Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 18 April 2023 10:58 pm

  EUR/USD advances on US dollar’s weakness

  

  Due to declining US Treasury bond yields and general weakness in the US dollar (USD), the EUR/USD ends a two-day losing streak and rises and falls towards the 1.0950 level. Thus, after reaching a low of 1.0920, the EUR/USD is currently trading at 1.0961.As US Treasury bond yields decreased, the …

  Read More »
• 18 April 2023 9:54 pm

  What can Bitcoin’s latest price action tell about crypto market?

  

  The price of bitcoin is starting to show signs resembling a market top, which indicates that selling pressure may be increasing. Stablecoin interest appears to be at a low level given that whales have not shown any movement in that direction despite an increase in social mentions. At the time …

  Read More »
• 18 April 2023 7:37 pm

  Macklem: BoC considered need for rates to stay higher longer

  

  Tiff Macklem, the governor of the Bank of Canada, stated in her opening remarks before the House of Commons Standing Committee on Finance that the central bank has examined the necessity for rates to be higher for a longer period of time in order to bring inflation back to the …

  Read More »
• 18 April 2023 6:25 pm

  Ahead of API, WTI slides to multi-day lows near $80.00

  

  Prices for WTI extended last US session’s drop near $80.00 though crude oil received some initial support from encouraging Chinese data. The API’s weekly report on inventory is awaited at the moment. On Tuesday, renewed selling pressure pushes the price of a barrel of American benchmark sweet light crude oil …

  Read More »
• 18 April 2023 5:05 pm

  Canada: Annual CPI declines to 4.3% in March

  

  Inflation in Canada, as measured by the Consumer Price Index (CPI), decreased to 4.3% on an annual basis in March from 5.2% in February, Statistics Canada announced on Tuesday. This reading came in line with the market forecast. On a monthly basis, the CPI grew by 0.5% as projected. Additionally, …

  Read More »
• 18 April 2023 3:17 pm

  Johnson & Johnson rises on earnings beat, boosted full-year guidance

  

  Johnson & Johnson delivered stronger-than-expected Q1 earnings that prompted the healthcare giant to boost its full-year guidance. JNJ reported a Q1 EPS of $2.68 on revenue of $24.7 billion to top the average analyst estimate for EPS of $2.50 on revenue of $23.61B. Sales rose 5.6% year-over-year with pharma revenue …

  Read More »
• 18 April 2023 1:07 pm

  European stocks rose due to the recovery of China and attention on the results of US banks

  

  European stocks rose on Tuesday as investors awaited more US bank earnings reports to gauge the health of the sector, and a stronger-than-expected economic recovery in China boosted sentiment. The pan-European STOXX 600 rose 0.2 percent after starting the week retreating from its highest level in a year, ending a …

  Read More »
• 18 April 2023 12:36 pm

  Japan’s Nikkei closed higher for the eighth consecutive day

  

  Japan’s Nikkei rose for the eighth straight session on Tuesday, supported by gains made by banks on positive US data, and a weaker yen boosted exporters. The Nikkei index rose 0.51% to close at 28,658.83 points, close to its highest level so far this year, in the longest streak of …

  Read More »
• 18 April 2023 11:58 am

  Gold rises with the decline of the dollar

  

  Gold prices rose on Tuesday as the dollar weakened, as investors await more clues about the Federal Reserve’s interest rate path. Spot gold rose 0.2 percent to $2,001.09 an ounce by 0457 GMT. And US gold futures rose 0.2 percent to 2011.10 dollars. The dollar index fell 0.1%, making bullion …

  Read More »
• 18 April 2023 5:23 am

  Market Drivers – US Session 17/04/2023

  

  On Monday, the US Dollar Index increased for the second day in a row as the chances of the Fed raising rates again at its May meeting increased and the possibilities of a rate cut later in 2023 decreased. Data from the US exceeded forecasts, with the Empire Manufacturing Index …

  Read More »
• 18 April 2023 4:56 am

  Gold recovers on US dollar’s correction

  

  A slight pullback in the USD Index coincided with an effort at a recovery in the gold price, which scaled to close to $1,994.60. It would not be reasonable to view Gold’s upward trend as a reversal given the strong odds on another Fed rate hike.The Fed’s Beige Book will …

  Read More »
• 18 April 2023 3:11 am

  USD/CAD rebounds on stronger US dollar, Oil price

  

  After a two-day recovery from its lowest points since mid-February, the USD/CAD steadily climbs upward. The US dollar applauds hawkish Fed expectations and optimistic yields to continue the recovery from the previous week. The present oil price is affected by the stronger dollar, concerns about the economy’s recovery, and apprehension …

  Read More »
• 18 April 2023 2:00 am

  US equities advance following earliest batch of corporate earnings

  

  Monday’s trading session saw an increase in US stocks as another round of crucial earnings started. Following the fall of Silicon Valley Bank last month, investors are still paying close attention to financial institutions’ earnings. The technology-heavy Nasdaq Composite (IXIC), the S&P 500 (GSPC), and the Dow Jones Industrial Average …

  Read More »