Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 12 July 2023 1:58 pm

  European stocks rise ahead of the release of US inflation data

  

  European stocks rose on Wednesday ahead of the release of US inflation data that will determine whether the Federal Reserve is close to ending its monetary tightening cycle. The pan-European Stoxx 600 index rose 0.3 percent in early trade. US data, due at 1230 GMT, is expected to show the …

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• 12 July 2023 1:12 pm

  OPEC Secretary General: We expect global energy demand to rise by 23% until 2045

  

  Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said during an oil and gas conference in Nigeria that global energy demand is expected to rise by 23% until 2045. He added, “The global demand for energy is expected to increase by a significant rate of 23% …

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• 12 July 2023 3:35 am

  Market Drivers – US Session – 11/07/2023

  

  The US Dollar weakened during the US trading session ahead of the key CPI data in the United States. On Wall Street, the Dow Jones gained 0.93% and the Nasdaq rose 0.55%. Gold rose to $1,940, while Silver finished flat around $23.10. Crude oil prices rose more than 2%.The improvement …

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• 12 July 2023 2:18 am

  Bank of Canada expected to hike by 25 basis points

  

  The Bank of Canada is set to announce its Interest Rate Decision on Wednesday, July 12 at 14:00 GMT. The BoC is expected to hike rates by 25 basis points (bps) to 5.00%, contrary to its pause hints1. The decision will be published alongside a Monetary Policy Report, containing updated …

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• 12 July 2023 1:54 am

  Investors confused over Bitcoin’s recent range

  

  A short-term decline to $27,330 is anticipated to follow the price consolidation of bitcoin. A sell signal for ethereum causes an initial slump, but bears aim for $1,767. The $0.433 and $0.413 steady support levels will likely be retested by the ripple price. The price of bitcoin is still fluctuating …

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• 12 July 2023 12:43 am

  WTI up on China-linked sentiment as correction eyed

  

  On the day, WTI crude oil is up due to mood related to China. Intense resistance is being tested by WTI. The dynamic trendline support is being watched for bears, who are lurking. The largest oil and gas producer in China, China’s National Petroleum Corp. (CNPC), reduced its prediction for …

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• 11 July 2023 10:55 pm

  US CPI expected to record lower reading for June

  

  The US Consumer Price Index statistics, the most significant indicator of inflation, will be released by the US Bureau of Labour Statistics on July 12 at 12:30 GMT. Here are the predictions made by the economists and analysts of 12 major banks regarding the impending United States inflation print for …

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• 11 July 2023 9:53 pm

  US stocks rise ahead CPI data

  

  Investors were optimistic that a slowdown in price increases would support an earlier than anticipated conclusion to the Federal Reserve’s programme of fast monetary tightening, which is why the Dow and S&P 500 increased on Tuesday ahead of inflation data. Consumer prices are anticipated to have decreased on an annual …

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• 11 July 2023 8:42 pm

  How could CPI data help gold prices?

  

  Economists are busy analyzing gold price expectations ahead of the US Consumer Price Index (CPI) report. Gold prices are finding a footing with CPI data that is awaited on Wednesday, and on that note, markets do expect to witness a below consensus CPI print, which could help the precious metal …

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• 11 July 2023 7:24 pm

  Canada’s dollar looks cautious ahead of BoC meeting

  

  The USD/CAD pair is trading at 1.3266 at the time of writing. Canada’s dollar remains cautious ahead of the Bank of Canada’s (BoC) interest rate decision on Wednesday. Core inflation has fallen significantly in Canada, while it remains stubbornly high in the US, making USD/CAD bullish. The technical picture is …

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• 11 July 2023 4:09 pm

  OPEC Secretary General: We expect global energy demand to rise by 23% until 2045

  

  Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said during an oil and gas conference in Nigeria that global energy demand is expected to rise by 23% until 2045. He added, “The global demand for energy is expected to increase by a significant rate of 23% …

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• 11 July 2023 3:02 pm

  Dollar falls to its lowest level in two months and pound rises

  

  The dollar fell to a two-month low on Tuesday after Federal Reserve officials signaled the tightening cycle was coming to an end, while sterling rose to a 15-month high after more-than-expected wage growth in Britain. Several Federal Reserve officials said on Monday that the bank would likely need to raise …

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• 11 July 2023 1:18 pm

  Inflation in Germany changes direction and rises in June

  

  Inflation rose in Germany in June, snapping a steady decline since the beginning of the year. Data from the Federal Statistical Office on Tuesday showed consumer prices, harmonized to facilitate comparison with other countries in the European Union, rose 6.8 percent year-on-year in June. Core inflation, which strips out volatile …

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