Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 11 May 2023 8:24 pm

  Sterling drops after BoE’s signals of inflation easing

  

  Pound Sterling slides versus the US dollar after the BoE meeting. This comes after Andrew Bailey’s comments on easing inflationary pressures. BoE Chairman adds that inflationary risks are still skewed to the upside and secondary effects are persistent. The Pound experiences heightened volatility against the dollar following the Bank of …

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• 11 May 2023 7:42 pm

  Mild recession could play as a catalyst for US equities

  

  Economists see the upcoming mild recession as a catalyst to kick-start the bull trends for US equities. According to this viewpoint, mild recession equals restart of the secular bull run.Seven of the last eight Fed hiking cycles triggered an economic recession, and US stocks historically do not bottom until a …

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• 11 May 2023 5:50 pm

  US: Weekly Initial Jobless Claims jump to 264K

  

  The weekly data published by the US Department of Labour (DOL) on Thursday showed that initial jobless claims totaled 264,000 in the week ending May 6. The figure comes in above market expectations of 245,000 and follows the previous week’s unrevised figure of 242,000. The reading was the highest since …

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• 11 May 2023 5:26 pm

  US: Annual PPI rises 2.3% in April vs. 2.4% expected

  

  The Producer Price Index (PPI) for final demand in the United States grew 2.3% year on year in April, down from 2.7% in March, according to data released on Thursday by the US Bureau of Labour Statistics. This number was lower than the market’s prediction of 2.4%. In the same …

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• 11 May 2023 4:37 pm

  Bank of England raises rates and Bailey promises to “stay the course”

  

  The Bank of England raised its key interest rate by a quarter of a percentage point to 4.5% on Thursday and Governor Andrew Bailey said the British central bank would “stay the course” as it seeks to curb the fastest inflation of any major economy. The central bank is no …

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• 11 May 2023 3:26 pm

  BoE raises policy rate by 25 bps to 4.5% in May

  

  Following its May policy meeting, the Bank of England (BOE) announced that it raised the policy rate by 25 basis points (bps) to 4.5% as expected. Two policymakers, Tenreyro and Dhingra, voted to keep the policy rate on hold at 4.25%. “If there were to be evidence of more persistent …

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• 11 May 2023 1:55 pm

  Futures edge higher on inflation cheer

  

  U.S. stock index futures edged higher in the early hours of Thursday on lingering optimism over upbeat inflation data, while Disney took a hit as it lost subscribers in the prior quarter. The Nasdaq index ended Wednesday at its highest level in more than eight months, boosted by large-cap technology …

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• 11 May 2023 12:51 pm

  European stocks rose after falling for two days

  

  European stocks rose on Thursday, led by media and travel stocks, as signs of declining US inflation gave some relief to investors worried about the impact of the Federal Reserve’s tightening monetary policy. The pan-European STOXX 600 index was up 0.5% by 0822 GMT, after two straight days of losses. …

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• 11 May 2023 11:31 am

  Most Japanese stocks decline amid mixed earnings

  

  Most Japanese stocks fell on Thursday as investors balked after recent gains and assessed a mixed set of corporate earnings ahead of a high-level meeting of the Group of Seven. Mazda Motor fell 2.69% after the automaker cut sales and profit forecasts due to production restrictions. While Sumitomo Mining shares …

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• 11 May 2023 10:18 am

  Gold rebounds after trading lower on profit taking

  

  Gold prices rose on Thursday, supported by a weaker dollar and economic concerns, as investors sought more clarity on the path of the Federal Reserve’s monetary policy. And by 0131 GMT, gold in instant transactions rose 0.2 percent to $ 2032.58 an ounce. US gold futures also rose 0.2 percent …

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• 11 May 2023 9:34 am

  Oil is rising thanks to strong fuel demand data

  

  Oil prices rose in early Asian trading on Thursday after the impact of strong fuel demand in the United States outweighed fears that the world’s largest oil producer and consumer might default on its debt. And by 0015 GMT, Brent crude futures rose 26 cents, or 0.34 percent, to $ …

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• 11 May 2023 4:02 am

  Market Drivers – US Session – 10/05/2023

  

  China has reportedly informed the United States that there is little chance of a meeting between the countries’ defense ministers at a security forum in Singapore due to a dispute over sanctions. This news challenges market sentiment and weighs on the risk-barometer pair like AUD/USD which remains pressured around 0.6775 …

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• 11 May 2023 2:35 am

  ECB’s Centeno hints at rate cuts at some point during 2024

  

  European Central Bank’s Governing Council member Mario Centeno said on Wednesday that the policy will remain tight for some more time but noted that rates should start to come down at some point during 2024, as reported by Reuters.“Monetary policy in terms of fixing key rates is at the maximum …

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