Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 18 May 2023 10:40 am

  Gold is tepid as US debt ceiling talks dominate the market mood

  

  Gold prices moved slightly on Thursday after a rally in the dollar and increased optimism about talks to raise the US debt ceiling dampened the yellow metal’s safe-haven appeal. The spot gold price remained unchanged at $1,979.76 an ounce by 0445 GMT. US gold futures fell 0.1 percent to $1,982.60. …

  Read More »
• 18 May 2023 2:48 am

  Market Drivers -US Session – 17/05/2023

  

  Wall Street indices increased by more than 1%, but the US dollar declined as market mood improved. But the US dollar received support from higher yields. The odds of a rate hike in June increased due to positive US economic statistics, optimism about a debt ceiling agreement, and a decrease …

  Read More »
• 18 May 2023 2:29 am

  Guindos: Tightening Mostly Done, But ECB Still Has A Way To Go

  

  The European Central Bank has completed most of its historic monetary-tightening campaign but there remains some ground to cover, according to Vice President Luis de Guindos.Without revealing where he sees the peak in interest rates, Guindos said Wednesday that future ECB decisions will hinge on data in the coming months. …

  Read More »
• 18 May 2023 12:19 am

  Target’s earnings better than feared as shoppers focus on basics

  

  Target Corporation climbed on Wednesday after seeing a brief decline following the Q1’s earnings report, as analysts noted that the results were better than pessimistic projections had suggested.Target’s sales declined in the most recent quarter as consumers ceased routinely splurging on trendy clothing, home goods, and other things that account …

  Read More »
• 17 May 2023 11:09 pm

  After sliding $100, could gold touch fresh highs?

  

  At the time of writing, the price of gold ranges between $1983.20 to $1983.65 per ounce. According to analysts who are long active gold at $1994/oz, the market selloff in gold is almost over, and prices will next reach new all-time highs as they anticipate imminent selling exhaustion in precious …

  Read More »
• 17 May 2023 10:07 pm

  WTI soars 3% on optimistic IEA forecast amid debt ceiling talks

  

  In the second half of 2023, the International Energy Agency forecasts a 2 million bpd supply deficit. The rise in oil prices is a result of positive developments in the US debt ceiling negotiations. Due to a slowdown in China’s economic growth, US crude oil prices are rising despite rising …

  Read More »
• 17 May 2023 8:55 pm

  Natural Gas Demand Reportedly Booming

  

  Natural gas demand has been an unexpected beneficiary of the green revolution, leading to a boom in demand for natural gas as a multi-year trend. Companies that supply major parts necessary for the natural gas business, like Chart Industries, report that business is booming and that booming business is very …

  Read More »
• 17 May 2023 7:43 pm

  Bitcoin slides below $27K as debt ceiling talks eyed

  

  Treasury Secretary Janet Yellen warned the US could breach its debt limit by June 1, potentially setting off a recession in the event of default. Yellen also and said a default “could lead to a recession,” so several analysts believe a resolution to the debt ceiling issue could potentially buoy …

  Read More »
• 17 May 2023 6:57 pm

  Wall Street’s big tech is back on Wednesday

  

  On Wednesday, Wall Street’s Big Tech will return.As investors continue to employ the strategies that have been successful for them over the previous ten years, the tech sector continues to be the primary driver of the major US stock indices. Investors are still primarily focused on discussions regarding lifting the …

  Read More »
• 17 May 2023 3:58 pm

  API: Oil stocks increased by about 3.69 million barrels

  

  Data from the American Petroleum Institute, released in its weekly report on Tuesday, revealed that US oil inventories increased by about 3.69 million barrels in the week ending May 12th. Also, the data also showed that gasoline stocks fell by about 2.46 million barrels last week. Also, distillate inventories decreased …

  Read More »
• 17 May 2023 2:52 pm

  The Japanese economy grew 1.6% year on year in the first quarter

  

  Government data showed that the Japanese economy grew by 1.6% on an annual basis in the first quarter of the year, as strong private consumption and an unexpected increase in capital spending offset the decline in external demand. The GDP figures for the first quarter far exceeded economists’ median estimate …

  Read More »
• 17 May 2023 1:34 pm

  ECB looks for new top supervisor to succeed Enria

  

  The European Central Bank said on Wednesday that it is seeking for a new top bank supervisor to replace Andrea Enria, whose tenure expires at the end of the year. Candidates for the position of chair of the ECB’s Supervisory Board, the eurozone’s most senior banking watchdog, must apply by …

  Read More »
• 17 May 2023 12:34 pm

  Japan’s Nikkei closed above 30,000 points for the first time in 20 months

  

  On Wednesday, Japan’s Nikkei index closed above 30,000 points for the first time since September 2021, supported by a weaker yen and a strong domestic earnings season. The Nikkei index ended Wednesday’s trading up 0.84 percent at 30,093.59 points, after hitting a high of 30,115.32 points in the afternoon session. …

  Read More »