Noor Trends News, Technical Analysis, Educational Tools and Recommendations

September, 2023

• 15 September 2023 6:19 pm

  UoM Consumer Confidence Index declines in September

  

  UoM Consumer Confidence Index declined more than expected in September. In an obvious reaction, the US dollar retreats across the board, DXY hits fresh daily lows under 105.20. Consumer sentiment in the US weakened in August, with the University of Michigan’s (UoM) Consumer Confidence Index declining to 67.7 from 69.5. …

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• 15 September 2023 4:30 pm

  Oil is heading for new weekly gains with tight supply and optimism towards China

  

  Oil is heading for gains for the third week in a row, as the scarcity of supply resulting mainly from Saudi Arabia’s reduction in production coincides with optimism that the Chinese economy is finally beyond the stage of danger. By 1149 GMT, Brent crude rose 37 cents to $94.07 a …

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• 15 September 2023 3:27 pm

  The Russian Central Bank raises interest rates by 100 basis points

  

  The Russian Central Bank raised the interest rate by about 100 basis points to 13% levels, contradicting expectations of its stabilization. According to the decision issued today, Friday, September 15, the bank indicated that inflationary pressures are still high, that the growth of domestic demand has exceeded the capacity to …

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• 15 September 2023 1:41 pm

  Gold rose after Chinese data supported the yuan against the dollar

  

  Gold prices stabilized on Thursday near their lowest levels in three weeks, which they touched in the last session after the release of US inflation data, which reinforced expectations that the Federal Reserve will stop raising interest rates next week. By 0747 GMT, spot gold prices stabilized at $1,905.49 per …

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• 15 September 2023 12:47 pm

  Japan’s Topix closes at 33-year peak and technology stocks rise

  

  Japan’s broader Topix index closed at its highest level in more than 33 years on Friday, supported by Wall Street’s gains overnight, while technology stocks led gains after the strong initial public offering of SoftBank Group Inc’s ARM Holdings. The Topix index rose 0.95 percent to close at 2,428.38 points, …

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• 15 September 2023 10:48 am

  Dollar stabilizes and the yuan rises on the back of strong Chinese data

  

  The dollar stabilized in Asian trading on Friday, retreating slightly from the gains it achieved on Thursday against other major currencies, while the yuan rose following the release of some strong economic data from China. The dollar jumped on Thursday after US retail sales received a boost from a 0.6 …

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• 15 September 2023 9:50 am

  Oil rises to its highest level in 10 months

  

  Oil prices rose to their highest level in 10 months on Friday, after China reduced banks’ cash reserve requirements to boost its economic recovery, and amid expectations that the cycle of raising global interest rates will soon end. By 0027 GMT, Brent crude rose 46 cents, equivalent to 0.5 percent, …

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• 15 September 2023 12:47 am

  

  Market Drivers – US Session, September 14, 2023The EUR/USD pair resumed its downtrend, falling to the 1.0630 area. It posted the lowest daily close in months and remains under pressure. EUR/CHF suffered its worst day in months, dropping from weekly highs at 0.9600 to 0.9530, with a crucial support area …

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• 15 September 2023 12:26 am

  Why is German industry worried about Chinese criticism of EU probe?

  

  China has criticised the European Commission’s probe into its electric vehicle subsidies as being protectionist. Beijing claims that the investigation has harmed business ties between China and the EU. Analysts and Chinese industry executives who contend that the sector’s competitive advantage is not the result of subsidies are worried about …

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• 14 September 2023 10:19 pm

  Strongest day in 6 months for European stocks on ECB’ signals

  

  On Thursday, when the European Central Bank hinted that its monetary tightening was coming to an end, European stocks had their largest percentage gain in six months. The Eurozone equities index increased 1.3%, while the pan-European STOXX 600 index increased 1.5% to reach a more than one-week high.European stocks climbed …

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• 14 September 2023 9:18 pm

  Bitcoin price targets $27,000 as bulls ignore PPI data

  

  Bitcoin price is targeting $27,000 as bulls ignore surprise PPI inflation data. Despite recent macro data showing a rebound in US inflation, Bitcoin traders are anticipating greater increases. The Consumer Price Index (CPI) and Producer Price Index (PPI) August prints reaffirmed the US inflation return, and Bitcoin continued to gain …

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• 14 September 2023 8:57 pm

  USD/CAD continues to decline on higher oil prices

  

  The USD/CAD exchange rate has lost 1.3515 for the sixth consecutive day, with the US PPI increasing by 1.7% YoY in August. Retail sales were strong, and expectations of a Fed tightening loosened slightly. The number of Jobless Claims for the second week of September was less than anticipated.The USD/CAD …

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• 14 September 2023 7:45 pm

  Gold trades sideways, but long-term outlook seems promising

  

  After passing the $2,000 bar in the spring, Gold experienced weakness over the summer. Economists at Société Générale analyze the yellow metal’s outlook. The precious metal is trading at $1906.69 per ounce at the time of writing.While core inflation is stubbornly high and short-term headline inflation is still cooling, the …

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