Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 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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• 5 April 2023 2:27 am

  EUR/USD fluctuates as investors await fresh direction from US data

  

  As of this writing, the EUR/USD is fluctuating at 1.0954, ahead of the US Employment and ISM Services PMI data. An important drop in US job openings suggests that the US labour market is currently cooling. The recent increase in the price of oil may cause inflation in the Eurozone, …

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• 5 April 2023 1:22 am

  RBA rate decision puts pressure on the AUD/USD

  

  The policy rate was maintained by the Reserve Bank of Australia at 3.60%. Inflation has reached its high, the labour market is still extremely tight, and additional tightening may be necessary, according to the RBA’s Statement.The Reserve Bank of Australia kept interest rates constant on Tuesday, thus the AUD/USD pair …

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• 5 April 2023 12:35 am

  Wall Street closes lower on renewed recession concerns

  

  Tuesday saw a lower closing price on Wall Street as signs of a slowing economy increased worries that the Fed’s efforts to contain decades-high inflation may trigger a severe recession.All three major indices declined after statistics revealed that industrial orders dropped for a second consecutive month and that job vacancies …

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• 4 April 2023 10:41 pm

  Gold price benefits from US data, economic concerns

  

  Gold price jumped above $2,020, reaching the highest level since March of last year. However, analysts and economists believe that the precious metal could correct lower if higher crude oil price sparks the existing inflation fears.Gold’s strength was by no means intuitive: after all, the significant rise in the oil …

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• 4 April 2023 9:26 pm

  USD/CAD surges above 1.3450 despite US dollar’s weakness

  

  In the American session, the USD/CAD pair picked up steam and crossed the 1.3450 level. With dismal US statistics, the US Dollar Index remains stuck in the red far below 102.00. WTI crude fell to around $80 after rising earlier.After Monday’s steep loss, USD/CAD was rather calm on Tuesday during …

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