Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 11 July 2023 8:48 am

  Oil rises on the back of OPEC+ cuts and traders focus on economic data

  

  Oil prices rose on Tuesday, recouping some of the previous session’s losses, with traders focusing on Saudi Arabia and Russia cutting production and anticipating economic data that may help ascertain the demand for crude. Brent crude futures rose 33 cents, or 0.4 percent, to $78 a barrel by 0050 GMT, …

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• 11 July 2023 2:47 am

  Market Drivers – US Session – 10/07/2023

  

  After a cautious opening due to inflation data from China that suggested weaker demand, Wall Street closed in the green. The Nasdaq increased by 0.18% while the Dow Jones increased by 0.62%. Less than 1% was lost in the price of crude oil, while gold finished level at $1,925 per …

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• 11 July 2023 2:18 am

  US stocks cautiously rise ahead of CPI data

  

  As investors analysed Chinese economic data, a significant US inflation report, and corporate profits on Monday, Wall Street equities increased marginally but oil prices and the currency declined. The S&P 500 increased by 0.24%, the Nasdaq Composite increased by 0.18%, and the Dow Jones Industrial Average increased by 0.62%. The …

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• 11 July 2023 1:45 am

  EUR/GBP consolidates during late US session

  

  As the Bank of England’s hawkish stance became increasingly apparent, the EUR/GBP pair advanced. The US dollar’s decline gave the GBP a lift, and the Euro gave way to the Pound Sterling as long-term stagnation in the Eurozone looked certain.The EUR/GBP pair is now up 0.12% for the day and …

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• 10 July 2023 11:45 pm

  Crypto companies ask Democrats for easier legislative stance

  

  Bothered by a US Securities and Exchange Commission crackdown, cryptocurrency companies are renewing their efforts on Capitol Hill to reap support for legislation that they hope will control the organization and provide the sector regulatory clarity.According to 6 executives, the Blockchain Association, Chamber of Digital Commerce, Crypto Council for Innovation, …

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• 10 July 2023 10:51 pm

  2023’s commodities decline could stabilize in H2

  

  Citibank analysts say commodities have underperformed other asset classes so far this year, but the decline may be coming to an end. The Bloomberg Commodity Index is down 9.3% since the start of the year, while equities, government bonds and corporate bonds are up. The Bloomberg Commodity Index posted a …

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• 10 July 2023 8:45 pm

  Fed’s Daly signals 2 further rate hikes this year

  

  Commenting on the Federal Reserve’s policy outlook, “we’re likely to need a couple more rate hikes over the course of this year to really bring inflation sustainably back to the Fed’s 2% goal,” San Francisco Fed President Mary Daly said on Monday.The US Dollar Index stays on the back foot …

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• 10 July 2023 7:35 pm

  Fed’s Barr: A lot of progress on inflation has been made

  

  Fed Vice Chairman Michael Barr said on Monday that inflation was still too high but acknowledged significant progress had been made. “We are very focused on getting inflation down to target,” Barr said.Barr’s comments do not directly affect the US dollar’s performance against major currencies. At the time of writing, …

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• 10 July 2023 3:09 pm

  Oil eases on China, U.S. data, but OPEC+ cuts limit fall

  

  Monday saw a decline in oil prices following disappointing economic statistics from the two largest users, the United States and China, although losses were contained by anticipated cuts in Saudi Arabian and Russian crude supplies. By 1005 GMT, West Texas Intermediate crude in the United States was down 40 cents, …

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• 10 July 2023 2:07 pm

  The Kremlin: There is nothing new to say about the grain export agreement across the Black Sea

  

  The Kremlin said on Monday that Turkey has the right to establish relations with any country, including Ukraine, but that those relations should not be directed against Russia. Relations between Moscow and Ankara soured last week after Turkey returned five Ukrainian leaders to Kiev in what Russia described as a …

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• 10 July 2023 1:31 pm

  European stocks fell after Chinese data raised fears of deflation

  

  European stocks fell on Monday, after recording big weekly losses, as below-expected inflation data in China stoked fears of weak demand, while investors awaited US inflation data as well as corporate earnings due later this week. The pan-European STOXX 600 index fell 0.3 percent in early trading, with China-linked miners …

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• 10 July 2023 11:15 am

  Dollar is making up for its losses and Yuan is falling after weak inflation data in China

  

  The dollar recovered its losses on Monday, after falling after data showed that jobs in the United States recorded the lowest growth in two and a half years, while disappointing inflation figures in China weighed on the yuan and the Australian and New Zealand dollars. Figures released on Friday showed …

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• 10 July 2023 10:26 am

  Oil is falling before the announcement of US and Chinese data and OPEC + cuts support the market

  

  Oil prices fell in early Asian trade on Monday as investors were cautious ahead of new economic data from the United States and China this week, while expected cuts in crude production from Saudi Arabia and Russia supported the market. By 0107 GMT, Brent crude futures were down 22 cents, …

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