Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 6 April 2023 12:23 am

  Gold struggles not to reverse course before NFP data

  

  The price of gold is fluctuating on Wednesday along with the US Dollar, but it is holding steady around the $2,020s at midday after moving from a low of $2010.09 to a high of $2032.11 so far. At the time of writing, the precious metal is selling for $2020.65 per …

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• 5 April 2023 11:49 pm

  GBP/USD struggles amid recession fears, speculations on Fed’s pause

  

  the GBP/USD faces strong resistance at around 1.2500 and retraces due to market’s risk aversion as investors assess a possible recession in the United State. The latest US economic data paints a gloomy scenario, which is already foreseen by the US Federal Reserve (Fed) as the last piece of the …

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• 5 April 2023 10:42 pm

  US dollar rebounds despite disappointing US data

  

  The US Dollar Index has rebounded slightly after a two-day slide despite disappointing US data. The inflation component of the PMI survey, the Price Paid sub-index, edged lower to 69.5 from 65.6 in February. The Employment sub-index fell to 51.3 from 54. Economic activity in the US services sector expanded …

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• 5 April 2023 10:06 pm

  Nasdaq sinks on weak US economic data

  

  US stocks were mostly down during the US trading session, with tech stocks sinking more markedly, after another hiring report showed a slowdown in private-sector job growth and a separate print showed growth at US service providers also experienced a pullback.The S&P 500 moved down 0.5%, while the Dow Jones …

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• 5 April 2023 7:07 pm

  ISM Services PMI declines below expectations

  

  With the ISM Services PMI falling to 51.2 from 55.1 in February, economic activity in the US services sector grew at a slower rate in March. In comparison to the market forecast of 54.5, this number was weaker. After this news, the US Dollar Index continues within its daily range …

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• 5 April 2023 5:33 pm

  US: Goods and services deficit expands in February

  

  The figures released on Wednesday by the US Census Bureau and the US Bureau of Economic Analysis showed that the international trade imbalance in goods and services increased by $1.9 billion to $70.5 billion in February. This result was worse than the market projection of a $69 billion deficit. “February …

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• 5 April 2023 5:15 pm

  Canada: International Merchandise Trade surplus narrows in February

  

  According to a Statistics Canada report released on Wednesday, Canada’s merchandise trade surplus with the rest of the world fell from C$1.2 billion in January to C$0.42 billion in February. This result was worse than what the market had anticipated, which was a surplus of C$1.8 billion. “Exports were down …

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• 5 April 2023 4:55 pm

  US private sector employment rises by 145K in March vs. 200K expected

  

  According to figures released on Wednesday by Automatic Data Processing (ADP), private sector employment in the US increased by 145,000 in March. This reading was lower than the 200,000 market forecast. Positively, February’s reading of 242,000 was increased to 261,000. Nela Richardson, chief economist of ADP, commented on the figures, …

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• 5 April 2023 4:11 pm

  Gold extends its gains as US data supports bets of slowing interest rate hikes

  

  Gold prices recorded their highest levels since March 2022 on Wednesday, as they continued to rise after weak US economic data reinforced bets on slowing the pace of raising US interest rates. Spot gold rose 0.1% to $2,021.97 an ounce by 0925 GMT, while US gold futures settled at $2,038.70. …

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• 5 April 2023 1:52 pm

  European stocks decline after data on the slowdown in economic recovery

  

  European stocks fell on Wednesday as investors became cautious after data indicated a slower-than-expected recovery for the euro-zone economy. The European Stoxx 600 index fell 0.2 percent, with the industrial goods and services sector index declining 1.6 percent, while the utilities sector index rose 1.4 percent. Despite an optimistic start …

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• 5 April 2023 1:03 pm

  Japan’s Nikkei declined as the yen rose and worries about a US recession

  

  Japan’s Nikkei fell on Wednesday, its first loss in four days, as auto and energy stocks took a hit from a rising yen and fears of a US recession. The Nikkei index extended its losses in the afternoon session, to close down 1.68 percent at 27,813.26 points, dropping below 28,000 …

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• 5 April 2023 4:41 am

  

  Market Drivers – US Session 04/04/2023 While gold has jumped, US treasury yields retreated, the US dollar was seen under pressure on Tuesday. The dollar is still under pressure ahead of more employment statistics, notably the NFP on Friday, as a result of weak US economic data. On Wednesday, the …

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• 5 April 2023 4:27 am

  Why is Ethereum seen as preparing for massive rally?

  

  Analysts are optimistic about ETH as the cryptocurrency’s price is seen as preparing for a significant increase. When investors prepared for an enormous move in the altcoin with the Shapella upgrade.Analysts predict that the price of ethereum could experience a significant price increase to the $1,850 mark. Ethereum price tackled …

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