Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 23 June 2023 7:39 pm

  Gold under pressure amid expected more rates hikes by year end

  

  Gold is trading at $1922 per ounce at the time of writing, up by +0.46% versus the previous closing price. During the months of April and May, the price of Gold breached the $2,000 mark and was only within a few Dollars away of the record high. Analysts even expect …

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• 23 June 2023 3:46 pm

  The British economy is faltering and price pressures are still high

  

  A survey revealed that signs of a slowdown appeared in the British economy this month, and that inflation pressures remain high. The survey was published a day after the Bank of England raised interest rates sharply and said it was ready to do more to curb inflation. An initial reading …

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• 23 June 2023 3:01 pm

  The Chinese capital raises its hot weather warning level to the highest level

  

  Beijing on Friday raised its hot weather alert to “red,” the highest level in a color system for weather warnings, with temperatures in many parts of the Chinese capital reaching 40 degrees Celsius. The Beijing Meteorological Administration said the capital’s official temperature, measured from the Southern Suburbs Observatory, was 40 …

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• 23 June 2023 2:05 pm

  European stocks open lower, and Siemens Energy shares plunge

  

  European stocks opened lower on Friday at the end of a week marked by a lot of monetary policy decisions from central banks, which supported views that interest rates may remain high for a longer period, while Siemens Energy plunged after the company withdrew its annual profit forecast. The pan-European …

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• 23 June 2023 1:07 pm

  USD is rising as risk appetite declines and GBP is falling

  

  The dollar was supported by a wave of risk aversion on Friday, as hawkish comments from global central banks, including the US Federal Reserve, raised fears of a further contraction of the economy. Sterling struggled to hold on to gains made by the Bank of England’s decision on Thursday to …

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• 23 June 2023 12:18 pm

  Japan’s Nikkei records its first weekly loss in 11 weeks, amid profit-taking

  

  The Japanese Nikkei index gave up early gains made at the beginning of the session on Friday, to close lower and record its first weekly loss after ten weeks of gains, in light of investors taking profits before an expected wave of selling by the end of the month to …

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• 23 June 2023 11:17 am

  Gold is poised for its worst week since February

  

  On Friday, gold prices are heading for the largest weekly loss since February, as the dollar received support from expectations of the Federal Reserve raising interest rates again this year, which pushed the non-yielding yellow metal to its lowest level in more than three months. By 0246 GMT, spot gold …

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• 23 June 2023 2:43 am

  Yellen warns of recession risk amid Fed’s hawkish stance

  

  “As the Fed tightens policy, a recession remains a risk,” noted US Treasury Secretary Janet Yellen late Thursday. The policymaker also added, “It is not appropriate to debate the 2% inflation target at this time.”US Treasury Secretary Yellen also said that to ease Consumer Price Index (CPI), consumer spending may …

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• 23 June 2023 1:46 am

  Gold dragged lower on hawkish central banks as PMI data eyed

  

  Gold Price renewed three-month low after five-day losing streak. It looks pressured on the hawkishness adopted recently by central banks. This hawkish stance amplifies economic fears and underpin the American currency’s demand, weighing on the Gold Index. Mostly upbeat US data, positive statements by Fed Chair Jerome Powell also bolstered …

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• 22 June 2023 10:51 pm

  What can natural gas, US dollar tell about recent financial markets’ performance?

  

  The Natural Gas Index (XNG/USD) is trading at $2.637 MMBtu, at the time of writing, entering the US session on Thursday. Natural gas price pulls back after gas storage data beats estimates. In other words, natural gas corrects on intraday charts after Natural Gas Storage data shows an unexpected rise …

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• 22 June 2023 9:41 pm

  WTI falls on global rate hike fears, world economic slowdown

  

  Recent rate increases by central banks, headed by the BoE on Thursday, fuel concerns about a decline in oil demand. Despite recent decreases in OPEC+ output and an unexpected drop in US petroleum stocks, WTI declines. In light of worries about an economic downturn, traders are turning their attention to …

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• 22 June 2023 8:16 pm

  Powell committed to learning from recent bank failures

  

  Several Senate Republicans questioned the new banking regulations when Federal Reserve Chair Jerome Powell spoke before the Senate Banking Committee on Thursday, specifically whether or not small banks would be subject to increased capital requirements.Powell stated that a plan is under consideration and has already been discussed within the Fed, …

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• 22 June 2023 7:35 pm

  USD/JPY climbs to yearly high during Powell’s testimony

  

  The USD/JPY pair is climbing to a YTD peak of 142.88 as Fed Chair Jerome Powell’s hawkish commentary strengthens the US Dollar. Global economic slowdown fears resurface as major central banks, including the Bank of England, tighten monetary conditions.The USD/JPY benefits from rising bond yields and dovish commentary from Bank …

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