Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 12 May 2023 8:59 pm

  US consumer sentiment slumps on debt ceiling impasse

  

  US consumer sentiment slumped to a six-month low in May on worries that political haggling over raising the federal government’s borrowing cap could trigger a recession. The University of Michigan’s survey also showed consumers’ long-term inflation expectations jumping this month to their highest reading since 2011, bad news for the …

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• 12 May 2023 8:42 pm

  EUR/USD prints one-month lows near 1.0850

  

  The US dollar is grinding towards achieving weekly gains in all markets. The EUR/USD pair is impacted by higher US yields and gloomier mood. The couple’s week is at its lowest point since September 2022.For the fourth time in the previous five days, the EUR/USD is declining on Friday, adding …

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• 12 May 2023 7:15 pm

  Bitcoin slides amid declining liquidity

  

  On Friday, Bitcoin slides down $26,376 getting closer to reaching two-month lows as a result of worries that a “head-and-shoulders” pattern would favour the bears. Despite favourable macroeconomic conditions for risk assets, Bitcoin was unable to take advantage of the gains that may have been made amid declining liquidity.Thus, on …

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• 12 May 2023 4:37 pm

  Gold fell for the third session due to the strength of the dollar and bond yields

  

  Gold prices are set to decline for the third consecutive session on Friday, affected by rising bond yields and the dollar, but the yellow metal remained above the key level of $2,000 amid expectations of a rate cut at the end of the year. And by 1001 GMT, spot gold …

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• 12 May 2023 3:19 pm

  Dow futures rise 145 pts

  

  US equities are expected to begin higher Friday on rising hope that the Federal Reserve would stop its monetary tightening drive, however concerns about a future recession, as well as the debt ceiling and the banking sector, persist. The Dow Futures contract was up 145 points, or 0.4%, at 11:00 …

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• 12 May 2023 1:29 pm

  European stocks edge higher, Richemont earnings in focus

  

  European stock markets rose on Friday as investors digested conflicting economic statistics from the United Kingdom as well as additional quarterly corporate reports. At 08:15 GMT, the DAX index in Germany was 0.4% higher, the FTSE 100 in the United Kingdom was 0.3% higher, and the CAC 40 in France …

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• 12 May 2023 12:57 pm

  Janet Yellen: We don’t know yet when the US treasury will run out of liquidity

  

  US Treasury Secretary Janet Yellen said there was still uncertainty about when the cash needed to repay the government’s debt would run out, but she would keep Congress informed of any change in the date, which could be around June 1. Yellen told Bloomberg Television that she will meet with …

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• 12 May 2023 11:42 am

  Dollar maintains its gains, amid bets on stopping interest rate hikes

  

  The dollar remained close to a peak of more than a week on Friday after a slew of data released overnight indicated a slowdown in the US economy, as investors bet the Federal Reserve would halt interest rate increases. The dollar index, which measures the performance of the US currency …

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• 12 May 2023 11:01 am

  Gold loses its luster with the strength of dollar and economic concerns curb losses

  

  Gold prices fell on Friday as the dollar rose, but continued economic concerns and a standoff over the US debt ceiling capped losses for the yellow metal. By 0301 GMT, spot gold fell 0.3 percent to $2,010.29 an ounce, down 0.3 percent for the week. US gold futures fell 0.3 …

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• 12 May 2023 9:33 am

  Oil is on its way to a fourth weekly loss

  

  Oil prices fell on Friday, on track for their fourth weekly decline, as economic concerns in the United States and China renewed concerns about fuel demand growth in the world’s two largest oil consumers. And by 0510 GMT, Brent crude futures fell 37 cents, or 0.49 percent, to $ 74.61 …

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• 12 May 2023 2:56 am

  Market Drivers – US Session – 11/05/2023

  

  A White House official announced on Thursday that a meeting on the debt limit between US President Joe Biden and key lawmakers, which was originally set for Friday, has been postponed. To discuss lifting the debt ceiling, Biden’s advisers met on Wednesday and Thursday with Republican House Speaker Kevin McCarthy, …

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• 12 May 2023 2:36 am

  McCarthy and Biden postpone the debt ceiling discussion

  

  A White House official announced on Thursday that a meeting on the debt limit between US President Joe Biden and key lawmakers, which was originally set for Friday, has been postponed. To discuss lifting the debt ceiling, Biden’s advisers met on Wednesday and Thursday with Republican House Speaker Kevin McCarthy, …

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• 12 May 2023 1:37 am

  EUR/USD sinks to four-week lows on stronger dollar

  

  The EUR/USD pair drops to 1.0916 as US PPI data slows and unemployment claims rise, strengthening the US Dollar. US Treasury bond yields fall with investors pricing in three rate cuts by the Federal Reserve by December 2023.ECB speakers emphasize slowing inflation in the Eurozone, with further rate hikes left …

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