Noor Trends News, Technical Analysis, Educational Tools and Recommendations

April, 2023

• 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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• 4 April 2023 6:48 pm

  BoE’s Pill: There is a lot of policy-in-the-pipeline still to come through

  

  The Bank of England Chief Economist Huw Pill said on Tuesday that caution is still needed in assessing inflation prospects on account of the potential persistence of domestically generated inflation, as reported by Reuters.GBP/USD preserves its bullish momentum on Tuesday and was last seen rising 0.75% on the day at …

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• 4 April 2023 5:26 pm

  Eurozone producer prices fall for fifth straight month in Feb

  

  In February, producer prices in the euro zone decreased for the fifth consecutive month and by a larger amount than anticipated, virtually exclusively as a result of falling energy costs. The prices at factory gates in the 20 nations that use the euro decreased by 0.5% month over month in …

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• 4 April 2023 3:59 pm

  Futures rise on gains in tech, growth shares; focus on jobs data

  

  On Tuesday, advances in technology and growth sectors helped push U.S. stock index futures higher as investors anticipated important economic data that might determine the Federal Reserve’s course for monetary tightening. While sales of its Chinese-made electric vehicles increased in March, Tesla Inc. gained 1% in premarket trade. Its shares …

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• 4 April 2023 2:30 pm

  Türkiye’s exports to Russia jumped 262% year on year in March

  

  The Turkish Exporters Association said on Tuesday that the country’s exports to Russia jumped 262 percent year-on-year in March, reflecting the sharp increase in bilateral trade since Russia’s invasion of Ukraine last year prompted Western sanctions against Moscow. Türkiye opposes the war but also opposes Western sanctions. A senior export …

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• 4 April 2023 1:15 pm

  German exports rose more than expected in February

  

  Data on Tuesday showed a much bigger-than-expected rise in German exports in February, thanks to strong demand from the United States and China, marking their biggest increase in 10 months. The Federal Statistical Office said exports increased 4 percent compared to the previous month. A Reuters poll had forecast a …

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• 4 April 2023 12:38 pm

  Oil is rising as investors’ focus shifts to the demand outlook

  

  Oil prices rose in Asian trading on Tuesday after the OPEC+ decision to cut further production shook markets on Monday, while investors’ attention turned to the demand outlook and the impact of higher prices on the global economy. Brent crude futures rose 41 cents, or 0.5 percent, to $85.34 a …

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• 4 April 2023 11:45 am

  RBA steers rates on a steady course at 3.60% in April

  

  At its April monetary policy meeting, the Reserve Bank of Australia (RBA) board members decided to leave the Official Cash Rate (OCR) unchanged at 3.60% after ten consecutive interest rate hikes so far. Markets had placed around an 85% chance the central bank will stand pat on rates this Tuesday. …

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• 4 April 2023 4:50 am

  Market Drivers – US Session 03/04/2023

  

  On Monday, OPEC+ surprised the markets by substantially raising crude oil prices, yet Wall Street continued to advance. The regular suspects will once again be the focus on Tuesday. The Reserve Bank of Australia (RBA) will hold its monetary policy meeting, while the Eurozone’s February Producer Price Index will provide …

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• 4 April 2023 4:38 am

  Yellen: OPEC+ oil cut will add uncertainty to global growth outlook

  

  According to US Treasury Secretary Janet Yellen, on Monday, “A surprise OPEC+ oil production cut is an ‘unconstructive act’ that will add uncertainty to the global growth outlook and to burdens on consumers at a time of high inflation,” “I think it’s a regrettable action that OPEC decided to take. …

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• 4 April 2023 2:34 am

  GBP/USD bulls celebrate US Dollar weakness

  

  With a positive start to the important week, the GBP/USD pair continues to climb. OPEC+ decision, despite driving up oil prices, fails to support the US dollar. The two appear to dismiss criticism of Brexit, pessimistic UK inflation projections, and a strong US dollar.Weaker US data, rates, and declining hawkish …

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• 4 April 2023 1:30 am

  AUD/USD jumps on weaker US dollar

  

  The bearish pennant on the AUD/USD is still active. The pair rose to a 4-week high of 0.67585 as the US dollar fell on Monday, giving up gains made after unexpected cuts to OPEC+ oil supply. According to US data, manufacturing and construction spending decreased, and the US economy continued …

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