Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 28 April 2023 7:36 pm

  What can Friday’s PCE data tell about US economy?

  

  The Personal Consumption Expenditures Price Index declined to 4.2% on a yearly basis in March from 5.1% in February, according to the US Bureau of Economic Analysis. The annual Core PCE Price Index, the Federal Reserve’s preferred gauge of inflation, edged lower to 4.6% from 4.7% in the same period, …

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• 28 April 2023 6:26 pm

  GBP/USD seeks momentum beyond 1.2500

  

  The GBP/USD pair turned positive for the third straight day and climbed to a two-week high on Friday. The US dollar retreats from a two-and-half-week-high touched this Friday in reaction to the softer US macro data, which is seen lending some support to the GBP/USD pair. The pair’s uptick, marking …

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• 28 April 2023 4:50 pm

  Germany’s economy slowed in the first quarter

  

  Data on Friday showed that the German economy slowed in the first quarter, as higher exports and capital investment offset a decline in government and household consumption. The Federal Statistics Office said the gross domestic product was unchanged on a quarterly basis. Analysts polled by Reuters had expected growth of …

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• 28 April 2023 2:44 pm

  Oil is heading to record the second monthly loss under on weak US data

  

  Oil prices are set to record another monthly decline on Friday after disappointing US economic data and uncertainty about an interest rate hike affected demand expectations. By 0946 GMT, Brent crude futures for June delivery were up 42 cents, or 0.5 percent, at $78.79 a barrel. These contracts expire on …

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• 28 April 2023 1:37 pm

  European stocks rise amid strong results

  

  European stocks rose on Friday, echoing overnight gains on Wall Street, supported by strong corporate earnings as investors awaited first-quarter GDP growth estimates in the euro zone to assess the strength of the region’s economies. The pan-European Stoxx 600 rose 0.3 percent, but was on track for its first weekly …

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• 28 April 2023 12:54 pm

  German unemployment rises more than expected in April

  

  German unemployment rose more than expected in April, Labour Office figures showed on Friday, as a sluggish economy took its toll on the labour market. The Federal Labour Office said the number of people out of work increased by 24,000 in seasonally adjusted terms to 2.567 million. Analysts polled by …

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• 28 April 2023 11:42 am

  Japan’s Nikkei at an 8-month peak after the central bank maintained its stimulus policy

  

  Japan’s Nikkei rose to an eight-month high on Friday after the Bank of Japan kept its ultra-loose monetary policy unchanged, boosting the index further after a series of strong corporate results boosted it. The Nikkei index rose to 28,879.24 points for the first time since August 19, and closed near …

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• 28 April 2023 3:10 am

  Market Drivers – US Session 27/04/2023

  

  On the back of positive earnings announcements, Wall Street saw its best day in a week on Thursday, with the Dow Jones rising 1.57% and the Nasdaq rising 2.43%. Surprisingly, Meta Platforms increased by approximately 14% on Thursday. Companies including Exxon Mobil, Chevron, PetroChina, China Construction Bank, Sony, and Mercedes-Benz …

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• 28 April 2023 2:24 am

  EUR/USD defends corrective bounce after volatile US session

  

  The EUR/USD pair seesaws around 1.1030 after a volatile US session. The pair is trading at 1.1026 at the time of writing. On Thursday, the first readings of the US Gross Domestic Product (GDP) for the first quarter (Q1) of 2023, also known as Advance readings, marked mixed outcomes. Headline …

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• 28 April 2023 1:23 am

  Gold steadies below $1,990 after key US data

  

  The US economy grew slower than anticipated in the first quarter of the year. Stock markets are on the rise amid upbeat corporate earnings reports as gold is technically neutral, although, with absent demand for US dollar, the risk skews to the upside.Gold failed once again to penetrate the $2,000 …

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• 28 April 2023 12:21 am

  WTI’S comeback closes chart gap as EIA slammed by OPEC

  

  WTI crude oil is up by some 0.6% and has traveled within a range of between $75.24 and $74.08 so far. Following two days of losses that cut prices to the lowest since late March, the black gold is back on the mend in a mini short squeeze.WTI has closed …

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• 27 April 2023 10:53 pm

  Meta stock surges following earnings

  

  After the social networking behemoth announced earnings that exceeded expectations, Meta’s stock is having a field day on Thursday, rising roughly 14%. The movement was sufficient to push the shares to 52-week highs, and they are now on the verge of a significant turning point. Following strong quarterly results from …

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• 27 April 2023 9:36 pm

  World Bank expects global commodity prices to decline in 2023

  

  This year, it’s anticipated that the cost of energy, food, and metals will continue to decline. According to a new World Bank research, prices are projected to continue to fall in 2023, but consumers won’t likely experience much respite because commodity costs are still higher than they were before the …

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