Noor Trends News, Technical Analysis, Educational Tools and Recommendations

July, 2023

• 13 July 2023 11:37 am

  The British economy contracted slightly less than expected in May

  

  Britain’s economy contracted less than expected in May despite the impact of strikes and an extra holiday for banks to mark King Charles’ coronation, putting it on track to avoid contraction in the second quarter of the year. The Office for National Statistics said on Thursday that Britain’s economic output …

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• 12 July 2023 10:10 pm

  Why Is Portugal Warning Of More ECB Hiking?

  

  Portugal warned that further interest rate hikes by rhe European Central Bank will put the Eurozone growth in peril. The country’s finance minister says tightening to date is not fully absorbed. Further interest-rate increases by the European Central Bank would add to the dangers for the euro-area economy as it …

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• 12 July 2023 9:59 pm

  US stocks climb post softer US inflation data

  

  US stocks climbed after a softer than expected inflation report for June revived hopes the Federal Reserve was nearing the end of its interest rate increases.The Dow Jones Industrial Average was up 265 points or 0.8%, while the S&P 500 was up 0.9% and the NASDAQ Composite was up 1.2%. …

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• 12 July 2023 8:42 pm

  Weak US CPI data drags USD/CHF lower to 8-year low

  

  The USD/CHF pair has retreated to an 8-year low due to weak US CPI data, which indicates a more balanced supply-demand situation. The Consumer Price Index shows inflation cooling, with core CPI indicating a more balanced supply-demand situation. With inflation above the Fed’s 2% target, odds for a significant rate …

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• 12 July 2023 7:42 pm

  Macklem explains policy after BoC hike decision

  

  The Bank of Canada announced that it will raise the benchmark interest rate by 25 basis points to 5% in July, following its July policy meeting. This decision came in line with market expectations, as the Canadian economy has been stronger than expected and more momentum in demand. The BoC …

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• 12 July 2023 4:34 pm

  Dollar is falling ahead of US inflation data, and sterling is at its highest level in 15 months

  

  The dollar fell, hitting a two-month low on Wednesday, July 12, against other major currencies ahead of the release of US inflation data, while the British pound rose to a 15-month high on expectations that the Bank of England will continue to raise interest rates. The yen jumped to the …

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• 12 July 2023 3:00 pm

  Nikkei records its lowest level in a month affected by the rise of the yen

  

  Japanese stocks recorded the worst performance among Asian markets on Wednesday, July 12, with the Nikkei index falling to its lowest level in a month, as the yen’s rise curbed a rally in the market, but the possibility of listing a unit of the SoftBank Group limited losses. The Nikkei …

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• 12 July 2023 1:58 pm

  European stocks rise ahead of the release of US inflation data

  

  European stocks rose on Wednesday ahead of the release of US inflation data that will determine whether the Federal Reserve is close to ending its monetary tightening cycle. The pan-European Stoxx 600 index rose 0.3 percent in early trade. US data, due at 1230 GMT, is expected to show the …

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• 12 July 2023 1:12 pm

  OPEC Secretary General: We expect global energy demand to rise by 23% until 2045

  

  Haitham Al-Ghais, Secretary-General of the Organization of the Petroleum Exporting Countries (OPEC), said during an oil and gas conference in Nigeria that global energy demand is expected to rise by 23% until 2045. He added, “The global demand for energy is expected to increase by a significant rate of 23% …

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• 12 July 2023 3:35 am

  Market Drivers – US Session – 11/07/2023

  

  The US Dollar weakened during the US trading session ahead of the key CPI data in the United States. On Wall Street, the Dow Jones gained 0.93% and the Nasdaq rose 0.55%. Gold rose to $1,940, while Silver finished flat around $23.10. Crude oil prices rose more than 2%.The improvement …

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• 12 July 2023 2:18 am

  Bank of Canada expected to hike by 25 basis points

  

  The Bank of Canada is set to announce its Interest Rate Decision on Wednesday, July 12 at 14:00 GMT. The BoC is expected to hike rates by 25 basis points (bps) to 5.00%, contrary to its pause hints1. The decision will be published alongside a Monetary Policy Report, containing updated …

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• 12 July 2023 1:54 am

  Investors confused over Bitcoin’s recent range

  

  A short-term decline to $27,330 is anticipated to follow the price consolidation of bitcoin. A sell signal for ethereum causes an initial slump, but bears aim for $1,767. The $0.433 and $0.413 steady support levels will likely be retested by the ripple price. The price of bitcoin is still fluctuating …

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• 12 July 2023 12:43 am

  WTI up on China-linked sentiment as correction eyed

  

  On the day, WTI crude oil is up due to mood related to China. Intense resistance is being tested by WTI. The dynamic trendline support is being watched for bears, who are lurking. The largest oil and gas producer in China, China’s National Petroleum Corp. (CNPC), reduced its prediction for …

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