Noor Trends News, Technical Analysis, Educational Tools and Recommendations

May, 2023

• 8 May 2023 1:24 pm

  Gold shines with anticipation of US inflation data

  

  Gold prices rose on Monday as the dollar weakened as investors await key US inflation data due this week that could influence the Federal Reserve’s monetary policy stance. Spot gold rose 0.2 percent at $2,020.80 an ounce by 0634 GMT. And US gold futures rose 0.2 percent to $ 2029.30. …

  Read More »
• 8 May 2023 12:04 pm

  Japan stocks closed lower amid a strong yen and concerns in the US banking sector

  

  Japanese stocks closed lower on Monday as investors sold stocks as the yen rose against the dollar and concerns about the US banking sector persisted. The Nikkei index fell 0.71 percent to 28,949.88 points, closing below the 29,000 level for the first time since April 28. The index hit its …

  Read More »
• 8 May 2023 10:51 am

  Oil is rising as recession fears begin to recede

  

  Oil prices rose slightly in early Asian trading on Monday as fears of a recession in the United States began to recede, after causing prices to fall for three consecutive weeks for the first time since November. Brent crude futures rose 6 cents to $75.36 a barrel by 0022 GMT. …

  Read More »
• 8 May 2023 2:39 am

  Financial Markets’ Weekly Recap, May 1-5

  

  The Fed delivered as expected on Wednesday by raising interest rates by 25 basis points and signaling a pause. However, renewed banking developments stole the headlines from the Fed and triggered a fresh wave of risk aversion, as well as bets of rate cuts during the second half of the …

  Read More »
• 6 May 2023 2:46 am

  Market Drivers – US Session 05/05/2023

  

  EUR/USD finished the week flat after the European Central Bank (ECB) meeting, where the ECB raised rates as expected. The pair approached 1.1100 but then pulled back. Although the correction was limited, it continues to trade sideways in the short term around 1.1000. USD/JPY had its worst week since March, …

  Read More »
• 6 May 2023 1:37 am

  Bitcoin retreats after robust US Nonfarm Payrolls

  

  Following the publication of the US Nonfarm Payrolls data for April, the price of bitcoin corrected in the shape of a sizable bearish engulfing candle on the five-minute price chart. After the jobs news came in hotter than anticipated, the risk asset saw a knee-jerk reaction from market players who …

  Read More »
• 6 May 2023 12:27 am

  Oil bounces amid robust US jobs data despite slowdown worries

  

  WTI oil recovers with a 3% rise, but fears about rate hikes are lurking, possibly casting a shadow over the oil market. An increase in US employment helps Wall Street recover and reduces the influence of the dollar on oil prices. Despite supply curbs from OPEC+, China’s declining manufacturing activity …

  Read More »
• 5 May 2023 10:53 pm

  Fed’s Bullard: Rate hike this week was “a good next step”

  

  St. Louis Federal Reserve President James Bullard, at a conference held by the Economic Club of Minnesota, supported the 25 basis point rate hike that the Fed took this week, calling it “a good next step.” Bullard also noted that there is a significant amount of inflation in the economy. …

  Read More »
• 5 May 2023 9:28 pm

  How does the US dollar react to Friday’s NFP data?

  

  For the thirteenth week in a row, the US exceeded estimates by 253,000 jobs in April. With an unexpected increase of 0.5%, wage growth revealed a healthy labour market. The market-critical Fed rate hike in June is not likely to occur despite the robust data. March’s reading of 236,000 got …

  Read More »
• 5 May 2023 8:31 pm

  Sterling recovers after post-NFP

  

  The Sterling recovered after a post-NFP crash, pushing to new highs in mid-1.26. The US Bureau of Labour Statistics reported 253K new jobs and Average Hourly Earnings rose, suggesting persistent inflationary pressures. This led to US Dollar buying that weighed on the pair. The GBP/USD has recovered all the losses …

  Read More »
• 5 May 2023 7:38 pm

  AUD/USD sharply climbs despite solid US NFP data

  

  The United States just released a fantastic jobs report, which improved market mood as shaky regional bank stocks rose following the recent instability in the US banking sector. This is why the AUD/USD is rising significantly. After falling to a low of 0.6607, the AUD/USD is currently trading at 0.6730, …

  Read More »
• 5 May 2023 4:24 pm

  Dollar is falling slightly ahead of the US jobs report

  

  The dollar fell slightly against other major currencies on Friday, as problems in the banking sector increased expectations of a US interest rate cut later in the year, while eyes turned to an upcoming monthly US jobs report. The pound rose to the highest level in almost a year, the …

  Read More »
• 5 May 2023 2:46 pm

  Russian ruble rises to the highest level in a month

  

  The Russian ruble rose during trading today, to the highest level in more than a month, to continue its gains for the fifth consecutive session, as oil prices stabilized after the recent decline, which somewhat reduced the impact of the decrease in the supply of foreign currencies in Russia. The …

  Read More »