversion

  

  After declining on Tuesday, the US dollar is now moving in the right direction. The US dollar outperformed its competitors due to the steep rise in US Treasury bond yields.The main Wall Street indexes are trading in the red, but the US dollar is unable to gain any more ground. …

  Read More »
• 19 April 2023 6:37 pm

  Tesla’s earnings drop more than 20% from last year

  

  Shares in electric vehicle maker, Tesla, dropped 4% after the company reported Q1 earnings after the bell. Here are the results. Earnings per share are 85 cents adjusted versus 85 cents expected, according to the average analyst estimates. Tesla’s revenues were $23.33 billion as opposed to the $23.21 billion anticipated. …

  Read More »
• 19 April 2023 5:33 pm

  EIA: Energy Information Administration: US crude inventories fell more than expected

  

  Data from the Energy Information Administration on Wednesday showed that US crude oil inventories fell more than expected due to refinery consumption and higher exports, while gasoline inventories rose unexpectedly due to disappointing demand. Crude stocks fell by 4.6 million barrels in the week ending April 14 to 466 million …

  Read More »
• 19 April 2023 4:15 pm

  Morgan Stanley profit beats estimates on wealth business strength

  

  As increased income from its wealth management division offset declining revenue from its investment banking and trading units, Morgan Stanley’s first-quarter profit exceeded expectations. However, in premarket trade, shares decreased by more than 2%. While wealth management witnessed an 11% increase in revenue and brought in $110 billion in net …

  Read More »
• 19 April 2023 2:28 pm

  Oil falls, as expectations of a rate hike overshadowed the decline in US inventories

  

  Oil prices fell on Wednesday as the market assessed the possibility of the Federal Reserve raising interest rates which could slow growth and reduce oil consumption, which was offset by falling US inventories and strong Chinese economic data. And by 0641 GMT, Brent crude futures fell 35 cents, or 0.4 …

  Read More »
• 19 April 2023 1:29 pm

  Dollar is recovering, supported by rising bond yields

  

  The dollar stabilized on Wednesday after swinging amid bond market volatility in previous sessions, as investors focused on US economic indicators, Federal Reserve comments and corporate earnings in search of clues to the path of interest rates. The dollar index, which measures the performance of the US currency against six …

  Read More »