Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 20 July 2023 7:51 pm

  Soaring T-yields boost US dollar’s recovery

  

  The US dollar has gained momentum during the trading session, with the US Dollar Index (DXY) climbing to a weekly high above 100.50. Rising US Treasury bond yields have provided a significant boost to the US currency. The number of first-time unemployment benefits applications in the US declined to 228,000 …

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• 20 July 2023 4:57 pm

  US: Weekly Initial Jobless Claims decline to 228K

  

  Initial applications for unemployment insurance reached 228,000 in the week ending July 15, according to the US Department of Labor’s (DOL) release of weekly data on Thursday. Since early May, this reading is the lowest. The print came in below/above market forecasts of 242,000 and follows the prior week’s 237,000 …

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• 20 July 2023 3:11 pm

  The current account surplus for the eurozone rose in May

  

  Data from the European Central Bank showed on Thursday that the eurozone’s current account surplus rose in May as the goods and services trade surplus widened. On the basis of adjusted data, the euro area, which includes 20 countries, recorded a surplus of 9.1 billion euros, compared to 3.8 a …

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• 20 July 2023 1:13 pm

  European stocks decline as investors absorb mixed business results

  

  European stocks fell at the open on Thursday, as investors assessed mixed business results announced by companies in the region, and disappointing financial results from two US giants, Netflix and Tesla, weighed on sentiment. The pan-European STOXX 600 index was down 0.2 percent by 0705 GMT. Frankfurt-listed shares of Netflix …

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• 20 July 2023 11:22 am

  The White House: Russia may attack civilian cargo ships in the Black Sea

  

  The White House warned on Wednesday that Russia may expand its targeting of Ukrainian grain facilities to include attacks on civilian shipping in the Black Sea. White House National Security Council spokesman Adam Hodge said that US officials have information indicating that Russia has deployed additional naval mines at the …

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• 20 July 2023 10:17 am

  Aussie rises after strong jobs data and yuan jumps

  

  The Australian dollar rose on Thursday after the country’s jobs data beat expectations, while the yuan rose after China moved to curb its currency’s decline by loosening a rule for cross-border financing. Thursday’s data showed that employment in Australia easily beat expectations for the second consecutive month in June, with …

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• 20 July 2023 9:35 am

  Gold is at the highest level in 9 weeks

  

  On Thursday, gold prices rose to a nine-week high thanks to a weaker dollar and bets that the Federal Reserve may soon halt its rate-raising cycle. And by 0325 GMT, spot gold rose 0.5 percent to $ 1987.18 an ounce, the highest level since mid-May. US gold futures rose 0.4 …

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• 20 July 2023 4:20 am

  Market Drivers – US Session – July 19

  

  Markets responded favourably to the UK’s Consumer Price Index reading that came in below expectations while anticipating a slew of tech profits that were scheduled to be released after the US session. The value of the US dollar increased significantly. The US Dollar index, or DXY, ranged from a low …

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• 20 July 2023 2:18 am

  EUR/GBP rises to its highest level since May post UK CPI data

  

  The The EUR/GBP cross peaked at a daily high of 0.8700 and then settled near 0.8660. UK’s headline CPI declined to 7.9% YoY, lower than expected.Lower British yields and dovish bets on the BoE made the GBP struggle to find demand on Wednesday. The EUR/GBP set a fourth consecutive day …

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• 20 July 2023 1:55 am

  Oil prices retreat on profit-taking despite tighter U.S. supplies

  

  Oil prices edged lower on Wednesday, as investors took profits following earlier gains on tighter U.S. crude supplies and China’s pledge to reinvigorate its economic growth.Brent futures dipped 17 cents at $79.46 a barrel, while U.S. West Texas Intermediate (WTI) crude dropped 40 cents at $75.35 a barrel.Prices pared gains …

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• 20 July 2023 12:56 am

  Netflix earnings in Q2 mixed despite password crackdown, ad tier rollout

  

  On Wednesday, Netflix reported second-quarter financial results that came in mixed as the platform continues efforts to trim costs and boost engagement in an increasingly competitive streaming landscape.Revenue, although 2.7% higher compared to the year-ago period, missed estimates despite new initiatives like the crackdown on password sharing, which rolled out …

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• 19 July 2023 10:43 pm

  Dollar’s rebound extends despite US soft housing data

  

  The US dollar is gathering momentum against its major rival currencies midweek. The Dollar Index rose above 100.50 earlier during the US trading session. At the time of writing the Index posts 100.417.The US housing data missed expectations but failed to trigger a market reaction. The dollar started to outperform …

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• 19 July 2023 9:45 pm

  BoE’s big hike unlikely after inflation surprise

  

  The Bank of England (BoE) is unlikely to raise interest rates due to the UK’s unexpected drop in inflation in June. The BoE raised rates 13 times since December 2021 to counter soaring price rises, which have driven up borrowing costs for millions. However, the UK’s inflation rate remains almost …

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