Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 14 April 2023 1:29 am

  USD/JPY bulls rely on a safety net at daily trendline support

  

  Bulls on the USD/JPY remain in contention with chances of a daily closing over 132.50. The support of the trendline for the USD/JPY pair is crucial at this point. For the bullish thesis to continue to hold, 132.50 was identified as a crucial threshold that had to hold. This was …

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• 14 April 2023 12:17 am

  Producer Prices data prevents US bond yields’ surging

  

  US Treasury yields for10 years have not witnessed any change on Thursday since the close of last daily trading due to the pressure the markets are experiencing as a result of inflation data at the level of US producer prices, which highlighted rises that are much less than market expectations.The …

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• 13 April 2023 10:57 pm

  US stocks surge as investors bet on Fed’s soft landing

  

  US stocks rose on Thursday after less-than-expected inflation data encouraged traders’ expectations for a soft landing for the US economy. Big Tech led the way as stocks rose on Thursday as traders celebrated yet another report that suggested that US inflation was slowing. The S&P 500 climbed 1.3% to 4,145, …

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• 13 April 2023 10:07 pm

  Gold holds around $2,043 amidst US economic slowdown woes

  

  The price of gold is rising, however it is still below the year’s highs, which were previously set at about $2,048.79, as US data showed the US economy is still slowing down. As a result, the US Dollar (USD) declined as US Treasury bond yields continued to decline, while Gold …

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• 13 April 2023 7:25 pm

  IMF’s Georgieva: Inflation coming down but not fast enough

  

  The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, told CNBC in an interview on Thursday that while there isn’t a financial crisis in the US, there are risks.After these remarks, the US Dollar Index remains firmly in the red and was last observed losing 0.5% at roughly …

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• 13 April 2023 6:36 pm

  EUR/USD faces minor obstacle at 1.1100

  

  The EUR/USD pair advances further and records a new 2023 high. The Euro extra upside could retest the round level at 1.1100 next.The EUR/USD pair keeps the bullish bias well in place and climbs to the 1.1040/50 on Thursday, or new year-to-date peaks.The likelihood of extra advances appears favoured for …

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• 13 April 2023 5:35 pm

  U.S. producer prices unexpectedly fall in March

  

  U.S. producer prices unexpectedly fell in March as the cost of gasoline declined, and there were signs that underlying producer inflation was subsiding. The producer price index for final demand dropped 0.5% last month, the Labor Department said on Thursday. Data for February was revised to show the PPI unchanged …

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• 13 April 2023 5:13 pm

  U.S. weekly jobless claims increase as labor market slows

  

  The number of Americans filing new claims for unemployment benefits increased more than expected last week, a further sign that labor market conditions were loosening up as higher borrowing costs dampen demand in the economy. Initial claims for state unemployment benefits rose 11,000 to a seasonally adjusted 239,000 for the …

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• 13 April 2023 1:36 pm

  Luxury goods stocks lead the European Stoxx 600 index to gains

  

  European stocks rose on Thursday, boosted by gains in luxury stocks after a report showed fashion firm LVMH posted strong first-quarter sales and on hopes the Federal Reserve will halt its tightening cycle after lower-than-expected inflation data. The pan-European Stoxx 600 index was up 0.3% by 0710 GMT. The Stoxx …

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• 13 April 2023 1:15 pm

  Japan’s Nikkei closed higher for the fifth day

  

  The Japanese Nikkei index rose for the fifth consecutive session amid optimism about the recovery of the local retail sector, while financial stocks were affected by recession fears in the United States. The Nikkei index closed 0.26 percent higher, reversing early losses and posting its longest winning streak in more …

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• 13 April 2023 4:42 am

  Market Drivers – US Session 12/04/2023

  

  Stock losses accelerated Wednesday afternoon when the minutes of the Mar 21-22 FOMC meeting showed policymakers projected a “mild recession” starting later in 2023. The minutes of the FOMC meeting on March 21–22 revealed that policymakers reduced their forecasts for rate increases this year, noting that “many participants had lowered …

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• 13 April 2023 3:29 am

  Oil prices soaring on softer US data as $90.00 targeted

  

  Despite an easing of US inflation, the oil price managed to recover. The US Dollar has been negatively impacted by a slowdown in US inflation. Last week, investors were mildly reported to have built up in oil inventories. After reaching a new four-month high of $83.48 on Wednesday, WTI and …

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• 13 April 2023 2:04 am

  USD/CHF falls on weaker US dollar post-CPI data

  

  The USD/CHF pair fell as a result of conflicting US economic news headlines that made the US Dollar weaker. The pair is trading at 0.8959 at the time of writing. As support levels threaten to fall below 0.8950, bears are waiting in the shadows. Bulls are still optimistic since resistance …

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