Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 12 May 2023 12:01 am

  ECB’s de Guindos: Markets can be wrong about the terminal rate

  

  ECB Vice President Luis de Guindos said he does not anticipate a euro-area recession in the coming years. According to de Guindos, the ECB’s last decision had very high consensus and markets can be wrong about the terminal rate.“I don’t believe anybody who names a terminal rate”, he added. In …

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• 11 May 2023 11:47 pm

  Wall Street is grappling with losses related to earnings

  

  U.S. stocks dropped Thursday after disappointing earnings of Disney as well as a plunge in shares of regional banks and the threat of a U.S. debt default. Concerns of bank failure popped up again partially because of debt ceiling potential risk as well as liquidity issues regional banks recently show. …

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• 11 May 2023 10:45 pm

  What is shorting and how can it work amid recession fears?

  

  Leading investment firms are shorting US stocks as the global recession-linked fears become more and more severe. The approach is focused on shorting US stocks worth billions of dollars. This wave of selling short is a wager that the market would be under pressure as recession fears intensify. The possibility …

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• 11 May 2023 9:43 pm

  Sterling plunges after profit-taking selloff

  

  Sterling pound dropped although the rate hike decision of BoE Thursday because of heavy selling from the part of bulls who focused on profit-taking to benefit from the highs reached immediately after the central bank decision. GBP/USD rose to 1.2610 in response to rate hike decision before declining to 1.2543. …

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• 11 May 2023 9:22 pm

  Bailey: We are approaching the point of reversing monetary policy

  

  BoE governor Andrew Bailey said “We are approaching the point when we should be able to let level of rates rest” in statements delivered after central bank raised interest rate by 25 basis points. “We have not yet seen evidence that allows us to be sure rates can stay on …

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• 11 May 2023 8:24 pm

  Sterling drops after BoE’s signals of inflation easing

  

  Pound Sterling slides versus the US dollar after the BoE meeting. This comes after Andrew Bailey’s comments on easing inflationary pressures. BoE Chairman adds that inflationary risks are still skewed to the upside and secondary effects are persistent. The Pound experiences heightened volatility against the dollar following the Bank of …

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• 11 May 2023 7:42 pm

  Mild recession could play as a catalyst for US equities

  

  Economists see the upcoming mild recession as a catalyst to kick-start the bull trends for US equities. According to this viewpoint, mild recession equals restart of the secular bull run.Seven of the last eight Fed hiking cycles triggered an economic recession, and US stocks historically do not bottom until a …

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• 11 May 2023 5:50 pm

  US: Weekly Initial Jobless Claims jump to 264K

  

  The weekly data published by the US Department of Labour (DOL) on Thursday showed that initial jobless claims totaled 264,000 in the week ending May 6. The figure comes in above market expectations of 245,000 and follows the previous week’s unrevised figure of 242,000. The reading was the highest since …

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• 11 May 2023 5:26 pm

  US: Annual PPI rises 2.3% in April vs. 2.4% expected

  

  The Producer Price Index (PPI) for final demand in the United States grew 2.3% year on year in April, down from 2.7% in March, according to data released on Thursday by the US Bureau of Labour Statistics. This number was lower than the market’s prediction of 2.4%. In the same …

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• 11 May 2023 4:37 pm

  Bank of England raises rates and Bailey promises to “stay the course”

  

  The Bank of England raised its key interest rate by a quarter of a percentage point to 4.5% on Thursday and Governor Andrew Bailey said the British central bank would “stay the course” as it seeks to curb the fastest inflation of any major economy. The central bank is no …

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• 11 May 2023 3:26 pm

  BoE raises policy rate by 25 bps to 4.5% in May

  

  Following its May policy meeting, the Bank of England (BOE) announced that it raised the policy rate by 25 basis points (bps) to 4.5% as expected. Two policymakers, Tenreyro and Dhingra, voted to keep the policy rate on hold at 4.25%. “If there were to be evidence of more persistent …

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• 11 May 2023 1:55 pm

  Futures edge higher on inflation cheer

  

  U.S. stock index futures edged higher in the early hours of Thursday on lingering optimism over upbeat inflation data, while Disney took a hit as it lost subscribers in the prior quarter. The Nasdaq index ended Wednesday at its highest level in more than eight months, boosted by large-cap technology …

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• 11 May 2023 12:51 pm

  European stocks rose after falling for two days

  

  European stocks rose on Thursday, led by media and travel stocks, as signs of declining US inflation gave some relief to investors worried about the impact of the Federal Reserve’s tightening monetary policy. The pan-European STOXX 600 index was up 0.5% by 0822 GMT, after two straight days of losses. …

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