Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 13 April 2023 10:07 pm

  Gold holds around $2,043 amidst US economic slowdown woes

  

  The price of gold is rising, however it is still below the year’s highs, which were previously set at about $2,048.79, as US data showed the US economy is still slowing down. As a result, the US Dollar (USD) declined as US Treasury bond yields continued to decline, while Gold …

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• 13 April 2023 7:25 pm

  IMF’s Georgieva: Inflation coming down but not fast enough

  

  The managing director of the International Monetary Fund (IMF), Kristalina Georgieva, told CNBC in an interview on Thursday that while there isn’t a financial crisis in the US, there are risks.After these remarks, the US Dollar Index remains firmly in the red and was last observed losing 0.5% at roughly …

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• 13 April 2023 6:36 pm

  EUR/USD faces minor obstacle at 1.1100

  

  The EUR/USD pair advances further and records a new 2023 high. The Euro extra upside could retest the round level at 1.1100 next.The EUR/USD pair keeps the bullish bias well in place and climbs to the 1.1040/50 on Thursday, or new year-to-date peaks.The likelihood of extra advances appears favoured for …

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• 13 April 2023 5:35 pm

  U.S. producer prices unexpectedly fall in March

  

  U.S. producer prices unexpectedly fell in March as the cost of gasoline declined, and there were signs that underlying producer inflation was subsiding. The producer price index for final demand dropped 0.5% last month, the Labor Department said on Thursday. Data for February was revised to show the PPI unchanged …

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• 13 April 2023 5:13 pm

  U.S. weekly jobless claims increase as labor market slows

  

  The number of Americans filing new claims for unemployment benefits increased more than expected last week, a further sign that labor market conditions were loosening up as higher borrowing costs dampen demand in the economy. Initial claims for state unemployment benefits rose 11,000 to a seasonally adjusted 239,000 for the …

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• 13 April 2023 1:36 pm

  Luxury goods stocks lead the European Stoxx 600 index to gains

  

  European stocks rose on Thursday, boosted by gains in luxury stocks after a report showed fashion firm LVMH posted strong first-quarter sales and on hopes the Federal Reserve will halt its tightening cycle after lower-than-expected inflation data. The pan-European Stoxx 600 index was up 0.3% by 0710 GMT. The Stoxx …

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• 13 April 2023 1:15 pm

  Japan’s Nikkei closed higher for the fifth day

  

  The Japanese Nikkei index rose for the fifth consecutive session amid optimism about the recovery of the local retail sector, while financial stocks were affected by recession fears in the United States. The Nikkei index closed 0.26 percent higher, reversing early losses and posting its longest winning streak in more …

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• 13 April 2023 4:42 am

  Market Drivers – US Session 12/04/2023

  

  Stock losses accelerated Wednesday afternoon when the minutes of the Mar 21-22 FOMC meeting showed policymakers projected a “mild recession” starting later in 2023. The minutes of the FOMC meeting on March 21–22 revealed that policymakers reduced their forecasts for rate increases this year, noting that “many participants had lowered …

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• 13 April 2023 3:29 am

  Oil prices soaring on softer US data as $90.00 targeted

  

  Despite an easing of US inflation, the oil price managed to recover. The US Dollar has been negatively impacted by a slowdown in US inflation. Last week, investors were mildly reported to have built up in oil inventories. After reaching a new four-month high of $83.48 on Wednesday, WTI and …

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• 13 April 2023 2:04 am

  USD/CHF falls on weaker US dollar post-CPI data

  

  The USD/CHF pair fell as a result of conflicting US economic news headlines that made the US Dollar weaker. The pair is trading at 0.8959 at the time of writing. As support levels threaten to fall below 0.8950, bears are waiting in the shadows. Bulls are still optimistic since resistance …

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• 12 April 2023 11:23 pm

  BoE´s Bailey: Banking crisis testing institutional structures

  

  Bank of England Governor Andrew Bailey earlier said in a speech on Wednesday before the Institute of International Finance in Washington where he is attending International Monetary Fund meetings that he did not believe ´´we face a systemic banking crisis.”The Pound rose towards $1.25 vs. the US dollar, moving closer …

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• 12 April 2023 11:20 pm

  US stocks drop post-FOMC Minutes, signals of a mild recession

  

  The Dow Jones Industrials Index, the Nasdaq 100 Index ($IUXX) (QQQ), and the S&P 500 Index ($SPX) (SPY) all recorded losses on Wednesday. The S&P 500 Index ($SPX) (SPY) lost -0.41%.The Nasdaq 100 posted a 2-week low on Wednesday, as stock indices gave up early gains before settling marginally down. …

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• 12 April 2023 10:43 pm

  G7: Financial System Is Robust

  

  The G7 Communique has reaffirmed the financial system’s resilience and reiterated the commitment to preserving financial and economic stability.Additionally, the statement notes that central banks are still steadfastly dedicated to achieving price stability.The Consumer Price Index (CPI), which climbed in March at a slower-than-expected rate and a minute from the …

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