Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 6 April 2023 12:59 pm

  Japan’s Nikkei index closed at its lowest level in two weeks

  

  Japan’s Nikkei index closed at a two-week low on Thursday, driven by selling in exporters’ stocks after the yen rose overnight, while heavyweight technology stocks followed the Nasdaq’s decline. The Nikkei index fell 1.22 percent to close at 27,472.63 points, the lowest level since March 24. The broader Topix index …

  Read More »
• 6 April 2023 4:19 am

  Market Drivers – US Session 05/04/2023

  

  Despite gloomy US data, the US Dollar rose after two days of significant losses. On Wednesday, bonds increased in value while equities on Wall Street finished neutral. Even though economic data and stock prices are slowing down, the bond market is still warning of an impending recession. From two-month lows, …

  Read More »
• 6 April 2023 4:08 am

  USD/CHF struggles to recover ahead of Swiss Unemployment

  

  Early on Thursday, the USD/CHF pair declines to 0.9060 after an unsuccessful attempt to rebound from the 22-month low set the previous day. As a result, the Swiss Franc pair applauds the US Dollar’s general weakening before significant employment statistics.On Wednesday, the dollar had a corrective rebound as negative US …

  Read More »
• 6 April 2023 1:20 am

  AUD/USD stuck by the US dollar´s rebound

  

  The AUD/USD pair has been stuck by the US dollar´s rebound as all eyes shift to the awaited US NFP data1. The AUD/USD is trading at 0.6720 stuck between 0.6676 and 0.6779 so far12. The US Dollar has been firmer on Wednesday, recovering from two-month lows as investors lightened their …

  Read More »
• 6 April 2023 12:23 am

  Gold struggles not to reverse course before NFP data

  

  The price of gold is fluctuating on Wednesday along with the US Dollar, but it is holding steady around the $2,020s at midday after moving from a low of $2010.09 to a high of $2032.11 so far. At the time of writing, the precious metal is selling for $2020.65 per …

  Read More »
• 5 April 2023 11:49 pm

  GBP/USD struggles amid recession fears, speculations on Fed’s pause

  

  the GBP/USD faces strong resistance at around 1.2500 and retraces due to market’s risk aversion as investors assess a possible recession in the United State. The latest US economic data paints a gloomy scenario, which is already foreseen by the US Federal Reserve (Fed) as the last piece of the …

  Read More »
• 5 April 2023 10:42 pm

  US dollar rebounds despite disappointing US data

  

  The US Dollar Index has rebounded slightly after a two-day slide despite disappointing US data. The inflation component of the PMI survey, the Price Paid sub-index, edged lower to 69.5 from 65.6 in February. The Employment sub-index fell to 51.3 from 54. Economic activity in the US services sector expanded …

  Read More »
• 5 April 2023 10:06 pm

  Nasdaq sinks on weak US economic data

  

  US stocks were mostly down during the US trading session, with tech stocks sinking more markedly, after another hiring report showed a slowdown in private-sector job growth and a separate print showed growth at US service providers also experienced a pullback.The S&P 500 moved down 0.5%, while the Dow Jones …

  Read More »
• 5 April 2023 7:07 pm

  ISM Services PMI declines below expectations

  

  With the ISM Services PMI falling to 51.2 from 55.1 in February, economic activity in the US services sector grew at a slower rate in March. In comparison to the market forecast of 54.5, this number was weaker. After this news, the US Dollar Index continues within its daily range …

  Read More »
• 5 April 2023 5:33 pm

  US: Goods and services deficit expands in February

  

  The figures released on Wednesday by the US Census Bureau and the US Bureau of Economic Analysis showed that the international trade imbalance in goods and services increased by $1.9 billion to $70.5 billion in February. This result was worse than the market projection of a $69 billion deficit. “February …

  Read More »
• 5 April 2023 5:15 pm

  Canada: International Merchandise Trade surplus narrows in February

  

  According to a Statistics Canada report released on Wednesday, Canada’s merchandise trade surplus with the rest of the world fell from C$1.2 billion in January to C$0.42 billion in February. This result was worse than what the market had anticipated, which was a surplus of C$1.8 billion. “Exports were down …

  Read More »
• 5 April 2023 4:55 pm

  US private sector employment rises by 145K in March vs. 200K expected

  

  According to figures released on Wednesday by Automatic Data Processing (ADP), private sector employment in the US increased by 145,000 in March. This reading was lower than the 200,000 market forecast. Positively, February’s reading of 242,000 was increased to 261,000. Nela Richardson, chief economist of ADP, commented on the figures, …

  Read More »
• 5 April 2023 4:11 pm

  Gold extends its gains as US data supports bets of slowing interest rate hikes

  

  Gold prices recorded their highest levels since March 2022 on Wednesday, as they continued to rise after weak US economic data reinforced bets on slowing the pace of raising US interest rates. Spot gold rose 0.1% to $2,021.97 an ounce by 0925 GMT, while US gold futures settled at $2,038.70. …

  Read More »