Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 19 April 2023 4:15 pm

  Morgan Stanley profit beats estimates on wealth business strength

  

  As increased income from its wealth management division offset declining revenue from its investment banking and trading units, Morgan Stanley’s first-quarter profit exceeded expectations. However, in premarket trade, shares decreased by more than 2%. While wealth management witnessed an 11% increase in revenue and brought in $110 billion in net …

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• 19 April 2023 2:28 pm

  Oil falls, as expectations of a rate hike overshadowed the decline in US inventories

  

  Oil prices fell on Wednesday as the market assessed the possibility of the Federal Reserve raising interest rates which could slow growth and reduce oil consumption, which was offset by falling US inventories and strong Chinese economic data. And by 0641 GMT, Brent crude futures fell 35 cents, or 0.4 …

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• 19 April 2023 1:29 pm

  Dollar is recovering, supported by rising bond yields

  

  The dollar stabilized on Wednesday after swinging amid bond market volatility in previous sessions, as investors focused on US economic indicators, Federal Reserve comments and corporate earnings in search of clues to the path of interest rates. The dollar index, which measures the performance of the US currency against six …

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• 19 April 2023 12:33 pm

  Japanese Nikkei index is falling after an 8-day rise

  

  Japan’s Nikkei index closed lower on Wednesday, ending an eight-day rally, dragged down by heavyweight technology stocks. The Nikkei index fell 0.18 percent to 28,606.76 points, after closing at its highest level since Aug. 22 on Tuesday. The rise in the index was driven by optimism about billionaire Warren Buffett …

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• 19 April 2023 11:58 am

  Britain’s inflation rate fell to 10.1% in March

  

  Data from Britain’s Office for National Statistics showed on Wednesday that consumer price inflation in the country fell to 10.1 percent in March from 10.4 percent in February. Economists polled by Reuters had expected the annual rate to drop to 9.8 percent in March, further away from October’s 41-year high …

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• 19 April 2023 3:03 am

  Market Drivers – US Session 18/04/2023

  

  On a quiet Tuesday in the US session across financial markets, the US dollar fell. The Dollar Index declined again below 102.00, but it is still a long way from its recent low. US yields barely changed and remained close to recent monthly highs.Economic DataIn the first quarter, China’s GDP …

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• 19 April 2023 12:53 am

  GBP/USD awaits UK CPI to ascertain BoE’s hawkish bias

  

  Ahead of important data on Wednesday, the GBP/USD bulls are active in the market. Data on UK inflation will be released and may support the BoE’s hawkish stance. The GBP/USD currency pair has so far moved from a low of 1.2366 to a high of 1.2449, rising by 0.41% on …

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• 18 April 2023 11:51 pm

  USD/CHF’s rally stalls at 0.8900

  

  Under 0.9000, the USD/CHF pair encounters resistance, and it declines for the first time in three days. After two consecutive days of advances, the pair has dropped, down 0.17%, after reaching a weekly high of 0.8996. Prior to the closing of Wall Street, the USD/CHF is trading at 0.8969 at …

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• 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 …

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• 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 …

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• 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 …

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• 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 …

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• 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, …

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