Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 7 June 2023 12:06 pm

  Oil continues its losses as fears of an economic slowdown return

  

  Oil prices extended losses on Wednesday as fears of headwinds from the global economy exacerbated gains gained after top crude exporter Saudi Arabia pledged earlier this week to deepen production cuts. Brent crude futures fell 40 cents, or 0.5 percent, to $75.89 a barrel by 0456 GMT. US West Texas …

  Read More »
• 7 June 2023 12:00 pm

  Japan’s Nikkei index records its biggest decline in 12 weeks after a series of gains

  

  Japan’s Nikkei index recorded its biggest drop in 12 weeks on Wednesday, as investors exercised caution after a series of gains. The Nikkei index fell 1.82 percent to close at 31,913.74 points, its biggest daily decline since March 14, ending a four-day streak of gains. The index rose 0.6 percent …

  Read More »
• 7 June 2023 1:46 am

  Market Drivers – US Session – 06/06/2023

  

  The dollar posted mixed results on Tuesday in a cautious market ahead of a crucial week. The USD Dollar Index rose 0.15% but was unable to break the 104.40 area again. US Treasury yields held relatively steady. There are no Federal Reserve speakers ahead of next week’s FOMC meeting. Fed …

  Read More »
• 7 June 2023 1:18 am

  What Could SEC’s Battle Bring About In Cryptocurrency Market?

  

  What Changes In The Cryptocurrency Markets Could The SEC Fight Bring About?The US Securities and Exchange Commission filed a new lawsuit against Coinbase on Tuesday, just 24 hours after filing one against Binance. The entire business model of the cryptocurrency sector, according to SEC Chairman Gary Gensler, is “built on …

  Read More »
• 6 June 2023 11:58 pm

  AUD/USD rallies post RBA policy meeting

  

  The AUD/USD pair rallied to the highest since mid-May following the RBA’s policy meeting that unexpectedly raised interest rates. The cash rate was at an 11-year high of 4.1% earlier on the day. At the time of writing, the pair is trading at 0.6672. This development leaves the technical outlook …

  Read More »
• 6 June 2023 10:41 pm

  India registers record oil imports from Russia

  

  In May 2023, India recorded its highest oil import from Russia with 1.96 million barrels per day, a 15% increase from the previous peak in April. Indian imports of Russian oil surpassed the total purchases from Saudi Arabia, Iraq, UAE, and the US combined, according to industry data. Russian crude …

  Read More »
• 6 June 2023 9:34 pm

  Oil steadies amid economic fears counterbalancing Saudi decision

  

  Oil prices were little changed on Tuesday after erasing earlier losses as worries over sluggish global economic growth offset Saudi Arabia’s pledge to deepen output cuts. Brent futures remained unchanged at $76.71 a barrel, while US West Texas Intermediate crude rose 12 cents, or 0.2%, to $72.27 for some time …

  Read More »
• 6 June 2023 8:27 pm

  NY Fed: Global supply chain pressures further cooled in May

  

  The New York Fed data showed that supply chain pressures cooled again in May, further easing what had been one of the key factors that had helped drive surging inflation pressures around the world. The Global Supply Chain Pressure Index stood at -1.71, from the revised -1.35 for April. The …

  Read More »
• 6 June 2023 7:21 pm

  Rate hike expectations to influence gold till FOMC decision

  

  Gold price is struggling to capitalize on Monday’s recovery gains and trades in a narrow range at around $1,960.25 on Tuesday. The benchmark 10-year US Treasury bond yield holds steady near 3.7% and doesn’t allow XAU/USD to gather bullish momentum. Economists claim that gold price will be influenced by the …

  Read More »
• 6 June 2023 5:18 pm

  The Turkish lira fell again as investors await a shift in economic policy

  

  The Turkish lira lost 1 percent of its value against the dollar on Tuesday, continuing the declines it recorded during the last period, amid expectations that the state will end its control over the currency after the appointment of Mehmet Simsek as Minister of Finance. Investors are anticipating a shift …

  Read More »
• 6 June 2023 4:05 pm

  Eurozone Retail Sales decline 2.6% YoY in April

  

  Eurozone’s Retail Sales came in at 0% MoM in April versus 0.2% expected and -0.4% previous, the latest official figures released by Eurostat showed on Tuesday. On a yearly basis, the bloc’s Retail Sales dropped 2.6% in April versus -3.3% booked in March and -1.8% expected. The Retail Sales released …

  Read More »
• 6 June 2023 3:01 pm

  AUD/USD after RBA meeting

  

  The AUD/USD has risen for the fourth day in a row, and it is set to continue its upward trajectory. The Reserve Bank of Australia (RBA) raised interest rates on Tuesday, which lifted the Australian dollar across the board. Gains were restrained throughout the American session owing to risk aversion, …

  Read More »
• 6 June 2023 1:40 pm

  European shares opened flat amid fears of raising interest rates

  

  European stocks opened flat on Tuesday, as fears of major central banks raising interest rates to counter slowing economic growth offset support from defensive healthcare stocks. The European Stoxx 600 index settled at 459.78 points. The index had fallen in the previous session due to data that indicated weak activity …

  Read More »