Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 10 May 2023 4:11 pm

  BoE Preview: to continue to hike in 25 bps steps

  

  The Bank of England (BoE) will release its monetary policy decision on Thursday at 11:00 GMT. Along with the decision, the meeting minutes and the Monetary Policy Report will be made public. Following the announcement, Governor Andrew Bailey of the Bank of England will attend a news conference at 11:30 …

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• 10 May 2023 2:56 pm

  Futures lower as focus shifts to inflation data

  

  US stock index futures fell on Wednesday as investors anticipated a crucial inflation data to determine if the Federal Reserve was effective in bringing down increasing costs. The Consumer Price Index (CPI) is predicted to have increased 0.4% last month after increasing 0.1% in March, while the so-called core CPI …

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• 10 May 2023 12:40 pm

  Turkish industrial output rose 5.5% in March

  

  Official Turkish data showed on Wednesday that the country’s industrial output jumped 5.5 percent in March on a seasonally adjusted basis and in light of calendar factors from the previous month, a month after devastating earthquakes hit the south of the country. The Turkish Statistical Institute said output fell 0.1 …

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• 10 May 2023 12:13 pm

  A slight rise in European stocks ahead of US inflation data

  

  European stocks rose slightly on Wednesday, with Credit Agricole stock rising after posting positive earnings, while investors awaited US inflation data that is likely to set expectations for a rate cut in the world’s largest economy. The pan-European Stoxx 600 index was up 0.1% by 0704 GMT. The US consumer …

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• 10 May 2023 11:40 am

  Japan’s Nikkei index is retreating from a 16-month peak amid profit-taking

  

  Japan’s Nikkei index retreated from a 16-month peak on Wednesday as cautious investors looked to book profits ahead of key US inflation data that could influence the Federal Reserve’s path on monetary policy. The results of the business of some companies also cast a shadow on their performance, as the …

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• 10 May 2023 11:11 am

  German CPI rose 7.6% y/y in April

  

  Germany’s federal statistics office said on Wednesday that the consumer price index rose 7.6 percent year-on-year in April, confirming earlier preliminary data. The bureau added that the index rose 0.6 percent compared to March.

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• 10 May 2023 3:23 am

  

  Market Drivers – US Session – Mon. 09/05/2023 The US dollar rose against its main rivals, with the US Dollar Index (DXY) rising by 0.25% and posting gains for the second day in a row. However, the index still remains near the key support level of 101.00. Wall Street dropped …

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• 10 May 2023 2:16 am

  Airbnb drops 10% after earnings report offers cautious Q2 outlook

  

  Shares of Airbnb fell in extended trading Tuesday after the company released first-quarter earnings that beat analyst estimates but offered slightly weaker-than-expected guidance and a cautious outlook for the current quarter.Airbnb swung to a net profit of $117 million from a net loss of $19 million during the year-earlier period, …

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• 10 May 2023 1:04 am

  S&P500 Futures, yields depict cautious optimism despite US default woes

  

  Market sentiment remains divided as debt-ceiling talks fails ahead of the US inflation report. The S&P500 Futures print mild gains, US 10-year Treasury bond yields snap four-day winning streak. Updates about US default, banking fallouts can entertain traders ahead of US CPI for April. Risk profile stays sluggish during early …

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• 10 May 2023 12:07 am

  WTI defends four-day winning streak ahead of US inflation data

  

  WTI bulls take a breather after four-day uptrend, sidelined of late. US SPI refill concerns, geopolitical woes join sluggish US Dollar to favor Oil buyers. Mixed sentiment, recession fears and US debt-ceiling jitters weigh on commodity price.WTI crude oil remains static around mid-$73.00s amid the early hours of Wednesday’s Asian …

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• 9 May 2023 11:04 pm

  Biden, McCarthy divided over debt ceiling but talks continue

  

  US President Joe Biden and top lawmakers failed to break a deadlock on Tuesday in face-to-face talks over raising the $31.4 trillion US debt limit but vowed to meet again with just three weeks before the country may be forced into an unprecedented default.Biden called the meeting “productive” and reported …

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• 9 May 2023 9:55 pm

  Gold climbs amid US debt ceiling woes, declining T-yields

  

  The Gold Index XAU/USD rallies on Tuesday, benefiting from concerns over the US debt ceiling and slowing Chinese manufacturing activity.Falling US Treasury bond yields support gold prices despite strong US Dollar. Eyes are focused the upcoming US CPI data, which has the potential to impact gold prices. Gold price is …

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• 9 May 2023 8:43 pm

  Sterling trades back above 1.2600 ahead of BoE’s decision

  

  The British pound drops to around the 1.26 handle ahead of key macroeconomic events for the week.  The Pound Sterling is likely to be impacted by the Bank of England meeting on “Super Thursday”. The US Dollar will look for impetus from the US Consumer Price Index data for April …

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