Noor Trends News, Technical Analysis, Educational Tools and Recommendations

June, 2023

• 1 June 2023 12:39 pm

  Dollar is falling amid the possibility that the Fed will stop raising interest rates

  

  The dollar fell from its highest level in two months on Thursday, as investors scaled back their expectations that the Federal Reserve will raise interest rates this month, but the House of Representatives vote to approve the suspension of the debt ceiling provided some support for the US currency. A …

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• 1 June 2023 11:50 am

  Japan stocks closed higher amid optimism about the US debt ceiling agreement

  

  Japan’s Nikkei index closed higher on Thursday, amid investors buying stocks after losses recorded in the previous session and amid optimism after the US House of Representatives approved the debt ceiling bill that will avoid the country from default. The Nikkei index rose 0.84 percent to close at 31,148.01 points, …

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• 1 June 2023 2:08 am

  

  Market Drivers – US Session – 31/05/2023 The cautious sentiments across financial markets heavily weighed on Wall Street indexes that lost ground again on Wednesday. Equity prices finished off their lows. The rebound in stocks weighed on the US dollar, which was also affected by comments from Fed officials that …

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• 1 June 2023 1:59 am

  Gold reclaims $1960s on US debt ceiling hopes, lower US bond yields

  

  Gold price stays above the $1960 mark, it is trading at $1962.09 at the time of writing, even preparing for over 1.3% monthly losses in May. Expectations of resolving the US debt ceiling issue spark a dip in US Treasury bond yields, offering a lift to the Gold Index. Dovish …

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• 1 June 2023 12:34 am

  Following German data, EUR/GBP falls below 0.8600

  

  On Wednesday, the Euro lost ground against its key competitors. Spain and Germany both posted inflation rates that fell short of market expectations. The 10-year yield on German bonds decreases and reaches weekly lows. After inflation data from Germany and Spain came in below the market consensus on Wednesday, the …

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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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