Open Demo Account

Market Analysis

July, 2023

  • 5 July 2023 9:41 pm

    US equities retreat ahead of Fed minutes

    Prior to the release of the Federal Reserve’s minutes from its June meeting, Wall Street’s major indexes declined on Wednesday as dismal economic data from the US and China as well as escalating Sino-US tensions dampened market mood. According to a Commerce Department study, US industrial orders for May 2023 …

    Read More »
  • 5 July 2023 8:47 pm

    Bitcoin price maneuvering, confusing short-term traders

    Bitcoin price shows a massive drop in volatility as it consolidates around the $30,000 psychological level. A potential distribution pattern is brewing and could trigger an 8.66% pullback. Bitcoin price has been trading in a tight range for nearly two weeks now with no signs of resolution. But a closer …

    Read More »
  • 5 July 2023 7:36 pm

    Gold sharply reverses from weekly highs ahead of FOMC minutes

    Gold is suffering from a volatile session for metals as the US dollar performs steadily. After spiking to the highest level since June 23, XAU/USD turned to the downside. Gold is losing momentum, and the reversal could expose $1,900. At the time of writing, the precious metal is trading at …

    Read More »
  • 5 July 2023 3:23 pm

    Fed meeting minutes to offer clues on future rate hike appetite

    The minutes of the Federal Reserve’s June policy meeting, which will be issued on Wednesday, are expected to indicate an intense discussion among officials who, on balance, look inclined to favour stronger action to reduce inflation. The meeting minutes, which are scheduled at 2 p.m. EDT (1800 GMT), will arrive …

    Read More »
  • 5 July 2023 1:36 pm

    UK business momentum slows in June despite falling inflation -PMI

    The private sector in the United Kingdom slowed dramatically last month, despite reduced inflation, as increased Bank of England interest rates weighed on demand, according to a poll released on Wednesday. The S&P Global/CIPS services Purchasing Managers’ Index (PMI) for the United Kingdom fell to 53.7 in June from 55.2 …

    Read More »
  • 5 July 2023 12:56 pm

    Japan’s Nikkei decline amid profit-taking

    The Japanese Nikkei index fell at the close on Wednesday for the second day in a row, amid investors taking profits that came after a wave of rises in the market recently. Fast Retailing pressured the index after the company that owns the Uniqlo brand announced a decline in monthly …

    Read More »
  • 5 July 2023 11:25 am

    Turkey’s annual inflation slowed to 38.21% in June

    Turkey’s annual inflation slowed for the seventh month in a row, reaching 38.2% against expectations of 39.47%. In June, inflation recorded 39.5%, after a slowdown from record levels in October 2022, which reached 85.5%. On Thursday, June 22, Turkey’s central bank raised the country’s main interest rate, nearly doubling it …

    Read More »
  • 5 July 2023 10:19 am

    Oil prices are falling under the weight of fears of a global economic slowdown

    Oil prices fell on Wednesday, erasing gains from the previous session, as fears of a global economic slowdown curbing fuel demand outweighed expectations of further supply cuts due to production cuts announced by Saudi Arabia and Russia for August. Brent crude fell 14 cents, or 0.2 percent, to $76.11 a …

    Read More »
  • 5 July 2023 4:07 am

    Market Drivers – US Session – 04/07/2023

    On a quiet day marking US holiday, the US dollar posted mixed results. Commodity-linked currencies were the top performers. Markets await new information, and volatility is set to pick up on Wednesday with the release of the FOMC minutes. Then, the focus will turn to US labor market data with …

    Read More »
  • 4 July 2023 11:21 pm

    Oil prices surge 2% as market weighs supply cuts against economic outlook

    Tuesday saw a 2% increase in oil prices as traders weighed August production curbs by major producers Saudi Arabia and Russia against a gloomy forecast for the world economy. On Monday, Saudi Arabia announced that it would continue to reduce its voluntary output by 1 million barrels per day (bpd) …

    Read More »
  • 4 July 2023 9:35 pm

    Gold price benefits from weaker US dollar

    Gold futures rose, taking advantage of the decline in the US dollar since the beginning of trading on Tuesday, as stock markets and US Treasury bonds were closed to mark the Independence Day holiday.Gold futures rose to $1,924.69 per ounce, compared to the previous daily closing, which was recorded at …

    Read More »
  • 4 July 2023 8:51 pm

    NZD/USD rises on RBA’s hawkish stance amid softer US dollar

    The NZD/USD pair has gained support from the Reserve Bank of Australia’s hawkish stance and the weaker US dollar during the US holiday session. The uncertain economic outlook in the US due to mixed data and recession fears increases the likelihood of rate hikes. New Zealand’s QSBO improves in Q2, …

    Read More »
  • 4 July 2023 7:42 pm

    Canadian Dollar Surges On Rising Oil Price

    The Canadian Dollar has seen a slight increase in value due to rising oil prices and supply concerns. The Canadian Manufacturing PMI data release, which came out a few hours ago, was lower than expected and continues to show contraction, but has had a limited impact on the exchange rate.The …

    Read More »
This site contains information and opinions for the purpose of providing only general information and can not be relied upon. The information and opinions contained in this Site shall in no way constitute an offer or solicitation to buy, sell or subscribe to any investment product. Users of this site shall bear any risks arising from the use of any information, opinion, program, service or material. Noor Trends reserves the right to make any change to the Site, the information, opinions, materials, products, programs, services or prices (if any) at any time without notice.
All copyrights reserved Noor Trends