Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 21 April 2023 9:15 pm

  US PMI reading pushes USD/JPY to fresh daily peak

  

  Amid a new round of USD purchasing, the USD/JPY quickly recovers from the weekly low. The positive US PMIs support future Fed rate hike predictions and strengthen the US dollar. Spot prices are still on course to post moderate rises for a second straight week.During the early North American session, …

  Read More »
• 21 April 2023 7:37 pm

  WTI partially reverses weekly decline, advances past $78.00

  

  Prices for WTI have recovered from recent lows at $77,000. Crude oil lost four straight weeks of gains. On Friday, traders’ attitude was still negatively impacted by recession worries.Prices for WTI barrels manage to rekindle some buyer interest on Friday, moving beyond the $78.00 threshold.Following a significant rejection from post-OPEC+ …

  Read More »
• 21 April 2023 6:01 pm

  US S&P Manufacturing PMI surges to 50.4 in April

  

  S&P Global Composite PMI increased to 53.5 (flash) from 52.3 in March, indicating that the private sector of the US economy continued to grow at a brisk rate in April. This figure was higher than the 52.8 market forecast.In the same time, the S&P Global Manufacturing PMI increased to 50.4 …

  Read More »
• 20 April 2023 11:32 pm

  Auto earnings sound recession alarm

  

  Ford stock was down almost 4% on Thursday afternoon. Following Tesla’s results, and what Elon Musk had to say about them, concern accelerated about the state of the US economy, dragging down stocks across the auto industry.Tesla’s first-quarter gross profit margins, reported Wednesday evening, disappointed investors, coming in below 20%. …

  Read More »
• 20 April 2023 10:13 pm

  EUR/USD advances on US recession fears

  

  The Philadelphia Fed said that the last week saw an increase in first jobless claims in the US as manufacturing output fell. Although rates need to be higher, Cleveland’s Fed Loretta Mester is pleased with the progress on inflation.Following data from the United States that shows more economic deterioration, which …

  Read More »
• 20 April 2023 7:00 pm

  American dollar struggles to recover after worse than expected US data

  

  The second half of the week is challenging for the US dollar to keep its ground. USD is impacted by disappointing US macroeconomic data releases. The major Wall Street indices trade in the red following the opening bell.The US dollar struggles to keep its footing following Wednesday’s meager rebound. Although …

  Read More »
• 20 April 2023 2:33 pm

  Nasdaq futures fall 1% as Tesla earnings disappoint

  

  On Thursday, Nasdaq futures declined 1% as investors became concerned about the prospects for U.S. interest rates and Tesla shares fell after the electric vehicle manufacturer reported its lowest quarterly gross margin in two years. The major U.S. stock indices have held firm this week as mixed bank earnings allayed …

  Read More »
• 20 April 2023 1:57 pm

  European stocks are falling as investors await more results

  

  European stocks fell on Thursday after the mixed results of a number of companies listed on the Wall Street Stock Exchange, while investors await more economic data from the euro zone and corporate results to assess the strength of the region. The European Stoxx 600 index fell 0.2 percent, and …

  Read More »
• 20 April 2023 3:44 am

  Market Drivers – US Session 19/04/2023

  

  Financial markets experienced volatility on Wednesday, with strong price increases in currencies and metals. US stocks fluctuated between gains and losses, and although the US Dollar somewhat increased, it fell during the American session. Economic Data Fed’s Beige Book states that “economic activity was hardly changed in recent weeks. The …

  Read More »
• 20 April 2023 1:40 am

  GBP/USD bears are moving ahead eying 1.2350

  

  The GBP/USD pair is testing trendline support and running into resistance near 1.2470. The 1.2350s become accessible on a breach below trendline support. The pair, which rose from a low of 1.2392 to a high of 1.2474, is currently trading at 1.2436, down 0.02% on the day. However, as the …

  Read More »
• 20 April 2023 12:43 am

  USD/JPY bulls advance towards 135

  

  The USD/JPY pair is testing important barrier as it moves forward in the bullish trend. Bears want 132.80, while bulls aim for a break of 135.11. The price of the pair increased by 0.5% over the day, moving between a low of 133.95 and a high of 135.13. The yield …

  Read More »
• 19 April 2023 11:56 pm

  Recent data indicates BoE’s 25 bps hike in May

  

  Following the most recent UK inflation estimate, economists anticipate a 25 basis point increase in the Bank of England’s benchmark interest rate in May. Data on the UK labour market and inflation released this week have given the Bank of England (BoE) policy officials some positive surprises.Analysts revise their projections …

  Read More »
• 19 April 2023 10:46 pm

  Gold’s bears advance to test a crucial support

  

  Following price movement in both directions, the price of gold is currently consolidating. The motivating force is the Fed’s outlook, which has an eye on crucial support. As the US Dollar strengthens once more, the price of gold is down about 0.5% on the day and has fallen below the …

  Read More »