Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 31 May 2023 11:56 pm

  Republican leader anticipates debt ceiling bill passing

  

  US Senate Republican Leader Mitch McConnell is helping to steer crucial legislation to raise the debt ceiling past Senate conservatives but he says “We anticipate debt ceiling bill passing,” and claims that the bill is expected to come to the Senate as soon as Thursday.The US House of Representatives is …

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• 31 May 2023 10:46 pm

  Fed’s Beige Book: Economic activity was little changed overall in April, early May

  

  According to Federal Reserve’s Beige Book, “economic activity was little changed overall in April and early May”. The expectations for future growth deteriorated a little, “though contacts still largely expected a further expansion in activity.” “Employment increased in most Districts, though at a slower pace than in previous reports”, said …

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• 31 May 2023 9:39 pm

  Intel makes big moves after earlier Wall Street’s declining performance

  

  Intel shares popped about 4% after the chipmaker announced it could soon see a turnaround. Speaking at a conference, CFO David Zinsner said the company’s data center division is starting to “turn the corner,” while adding that China inventory should start to ease after Q3 and that Q2 revenue will …

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• 31 May 2023 8:48 pm

  Deepened global recession worries impact crude oil

  

  After consolidating above $69.00 earlier on Wednesday, oil price is trading a little below at $68.92 at the time of writing ahead of oil inventory data by the US API amid strong US consumer spending and soft labour market conditions that support chances of one more rate hike by the …

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• 31 May 2023 7:42 pm

  US Dollar regathers momentum after job openings data, hopes on debt deal

  

  Th US Dollar has regathered its strength and rallied amid risk aversion. The dollar Index reached its highest level in over two months above 104.50 on Wednesday. The dollar’s performance is likely to continue to be impacted by risk perception in the second half of the day with investors keeping …

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• 31 May 2023 3:06 pm

  Oil falls on weak China data, stronger U.S. dollar

  

  Oil prices fell on Wednesday due to a stronger US currency and disappointing data from China, the world’s largest oil importer, raising demand concerns. At 1013 GMT, Brent oil futures for August delivery were down $1.29, or 1.75%, to $72.42 a barrel. West Texas Intermediate crude (WTI) in the United …

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• 31 May 2023 2:25 pm

  The Turkish economy grew 4% in Q1

  

  Official data showed on Wednesday that the Turkish economy grew by 4 percent in the first quarter of this year, slightly exceeding expectations. The growth came despite the repercussions of the devastating earthquakes that hit the south of the country in February. Data from the Turkish Statistical Institute showed that …

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• 31 May 2023 12:52 pm

  European stocks touch their lowest level in two months after weak Chinese data

  

  European stocks touched a two-month low on Wednesday after weak economic data from China fueled fears of a global slowdown and dashed optimism from signs of falling inflation in some major eurozone economies. The pan-European Stoxx 600 index fell 0.7 percent, its lowest since March 31. The main stock exchanges …

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• 31 May 2023 12:24 pm

  Japan’s Nikkei index ends a 4-day winning streak amid profit-taking and yen strength

  

  Japan’s Nikkei ended a four-day winning streak on Wednesday, with investors taking profits after the index hit a 33-year high earlier this week, and a stronger yen and disappointing Chinese data also weighed on the markets. The Nikkei index fell 1.41 percent to 30,887.88 points, its biggest daily decline since …

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• 31 May 2023 11:45 am

  Oil falls as weak Chinese data offsets progress on the US debt ceiling

  

  Oil prices turned lower after starting trading on a higher note on Wednesday, due to fears of slowing demand from China, the world’s largest oil importer, after weaker-than-expected economic data. Brent crude futures for August delivery fell 28 cents to $73.43 a barrel by 0250 GMT, while US West Texas …

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• 31 May 2023 1:39 am

  Market Drivers – US Session – 30/05/2023

  

  The debt ceiling agreement reached by US President Biden and House Speaker Kevin McCarthy is encountering difficulties, which is negatively affecting market sentiment. US markets ended with mixed results, as Treasury yields dropped significantly. Economic Data Consumer sentiment in the US weakened slightly in May with the Conference Board’s Consumer …

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• 31 May 2023 1:05 am

  Gold prices end higher on retreating US Treasury yields

  

  Gold prices ended higher Tuesday, partially buoyed by declining US Treasury yields, after the most-active futures contract briefly touched its lowest level since March overnight. Gold found support Tuesday from a retreat in US Treasury yields. Gold prices have retreated for most of May as the dollar has strengthened and …

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• 31 May 2023 12:14 am

  Tether Mining Operations in Uruguay inaugurated

  

  By mid-Q3 2023, Tether intends to mine its first bitcoin in the Uruguayan plant. By starting a mining facility in Uruguay that will be operational by the middle of the third quarter of 2023, Tether is doubling down on its Bitcoin plan, the company said to Blockworks on Tuesday. Tether …

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