Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 26 April 2023 12:17 pm

  Oil rises, supported by the decline in US crude and fuel inventories

  

  Oil prices rose in early Asian trading on Wednesday after data from the sector showed a significant drop in crude oil inventories ahead of government data. Brent crude rose 16 cents, or 0.2 percent, to $80.93 a barrel by 0006 GMT, while US West Texas Intermediate crude rose 25 cents, …

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• 26 April 2023 1:59 am

  Market Drivers – US Session 25/04/2023

  

  Gold price advanced and printed a new weekly high at around $2003, though it faltered to hold its gains above the $2000 mark. Deteriorated risk appetite fueled by worries about the US banking system, and a surge in investments in safe-haven assets. As a result, after reaching a low of …

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• 26 April 2023 1:43 am

  Gold achieves slight gains as bulls buy the dip

  

  Gold prices have recovered modest overnight losses and are holding slight gains in early US trading session on Tuesday. Gold is seeing some buying interest from bargain hunters buying the dip and as US Treasury yields have declined a bit this week. At the time of typing, gold is trading …

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• 25 April 2023 11:15 pm

  Will Biden’s veto resolve the debt ceiling dilemma?

  

  On Tuesday, US President Joe Biden threatened to veto legislation that would tie support for raising the debt ceiling to significant spending cuts. The White House declared that it opposed the bill and that “the President has been clear that he will not accept such attempts at hostage-taking.” The legislation …

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• 25 April 2023 10:05 pm

  USD/CAD rallies, benefits from risk aversion

  

  The USD/CAD currency pair gained on Tuesday, moving up more than 0.7% from a day’s low of 1.3524 to a high of 1.3637. The risk sentiment in Europe has deteriorated due to resurfacing banking concerns, and this is sinking all ships, with high beta currencies like the Canadian Dollar bearing …

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• 25 April 2023 8:55 pm

  US stocks slide ahead of key earnings

  

  As investors processed a flurry of significant quarterly reports and readied themselves for the start of the big tech earnings season, stocks were trading lower on Tuesday. A 122 point, or 0.4%, decline in the Dow Jones Industrial Average was seen. The Nasdaq Composite was down 1% and the S&P …

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• 25 April 2023 7:43 pm

  Risk aversion drags GBP/USD down from weekly highs

  

  After reaching a weekly high of 1.2507, the GBP/USD pair changes direction and declines to the 1.2397 level, at the time of typing, as a result of risk aversion that caused flows towards safe-haven assets. Despite the fact that US Treasury bond yields are falling, the US Dollar (USD) is …

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• 25 April 2023 5:51 pm

  Wall St opens lower on mixed earnings, First Republic shares plunge

  

  Following a mixed batch of earnings results, Wall Street’s major indexes opened lower on Tuesday. A decline in deposits at local lender First Republic Bank added to worries about the banking industry. At the start, the Dow Jones Industrial Average dropped 47.06 points, or 0.14%, to 33,828.34. The Nasdaq Composite …

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• 25 April 2023 4:27 pm

  PepsiCo raises full-year income outlook as Q1 earnings beat estimates

  

  After price increases enabled the American food and beverage business to offset an increase in input costs and report better-than-expected first-quarter results, PepsiCo Inc. increased its annual profit guidance. The firm that owns brands including Pepsi carbonated beverages and Frito-Lay potato chips announced that it has raised its previous expectation …

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• 25 April 2023 3:26 pm

  Oil is rising with hopes of higher Chinese demand

  

  Oil prices rose and were on track for a third day of gains on Tuesday, supported by investor optimism that holiday travel in China will boost fuel demand and expectations of lower US crude inventories. Overseas flight bookings in China during the upcoming Labor Day holiday indicate a continued recovery …

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• 25 April 2023 12:49 pm

  European stocks are falling

  

  European stocks fell on Tuesday as investors weighed more corporate results and comments from European Central Bank policy makers on interest rate expectations. The European Stoxx 600 index fell 0.4 percent by 0718 GMT, affected by the decline in the mining and banking sectors, 1.8 percent and 1.5 percent, respectively, …

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• 25 April 2023 12:05 pm

  Japan’s Nikkei index touches an 8-month high

  

  Japanese stocks rose slightly on Tuesday, with the Nikkei index touching an eight-month high, amid optimism about the results of a group of companies and the expansion of government subsidies for chip production. Momentum eased in the afternoon session, dragged down by steel producers amid indications of weaker demand from …

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• 25 April 2023 11:32 am

  China’s gold production recovered to pre-pandemic levels and demand jumped

  

  China’s gold production rose 6.9 percent in the first quarter of 2023, returning to pre-pandemic levels, thanks in part to a jump in demand for gold and jewelry, as investors sought a safe haven away from financial market volatility. China’s Association of Gold Companies said on Tuesday that China’s production …

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